MELI - A Nasdaq Bull Market Is Coming: 2 No-Brainer Growth Stocks to Buy With $3000 Right Now
2023-09-07 05:21:00 ET
The Nasdaq Composite has ripped 33% higher this year as evidence of economic resilience reinvigorated investors. The index is now just 13% from a record high, a threshold that signals the onset of a new bull market, which itself hints at more prodigious gains in the coming years.
The Nasdaq is often seen as a barometer for growth stocks due to its technology-heavy composition, but investors would do well to remember that growth and value are not mutually exclusive. In fact, the best investments generally fit both categories. A company that lacks growth prospects will find it hard to create value for shareholders, but even the fastest-growing company would be a bad investment at the wrong price.
When those qualities come together -- meaningful growth prospects at a reasonable valuation -- the result is a no-brainer buying opportunity. Roku (NASDAQ: ROKU) and MercadoLibre (NASDAQ: MELI) currently fit that description, and if I had $3,000 available to invest that isn't needed for monthly bills, to pay off short-term debt, or to bolster an emergency fund, I would split it evenly across these two stocks right now.
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A Nasdaq Bull Market Is Coming: 2 No-Brainer Growth Stocks to Buy With $3,000 Right Now