2 Growth Stocks You Can Buy Right Now With Less Than $100

It’s a good time to explore growth stocks for long-term wealth-creation potential. Take time to ease into your positions over 2023.

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Gone are the days when you need to have saved enough money to buy at least a single share in a common stock. Nowadays, investors can buy partial shares of common stocks commission free on Wealthsimple! This makes it simple and easy to build a diversified growth stock fund. It means you can invest as much or as little as you can afford to.

Capital tightening from higher interest rates have triggered a selloff in many growth stocks. It could be a good time to accumulate shares if you have a long-term investment horizon.

Nuvei stock

Nuvei (TSX:NVEI) is a payment technology partner its clients can rely on. Its customers can grow with its offerings of modular, flexible, and scalable solutions. Nuvei provides access to more than 200 markets, with local acquiring in 47 markets, 150 currencies, and 586 alternative payment methods, which support client growth locally or globally. Leading brands like New Balance, General Motors, WestJet, Riot Games, Bumble, etc. use Nuvei’s technologies.

The company has reported its results for the first nine months of 2022 so far. Revenue increased 22% to US$623 million, which was negatively impacted by a stronger U.S. dollar against other currencies. Based on constant currency, revenue growth would have been 27%.

The business stayed profitable, but its net income in the period fell 44% to US$52.6 million primarily due to an US$83.4 million increase in share-based payments. On a per-share basis, it was a drop of 47% to US$0.34. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization), a cash flow proxy, rose 18% to US$265.6 million. Adjusted earnings climbed 16% to US$206.2 million. Adjusted earnings per share rose 14% to US$1.39. Accounting for capital expenditure, adjusted EBITDA still climbed 11% to US$231.8 million.

The general analyst consensus across eight analysts believes Nuvei stock is on sale with a substantial discount of over 50% at $34.41 per share.

MicroStrategy strategy

MicroStrategy (NASDAQ:MSTR) has a big bet on Bitcoin. On December 28, it acquired another 2,500 BTC, increasing its holdings to 132,500 BTC, which is worth about US$2,213,293,250, as BTC is priced at US$16,704.10 at writing.

Other than that, the company also reported operating income of US$15.75 million in the trailing 12 months. Still, MSTR stock is bound to move with the changes in Bitcoin prices. Investors could be in for a wild ride, as some believe BTC still has downside to as low as US$9,000.

Surely enough, MSTR stock appears bearish, trading at below its 20-day and 50-day simple moving averages, although it is oversold trading at a Relative Strength Index of about 30.

MicroStrategy is a high-risk stock whose stock price is highly dependent on the value of Bitcoin, which some investors believe should be worth way more as fiat currency values have gone down with high inflation. Yahoo Finance displays three analysts cover the stock with an average 12-month price target of US$477.33, which suggests the potential to triple one’s investment.

The Foolish investor takeaway

Although MicroStrategy stock trades at north of $100, you can buy less than $100 if you want on Wealthsimple. The idea is to build a diversified growth stock portfolio with the intention of holding five to 10 years for strong growth potential.

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 Kay Ng has positions in Nuvei. The Motley Fool has positions in and recommends Nuvei. The Motley Fool recommends Bitcoin. The Motley Fool has a disclosure policy.

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