Top Growth Shares ASX Investors Should Watch
If you’re an investor with a bit more money at hand than the average stockholder, growth stocks might be your best bet. These are stocks that grow at a higher rate than the average company in their industry.
The top growth shares ASX lists might cost more than others in their industries, but the increased chances of profit usually balances that out. They may not also pay dividends, so you should steer clear of them if you’re in search of making some money from that means.
These companies aren’t just the ones with the fastest-rising stock prices. However, they are shares ASX investors believe have made huge innovations. These companies are usually opening new markets or increasing their niche in existing ones.
We’ll go through some of these shares ASX investors can grab up:
- 29Metals (29M)
The first stock on our list is this copper mining company. First off, this company is relatively new on ASX as they launched their IPO just last year. They may have fallen since their all-time high in January, but we think that there might be a lot of increase in the future.
Copper is selling at a historical high, and with the world going cleaner, the demand for the metal will rise. With that, so will the price of 29M.
- NextGen Energy (NXG)
The next on our list of growth shares ASX investors should look out for is NXG. This company deals in uranium mining, and is also listed on TSX and NYSE. This means that it has access to a wider capital pool than some of its competitors.
Some current conflicts in Kazakhstan, the country that produces the highest uranium, has disrupted the worldwide supply. This has increased the price of uranium, and the stock price of NextGen is tagging along.
- Airtasker (ART)
Another one of our top shares asx investors should watch closely is Airtasker. This freelancing company seems to be in a bad spot, but we expect it to bounce back soon enough.
Thanks to the state of the world post-pandemic, remote working becoming more important to the society. With their increased growth in the US and the UK, Airtasker is readying for a bull run, and it seems like the growth would be sustained.
- Block (SQ2)
This company is listed both on the ASX and the NYSE. Formerly called Square, this payment processor had a 40% increase in its transaction volume from last year.
Not only that, the company just acquired Afterpay. This is in addition to their other subsidiaries including Cashapp and Tidal. These are big moves that will most likely see a sustained increase in their stock price. This is one of the shares asx investors should definitely take notice of.
These growth stocks should definitely be monitored by investors seeking to make a serious profit. Each of them have a strong niche in their industries, and the potential for a rise in their stock prices.
However, investors should be cautious when buying or trading these shares ASX lists. While they have high probabilities of increase, the market is volatile. These stocks are great choices, but remember, tread wisely.