Investing doesn’t always require a hefty sum of money. By consistently investing small amounts and diversifying across different stocks, you can grow your wealth over time. It’s crucial to have a good understanding of the companies you invest in to make informed decisions.
Despite recent market fluctuations causing some investors to hesitate, you can still invest $200 in the stock market without risking your financial well-being. Long-term investors can identify opportunities to invest in quality companies regardless of market conditions. However, it’s essential not to invest money that you may need for essential expenses in the near future.
Here are two compelling growth stocks to consider if you have $200 to invest right now:
- Hims & Hers (NYSE: HIMS)
Hims & Hers has seen some volatility in its stock price recently, but it has still gained around 116% over the past year. The company operates a virtual care platform that offers subscription-based access to prescription and nonprescription products, as well as various healthcare resources and telehealth services. Hims & Hers recently started offering GLP-1 injections for chronic weight management at an affordable monthly price, further expanding its healthcare offerings.The company’s financials are impressive, with a significant increase in subscribers, revenue, profits, and cash flow. Hims & Hers reported 1.9 million subscribers and $315.6 million in revenue in the last quarter, marking a 52% year-over-year growth. With a focus on providing quality healthcare services and medications directly to consumers’ doorsteps, Hims & Hers is positioned for continued growth and investor returns.
- Shopify (NYSE: SHOP)
Shopify has faced challenges in recent years, including slowing growth and strategic changes. However, the company remains a leader in global e-commerce solutions. In the second quarter of 2024, Shopify reported a 22% increase in gross merchandise volume and a 21% rise in revenue. The growth was driven by increased subscriptions and new merchants joining the platform.Shopify’s free cash flow more than tripled compared to the previous year, and the company ended the quarter with a strong cash position. With a market-leading position in the e-commerce industry and a multitrillion-dollar addressable market, Shopify has significant growth potential. Investors looking for a long-term investment opportunity in a promising industry may consider adding Shopify to their portfolio.
Before investing in Hims & Hers Health or any other stock, it’s essential to conduct thorough research and consider the advice of financial experts. The Motley Fool’s Stock Advisor service provides valuable insights and recommendations for investors looking to build a successful portfolio. By staying informed and making well-informed investment decisions, you can potentially achieve significant returns over time.
This article was originally published by The Motley Fool and can be found at here.
