The Nasdaq bear market took its toll on many consumer stocks, particularly ones tied to the tech industry. Numerous growth stocks lost more than three-fourths of their value, and a few fell by more than 90% from their high.

But, as with all bear markets, the exchanges eventually right themselves and again head in an upward trajectory. Some of the stocks caught up in the bear market will get into that upward trajectory as well. An indication of that was seen when several of these stocks experienced a significant rebound in recent weeks. Whether this trend will continue is anyone's guess, but investors may want to take a second look at Airbnb (ABNB -2.37%), Pinterest (PINS -2.86%), and Roku (ROKU -1.60%) now before any recovery is in full swing.

1. Airbnb

Airbnb has revolutionized vacation and residential real estate through technology. It took a page from Expedia's Vrbo app by turning unused properties into short-term rentals, then built on that by applying artificial intelligence to understand customers better and set competitive rates. More recently, it has taken the concept a step further by helping renters find temporary tenants when it needs to leave a lease early.

During the first three quarters of 2022, it brought in $6.5 billion in revenue, 46% more than in the same time frame in 2021. This continued growth helped it turn profitable, with $1.6 billion in net income.

That growth has not insulated it from the bear market, and it sells at an approximate 50% discount to its all-time high. Also, the price-to-sales (P/S) ratio of 10 is just above record lows. With that discounted multiple and the transformational effect it has had on its industry, owning Airbnb could make investors a fortune in 2023.

2. Pinterest

Pinterest has made itself the social media stock driven by inspiration. Users "pin" images based on their interests. Its key demographics include women and high-income households. The company derived revenue from that activity with promoted pins, or ads based on specific customer interests.

Like many social media stocks, interest in the site waned after the COVID-19-related lockdowns ended. In June 2022, co-founder Ben Silbermann transitioned out of the CEO role and was replaced by Bill Ready. Under Ready's leadership, the site began to participate more directly in e-commerce, giving users a reason to return to Pinterest.

The move is showing signs of success. The yearly losses in monthly active users have reversed. Also, revenue for the first nine months of 2022 surged to $1.9 billion, 11% higher than in the same time frame in 2021. This included an 11% gain in global average revenue per user (ARPU), which reached $1.56.

Still, the stock is up more than 80% from summer lows and sells at a P/S ratio of 7. If Pinterest's e-commerce strategy takes global ARPU well above $1.56, the stock could pin massive gains over time.

3. Roku

Roku rose to prominence as the streaming platform that brings channels, customers, and advertisers together. But of those three, the revenue driver is, of course, advertising. This business has boomed as viewers -- and ad dollars -- have shifted from traditional broadcast TV to streaming.

The stock shot into the stratosphere during the pandemic. However, consumers resumed offline activities when lockdowns ended. Also, a sluggish economy led to cuts in ad spending, slowing growth for Roku. So challenging are the conditions that the company predicted a year-over-year revenue decline in the fourth quarter.

Nonetheless, revenue for the first three quarters of 2022 came in at just under $2.3 billion, rising 19% year over year. That did not stop Roku from posting a $261 million loss in the first nine months of 2022, but that came amid a massive surge in the cost of revenue and falling revenue on player sales.

But since losing more than 90% of its value, Roku has surged 70% from its December low. With the P/S ratio below 3 and ad sales likely to recover, it could again become an extraordinary growth stock.