Although recent market volatility has been very disappointing for investors, one positive is that it has brought the prices of a number of popular growth shares down to more attractive levels.
Here are three growth shares that I think investors ought to consider buying this month:
A2 Milk Company Ltd (ASX: A2M)
This infant formula and dairy company's shares came under significant selling pressure last week after Nestle announced plans to launch an a2 protein-only infant formula product under its Illuma brand in China. Management responded yesterday stating that it was business as usual and seemed unconcerned by the launch. I believe the a2 brand is strong enough to fend off this challenge to continue its growth in China and think now could be a buying opportunity after its shares appeared to reach their bottom.
Aristocrat Leisure Limited (ASX: ALL)
This gaming technology company's shares slid lower yesterday after its Big Fish Casino game was found to constitute illegal gambling under Washington law. The court ruled that because "Big Fish Casino's virtual chips are a thing of value, Big Fish Casino constitutes illegal gambling under Washington law." This share price slide appears unwarranted for two reasons. Firstly, the company can still appeal the decision in the Supreme Court, and secondly, this ruling applies to just one state in the U.S. and would not be material to earnings. As result, I continue to expect Aristocrat Leisure to deliver above-average earnings growth for the foreseeable future.
Bingo Industries Ltd (ASX: BIN)
Although its shares have bounced back strongly from a sell-off last month brought about by the Queensland government introducing a waste dumping levy, I still think they are great value for buy and hold investors. Especially considering that this leading waste management company has strong long-term growth prospects from its nationwide expansion plans. Waste management may not be the sexiest industry to invest in, but it certainly could provide attractive returns for investors.
