3 Red-Hot Stocks to Buy With Just $1,000

3 Red-Hot Stocks to Buy With Just $1,000

Posted On December 24, 2020 12:38 pm

You don’t need to have tens or hundreds of thousands of dollars to invest in the stock market. In fact, you can get your investment journey started with a far more modest amount of cash. A larger starting investment might build your portfolio faster. But the secret to successful investing isn’t necessarily how much you invest, but where you invest and when.

If you have $1,000 to invest in the stock market, here are three amazing companies to build a winning portfolio around. Let’s dive right in.

1. Shopify

If e-commerce is the future of shopping, then Shopify (NYSE:SHOP) has already scooped up a sizable piece of that pie. Shopify is the second-largest e-commerce platform in the U.S., with a 20% market share, according to a 2020 study conducted by Oberlo. This is no small feat, given that estimates from Statista forecast that the U.S. e-commerce market will achieve a record $476.5 billion in sales by 2024.

E-commerce is one of the few sectors that has remained largely untouched by the ill fiscal winds of the coronavirus pandemic. Shopify’s financial performance is a prime example of this industry’s continued success despite broader market troubles. The company reported 47% year-over-year revenue growth during the first quarter. As the pandemic progressed and the number of people shopping online soared to an all-time high, Shopify’s top line swelled accordingly. In the second and third quarters, the company’s revenue was up 97% and 96% compared to the year-ago periods.

“More entrepreneurs are signing on to Shopify so they can quickly and easily put their ideas into action,” CFO Amy Shapero stated in the company’s Q3 report. “We continue to evolve our global commerce operating system to make it easier for merchants to get online and start selling, get discovered, and get their goods to buyers, while providing a delightful shopping experience.”

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