On the assumption that the current correction is merely a blip on the radar to greater heights, there are stocks to buy that may see significant upside. This moment may provide a time capsule opportunity for those who were sitting on the sidelines during the eventual upswing.

True, this is a major assumption and you’re going to want to perform your due diligence before proceeding with certain stocks. However, it’s not completely unreasonable to be optimistic.

The Federal Reserve has signaled a pivot toward a hawkish monetary policy and nothing suggests a course reversal. Indeed, St. Louis Federal Reserve President James Bullard stated he favors three rate hikes from March through June of this year.

Such a pivot could rotate more money away from risk-on assets toward stable, dividend-bearing names. As you can see from January’s devastation in the market, technology-based growth firms have suffered the brunt of the damage. Still, at some point, investors may acclimate to the new normal within the new normal. That could spark greater confidence in discounted stocks to buy.

Further, the Fed is only modulating its monetary policy based on underlying economic signals. With the latest jobs report suggesting a stronger-than-expected recovery trek, investors may have greater confidence picking through the bargain bin regarding these stocks to buy.

• Sea Ltd (NYSE:SE)
• Upwork (NASDAQ:UPWK)
• Cloudflare (NYSE:NET)
• Wix.com (NASDAQ:WIX)
• Twilio (NYSE:TWLO)
• Spotify Technology (NYSE:SPOT)
• Cameco (NYSE:CCJ)

Of course, there’s always the other side of the argument to consider. As the Wall Street Journal noted, corporate debt has been soaring toward record heights. But that’s a narrative that wasn’t broadcasted just during the pandemic but in 2018.

Should interest rates rise and debt becomes more costly, companies may have trouble generating profits in a slowed economy. Thus, these stocks to buy aren’t guaranteed winners.

Stocks to Buy: Sea Ltd (SE)

I think I speak for most of my InvestorPlace colleagues in that discussing stocks to buy tied to companies that have suffered steep losses in the market adds a little more stress than usual.

True, these securities may be on a relative discount but a free-falling asset could fall even more down the line; hence the phrase, catching a falling knife.

Nevertheless, if you have a longer-term outlook, you might want to put Sea Ltd on your radar. A global consumer internet firm, Sea operates three core businesses across digital entertainment, e-commerce, as well as digital payments and financial services.

Most significantly, the company through its various digital services brands has a powerful presence in the Southeast Asia market.

In 2021, industry experts estimate that the region’s internet economy size was about $174 billion. By 2025, this figure could reach $363 billion, making SE one of the most intriguing stocks to buy for patient investors. Even better, a Reuters report indicated that the sector could hit $1 trillion by 2030.

That’s just money you cannot afford to ignore.

Upwork (UPWK)

Arguably one of the most relevant stocks to buy even before the Covid-19 pandemic, Upwork proclaims itself as the world’s work marketplace for freelancing.

Essentially, the company provides a platform that allows businesses to connect with freelancers and specialized talent to fill certain needs. It’s networking for the 21st century.

As you know, the gig economy is a burgeoning industry, especially with millennials and Generation Z, many of whom crave non-traditional working environments. Then the coronavirus happened and suddenly, many if not most white-collar workers got a taste of the gig life.

As the New York Times mentioned back in May 2020, the grand telecommuting experiment delivered benefits that many folks didn’t want to lose.

As work from home has become more ingrained into popular culture, the above sentiment has probably become incredibly solidified. Still, it’s hard to imagine that once the coast clears on Covid, companies won’t start recalling their employees. It’s just human nature to milk the system — and without a boss, who’s there to hold folks accountable?

Thus, I see more people taking matters into their own hands, making UPWK one of the stocks to buy.

Stocks to Buy: Cloudflare (NET)

As the world becomes more interconnected — perhaps best characterized by Southeast Asia’s explosive growth in its internet economy — cybersecurity along with edge computing services should command soaring demand.

Especially, distributed denial of service (DDoS) attacks have been in the news lately, thus auguring well for Cloudflare, a cloud-computing specialist with substantial acumen in network security.

One of the biggest selling points for NET stock is that the underlying firm has data centers in more than 250 cities worldwide. That facilitates a massive footprint for its edge computing business, putting data closer to the source of demand. Just this aspect alone makes Cloudflare worthy of consideration for stocks to buy.

However, the company could also play a significant role in the metaverse.

Now, as a disclaimer, I’m not the biggest fan of the metaverse — far from it. Still, I could be wrong about the latest evolution in internet connectivity. If I have indeed erred, then NET would be intriguing because its software-defined network model would better facilitate metaverse-related applications than hardware-based alternatives.

At a year-to-date loss of 15% it’s worth a look-see.

Wix.com (WIX)

I’m not going to beat around the bush with Wix.com. The cloud-based web development service provider is one of the riskiest stocks to buy at a relative discount.

On a YTD basis, WIX has dropped 25% of value in the market. Over the trailing half-year period, it’s down 55%.

If there’s a falling knife in this article, Wix.com could be it. Still, some intriguing aspects exist that may entice risk-tolerant speculators.

For one thing, since the early summer of 2018, WIX has consistently traded hands at an average price in the low $100 range. Thus, at just below $120, the security’s post-Covid premium has declined substantially. Keep in mind that in February of last year, WIX was up over $350 territory.

Second, the trend toward the gig economy may support stocks to buy related to independent contract work. For instance, by 2023, experts project that the gross volume of the gig economy could reach $455.2 billion. Since this market category cuts across various industries, having a standout website could help, thus possibly lifting WIX.

Stocks to Buy: Twilio (TWLO)

Another one of the riskiest stocks on this list, Twilio as a growth-driven tech play mimics the pain that Wix.com has suffered above.

On a YTD basis, TWLO has tanked more than 25%. In the trailing six months, it’s down more than 48%, posing big concerns for jittery investors.

If that wasn’t enough of a worrisome context, consider that in the week ended Feb. 4, TWLO has only gained 0.4%. That’s simply not the way you want to start your February but here we are.

The technical posture of TWLO is not inviting at the moment. I perceive a bearish pennant formation developing, which could mean greater pain — perhaps down to the $120 level.

However, if shares dip that low, you might want to add it to your list. As a specialist in communications API (application programming interface), Twilio has been instrumental in how the country operated so well during the worst of the pandemic. Facilitating the ability for two applications to essentially talk to each other, Twilio-powered services such as food deliveries and ride-sharing.

Unless you see these developments fading in the future, TWLO is a future discount that you should consider.

Spotify Technology (SPOT)

Of the controversies that famous podcaster Joe Rogan forwarded, few mainstream sources seem willing to criticize his views on the fake moon landing conspiracy.

Perhaps it’s because Rogan disavowed said views. However, I dug up a YouTube clip that purportedly is Rogan discussing his moon-landing hoax theories with radio personality Mancow Muller.

Now, Spotify Technology, which hosts the Joe Rogan Experience, is in a bit of trouble, at least ideologically. Last month, Rolling Stone reported that a group of doctors demanded Spotify put an end to Covid lies on the ultra-popular podcast. Of course, rockstar Neil Young made headlines recently when he requested the platform to take down his music.

It sounds like Spotify is in a troubled place. And to be certain, SPOT stock is down almost 29% YTD. Further, over the trailing year, it’s looking at a 46% loss. Does the platform need to reverse course?

Perhaps not. Indeed, intrepid investors may want to add SPOT to their list of stocks to buy. The reality is that Joe Rogan — like Donald Trump and other anti-establishment figures — is extremely popular because he broadcasts what millions of Americans are thinking but don’t say themselves for fear of being sent to HR.

Cameco (CCJ)

Admittedly an out-of-left-field suggestion, nuclear power specialist Cameco may offer something for the risk-tolerant gambler. And I do mean gambler: CCJ is really an idea that could go either way so please, don’t say I didn’t warn you.

Understandably, the world is increasingly pivoting toward clean and renewable energy infrastructures to supply their energy needs. The thing is, the sector, while experiencing dramatic improvement over the last several years, is still not a readymade solution for everyone. For instance, solar energy requires plenty of land and cooperative weather. Not every country qualifies.

While the concept of nuclear power is controversial because the devastation that occurs when things go awry is catastrophic, the harsh reality is that nuclear fuels are incredibly energy dense. For instance, a kilogram of uranium can power a car for 1.77 million kilometers. You’re not going to find that kind of range from gasoline or any other source, believe me.

So, I’m afraid all this talk about renewable energy is wonderful but nuclear is here to stay.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.