4 Superior Growth Stocks You’ll Regret Not Buying in the Wake of the Nasdaq Bear Market Dip

It’s amazing what a difference a year can make on Wall Street. With the three major stock indexes continuing to oscillate between bear and bull markets in successive years, 2023 turned out to be a phenomenal year for the bulls. Although the Dow Jones Industrial Average powered to a record high, it was the 43% yearly gain for the Nasdaq Composite (NASDAQINDEX: ^IXIC) that stole the show.

But in spite of this incredible gain following the 2022 bear market, the growth-fueled Nasdaq still hasn’t eclipsed its previous all-time high. As of the closing bell on Jan. 3, 2024, the Nasdaq remained more than 9% below its high-water mark.

While short-term traders might view the past 26 months as a lost period for growth stocks, long-term investors are liable to see this decline as an opportunity to pounce. After all, every notable decline in the major indexes has eventually (key word!) been placed into the back seat by a bull market rally.

What follows are four superior growth stocks you’ll regret not buying in the wake of the Nasdaq bear market dip.

Palantir Technologies

The first stellar growth stock you’ll be kicking yourself for not scooping up with the Nasdaq Composite still well off of its record-closing high is data-mining company Palantir Technologies (NYSE: PLTR). Although Palantir trades at an aggressive profit multiple — a little above 50 times forward-year earnings — it possesses well-defined competitive advantages that merit a premium.

What Palantir is best-known for is its Gotham platform. Gotham is an artificial intelligence (AI)- and machine learning (ML)-driven software-as-a-service (SaaS) solution that primarily helps the U.S. federal government plan missions and gather data. Not only is there little worry of receiving payment since the U.S. government is its primary customer, but the contracts Palantir lands often last four or five years. This leads to predictable cash flow and steady double-digit sales growth.

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