Forget Snowflake! Buy This Ultra-High-Growth Stock
There's been a lot of hype around recent IPO Snowflake (NYSE: SNOW), and much of that is deserved. The cloud-data company has been consistently growing sales ever since its founding in 2012, logging 115% year-over-year revenue growth in the latest quarter.
Contrast Snowflake's headline-grabbing journey with that of a small diagnostics company that entered 2020 as an off-the-radar stock not expecting to get anyone's attention. Fast-forward a year and this business is now leveraging a patented approach to meet the demand for COVID testing, generating so much growth it makes the hot tech IPO look like it's standing still. In the fight against the SARS-CoV-2 virus, Co-Diagnostics' (NASDAQ: CODX) revenue through the first nine months of 2020 was more than 44,000% greater than in the same period of 2019. Not surprisingly, shares were up 940% last year. Even after that incredible rise, the stock may offer significantly more upside in the years ahead than high-profile IPOs like Snowflake.
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Source Fool.com
