The stock market has just suffered its worst performance in the first half of a year in decades. The decline profoundly affected growth stocks, and some sell at more than a 75% discount from 52-week highs. Such a recovery may indicate it is time to consider growth tech stocks such as Snowflake (NYSE: SNOW), Twilio (NYSE: TWLO), and Spotify Technology (NYSE: SPOT).
The optimistic case for Spotify Technology (NYSE: SPOT) has always been that it would create an advertising network like Facebook, except for your ears and not your eyes. The company can connect listeners and creators of music, podcasts, and audiobooks with highly targeted ads from advertisers around the world, generating revenue that can be shared with suppliers. Spotify might not have Facebook's upside in terms of scale, but the potential for a very profitable, sticky business is there.
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