Shares of some growth stocks were spiking today as the broader market indices jumped. As a result, investors returned to some technology stocks today, helping to lift Shopify (NYSE: SHOP) by 13.5%, PayPal Holdings (NASDAQ: PYPL) by 5.2%, and Appian (NASDAQ: APPN) by 7.3% as of 10:30 a.m. ET.
Pinterest (NYSE: PINS) has been getting whipsawed around, and not just because of extreme market volatility in recent weeks. Co-founder and CEO Ben Silbermann stepped down, replaced by Bill Ready -- former president of Alphabet's (NASDAQ: GOOGL)(NASDAQ: GOOG) Google Commerce. Then investment management firm Elliott Management took a large stake in both Pinterest and PayPal (NASDAQ: PYPL).
October conjures visions of haunted houses, ghostly apparitions, and leering jack-o'-lanterns. The S&P 500 is down 24% from its high, and the Nasdaq Composite is down 33%, putting both indexes in the jaws of a bear market. High-quality companies like Shopify (NYSE: SHOP) and PayPal Holdings (NASDAQ: PYPL) have seen their stock prices fall into bargain territory, creating an excellent buying opportunity for patient investors.