3 Absolute Money-Making Growth Stocks For Your $1200 Stimulus Check.
Investing is the secret to long-lasting wealth. And if you want to take wealth-building to a whole new level, you invest in high-quality growth stocks and hold them for the long-term. Here are 3 solid growth stocks to park your $1200 stimulus check into.
1. The Trade Desk, TTD
Digital advertising has changed dramatically, and The Trade Desk (TTD) is well-positioned to transform and embrace this change. TTD "operates a self-service cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns in various formats (video, audio, display, social, etc." TTD reached a 52-week high of $323.78 on 02/20/2020. The coronavirus has made the stock relatively more affordable. TTD is currently trading at $233.41. With a P/E ratio of $103.74, an investment in TTD could make you a fortune over the long term.
2. Tandem Diabetes, TNDM
You probably know a person or two with diabetes. Without boring you with diabetes statistics, let's just say Tandem Diabetes (TNDM) is a stock you may want to add to your portfolio for massive wealth! TNDM is a medical device company that designs, develops and commercializes products for people who use insulin to manage their diabetes. The company allows insulin-dependent diabetics to easily manage their diabetes with its various delivery devices and pumps. The current stock price is $66.98. TNDM has a 52-week high and low of $91.65 and $43.69, respectively. Based in San Diego, CA, TNDM has a few products in development. The coronavirus will eventually go away or be contained, but diabetes is here to stay.
...and last but not least...
3. Tesla, TSLA
Tesla's stock has been on a tear this year (2020). The electric automaker's stock reached a 52-week high of $968.99 on 02/04/2020. But the coronavirus came along and disrupted the bullish party. The stock price stumbled to a relatively affordable price of $430.20 on 03/17/2020 from its 52-week high. In the last few weeks, however, the stock seems to have regained its bullish swagger. Tesla commands an extreme competitive advantage over its rivals. The electric automaker's market cap exceeded that of General Motors and Ford Motor Company combined earlier this year! One of the most shorted stock, if not the most shorted stock, TSLA can exhibit dramatic price fluctuations. As long as visionary leader Elon Musk is at the wheel, we're getting in and riding along!
The bottom line
The secret to building sustainable wealth is to invest in companies with solid business models and hold them for the long term. The Trade Desk, Tesla and Tandem Diabetes are great places to park your money well beyond the stimulus check. Not comfortable investing in individual stocks? This large-cap growth index fund may be a great match.
Do you have better stock ideas? Please share with us in the comment section.
Disclosure: We do not hold any positions in the stocks listed. We may initiate positions in TTD, TDM or TSLA in the future. We wrote this article ourselves. It expresses our opinions. We do not receive compensation from the companies highlighted, nor do we have any business relationships with those companies. All data is current as of 04/14/2020, 10:30 PM EST. This article contains affiliated links to investment products. We may receive a commission through these links when you join the partner. Our full disclaimer.