$Uber(UBER)$   ( The motly fool)

2 Beaten-Down Stocks to Buy Hand Over Fist Before They Soar

These stocks are down right now, but their underlying businesses are red hot.

Investors have been laser-focused on the performance of the technology-heavy Nasdaq-100 index this year, because it hosts some of the fastest growing companies in the world. The picture hasn't been positive with the index declining 28% in 2022 (so far), placing it firmly in bear territory.

But investors who are paying extra close attention might have spotted a few technology companies delivering record results this year, even in the face of broader economic challenges. Their respective share prices might still be beaten down, but that spells opportunity, especially going into the new year.

Uber Technologies (UBER 4.97%) and Duolingo (DUOL 4.62%) are two of them, and here's why investors should consider buying them before they rebound.