For long-term investors with capital to deploy in the current market, it's still a great time to put money to work in wonderful stocks with robust underlying businesses. While stocks across most sectors have declined over the past year, it's vital that investors not confuse share price fluctuations with the potential of an underlying business. As always, a look beyond the share price of a company and a close evaluation of the underlying business are keys before you buy or sell a stock.
Carvana, which is best known for its "car vending machine" towers, challenged traditional used car dealerships with an e-commerce platform that enabled customers to easily secure financing, buy vehicles, and sell them online. Upstart challenged traditional credit reporting agencies by analyzing non-traditional data like a person's education, GPA, standardized test scores, and work history to help banks, credit unions, and auto dealerships approve loans. Carvana hit an all-time high of $370.10 last August, while Upstart closed at a record high of $390 last October.
These top-tier innovators and industry leaders are the companies you'll want in your portfolio when the next bull market takes shape.