Yesterday, Rich profiled one of the biggest COVID-19 winners, Aytu BioScience Inc (NASDAQ:AYTU). While that remains a hot stock as the markets opened today, Rich has even more picks to share with his community members. So here are three of the best growth stocks to watch this week.
Some of these picks are currently trading up, so don’t necessarily go out buying them right away. As Rich advises, keep them on your watch list, track their performances, see how they do. If the companies seem valuable and the stock price is low, consider swooping in.
“I think all of these could be huge winners,” Rich says. “We’ll have to wait and see.”
Best Growth Stocks: STMicroelectronics
A French-Italian multinational semiconductor provider, STMicroelectronics (NYSE:STM) offers products found pretty much everywhere. All of the most important modern electronics—laptops, tablets, smartphones, self-driving cars, etc.—require semiconductors. In this way, the company is leading the way in the Internet of Things.
Yesterday, the company announced that it is joining the Zigbee Alliance Member Group China (ZMGC) as a member of council. This will not only boost its penetration into the Chinese market, it will likely accelerate product development through collaboration.
STM has gained 22.89% in the last week alone, growing from just under $16.00 to its current price of $19.68.
Best Growth Stocks: Anavex Life Sciences
Anavex Life Sciences Corp (NASDAQ:AVXL) is a biopharmaceutical company, which remains one of the hottest sectors during the COVID-19 crisis. AVXL offers therapeutics for the treatment of neurodegenerative and neurodevelopmental disorders, such as Alzheimer’s and Parkinson’s.
On February 3, the FDA granted Fast Track designation for the company’s ANAVEX2-73 clinical development program. This means the regulatory body sees Anavex as an important treatment for a serious disease—in this case, Rett syndrome—and has opened the path to market.
AVXL is up 4.67% for the week and remains relatively stable for the year-to-date.
Best Growth Stocks: Teladoc Health
Teladoc Health Inc (NYSE:TDOC) is a leading provider of direct-to-consumer telehealth services. It currently delivers care in 130 countries and more than 30 languages, in partnership with employers, hospitals, and insurers around the world.
Two weeks ago, the company announced that it is experiencing “unprecedented” daily visits in the United States. Volume spiked 50% in one week and continues to rise as virtual care replaces in-person check-ups. Teledoc estimates that it provided approximately 100,000 virtual medical visits to patients in the US that week.
TDOC is up an astounding 45.95% over the last week alone and is currently priced at $167.21. It’s up 99.98% for the year-to-date, making it one of the biggest stocks to buck the trend of COVID-19-related collapse.
What do you think of this list? Are STM, AVXL, and TDOC the best growth stocks to watch today and throughout the week? Do they have long-term upsides to look forward to? Let us know your thoughts!
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