Coupang and PDD Holdings stocks attractive during Nasdaq correction

The Nasdaq Composite index recently entered correction territory, dropping at least 10% from its recent highs. This downturn can be tough for investors, but such dips can also present opportunities for long-term gains. Two growth stocks currently stand out as good options. The first is Coupang, a leading e-commerce platform in South Korea. It is focusing on expanding services like food delivery, digital entertainment, and payment options. Last quarter, revenue from these new services grew by 124% compared to the previous year. Coupang's gross profit increased by 43% in 2024, hinting at efficient operations and potential for further growth. It is also beginning to expand into Taiwan and Japan, which could enhance its future profits. The stock is currently trading 15% lower than its highs, making it an attractive buy. The second stock to consider is PDD Holdings, which operates the successful online platforms Pinduoduo and Temu. PDD has been competing effectively with Alibaba in China’s e-commerce scene. The company has adapted to mobile shopping trends and offers deep discounts by connecting consumers directly with manufacturers. Revenue has tripled over the last three years, and profit margins have doubled to almost 30%. With the shares down 39% from their peak, they appear to be a bargain, trading for just 12 times the company's earnings. Both Coupang and PDD Holdings are showing strong growth potential, making them appealing choices for investors looking to take advantage of the current market dip.