It’s time to explore some lesser-known investment opportunities.
Are you considering refreshing your investment portfolio? This can be challenging at the moment, as many once-promising stocks may no longer offer significant potential. It’s essential to identify companies with bright prospects moving forward.
Here’s a look at three top investment options if you have $1,000 in idle capital that you want to put to good use right away.
1. Shopify
Amazon has undeniably shaped the North American e-commerce landscape. However, its vast size has become both an asset and a liability, leading to competition with its third-party sellers and challenges in managing counterfeit products and fake reviews. Consequently, brands are looking for alternative platforms.
That’s where Shopify (SHOP 3.36%) steps in. Shopify empowers brands and businesses of all sizes to create and manage their own online stores, enabling direct customer relationships without a middleman like Amazon. This approach fosters authenticity and storytelling that can’t thrive in a large marketplace. Last year, Shopify facilitated sales of $292.3 billion, marking a 24% increase year-over-year, and generated $8.9 billion in revenue, with nearly $1.6 billion in free cash flow.
2. CRISPR Therapeutics
Investing in established biotech stocks can be challenging, especially when a company is rooted in newer biotechnology. This complexity makes investor sentiment towards CRISPR Therapeutics (CRSP 3.12%) fluctuating. However, a broader perspective reveals a clearer picture.
CRISPR’s technology, developed in part by one of its co-founders, has led to the creation of an approved drug for sickle cell disease. With extensive potential in cancer treatment and other areas, the CRISPR-based drug market could boom from under $5 billion to over $13 billion by 2034. Currently, CRISPR Therapeutics has five clinical trials ongoing, showcasing strong promise.
3. Confluent
Lastly, consider adding Confluent (CFLT -0.19%) to your investment roster. In today’s digital age, extensive data creation necessitates effective data management solutions. Confluent provides data streaming services that transform data influx into valuable resources, allowing companies to operate more efficiently.
For instance, retail giants like Walmart rely on Confluent for real-time inventory updates. While it may not be a household name, its technology benefits numerous industries. Although the stock hasn’t seen much movement since its post-IPO dip in 2022, its profitability and expected sales growth of nearly 20% annually over the next three years suggest positive long-term prospects.
John Mackey, former CEO of Whole Foods Market, which is now an Amazon subsidiary, serves on The Motley Fool’s board. James Brumley holds no positions in the mentioned stocks. The Motley Fool invests in and recommends Amazon, CRISPR Therapeutics, Shopify, and Walmart, as well as Capital One Financial and Confluent. For more details, see their disclosure policy.
