Last week's selloff targeted big-name stocks with seemingly unending momentum—with Tesla Motors, Netflix and Priceline among the victims. But Louis Navellier, a Nevada-based money manager, says he has a new crop of "explosive," yet lesser known, momentum plays.
"Growth managers like me live quarter to quarter," Navellier said Monday on CNBC's "Squawk Box." "We got a great buying opportunity now because of the profit-taking that happened here recently."
Navellier chose Chinese online retailer Vipshop, oil and gas producer Matador Resources and pharmaceutical company Actavis as his best stock picks for short-term gains. The stock picks were part of "Squawk Box"s Platinum Portfolio contest, a running feature that pits top investors and their strategies against each other.
Vipshop has seen share prices skyrocket more than 300 percent in the past year. Navellier said he predicts "explosive" sales growth at the retailer, despite worries over China's financial system and slowing growth.
"Trust me, it's a great buy near term," Navellier said.
Matador Resources has a presence in the Eagle Ford shale formation in West Texas, and its price has more than tripled in the past year. Navellier called Actavis the safest stock he recommends, after two "aggressive" choices in Vipshop and Matador.