3 Growth Stocks With Virtual Monopolies

A business can extract all kinds of benefits from a dominant market position. To name just two examples, the industry leader typically posts higher profitability and stronger, more consistent sales gains.

Below, Motley Fool investors highlight three growth stocks that have this rare but valuable asset -- a virtual monopoly. Let's see how iRobot (NASDAQ: IRBT), Brookfield Infrastructure Partners (NYSE: BIP), and MercadoLibre (NASDAQ: MELI) are taking advantage of theirs today.

Demitri Kalogeropoulos (iRobot): If you paid over $200 for your vacuum, you may have bought the device from iRobot -- the robotic cleaning specialist is responsible for 64% of all global spending on premium vacuums. Its dominance is even more pronounced in the robotic niche, where it sold 88% of all autonomous vacuums in the U.S. last year.

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Source: Fool.com