Here's My Top Growth Stock to Buy Now
Investing in growth stocks allows you to achieve a few important objectives. First off, it helps you to beat inflation, which is running at a 41-year high of 9.1%. Secondly, it also goes a long way to helping you build a robust investment portfolio for your eventual retirement. The recent bear market in the Nasdaq Composite Index opens up opportunities to accumulate stocks at attractive valuations as investors feel pessimistic about future growth.
Of course, you must separate the wheat from the chaff when selecting suitable investments to own for the long run. I look for companies with strong brands and business franchises that demonstrate a long runway for further growth, can capitalize on trends and catalysts, and are run by capable management teams. As long as these criteria are fulfilled, all you need is time for the market to recognize the quality of the business.
With this list in mind, Zoom Video Communications (NASDAQ: ZM) now qualifies as my top growth stock to buy, as its valuation has become more attractive in recent months.
Source Fool.com
