2023-04-20 06:42:00 ET
Are you looking for stocks that can help you earn solid returns in the long run while ensuring that your capital is protected from huge drawdowns? If so, it makes sense to put your money into stocks riding secular tailwinds in high-growth areas such as cybersecurity, big data, and observability. Since these services are critical for the smooth functioning of businesses, these investments can prove to be quite resilient in the current uncertain macroeconomic environment.
Investors can put as little as $500 -- money which is not required to cover contingencies or expenses -- in each of the high-quality companies such as Okta (NASDAQ: OKTA) and Splunk (NASDAQ: SPLK) to start building wealth now.
The first no-brainer stock to buy with $500 capital is leading cloud-native identity and access management player Okta. It's already been a force to reckon with in workforce identity management -- verifying employee identities to govern data and system access while preventing insider threats. Now Okta has strengthened its position in customer identity and access management by acquiring competitor Auth0 in May 2021. The company now estimates its total addressable market to be $80 billion. With an annual run rate of just $2 billion, there is still much runway ahead.
For further details see:
2 No-Brainer Stocks to Buy With $500 Right Now