TBK - 1 Growth Stock That's Down 40% but Has Monster Potential
Triumph Bancorp (NASDAQ: TBK) , a $6 billion asset bank based in Dallas, Texas, has seen its stock plummet by roughly 40% this year. It's certainly not the only stock in today's market to suffer in the face of rising bond yields, the Federal Reserve's tightening monetary policies, high inflation, and Russia's invasion of Ukraine. But if you look under the hood of this small bank, you'll find a company that is revolutionizing how the trucking industry does business. Particularly in the wake of its recent declines, I see Triumph Bancorp as a growth stock with monster potential.
Triumph Bancorp started serving the trucking industry by participating in the factoring business -- it purchased truckers' invoices in advance of payment to provide them with liquidity. Because they buy those invoices at a discount, factoring companies then make a nice profit once the shipping company or freight broker pays what they owe. However, while doing this, Triumph saw just how inefficient the payments process was between truckers, factoring companies, freight brokers, and shippers, and recognized that there was a much bigger opportunity. So it created a payments platform called TriumphPay that streamlines and automates the entire process.
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1 Growth Stock That's Down 40%, but Has Monster Potential