After the ride in 2022, the current year should significantly improve, and the buying opportunities for growth stocks are everywhere. The growth stocks were hit hard, and those investors who buy at the current prices could be well set up for the imminent bull run. Here is a pair of stocks that are cheaper than they were and are likely to soar in 2023.

Ginkgo Bioworks -67%

The biotech growth stock is down 67%, but it has a solid chance of being a favorite in the next bull market. The company is yet to be profitable; however, its business model stands out. Microorganisms are very useful; they can be engineered for large-scale production of chemicals that most firms need, including vaccines or drug development.

The company will use microorganisms to synthesize specific parts of genetic codes to create products. However, it is very difficult to get microorganisms to do what you want, even in highly controlled environments in the lab. Therefore, growing them on a large scale is challenging and makes the business unattractive.

That is where the company comes in with a unique product that helps companies make these cells without doing it in their labs. Unfortunately, in the bear market, investors likely viewed the model as an ambitious and unproven model responsible for the company’s unfavorable results.

Instead, investors should focus on the economies of scale where each program drives new costs while adding to the knowledge database. In addition, the company focuses on automation in the biotech industry at every stage of the production process, and investors may appreciate the company’s efficiency.

However, growth is not guaranteed, and buying is very risky. Right now, the business model may need to be revised. However, as an investor, create your path by doing due diligence.

Costco

The company is another growth stock that truly stands out. Unlike Ginkgo Bioworks, it is not in the business of solving complex bioengineering problems and provides other avenues of profitability. In the last year, the shares dropped by over 9%, but there’s a reason to believe the company’s shares will be a good buy in the bull market.

The company is known for its exotic items, such as champagne, and banal products, like socks. The company also sells groceries and other products from other brands. The company does not let anyone buy its stock and charges an annual fee.

In the last half-decade, the quarterly profits hit $1.4 billion despite a narrow profit margin of around 25%. The subscription fee goes a long way in making the company reach these levels. Moreover, the company’s model will eventually reap more profit, making it an attractive opportunity for growth-hungry investors.