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3 Recently Sold-Off Growth Stocks
I recently touched base on three of my favorite growth stocks that have been sold off a bit over the last month in $FTNT, $DOCN, and $GLBE.

Here is my ongoing thesis on each:

  • Fortinet - Well beyond my networking/security comprehension, but has a slew of industry awards and/or leadership position titles from Gartner and Forrester, which helped me make the "leap of faith" necessary to buy this founder-led business. Founder Xie has a 95% approval rating from his employees, and the company is 34th on Glassdoor's Best Places to Work in 2023, leading me to believe in the long-term viability of the company's success thanks to its strong culture. Massive FCF and profitability, now at just 23x FCF.

  • DigitalOcean - I'm still a huge believer in the niche that DO is trying to fill by working closely with SMBs, as its hyperscale peers completely ignore this group. The Cloudways acquisition is growing faster than the rest of the business and seems like a no-brainer solution to many small businesses who want absolutely nothing to do with managing their cloud. Now trading at 5x sales and sneaking up on GAAP profitability.

  • Global-e Online - Market Research Future expects e-commerce cross-border sales to 8x by 2030, and Global-e enables and streamlines these sales. With its $SHOP integration still just getting up and running, this is still in the very early innings of what could be a really long baseball game. It will probably always look expensive as long as growth stays high, but its gross profit margin has increased from 32% to 40% in the last three years, so I'll happily keep holding.

I would love to hear which business you all like the most or if you have any worries about my thesis for any of these stocks.

Thank you for reading šŸ™
Which stock is the easiest to disrupt, in your opinion?
27%Global-e Online

11 VotesPoll ended on: 8/31/2023

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