Top 10 Growth Stocks to Buy for June 2024

Growth stocks are publicly traded companies that return over 15% CAGR annually. These are the best stocks to grow your investment account fast!

Classic examples of growth stocks are Apple (APPL), Amazon (AMZN), and Tesla (TSLA).

Best Growth Stocks

Company YTD Price Performance
Chewy (CHWY) 66%
DraftKings (DKNG) 281%
Match Group (MTCH) 19%
Netflix (NFLX) 39%
Nikola Motor (NKLA) 556%
Shopify (SHOP) 117%
Solaredge (SEDG) 58%
Tesla (TSLA) 139% (WIX) 89%
Zoom Video (ZM) 255%

Chewy (NYSE: CHWY) – Pet Food & Supplies E-commerce Store

The fast growing pet food & supplies e-commerce seller launched their IPO at $22 in June 2019 and have grown a ton since then. Chewy is a pure play on the growing e-commerce retail markets and more families owning pets and taking care of them.

Draftkings (NASDAQ: DKNG) – Sports Betting & Online Gambling Site

Draftkings launched their IPO in April 2020 at around $20 in a SPAC deal. The company operates the largest sportsbook and daily fantasy betting website in America. As sports come back post COVID-19, things look bright for this young company.

Match Group (NASDAQ: MTCH) – Online Dating & Matchmaking Company

Match owns Tinder, the world’s most popular online dating app, and runs several other big dating sites as well. The company continues to grow with a healthy profit margin and strong ROE (return on equity). People will always look for love so this looks like a great long term buy and hold.

Netflix (NASDAQ: NFLX) – On Demand TV & Movie Stream Company

Netflix is well known as a leading digital stream company and boasts a whopping 193 million subscribers as of Q2 2020. The company continues to grow with a crazy high 40% CAGR over the last 10 years. This is another great buy and hold stock for growth investors.

Nikola Motor (NASDAQ: NKLA) – Heavy Duty EV Truck Seller

Nikola is the only company on this list that hasn’t generated revenue but they announced more than 14k preorders for their heavy duty EV trucks to some big companies. The company has great potential and EV companies will crush it this decade.

Shopify (NYSE: SHOP) – Online E-commerce Software Company

E-commerce stocks are red hot and Shopify is one of the clear winners during the COVID-10 pandemic. As more people shop online, Shopify will empower merchants to start their own e-commerce store and generate revenue. Strong buy.

Solaredge (NADAQ: SEDG) – Solar Power Panel Comapny

Solaredge produces solar panels to power residential & corporate buildings. The company is in a massive growth phase as we transition from oil to solar as our dominant energy choice.

Tesla (NASDAQ: TSLA) – Electric Car & Solar Panel Company

Tesla is now the world’s largest car company with a massive $400 billion market cap. The company has grown revenue every year since 2008 to overall $24 billion and counting. Things look bright for this electric car company. (NASDAQ: WIX) – Online Website & E-commerce Store Platform

The Israeli based company just grossed $10 billion in market cap and grew revenue 24% in Q1 2020 to $216 million. Demand for online services has exploded post COVID-19 and I think Wix will continue to grow although it’s not profitable yet.

Zoom Communications (NADAQ: ZM) – Online Video Conferencing Company

Zoom has exploded over the first half of 2020 as people use video conferencing to keep in touch during the pandemic. While I expect video conferencing to cool off once the economy resets, many people will remain on board to save time & money commuting to meetings.

How to Buy High Growth Stocks

You can purchase these stocks on popular trading apps like Robinhood or Webull.

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