1 Growth Stock Down 50% to Buy Right Now

Shares of e.l.f. Beauty (NYSE: ELF) have been on a roller-coaster ride in 2024, soaring early in the year only to lose half their value from the highs reached earlier this year. The stock is currently down more than 25% on the year.However, the company remains one of the strongest growth stocks in the consumer staples space, seeing its revenue soar 50% last quarter. Let's look at why now is a great time to buy this growth stock while it is down.Simply stated, e.l.f. has taken the mass-market cosmetic industry by storm. Following a page from the apparel industry, the company uses a fast-follower approach, introducing similar offerings of popular prestige cosmetic products at a fraction of the price.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool