What is a growth stock? You may think it’s a stock whose price is rocketing higher. However, the smarter definition that will lead to better long-term gains for your portfolio is to think of a growth stock as an equity representing a business that is firing on all cylinders, regardless of where the stock price trades.
In fact, the best buying opportunities among growth stocks can arrive in your lap when a stock price is down, but the underlying business is seeing accelerating growth. Here are two red-hot growth stocks that fit this criteria that should make great buys for your portfolio in 2026.
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One of the fastest-growing large technology businesses in the world is MercadoLibre (NASDAQ: MELI). The company is one of the top e-commerce and fintech providers in Latin American countries such as Mexico and Brazil, leading the way with its combined payment tools and online shopping portal.
Last quarter, the company reported yet another round of skyrocketing growth. Net revenue grew 47% year over year in constant currency, reaching over $25 billion for the full year 2025. Commerce revenue grew 40%, while fintech revenue grew 51% year over year, underscoring how these two product categories reinforce each other in countries like Argentina, which is experiencing an economic recovery after a period of hyperinflation.
Long-term, there is an immense opportunity for MercadoLibre to grow both sides of its business. E-commerce penetration is much lower in Latin America than in more developed nations, giving the business a huge runway to keep growing. Wall Street is upset that investments are being made that will sacrifice profits in the short run, but they will lead to a much larger MercadoLibre business a decade from now.
The second red-hot growth stock has gotten brutally beaten down by the market: Wix.com (NASDAQ: WIX). Wix is a website builder getting caught up in the software stock meltdown over artificial intelligence (AI) disruption fears.
Investors believe that Wix will be displaced by AI coding agents that will make websites for people themselves. It’s hard to believe this will be the case, given Wix’s current business and customers. First, Wix is already a platform that lets you build a website without any coding, which is what AI is theoretically going to replace. Second, Wix’s customers are individual contractors and small businesses, such as restaurants, that are not exactly looking to add cutting-edge software tools every day.
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