The market has had a terrible start to the week and is a sea of red on Monday afternoon.
While the market is down almost 2%, a number of shares have fallen significantly further. Is this a buying opportunity?
Adairs Ltd (ASX: ADH)
The Adairs share price has dropped over 5.5% to $1.68 on Monday. This decline means that the home furnishings company's shares are now trading at a lowly 9x earnings and offer a trailing fully franked 8% dividend. Surprisingly, its shares are trading at these low levels despite recently confirming that it is on course to achieve EBIT growth of between 4.9% and 13.7% in FY 2019. I think this makes it a bargain buy.
Appen Ltd (ASX: APX)
The Appen share price has been caught up in the tech selloff today and is down over 6% to $12.60. I believe this is a buying opportunity for investors that are prepared to hold onto the shares of global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence for the long term. Because machine learning and artificial intelligence markets are expected to grow at a strong rate over the next decade, I expect demand for its services will grow in line with them and put it in a great position to continue its impressive earnings growth for many years to come.
Domino's Pizza Enterprises Ltd (ASX: DMP)
The Domino's Pizza share price has fallen 6% to $43.54 on Monday. This means the pizza chain operator's shares are now changing hands at 24x earnings, which I think could make them a great option for investors that are prepared to be patient and make a long-term investment. I expect shareholders to be rewarded handsomely if the company successfully delivers on its plan to nearly double the size of its store network over the next seven years.
