Shopify
This company is helping to revolutionize the retail commerce world. Shopify Inc. (NASDAQ: SHOP) provides a commerce platform and services in North America, Europe, the Middle East and elsewhere.
The company’s platform enables merchants to display, manage, market and sell products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons and marketplaces. It enables them to manage products and inventory; process orders and payments; fulfill and ship orders; find new buyers and build customer relationships; source products; leverage analytics and reporting; manage cash, payments and transactions; and access financing.Shopify also sells custom themes and apps, registration of domain names and merchant solutions, such as accepting payments, shipping and fulfillment, and securing working capital. The company was formerly known as Jaded Pixel Technologies changed its name in November 2011.
Shopify stock has a 4.6% weighting in the ARK fund. Oppenheimer recently lifted its $70 target price to $80, well above the $63.79 consensus target. Friday’s final trade was for $63.69 a share.
DraftKings
Once the Pandora’s box of ubiquitous 24/7/365 gambling was opened, there clearly would be winners and losers, and this company looks like one of the long-term winners. DraftKings Inc. (NASDAQ: DKNG) operates as a digital sports entertainment and gaming company. It offers multichannel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries.
The company operates iGaming through its DraftKings brand in five states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand, in three states. Its Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in 18 states.
Its daily fantasy sports product is available in six countries with 15 distinct sports categories. In addition, it offers DraftKings Marketplace, a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions, as well as owns Vegas Sports Information Network, a multiplatform broadcast and content company.
DraftKings has just over a 4.0% weighting in the fund. The $35 Jefferies target price compares with a consensus target of $28.57 and the most recent close at $25.03.
These stocks are suitable for aggressive growth investors with ample risk tolerance and a long-term horizon. With those caveats in place, all these top companies could be poised for mega growth in the coming years. Just remember that these stocks are extremely volatile and likely still will have wild price swings, but if investors can tolerate that, they could be in for some massive gains.
Originally published at 24/7 Wall St.
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