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Got $3,000? 3 Game-Changing Stocks to Buy Right Now

Published 2020-10-01, 02:30 p/m
Got $3,000? 3 Game-Changing Stocks to Buy Right Now

Looking for some game-changing stocks to buy? Have some spare cash laying around? There’s probably never been a better time to go investment hunting. The following three stocks strike the perfect balance between growth potential and relative obscurity, which creates an opportunity for you.

Payments giant Nuvei (TSX:NVEI) stock has already delivered a 28.2% return since going public two weeks ago. That’s an incredible gain for a promising stock that doesn’t get as much attention as it probably should.

Nuvei is a payment processor, which means it is exposed to the ongoing e-commerce boom. However, Nuvei is larger than its Canadian rivals and probably one of the largest players in the world. Its operations are spread across North America, Europe, Asia Pacific, and Latin America. It also supports local and alternative payment methods, covering almost 150 currencies.

With access to the public markets, Nuvei can now fuel its expansion further through acquisitions. Last year, the company dropped $889 million to purchase a U.K.-based payments company. This year, the company is targeting Smart2Pay, a Dutch payments business. These acquisitions expand the platform and boost revenue, driving the stock ever higher.

Drone delivery When I heard that Jeff Bezos was experimenting with commercial drone delivery, I knew it had to be a great idea. After all, if the world’s most successful online seller believes drones can solve the last-mile logistics bottleneck, who am I to argue? This is why I invested a little money in Canadian startup Drone Delivery Canada (TSXV:FLT).

To be clear, Drone Delivery Canada is a tiny company that hasn’t registered any revenue yet. It’s still in a very nascent (some would say speculative) stage. However, it does have ongoing test contracts with a medical institution, Canada’s largest airline and a remote indigenous community in Ontario.

Most of the company’s recent tests have been successful, and the team is slowly expanding its fleet and improving the technology. A single contract could be the catalyst that sends this stock sky-rocketing. Once the top line starts growing, the company can self-fund acquisitions and dominate Canada’s skies for drone delivery.

It’s a multi-billion-dollar opportunity that’s flying under the radar for most investors. It’s an excellent stock to buy right now.

Online learning With everyone working from home, some digital startups are jumping to create better remote tools and platforms. Docebo (TSX:DCBO) is the perfect example. The company provides a cloud-based corporate learning management tool for the remote workforce.

Its recurring revenue grew at a compound annual growth rate (CAGR) of 69% over the past three years, while its average contract value has expanded by 2.7 times over the same period. This year’s pandemic has sent the company’s growth into hyperdrive. Unsurprisingly, the stock has nearly quintupled since late March this year.

This multi-bagger still has plenty of room to grow. With some companies claiming part of their workforce could be permanently remote, Docebo has enough runway to grow for many years more. Keep an eye on this stunning growth story as it evolves.

Bottom line If you’re looking for stocks to buy, the three growth stars on this list should probably be on your radar.

The post Got $3,000? 3 Game-Changing Stocks to Buy Right Now appeared first on The Motley Fool Canada.

Fool contributor Vishesh Raisinghani owns shares of Drone Delivery Canada.

The Motley Fool’s purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool Canada’s free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. Motley Fool Canada 2020

This Article Was First Published on The Motley Fool

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