Top Stocks You Should Invest In Right Now

In the past month, the NASDAQ 100 experienced a 10% decline. Looking at the poor stock performance, many investors fear that the stock market crash induced by COVID-19 in 2020 may occur again.

While the government has been trying to stabilize the market by injecting funds into the economy through relief packages consisting of stimulus checks, investors can also look forward to impending market corrections. Here are the top stocks you should consider investing in right now:

Tesla

Now is the best time to go long on Tesla’s stock. Currently, Tesla manufactures the only electric vehicle in the market, the Tesla Model 3, that meets consumer specifications in terms of maximum range, cost, acceleration rate, and time to recharge. In the last quarter of 2020, Tesla delivered 180,667 cars, a 61% increase over 2019’s quarter, without any excess inventory.

Additionally, Tesla also increased its annual 2020 revenue by 28% ($31.5 billion) and net income by 6,719% ($2.5 billion). It also deployed a record number of connectors, supercharger stations, and solar panels. Currently, Tesla can manufacture up to 1.05 million vehicles per year, each with autopilot and full self-driving capacities.

That’s not all—its stock is trading at 21 times the revenue, a third cheaper than its highest valuation ever.

Shopify

Shopify is an innovative e-commerce platform offering merchants payment solutions, financing, store design, and shipping options to help them start their businesses. Shopify is the second-largest retail e-commerce giant in the US, holding an 8.6% market share. Although that’s far behind Amazon’s 39% stake in the industry, Shopify is rapidly growing its market foothold.

In 2020, Shopify’s revenue increased to $2.93 billion, an 86% growth from 2019. The company grew its earnings per share (EPS) by 1,227% in the last year to $3.98. Considering its extraordinary growth, paying 46 times the company’s revenue is justifiable. With Shopify down by 24% from its all-time highs in the past month, now is the best time to invest in this stock.

Teladoc is another stock expected to witness exponential growth this year.