During the first quarter, the S&P 500 fell more than 5% as rampant inflation and the prospect of rising interest rates sparked fears about a recession. Similarly, billionaire David Siegel of Two Sigma Advisors doubled his position in PayPal Holdings (NASDAQ: PYPL), adding nearly 1.8 million shares to his hedge fund. Of course, the stock market sell-off has accelerated since the end of the first quarter.
These three stocks may be severely beaten down, but they have the potential to rise sharply over the next few years.
The word "conglomerate" used to be reserved for behemoths like Procter & Gamble, the parent company of 65 different consumer brands producing everything from home care to baby care to hair care. Along comes the digital economy and a whole new class of brands and services are created. Singapore-based Sea Limited (NYSE: SE) operates in digital entertainment, e-commerce, and digital payments, and it's growing at a rapid pace.