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3 Growth Stocks To Watch In November 2022

Is now a good time to turn your attention back to growth stocks?

growth stocks

Growth stocks are a type of stock that represents a company with above-average growth potential. Growth stocks are typically more volatile than other types of stocks, but they can offer higher returns over time. Many growth companies are in the early stages of their development and may not yet be profitable. As a result, they may be riskier than established companies.

However, Growth stocks can offer greater returns for investors who are willing to take on more risk. Growth stocks tend to be more expensive than other types of stocks, but they can offer higher returns if the company is successful. For this reason, Growth stocks are typically only suitable for investors with a high tolerance for risk. With this in mind, check out these three hot growth stocks in the stock market this week.

Growth Stocks To Check Out Right Now

Snowflake (SNOW Stock)

First up, Snowflake Inc. (SNOW) is a leading provider of cloud-based software solutions. Snowflake’s platform enables organizations to quickly and easily connect to data from disparate sources, making it possible to gain insights that would otherwise be hidden. Snowflake also provides powerful tools for data warehousing, modeling, and business intelligence.

SNOW Recent Stock News

At the beginning of this month, Snowflake announced that it will report its third-quarter of 2023 financial results. In detail, the company is set to release its Q3 2023 financial results that ended October 31, 2022, on Wednesday, November 30, 2022.

To quickly recap, in the second quarter of 2023 Snowflake reported a loss of $0.18 per share and revenue of $497.2 million. Moreover, the company also said that it estimates third-quarter 2023 product revenue of approximately $500.0 million to $505.0 million.

SNOW Stock Chart

Over the last five trading days, shares of SNOW stock have started to rebound by 20.55%. As of Monday’s closing bell, Snowflake stock is trading at $157.84 a share.

Source: TD Ameritrade TOS

[Read More] 2 Healthcare Stocks To Watch In November 2022

Snap (SNAP Stock)

Next, Snap Inc. (SNAP) is an American multinational technology and social media company. Specifically, Snap Inc’s flagship product is Snapchat, a photo messaging app that allows users to send images and videos to friends and family.

SNAP Recent Stock News

Last month, SNAP reported better-than-expected third-quarter 2022 financial results. Diving in, the social media company reported earnings of $0.07 per share and revenue of $1.1 billion. Meanwhile, analysts’ consensus earnings estimate was $0.01 per share with revenue of $1.1 billion. In addition, Snap announced its Daily Active Users (DAU) grew by 19% on a year-over-year basis.

Evan Spiegel, CEO of Snap commented, “This quarter we took action to further focus our business on our three strategic priorities: growing our community and deepening their engagement with our products, reaccelerating and diversifying our revenue growth, and investing in augmented reality.“

SNAP Stock Chart

Over the past five trading days, SNAP stock has recovered by 12.79%. While, on Monday, shares of Snap stock closed the day down 2.42% at $11.29 a share.

Source: TD Ameritrade TOS

[Read More] What Happens To Stocks During A Recession?

Shopify (SHOP Stock)

Rounding off the list is e-commerce giant Shopify Inc. (SHOP). In brief, Shopify is a Canadian multinational e-commerce company. The company develops and provides an online platform for businesses to create their own online stores.

SHOP Recent Stock News

In recent news, at the end of October, Shopify announced better-than-expected 3rd Quarter 2022 financial results. Shopify (SHOP) reported revenue of $1.4 billion. What’s more, Shopify reported a 21.6% increase in revenue compared to the same period, a year prior.

Furthermore, Harley Finkelstein, Shopify’s President, commented, “Shopify is the central nervous system that powers millions of businesses around the world. During Q3, merchants continued to recognize Shopify’s exceptional value and increased their adoption of our essential tools and innovative solutions. Our merchant solutions revenue as a percentage of GMV – or Merchant Solutions attach rate – climbed to 2.14%, the highest level in Shopify’s history.“

SHOP Stock Chart

In the last month of trading action, SHOP stock has bounced 38.33%. Meanwhile, on Monday, shares of Shopify stock closed the day down 2.64% trading at $38.40 a share.

Source: TD Ameritrade TOS

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By Josh Dylan

Josh Dylan is an active contributor to StockMarket.com. His forte is in geosocial events and emerging trends in the stock market today. As an active contributor to other financial outlets like MarijuanaStocks.com, his ability to study current events and determine the potential market reaction is what sets him apart from other writers.

After studying at UC Santa Cruz and earning a bachelor's of art and art history, Josh also went on to start his own business in art resale. Identifying underserved niches like this has allowed him to think outside the box when it comes to applying this approach to the stock market.

His new-age take on social media and branding gave Josh the foresight to apply certain lifestyle trends to market moving topics. This has included the recent trend in the cannabis industry and marijuana stocks as well as following emerging technology such as artificial learning and web-bots. Fundamentals are just as important as momentum in Josh’s opinion. Being able to understand how to apply popular trends to investing is of major importance. If the price of oil is sinking but the price of gold is following along, we want to understand why, not just follow the broader trend.

Josh Dylan makes it a point to not only mention what hot “today” but also find ways to apply that to find future opportunity in the stock market. What’s more is that Josh has become an active part in the StockMarket.com social media team. He works to delivery top research not only one StockMarket.com but also bring it to the readers, directly.

By studying the macro-economic events in the market, Josh makes sure to find events that could shift micro-economic trends. He prides himself on taking a unique approach to information but not taking things for “face value”. When it comes to the stock market, things can change at a moment’s notice and Josh makes sure to stay ahead of that with sound research and diligence. When Josh isn’t writing about the stock market, he enjoys spending time with his family and surfing. He currently calls Southern California his home.

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