Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.
Thanks to FinTech platforms, stock trading has never been more accessible. The variety of assets and stocks never more enticing. Even the market volatility is conducive to investors who know their craft. After the rise in Bitcoin, gold, silver, and pharmaceutical stocks, it’s time to look at the top long term stocks with high growth potential.
What are the Best Long Term Stocks Right Now?
The density of 2020 is still difficult to grasp. It seems a lifetime ago from February’s stock market crash.
Soon after, we witnessed a remarkable market rally not seen in over two decades. All amid the pandemic that drastically rearranged the economic landscape, social mores, which permanently shut down thousands of businesses. All of which pushed the Federal Reserve into record-breaking money-printing.
On top of all that, social and political tension continues to grow in intensity as we near one of the most polarizing presidential elections in the nation’s history. It’s as if instability is becoming the new normal. Paradoxically, this is just the ripe time for investment in cheap stocks that show a potential for 100% increase in sales.
However, investing in such rapid-growth stocks is not for day traders. Put aside a small amount of money you won’t miss in the immediate future, and prepare for high returns in a distant future. One that is at least five years ahead of us, but long enough to place COVID-19 behind us as a hazy nightmare.
Luckily, the use of smartphones has facilitated easy access to stock trading. There are a number of top stock trading apps that can get anyone set up to trade stocks in a matter of minutes.
So without further ado, let’s jump into the best long term stocks that show high potential beyond COVID-19.
Cresco Labs (OTC: CRLB.F)
The marijuana industry may still not be completely legal on a federal level, but everyone is under the impression this is only a matter of time. The drastic shift in the cultural perception of marijuana certainly warrants such perception. This is why speculators have put Cresco Labs as one of the top growers.
Cresco Labs is anticipated to increase its annual sales by 186% and top it off by a further 80% revenue increase next year. As this map shows, two-thirds of states have thus far legalized marijuana for medical use. In eleven states, marijuana has been approved for adult consumption and sale. In short, the trajectory is clearly in the direction of marijuana acquiring the status enjoyed by alcohol and tobacco.
As a multistate operator, Cresco Labs is particularly situated to benefit from the inevitable breaking of the legal dams. The company already holds eight dispensaries in Illinois, which has a projected marijuana sales figure of $1 billion by 2024. Moreover, at the beginning of 2020, Cresco Labs acquired Origin House, which allowed it to increase production and use the new distribution license for nearly 600 dispensaries in California.
Square (NYSE: SQ)
It may seem as if PayPal will hold the throne as the payment processing king forever. However, in recent years, PayPal has indulged in the heavy hand of deplatforming for ideological reasons. Needless to say, this creates a lot of bad publicity that opens up space for alternatives such as Square.
Square exceeded Wall Street estimates with its second-quarter earnings by $800 million, most of which came from Bitcoin trades. Surprisingly, Square reported 52% of its GPV coming from large businesses, despite its reputation of catering to small businesses. More importantly, Square achieved these landmark spurts of growth in the middle of the pandemic.
Livongo Health (NASDAQ: LVGO)
In a nation plagued with obesity, and dozens of chronic ailments that accompany it, it’s a safe bet to invest in a flexible healthcare company such as Livongo Health. This year alone, it’s projected to double its sales at a minimum, and quadruple them by 2023.
Moreover, its recent merger with Teladoc Health (NYSE: TDOC) complements telemedicine with Livongo’s excellent growth prospects for treating ongoing, chronic diseases such as diabetes, which Livongo increased by 113% from last year. As Livongo further expands into the treatment of other obesity-derived conditions, accompanied by telemedicine services, its prospect for growth is extremely appealing.
What do you think about the long-term future of the above-mentioned stocks? Let us know in the comments section below.
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