In today's video, I look at three growth stocks that are down double-digits from their recent 12-month highs. Below are three reasons to add these stocks to your watch list as potential buys. Three reasons to watch Lemonade (NYSE: LMND): Lemonade is down roughly 50% from its all-time high, with a market cap of $5.5 billion. During Lemonade's most recent quarter (Q4 2020), the company reported 87% year-over-year growth in "In Force Premium" and 56% year-over-year growth in subscribers. Analysts expect strong revenue growth for the next three to five years. Three reasons to watch Fisker (NYSE: FSR): Fisker is down roughly 49% from its all-time high, with a market cap of $4.27 billion. Its new electric vehicle, Ocean, is expected to start production in 2022. As of March 09, 2021, the company has reported over 14,000 reservations. Fisker has a strong balance sheet, with its most recent earnings showing no debt and over $900 million in cash. Three reasons to watch DraftKings (NASDAQ: DKNG): DraftKings is down roughly 19% from its all-time high, with a market cap of $23.08 billion. DraftKings has made some strong acquisition moves in the past few months, increasing its media content and iGaming assets. On April 13, 2021, DraftKings hired its first chief media officer to join the executive team, double-downing on its media content move. Click the video below for my full thoughts. *Stock prices used were the closing prices of April 12, 2021. The video was published on April 13, 2021. 10 stocks we like better than DraftKings Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and DraftKings Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Jose Najarro owns shares of DraftKings Inc.. The Motley Fool owns shares of and recommends Lemonade, Inc. The Motley Fool has a disclosure policy. Jose is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.Source