I'm always on the hunt for good ASX shares. I think that ones that have a good future and have dropped could be good choices as bargain buys.
With so much volatility in 2022 seemingly due to inflation and rising interest rates, I think there is a chance to take advantage of these lower prices.
At a supermarket, would you rather have food prices be more expensive or cheaper? I know which one I'd go for.
With that in mind, let's look at two ASX shares that have seen their share prices sold off:
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Betashares Global Cybersecurity ETF (ASX: HACK)
As the name suggests, this is an exchange-traded fund (ETF) that is focused on the global cybersecurity sector. The ETF has suffered a 15% fall in its unit price since the beginning of 2022.
There aren't that many names in the portfolio. At 19 August 2022, there were 38 positions including: Cloudflare, Crowdstrike, Zscaler, Cisco Systems and Palo Alto Networks.
According to Statista, the projected size of the global cybersecurity market is expected to go from $137.6 billion in 2017 to $248.3 billion in 2023.
BetaShares notes that Australian investors currently have few local options for gaining exposure to the fast-growing cybersecurity sector.
Past performance is certainly no guarantee of future results. But over the past five years, the HACK ETF has produced an average return per annum of 18.4% to 31 July 2022.
Airtasker Ltd (ASX: ART)
Airtasker is one of the most interesting ASX shares in my opinion. It offers a platform for local services to match up people who need work with people who want to work.
This ASX share has a very high gross profit margin (of more than 90%) and its revenue is growing rapidly as well. That combination means the business can invest substantially in more growth as its revenue rises.
In the last quarter of FY22, for the three months to June 2022, it generated revenue growth of 30.6% to $9 million. International gross marketplace volume (GMV) grew by 112% year over year. International refers to its UK and US operations.
Airtasker also says that the current inflationary environment could help its earnings because it clips the target and higher task prices would indirectly help Airtasker.
The Airtasker share price has fallen around 50% in 2022.
