CVNA - $5000 Invested In These Growth Stocks Could Make You Rich Over the Next 10 Years
2023-06-11 08:30:00 ET
To be a successful stock market investor, a good idea is to focus on businesses that have huge growth prospects. By getting in on these companies early in their lifecycles, shareholders could reap the rewards of much higher sales and profits. Of course, having a long-term time horizon to let things play out is critical to make any of this work.
With that being said, a $5,000 investment spread equally among the following three growth stocks could make you richer over the next decade. Here's why.
There's no doubt that Carvana (NYSE: CVNA) has hit a bit of a rough patch recently. Total revenue and units sold of $2.6 billion and 79,000, respectively, in the 2023 first quarter were both down 25% compared to the prior-year period. A combination of factors, like higher interest rates and general macro weakness, has pressured demand, to be sure. But Carvana's indebted balance sheet and lack of sustainable profitability hurts even more in times like now.
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$5,000 Invested In These Growth Stocks Could Make You Rich Over the Next 10 Years