3 Top Stocks That Could Make You A Millionaire

7 Min Read
Last Updated July 23rd 2021

Invest In These 3 Unstoppable Stocks

With stock market investments, becoming a millionaire is not merely a pipe dream but a feasible option, even for those with very modest means.

The year 2020 has shown what volatility is and how things can go upside down overnight. Though it increased unemployment rates, the year of the pandemic and the bear markets were undoubtedly the best time to invest your money. Bull markets lasted for the long haul compared to bear markets. Patient investors allowed their investments to play out over the year and found out stocks that could make you a millionaire even during uncertain times. 

The perennial question that pops up now is, where to invest and what are the best stocks that can fulfill the dreams of being a millionaire for the long haul. Here are the three best stocks to turn your millionaire dreams into reality. Relatively these stocks have the innovation and intangibility to ensure long-term investments and growth potential. 

 

The Top 3 Best Stocks That Could Make You A Millionaire

1. Pinterest 

Pinterest, founded in 2010, became a public company after nine years. Being a social media company running the business was not an easy cakewalk, but it was quite tough during these uncertain times. It was indeed a rollercoaster ride of up and downs for Pinterest with seemingly a great start but a disappointing third-quarter followed by a more robust Q4.

During the Covid-19 outbreak, the stock soared to almost 500% from March's low rate. Thus, for investors, Pinterest is indeed a stock with bags of potential. 

Pinterest is used by almost 60% of millennials, creating a good strength by its ad-based revenue. This helped Pinterest to soar to a record of $443 million in the Q3 stage in total revenue. The evidence for the strength of the bull case for Pinterest is seen in its monthly active users(MUA's). Over the past years, including the pandemic days, they have added 116 million users, soaring its MAU to 416 million, which is an increase of 39%. 

More than 90% of new users are coming from international markets, which is indeed a significant factor to note as it helped Pinterest in doubling their international ARPU(Average Revenue Per User). Recessions in Pinterest are very low, signifying that overseas users are an expected source of long-term growth. 

The proliferate e-commerce presence is the most intriguing catalyst for Pinterest. The company attempts to connect its users with small businesses that specialize in products and services that cater to their interests. With an independent platform for users to share their interests, Pinterest further spreads its branch by connecting its users to various other services.

The Shopify partnership and several other integrated features like clickable shop buttons and engaging video ads, etc., allows Pinterest to have a consistent double-digit annual growth potential. According to researchers, by 2023, this will easily surpass $100 billion in the market, making it a lucrative stock market for investors worldwide. 

2. Teladoc Health 

Teladoc health has been one of the unambiguous beneficiaries of the Covid-19 crisis. The need to maintain social distancing and the impending fear of spreading the virus has led to a rapid increase in telehealth visitors for subscribers and non-subscribers on the Teladoc network. This has created a revolutionary change in its business revenue, and now the telemedicine giant is packed with brilliant tools to make you a millionaire. 

Teladoc completed its multibillion-dollar acquisition of the premier digital diabetes management company, Livongo Health, in addition to the upsurge in their sales. This has propelled its stock to an all-time new high, ranking it on top of the vendor's favourite list. Both Teladoc Health and Livongo Health are merging in a cash-and-stock deal.

Livongo's healthcare solutions provide patients with chronic health conditions an opportunity to live a healthier life. Even though it only signed up 1.2% of all diabetics in the United States, Livongo's diabetes count has incessantly doubled on a year-over-year basis. The company has also generated three consecutive quarterly profits. With its expansion into new indications like weight management and hypertension, its potential patient pool will surge higher, increasing its value in the market. This deadly combination of Teladoc and Livongo will be the future face of precision medicine and are stocks that could make you a millionaire. 

The virtual care market is growing at a full-tilt pace, and by 2023 Teladoc and Livongo expect to generate more than $3 billion in sales and over $600 million in operating income less non-cash expenses, as mentioned by a report. 

3. Square

The world is moving towards cashless transactions, and this trend will be one of the most powerful and fast-growing ones in the coming decades. Visa and Mastercard will continue to play a significant role in credit and debit transactions. But the payment and point-of-sale solutions company Square offers promising growth and is a significant stock for the coming years. Over the last five years, its revenue has grown at a compound annual growth rate of 40.9%, with stellar sales up to 140% year over year. 

In 2012 the company's seller ecosystem gross payment volume(GPV) had grown from $6.5 billion to $106.2 billion in 2019. There are two trends to show that Square's seller ecosystem will continue to hit heights even during uncertain times. One is the durability of economic expansion compared to contractions, which bode well for consumer spending. The second factor is that Square gets its GPV from larger businesses with at least $125,000 in annualized GPV. As a small- business payment facilitator, if making inroads with larger enterprises is possible, then its merchant fees will hit unending heights. 

Square's peer-to-peer payment platform, Cash App, plays a vital role in its current growth. Cash App's monthly active user(MUA) count soared from 7 million to over 30 million between December 2017 and June 2020. The balance transferred is expedited when a user uses a traditional debit card linked to an individual's Cash App balance to buy goods or services. This is how Square generates a big chunk of their revenue from Cash App. With a worth of more than $100 billion, analysts expect a 38% annual growth in earnings per share over the next five years, making it an ideal ground to consider investing as the stock could make you a millionaire. 

 

In Conclusion

The stock market is indeed a fertile ground for investors to have a passive income and is a practical, most straightforward way to secure a well- funded future. These three unstoppable enterprises with a good growth rate and relatively significant market value are the best stocks that could make you a millionaire for the long haul. 

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