2023-11-29 08:30:00 ET
The stock market averages about 10 percent annual returns over the long term. If you wanted a stock to increase by 10X over 10 years, that would require an average annual return of 26%. Clearly, beating the stock market isn't easy. Stocks that do it generally must have a combination of stellar growth and a cheap valuation, which creates a launchpad for years of life-changing gains.
Healthcare company Hims & Hers Health (NYSE: HIMS) has grown impressively, and trades at prices you might call a bargain today. Here is why the stock could rise 10X over the next decade.
Hims & Hers is a digital healthcare company. Patients can meet with professional care providers on the company's website or smartphone app, receive prescriptions, buy over-the-counter products, and have them shipped to their home -- all within the company's platform. The company started with taboo categories like sexual health and hair loss, but has expanded to others like cardiovascular health and weight loss.
For further details see:
This Growth Stock Could 10x in 10 Years