As it gets colder in the U.S., investors might want to warm up their portfolios by searching for high-quality businesses that have fared poorly in 2022. As long as the long-term outlook remains unchanged, it's definitely a good time to take advantage of any opportunities that the market is offering up right now. 

With their share prices down 15% and 48%, respectively, this year, investors might want to consider adding Chipotle Mexican Grill (CMG 0.69%) and Etsy (ETSY 1.93%) to their portfolios right now. These two growth stocks could supercharge your investments. 

1. Chipotle Mexican Grill continues to grow

Over the past five years, Chipotle's quarterly revenue and diluted earnings per share (EPS) have risen 100% and 494%, respectively, demonstrating just how remarkable the growth has been for this top restaurant business. Besides expanding the store footprint every year, the company has been able to increase same-store sales at a healthy clip, boosting the productivity of each location. 

In the most recent quarter (ended Sept. 30), Chipotle posted solid results once again. Revenue of $2.2 billion was up 13.7% year over year, and diluted EPS of $9.20 was up 28.1%. The business opened 43 new restaurants, of which 38 locations were built with a "Chipotlane" drive-thru. Chipotle currently has 3,090 restaurants, and it plans to end 2022 having opened 235 to 250 brand-new stores.

Chipotle hasn't been immune from the current macroeconomic environment, as it has dealt with elevated costs for key food inputs. Management has been able to raise menu prices multiple times over the past year and a half, while experiencing "minimal resistance" from customers, according to CEO Brian Niccol. But if the U.S. enters a full-blown recession, investors will need to watch whether people are willing to continue paying for their favorite burritos and bowls if the prices keep going up. 

What has propelled Chipotle even more over the past few years is the company's popular rewards program that now counts 30 million members. These loyal customers provide a valuable communication and marketing channel for the company, and drive repeat purchase behavior. In the third quarter, digital sales represented 37.2% of the overall business. That's down from during the depths of the pandemic, but it's still worth noting.

As of this writing, Chipotle shares trade at a price to earnings ratio (P/E) of 52. That's not surprising when you consider the growth this company has been able to register over the years. The valuation might seem expensive, but Chipotle still has a long runway for expansion left, which might justify paying a premium. 

2. Etsy demonstrates resilience despite the odds  

Etsy, a popular e-commerce destination for unique, vintage, and handcrafted items, increased sales 459% over the last five years. And with expanding margins, operating income has skyrocketed, going from $9.2 million in Q3 2017 to $90.7 million in the latest quarter. That's an outstanding financial performance, and it has made the stock, which is up almost 600% since November 2017, a wonderful investment for shareholders. 

In Q3, Etsy crushed Wall Street analyst estimates all around, posting revenue of $594.5 million and adjusted EPS of $0.58. While those results were impressive, the business's user base did shrink on a year-over-year basis. As of Sept. 30, Etsy had 94.1 million active buyers and 7.4 million active sellers on the platform. 

Etsy's business received an incredible boost thanks to the pandemic, as people who were stuck at home leaned on e-commerce shopping. But with the economy now softening and characterized by high inflation and rising interest rates, consumers will be more inclined to cut back on discretionary, non-essential purchases -- the kind of stuff Etsy specializes in. 

Etsy's biggest product category by far is home and living, accounting for approximately 30% of gross merchandise sales (GMS) in the second quarter. When households are facing difficult financial times, they're not going to stop spending on essentials like food, gas, and rent. But they can easily hold off on buying that new light fixture or nightstand. 

Nonetheless, management remains optimistic, raising guidance for the current quarter. Etsy's fourth-quarter GMS is expected to be $3.8 billion (at the midpoint), and revenue is projected to come in between $700 million and $780 million. These figures were well-received by the market, as Etsy's stock has climbed 31% since the latest financial release. 

But shares are still down big in 2022. As a result, Etsy's stock trades at a P/E multiple of 36. This doesn't scream "cheap," but the valuation is about half of Etsy's trailing 10-year average P/E. For such a profitable enterprise that still has a ton of growth left in the years ahead, investors should consider buying the dip.