I want to let you into my brokerage account, but promise me that you won’t share my password with anyone else. I guess want I’m saying is that I want to share some of my favorite stocks with you…
I’m not talking about my largest holdings. You look like you’re angling for some fresh intel, so let’s look at some of my newest holdings.
I initiated new positions in DocuSign (NASDAQ:DOCU), DraftKings (NASDAQ:DKNG), and Corsair Gaming (NASDAQ:CRSR) last month. Step inside. Let’s see why these three growth stocks are now hanging out in my portfolio.
The last time I wrote about DocuSign was in February, when I singled out the leader in e-signatures and digital-document management as one of two stocks that I was hoping to buy the next time the market crashes. The market, in general, hasn’t buckled, but with DocuSign and so many great growth companies correcting sharply, I lived up to that promise of intent.
I’ve been kicking myself for not picking up shares for the no-brainer winner sooner. Last summer, I pointed out how much I regretted missing out on the stock’s success, but it would be another eight months before I finally took the plunge.
Some folks mistakenly dismiss DocuSign as a pandemic play, but we’re not going back to wet signatures anytime soon. Revenue rose 57% and adjusted earnings per share more than tripled in its latest quarter. DocuSign routinely trounces Wall Street profit targets and beat those estimates by at least 68% in each of the last three quarters.
If you’re a sports fan, it’s hard to dodge DraftKings. The brand has brokered exclusivity deals with sports leagues, major broadcasting networks, and even individual teams to make its fantasy sports platform ubiquitous.
DraftKings also runs an online sportsbook, and using fantasy sports as a gateway drug to its more lucrative gambling operations is brilliant. Earlier this week, it announced that it was acquiring a popular gambling-content creator. The house always wins when it’s playing with the DraftKings playbook.
There are now 1.5 million active players on DraftKings, a 44% surge over the past year. Average revenue per player is up a whopping 55%, fueling the 98% burst in pro forma revenue in its latest quarter.
The pandemic made DraftKings smarter, expanding into new markets when the biggest leagues were on hold. It will be able to cash in on those chips for years to come.
The more obscure of my favorite stocks is actually the one that’s been in business the longest. Corsair has been around since 1994 as a maker of PC components for do-it-yourself enthusiasts. It’s been…
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