2 Growth Stocks That Can Soar By 160% to 700%, According to Wall Street

The U.S. equity market continued its bull rally throughout July and early August, despite the Federal Reserve resuming interest rate hikes. Major indexes such as the S 500, Nasdaq Composite, and Dow Jones Industrial Average have posted gains of 16%, 30%, and 6%, respectively, so far this year.

Much of this market optimism can be attributed to the exceptional resilience of the U.S. economy, despite tough macros. Investors are feeling increasingly confident in the Federal Reserve's ability to control inflation without causing a recession.

In such a bullish environment, it makes sense for retail investors to pick up small positions in fundamentally strong growth stocks. Here's why Tesla (NASDAQ: TSLA) and Lemonade (NYSE: LMND) can prove to be good picks in the current environment.

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Source Fool.com