After surprisingly good quarters, it might be time to deploy some cash on Pinterest and Shopify.
Shopify (SHOP 0.69%) and Pinterest (PINS -2.98%) were both tech stock darlings with no downside in 2020.
From June 2019 to the beginning of 2021, investors pushed these stocks to extreme highs, with shares of Shopify and Pinterest rising over ->
312% and 164%, respectively, far outpacing the Nasdaq Composite index, which rose 73%. Here's why you should stock up on Shopify and Pinterest while shares are still low.
Shopify
01.
What was once an e-commerce darling has quickly become an e-commerce leader, and investors have lost interest as growth has slowed dramatically.
Pinterest
02.
Pinterest shares have also plummeted as investors fret about how advertising will fare in the current macroeconomic environment.
Companies that rely on advertising revenue (such as Pinterest) have been crushed because it is easy to reduce ad spending during a recession.