Nasdaq Sell-Off: These 3 "Safe Stocks" Finally Look Like Bargains
The plunge is punishing some stocks far more than is merited. That spells opportunity for level-headed investors.
Panicked yet? It would be a little surprising if you weren't at least a bit. Now down more than 10% from its most recent peak, the Nasdaq Composite (NASDAQINDEX: ^IXIC) is officially in correction territory. Such big tumbles often precede even more weakness, even if that continued selling is only rooted in fear, and the result of a self-fulfilling prophecy.
However, the Nasdaq's steep pullback is a buying opportunity. Although plenty of overvalued stocks are now suffering right-pricing, the sweeping sell-off also unduly punished several stocks that are safe from whatever economic headwinds the market is now anticipating. Here's a closer look at three of these "safe stocks" that have been errantly up-ended in and by the panic, and become bargains as a result.
Shopify (NYSE: SHOP) helps merchants, brands, and consumer-facing outfits establish their own e-commerce presence. It's an alternative to third-party platforms like Amazon, which may or may not always have sellers' best interests at heart.
