Don’t have a fortune to invest? Nowadays, with many brokerages offering trades for small fees or none at all, there’s plenty of incentive to invest with just about any amount.
If you don’t need to worry about fees, you can contribute to your portfolio as slowly or as quickly as you need to. Three growth stocks that are attractive buys and that trade for less than $100 right now are Shopify (NYSE: SHOP), Palantir Technologies (NYSE: PLTR), and Pfizer (NYSE: PFE). Here’s why you should consider adding them to your portfolio today.
1. Shopify
E-commerce company Shopify is an attractive investment because of its potential growth and its beaten-down valuation. At over $100 billion in market cap, it has proved that it can compete alongside Amazon and that it isn’t in danger of going anywhere.
Shopify is in 175 countries, and there are 1.75 million merchants who rely on it to sell products and services.
The stock is trading around $81, which is nowhere near the levels it reached in 2021, when its share price was more than $170. That doesn’t mean that Shopify’s stock will double in the near future. But given the company’s vast global presence, it could be in a great position to benefit from stronger economic conditions.
In its most recent quarterly results, for the period ending Sept. 30, 2023, revenue totaled $1.7 billion and grew by 25% from the prior-year period. The company also continued to rebound from a tough year in 2022, posting a profit of $718 million during the period (versus a loss of $159 million a year earlier).
All in all, Shopify’s stock has slowed down in recent years, but its long-term trajectory remains promising. This is a solid stock to buy and forget about.
2. Palantir Technologies
Palantir’s stock is trading at about $17. The company has grown in popularity over the years for its counterterrorism software, which many governments rely on.
And recently, the excitement surrounding artificial intelligence (AI) has investors bullish on this data and analytics business. It opens up many more doors for Palantir because its AI platform (AIP) will have many…
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