The bull market has been thriving, with the S&P 500 index rising 38% since the end of 2022. Tech stocks have been driving the market, but some beaten-down names in e-commerce and travel have been outperforming the index and are still below their previous highs.
Three contributors from fool.com believe that Carnival (NYSE: CCL), Shopify (NYSE: SHOP), and MercadoLibre (NASDAQ: MELI) are good buys at the moment.
Carnival, the world’s largest cruise line, has been on a rollercoaster ride since the pandemic hit. With concerns about its ability to recover from the crisis, investors are cautious. However, June could be a good time to buy Carnival stock as travel demand is on the rise, airlines are forecasting record summer travel, and there are expectations of the Federal Reserve lowering interest rates.
Shopify, a leading e-commerce platform, has seen tremendous growth in recent years. With revenue skyrocketing and the company introducing innovative services like artificial intelligence, Shopify is attracting more businesses to its platform.
MercadoLibre, the dominant e-commerce player in Latin American markets, is experiencing massive growth. With a focus on expanding its fintech segment and launching new services, MercadoLibre is poised to become a financial powerhouse in the region.
Overall, these three stocks offer growth potential and could be good investments for June. It’s important to do your own research before investing in any stock.