Got $10,000? These 3 Top Growth Stocks Could Set You Up for Life
If I could pick a single phrase to describe the events of this year, "expect the unexpected" is the first that comes to mind. The economic volatility induced by the pandemic is particularly evident when we look at the stock market. Earlier this year, travel and retail stocks plummeted while high-growth stocks associated with the new stay-at-home norm, like Teladoc Health (NYSE: TDOC), Zoom Video (NASDAQ: ZM), and Adobe (NASDAQ: ADBE), hit all-time highs.
Then on Monday, pharmaceutical giant Pfizer (NYSE: PFE) announced that interim late-stage trial data showed its coronavirus vaccine candidate was more than 90% effective in the prevention of infection of COVID-19. Popular lockdown stocks dropped significantly in a matter of hours, while previously hard-hit sectors like airline and cruise stocks saw gains. Is this the beginning of the end for stay-at-home stocks? I would argue that it's not.
While this vaccine news is hopeful, the reality of near-term supply constraints combined with cold storage concerns means that most of us likely won't have access to a vaccine for many months to come, even if one is released before year's end. Furthermore, while it's true that some trendy coronavirus stocks may lack the underlying fundamentals to sustain meaningful long-term growth, Teladoc, Zoom, and Adobe were all clear winners pre-pandemic. Here's why adding shares of these three stocks to your portfolio could help set you up for life.
Source Fool.com
