These stocks have been on a complete rocket in 2020.
There are few things as sweet as buying into a stock while it’s down and holding on to it as it skyrockets. It is rewarding to sit back and just watch your money make more money for you. It must be said that stocks like these aren’t the norm and good investors are still very long term oriented. However, let us take a look at 5 stocks that have been on a complete rocket in 2020.
CrowdStrike is a cybersecurity technology company that provides endpoint security and cyber-attack response services. Although there are many players in the cybersecurity field, CrowdStrike has a long track record of growth. Its subscription customer base already posted a 100% year-over-year increase even before remote work became the trend and cybersecurity became the central part of corporate risk management. The company’s Q2 2020 earnings results saw its numbers exceed expectations because of increased demand for cloud-based security solutions. Its Q2 revenue rose 84% to $199 million vs $188.5 million expected by analysts.
Fastly is a cloud computing services provider. It offers a content delivery network, internet security services, and video & streaming services. The push to remote work environments and online consumption has made Fastly’s offerings even more relevant. Shopify, Etsy, Yelp and Pinterest are some of the many prominent companies that use Fastly’s services. According to Wall Street estimates, Fastly is expected to have more than tripled its full-year sales from $200 million in 2019 to $614 in 2023.
Square is arguably the fastest-growing tech stock on the market right now; it is already up more than 150% year-to-date and it has climbed about 11.1% since the company reported Q2 earnings in August. Square Inc is a financial services, merchant services aggregator and mobile payment company. It was co-founded by Twitter’s CEO, Jack Dorsey. Between 2012-2019, the number of payments processed on Square’s network jumped from $6.5 billion to $106.2 billion. Even more interesting is the growth in Square’s Cash App. Over the past two and a half years, the monthly active user count on Cash App has soared from 7 million to over 30 million. Cash App allows Square to generate income through bitcoin exchange and investments. With its growth rate, Cash App will likely become Square’s most prominent profit puppy within the next few years. Wall Street also estimates that Square will bring in $12.4 billion in sales by 2023.
Sea Limited is a mobile video game publisher, e-commerce company and digital payments player all in one. The stock has been one of the hottest stocks in 2020. Sea Limited is domiciled in SouthEast Asia which is one of the fastest-growing markets for internet usage and digitization. The company’s e-commerce division is its most remarkable division so far, as it has shown impressive growth in a very short amount of time, and surpassed other competitors in the region. Sea Limited currently has a market cap of $77 billion. In its Q2 2020 earnings results, revenue from the company’s e-commerce division alone grew 187.8% to $510.6 million.
(video gamers will love this one)
Activision is a video game maker of titles like Call of Duty and World of Warcraft. The Video game industry has been on fire in 2020 and Activision is one of the companies poised to benefit from this rise. The stock has soared by about 35% this year and is set to climb more because of new releases in its Call of Duty franchise. Activision is touted as one stock that will meet and even possibly exceed, the overall industry growth rate because of its compelling business model and long-term growth drivers. Market research company, NDP Group, said that video game sales rose 30% in Q2 to 11.6 billion and Activision’s Call of Duty: Modern Warfare and Warzone were among the best performing titles in the quarter. This helped the company grow its revenue 38% year over year to $1.9 billion.
The best part about all this is that you do not need a truckload of money to buy into any or all of these stocks and reap the benefits of what could be a powerful and long-lasting rally of these high growth stocks. None of these stocks is up to $200. Even better, Bamboo offers fractional stock trading that allows you to buy into stocks with whatever amount you have. So, you really do not have any excuse. Either you get on the train or you get left behind.
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