The Best Growth Stock to Put $1,000 In Right Now
Adyen (ENXTAM: ADYEN) is a global payments processor focused on online transactions and large enterprises. With its modern offerings that allow merchants to accept any form of payment anywhere in the world, the company has rapidly increased its share of global payments volume over the past few years, from just 0.2% in 2016 to 2.1% in 2022.
But as we sit here in October 2023, Adyen's stock is down more than 40% year to date. This is due to investor worries over competitive threats on pricing in North America, slowing revenue growth, and narrowing profit margins. However, when you dig into the numbers and management's long-term strategy, it is clear that these concerns are misguided.
Here's why the market is missing the forest for the trees with Adyen, making it the best growth stock for investors to put spare cash to work right now.
Source Fool.com
