In case you hadn't noticed yet, the stock market kind of curled up in a ball and died today. Of particular interest to growth investors today is the fact that some of the fastest growing e-commerce stocks in the world are going on sale, with shares of MercadoLibre (NASDAQ: MELI) down 8.6%, Shopify (NYSE: SHOP) falling 10%, and Sea Limited (NYSE: SE) leading the pack lower with a 12.3% loss. As it turns out, Shopify is the only one of the three with any obvious news on the wires, and even that news isn't too awfully bad.
Wall Street doesn't always get it right. If you want returns of 98% to 148% this year, Wall Street analysts think that buying these three stocks could do the trick. Shopify (NYSE: SHOP) is an e-commerce leader that analysts really like these days.
Share prices of many gaming, e-commerce, and business communication stocks soared in 2020 and early 2021, then tanked dramatically in the later part of 2021. Shopee has already established itself as the largest online marketplace and accounts for almost 57% of Southeast Asian e-commerce market's transaction volume.