Even in a still-challenging macro environment, you can make your money work for you and gradually move closer to your financial goals. Investing in stocks can be a great way to boost your portfolio and compound returns that add to your wealth-building journey through the years.
If you have $3,000 to invest — money that you don’t need for near-term financial obligations and can leave in your portfolio for several years at least — here are two phenomenal growth stocks to consider.
1. Fiverr
Fiverr International (NYSE: FVRR) is witnessing a surge of growth as the freelance platform capitalizes on the ways that artificial intelligence (AI) is changing the gig economy. You could be forgiven for wondering how a company that revolves around facilitating the relationship between buyers and sellers of freelance services would fare amid the AI revolution.
While it’s still early days, Fiverr’s moves to refine its services so that buyers find the help they want and freelancers can cater to buyers’ changing needs seem to be paying off handsomely. The company has added a growing collection of AI-driven services over the last year. These include not only new categories of AI-centric skills that freelancers can offer, but also the launch of services like Fiverr Neo, which uses AI to match buyers and sellers for projects.
Management estimates that AI drove a 4% lift to business in 2024, noting that buyers are focusing more on complex services over simple services. Buyers can be anyone from individuals to large businesses.
Complex services are those that require a person to deliver an end result, but where AI can help drive better efficiency. One example would be mobile app development.
Simple services include jobs like translation or voice-over work that Fiverr management estimates are more likely to experience shifts from the adoption of AI.
With Fiverr buyers focusing more on complex services, these are becoming a larger driver of its business, an important sign that it doesn’t have to be too reliant on growth from simple services. In fact, about 32% of the platform’s gross…
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