Things don’t always go as planned when investing in the stock market. While 2021 made investors think stocks are only going to go higher, 2022 provided a kick-in-the-pants reminder that stocks can also fall. When the closing bell rang on December 31, 2022, all major US stock indices had their worst year since 2008.

Growth stocks were hit particularly hard last year. The growth dependent Nasdaq composite (^IXIC) ended 2022 lower by 33% and suffered a maximum decline of 38% from its all-time high in November 2021.

But on Wall Street, massive declines present equally massive opportunities for long-term investors to strike. While we will never know in advance when bear markets will occur or how strong the decline will be, we do know that broad market indices, including the Nasdaq Composite, tend to rise over long periods of time. This makes any double-digit decline a buying opportunity.

What follows are five awesome growth stocks you’ll regret not buying in the Nasdaq bear market dip.

Teladoc Health

The first incredible growth stock begging to be bought as the Nasdaq tumbles is telemedicine giant Teladoc Health (TDC 4.83%). Despite the 2020 acquisition of Livongo Health, an applied health signals company, and two significant write-downs last year, the future looks bright for this pandemic darling.

The first thing to understand about healthcare stocks is that, pardon the pun, they are somewhat immune to economic downturns. People don’t get sick just because inflation rises or the US economy weakens. This constant demand for prescription drugs, medical devices and healthcare is one of the reasons Teladoc can expect predictable revenue year after year.

What makes Teladoc so special is the role it plays in transforming personalized care. When applicable, virtual visits are more convenient for patients and provide clinicians with easier access to critical data for their chronically ill patients. The end result of this easy access should be better patient outcomes and lower costs for health insurers. It is a win-win for the entire healthcare chain.

In 2023, the biggest catalyst for Teladoc Health is simply putting the one-time expenses associated with the Livongo acquisition in the rearview mirror. With abundant cross-selling opportunities and abundant cost savings potential, Teladoc’s earnings in the new year could come as a pleasant surprise.

Palo Alto Networks

A second overwhelming growth stock that you will regret not picking up during the Nasdaq bear market decline is cybersecurity stock Palo Alto Networks (PANW 2.26%). While growing concerns about a U.S. recession have weighed on Palo Alto’s share price lately, the company has more than enough tailwind to outperform the broader market.

As with Teladoc, one of Palo Alto’s fundamental tailwinds is the evolution of cybersecurity into a basic need industry. No matter how well or badly the US economy performs, hackers and robots take no time to try and steal sensitive information. This leads to a steady demand for subscriptions for security solutions in every economic environment.

The intrigue surrounding Palo Alto Networks has to do with the four-year (and growing) shift to promoting cloud-based software-as-a-service (SaaS) security solutions. While the company still sells physical firewall solutions, Palo Alto’s management team understands that SaaS solutions drive higher margins, steadier sales, and reduce churn.

In addition, Palo Alto has done a great job of using bolt-on acquisitions to its advantage. By acquiring smaller companies, the company was able to expand its service portfolio and broaden its cross-selling capabilities. Look for Palo Alto Networks to maintain a 20% growth rate for the foreseeable future.

Airbnb

The third awesome growth stock you’ll regret not buying as the Nasdaq collapses is the stay-and-hosting platform Airbnb (ABNB 0.90%). While the COVID-19 pandemic has definitely turned Airbnb’s hosting and travel-driven business model upside down for a short period of time, the company’s key performance metrics are undeniably moving in the right direction.

For starters, the trajectory of annual bookings has been phenomenal. During the first nine months of 2022, Airbnb booked an average of about 100 million combined nights and experiences per quarter, representing an annual run rate of about 400 million. For comparison: in the whole of 2017 there were a total of 115 million bookings. In five years, Airbnb has almost quadrupled its bookings, which clearly shows that the business model is not a fad.

Perhaps the most exciting aspect of Airbnb’s model is long-term stays (defined as stays of at least 28 days). This is the company’s fastest growing segment and appears to reflect a permanently changing job market in the aftermath of the pandemic. With more people working remotely than ever before, Airbnb could appeal especially to people who aren’t tied to a single location.

Airbnb is also just scratching the surface with its Experiences segment. The travel industry represents an $8 trillion opportunity, and it seems only natural that Airbnb will eventually partner with the food and transportation companies to take an even bigger slice of this $8 trillion pie.

Bark

A fourth stellar growth stock you’ll regret not picking up during the Nasdaq bear market decline is a dog-focused product and services company Bark (BARK -1.04%). While virtually every company (including Bark) that went public through a Special Purpose Acquisition Company (SPAC) in 2020 or 2021 has been beaten up, Bark has clear competitive advantages that should set it apart in 2023 (and well beyond) .

For starters, the pet industry has proven to be about as recession-resistant as any other industry on the planet. Data from the American Pet Products Association (APPA) shows that it’s been more than a quarter of a century since annual spending on our furry, gill, feathered, and scaly “relatives” in the U.S. fell in a year — on a yearly basis. In addition, more U.S. households now own pets than at any time since the APPA began surveying households in 1988.

The factor that makes Bark such an interesting investment is its direct-to-consumer focus. Although it has its products in tens of thousands of physical stores, about 90% of its sales come from its 2.24 million subscribed customers. The beauty of subscription-driven business models is that they help reduce overhead costs by making inventory needs transparent. For Bark, this should provide a boost to profitability within the next 12 to 24 months.

Another selling point for Bark is add-on sales. The company introduced three new product/service offerings during the pandemic, all of which have the potential to increase average order value and increase operating margins. In particular, Bark Bright, the company’s dental services offering, posted triple-digit sales growth.

Redfin

The Fifth and Final Awesome Growth Stock You’ll Regret Not Buying on the Bear Market’s Nasdaq Fall Is a Technology-Driven Real Estate Company Redfin (RDFN 2.44%). Despite real estate companies being rocked by the highest mortgage rates in more than a decade, Redfin has advantages that should make it a popular choice for sellers in a challenging environment.

Traditional real estate agencies, for example, charge anywhere from 2.5% to 3% of a home’s sales price to act as brokers for buyers and sellers. Meanwhile, Redfin only charges 1% or 1.5% depending on how much previous business has been done with the company. Based on typical U.S. home sales of $350,000 in the four weeks ending January 1, 2023, Redfin can help sellers save up to $7,000 in costs. That’s not a big change in a weakening US economy.

In addition, Redfin offers a variety of personalization services that traditional real estate companies can rarely, if ever, match. This includes a concierge service that should help sellers maximize the value of their home. These value-added services are differentiators and margin drivers for the company.

As a final note, Redfin recently announced that it would be closing its iBuying business – the segment that bought homes for cash, which would later be sold for a profit. Closing this segment reduces the company’s costs and frees up cash on the balance sheet.

Like Bark, Redfin could aim for recurring profitability within the next 24 months.