3 Stocks Performing Better Than Dogecoin

Growth stocks may be down, but not out. If you want to invest and see returns similar to Dogecoin, consider these stocks to buy today!

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Dogecoin has been on fire recently. Shares of the cryptocurrency exploded this year with the rise of other cryptocurrency companies like Bitcoin and Ethereum. Thus far in 2021 alone, Dogecoin is up an incredible 8,100% as of writing. But guess what? There are other companies doing just as well, if not better, than Dogecoin. So let’s look at a few.

WELL Health stock

A few companies climbed to new heights during the pandemic, and one of those was WELL Health Technologies (TSX:WELL). The telehealth company has been growing through acquisitions at a rapid pace, sending shares soaring higher and higher.

Since coming on the market, WELL Health stock has risen by about 4,500%. But that’s after coming down after the pandemic-recovery pullback, when the stock was closer to 6,000%. And here’s why it’s better than Dogecoin. WELL Health stock will continue to grow as revenue increases, buys up more acquisitions, and receives even more revenue. In this sense, it’s very similar to utility companies that use the same strategy. Dogecoin, on the other hand, is simply whatever people believe it to be worth.

WELL Health stock is bound to keep climbing as the company continues with its expansion into the United States. It continues to see revenue climb, most recently at a 53% increase year over year. Yet the stock is still cheap, trading at $7.25 as of writing.

HIVE stock

Since changing from mining gold to mining cryptocurrency, HIVE Blockchain Technologies (TSXV:HIVE) has seen a huge recovery. Shares climbed about 1,600% in the last year alone! Yet again, there is a pullback as the market looks to stabilize.

But if you’re into Dogecoin, you’ll want to get into this company. HIVE stock is perfect for cryptocurrency investors as it mines and sells stored cryptocurrency. So whether you buy Bitcoin, Ethereum, or Dogecoin, it doesn’t matter. HIVE stock will store and sell it.

And again, it’s on the growth path. It recently purchased further data-storage facilities and invested in companies that will help this growth. As cryptocurrency continues to explode, investors would do well to invest in HIVE stock that’s still at a cheap price of only $3.75!

Shopify stock

Yes, Shopify (TSX:SHOP)(NYSE:SHOP) is expensive, but it has a right to be. The e-commerce giant continues to grow rapidly and it’s hard for anyone else to keep up. The beauty is that it has an endless supply of merchants, big and small, continuing to climb on board. The pandemic proved this, and while revenue may slow, it certainly isn’t about to drop.

Shares in Shopify stock are up just 28% in the last year, but a whopping 4,200% since coming on the market. And just like these other companies, it merely relies on usage and not a relatively arbitrary worth like Dogecoin. Shopify continues to find new ways of bringing in revenue and cutting costs. It keeps breaking record after record, quarter after quarter.

So during this market pullback where Shopify stock dropped 27%, I would definitely see it as an opportunity before it passes $2,000 per share. As of writing, you can pick it up for about $1,340.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Amy Legate-Wolfe owns shares of Shopify and WELL Health Technologies. Tom Gardner owns shares of Shopify. The Motley Fool owns shares of and recommends Shopify and Shopify and recommends the following options: long January 2023 $1140 calls on Shopify and short January 2023 $1160 calls on Shopify.

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