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2 Hyper-Growth Stocks Under $50 to Buy in June 2021

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The market has been unpredictably bullish of late. Indeed, investors are pricing in an economic recovery to a degree many didn’t expect.

Some stocks are undeserving of these valuations. However, others may be decent buys at these levels.

Here are two hyper-growth stocks that have seen tremendous growth of late that may have more growth on the horizon.

BlackBerry

As far as stocks that have seen explosive growth this year, BlackBerry (TSX:BB)(NYSE:BB) certainly makes the list.

Unfortunately for investors, this explosive growth has come alongside explosive volatility and downside from time to time.

Why?

Well, BlackBerry has been entrenched in the meme stock trade of late. Retail investors have poured into this stock in a way that many didn’t expect coming into this year. However, here we are.

Now, whether all of the increase in BlackBerry stock of late is due to pure speculation remains to be seen. There are some key fundamental reasons for long-term investors to buy BlackBerry stock at this level.

The company’s growth prospects remain brighter than they have in some time. BlackBerry’s potential as a strategic investment given its recent high-profile partnerships make this stock one worth watching right now.

While I think more near-term volatility is likely to take place, BlackBerry remains on my long-term investment watch list right now.

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Spin Master

As far as growth stocks go, Spin Master (TSX:TOY) may seem like an odd choice to include on this list. After all, the company is primarily a toy maker, focused on the children’s entertainment space.

I say “primarily,” because this company has recently made some intriguing investments. Spin master has increasingly focused on the digital gaming segment for growth. And growth is one thing this company has provided in spades.

In fact, Spin Master’s digital gaming segment saw jaw-dropping growth of 400% year over year, according to its recent results. Indeed, if Spin Master can keep up this pace, this stock could grow into one of the giants in the digital gaming space, particularly among Canadian stocks.

Let’s not get too far ahead of ourselves.

However, Spin Master’s portfolio of IP and brands is truly impressive. The company has found a way to innovate and create new experiences for its audience in a way that has impressed many investors. I remain bullish on this stock and would suggest all long-term investors consider Spin Master at these levels. It may not be this cheap for very long.

Like these hyper-growth plays? Here are a few more great options to choose from:

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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 Chris MacDonald has no position in any stocks mentioned in this article. The Motley Fool owns shares of and recommends Spin Master Corp. The Motley Fool recommends BlackBerry.

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