STAA - 2 Ravenously Growing Stocks to Buy and Hold No Matter What
If there's a single word that encapsulates what most investors want from their stocks, it's growth, growth, and even more growth. And even amid a market downturn, inflation, and issues with the global supply chain, the good news is that there are plenty of places to find monster growth, as long as you're willing to accept some risk.
On that note, there are a pair of medical device companies that are expanding ravenously despite underperforming the market over the last 12 months. What's more, there's little to stop them from continuing to gobble up their markets over the next decade and perhaps even beyond. Neither stock is cheap, but there's not much reason to expect a discount anytime soon, so let's take a look at both to see why they're worth buying and holding for as long as you can stomach.
When it comes to businesses that have the potential to profitably penetrate massive international markets in the coming decades, STAAR Surgical (NASDAQ: STAA) should be one of the first that springs to mind. Its Implantable Collamer Lens (ICL) technology can be thought of as a semi-permanent solution to nearsightedness, putting the lenses in direct competition with eyeglasses and contact lenses. As they're implantable, people don't need to worry about dry eyes, smudged lenses, or accidentally losing a contact with ICLs. And, with the number of people needing vision correction predicted by the company's management to grow to reach a stunning sum of nearly half of the global human population by 2050, it's safe to say that its market is nowhere close to drying up or getting too crowded.
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2 Ravenously Growing Stocks to Buy and Hold No Matter What