These growth stocks are up 68% and 87% this year alone!

While 2020 may have been the year of growth for stocks, this year has not exactly been a lag. It can certainly be harder to find, but there are growth stocks on the market. TSX today in the high double digits just for this year.

So today we are going to take a look at two of those companies, Trading at the speed of light (TSX: LSPD)(New York Stock Exchange: LSPD) and Cameco (TSX: CCO)(New York Stock Exchange: CCJ). Every company has exploded this year, but let’s take a look at why. After all, growth stocks are excellent. But sustainability is better.

Light speed stock: 68%

Lightspeed shares are up 68% so far this year as of this writing. The ecommerce company has had an incredible year, and not just because of the growth in stocks, though of course that’s connected. The company has been spending a lot, acquiring e-commerce related businesses around the world. And all of this fuels your terrain and your pitching approach.

Rather than trying to become a major player in a huge market, Lightspeed stocks are trying to win back every other market. That is why it is fast becoming one of the growth stocks to watch out for. In the past year, the stock is up 276%, and since its initial public offering, it’s up 698% as of this writing!

Now the interesting thing is that other ecommerce companies have also experienced this hypergrowth in the past. So what Really Interesting to Motley Fool investors is that its peers in the same industry have exploded into four-digit growth, in percentage terms. So you may just be witnessing the starting for this action.

Cameco Stock: 87%

Now another company that has been around for much longer but with much more drama is the action of Cameco. It’s one of the growth stocks in the uranium mining industry that went through the roof and then crashed after the Fukushima nuclear disaster. Since then, uranium has fought for this producer. However, that seems to be changing due to a variety of factors.

First, there is the obvious. Nuclear power is a clean energy source in which many, including President Joe Biden, have an interest. Uranium growth stocks will soon reach a price of $ 60 a pound, a turning point for Cameco shares. But the company actually reported a loss of $ 32 million during the last quarter, and this comes from the closure of its Cigar Lake mine due to wildfires. So why the jump?

In short: meme actions. Yes, they are back and they are messing with the uranium. Of course, uranium is a hefty investment. Especially in a clean energy future. But right now investors should be very careful. Stocks are up 64% in the past three weeks as retail traders on Reddit’s WallStreetBets channel continue to claim another victim. There could be another little squeeze in the future. So it might be best to wait for these uranium growth stocks to cool down before investing long-term.

Silly takeout

There are still plenty of high-growth stocks to invest in these days, even as they break all-time highs. But Motley Fool investors should always be careful. Make sure you buy a company because you believe in its essence business model – not necessarily just because it’s a popular option these days.

This article represents the opinion of the author, which may disagree with the “official” recommendation position of a Motley Fool advisor or premium service. We are Motley! Questioning an investment thesis, even one of our own, helps us all to think critically about investing and make decisions that help us be smarter, happier, and wealthier, which is why we sometimes post articles that may not be online. with recommendations, ratings or other content. .

Silly contributor Amy Legate-Wolfe owns stock in Lightspeed POS Inc. The Motley Fool owns stock in and recommends Lightspeed POS Inc.

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