A Bull Market Is Here: 1 Growth Stock to Buy and Hold For 10 Years
With the S&P 500 recently hitting a brand-new high, debates about whether we are in a bull market are officially over. We are. Technically, this bull run started more than a year ago when the index hit its most recent low.
It's anyone's guess how much longer this bull market will last, but whatever the answer is, it's a good idea to invest in stocks that are likely to perform well beyond it. Veeva Systems (NYSE: VEEV) is one such stock. Let's consider why this growth stock is an excellent investment for the next decade.
Veeva Systems offers cloud-based tools to life science companies. The importance of Veeva's services for its clients can hardly be overstated. The life sciences industry is heavily regulated. Drugmakers take years to get from proof of concept to the final regulatory approval that allows them to launch their products. Veeva offers the tools to keep track of valuable data and comply with regulations. The company has become one of the leaders in this small niche of the massive cloud computing industry.
Source Fool.com
