SHOP - Worried About Rising Interest Rates? These 2 Growth Stocks Could Offer a Solution
Interest rates have been on the rise this year, and inflation still remains a big problem for the federal government. In September, the inflation rate was 8.2%, which is lower than it was in the previous month, but it's nowhere near the Fed's goal of 2%. What that tells investors is that more rate hikes are likely coming.
While that may have you worried about the markets, there are some businesses that should remain good buys throughout this tumultuous period. Exelixis (NASDAQ: EXEL) and Shopify (NYSE: SHOP) are two stocks that don't have debt problems and possess plenty of upside, making them not just safe buys but also potentially bargain investments as well.
Exelixis is a healthcare company that develops treatments targeting multiple types of cancers. Key to its business is Cabometyx, which treats advanced renal cell carcinoma. Through the first six months of the year, the company generated $642 million in revenue from Cabometyx, which was a 29% increase from the prior-year period. That was also nearly all of the $657 million in net product revenue the company generated during that period.
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Worried About Rising Interest Rates? These 2 Growth Stocks Could Offer a Solution