Yahoo Finance I Made a Fortune Off Amazon: Here Are 4 Companies You Should Invest In Now
Identifying the next game-changing investment opportunity is the holy grail for investors. Alex Adekola, CEO of ReadyAdjuster.com, and Samuel Davis, CEO of London Gardeners, lived that dream when they made investments in Amazon early on.
Learn More: 10 Valuable Stocks That Could Be the Next Apple or Amazon
Find Out: 4 Genius Things All Wealthy People Do With Their Money
Here’s what to look for when investing in stocks and four other companies you could consider investing in now that may follow the same path as Amazon.
Wealthy people know the best money secrets. Learn how to copy them.
What To Look For in a Stock
“When I decided to invest in Amazon, it was because I saw their ability to revolutionize the retail sector,” Adekola said. “They were not only marketing books on the internet — they were constructing a platform that could potentially sell all kinds of products.”
Adekola’s advice to investors is to look for companies using technology to transform traditional business models.
“If you’re searching for the next Amazon, pay attention to businesses within their respective industries that are undertaking similar endeavors,” Adekola said. “Search for companies using technology to transform traditional practices and provide value to customers in innovative ways.”
He also stressed the need for patience. As with many investments, the biggest payoffs often come from allowing companies like Amazon to achieve their full growth potential over the long term.
“Here’s my practical advice: Before considering investments, question whether the company is addressing a genuine issue in a manner that benefits customers,” Adekola said. “Search for companies that have powerful leadership, a defined vision and a history of being innovative. Do not hesitate to focus on the long run, as seen with Amazon, the greatest rewards usually come from maintaining your investments and allowing them to flourish gradually.”
Read Next: In 5 Years, These 2 Stocks Will Be More Valuable Than Apple
Shopify (SHOP)
One firm that immediately came to mind for Adekola was Shopify. Shopify provides online store capabilities for businesses of all sizes. It builds websites, processes payments, manages inventory and even fulfills orders — and, according to Adekola, it’s a good business to be in.
“They are giving small businesses and entrepreneurs the ability to compete against larger competitors by offering them user-friendly tools to create and expand their online shops,” Adekola said. “With the e-commerce industry continuing to thrive, Shopify is positioned to experience ongoing growth and success.”
Shopify had a closing share price of $61.59 on June 10.
Block Inc. (SQ)
Block’s payment processing makes it easier for small businesses and individuals to accept various forms of payment. Its flagship product is a card reader that lets merchants process credit card transactions on their phones or tablets.
“Block’s end-to-end ecosystem for payment solutions, especially with its widely used Cash App, has a powerful stand in the financial technology space,” Davis said. “Its innovation on financial services for businesses and people draws a lot of attraction as an investment.”
Block also offers software for payroll, invoicing and customer management, making it a complete platform for businesses.
Block had a closing share price of $65.10 on June 10.
Nvidia (NVDA)
Nvidia specializes in designing and manufacturing GPUs, or graphics processing units. These are important for gaming, but in the last few years, the technology has become absolutely vital to artificial intelligence (AI).
“Nvidia’s innovation in GPUs and its key role in the growth of AI, gaming and data centers are important to ensure more prosperity in the future,” Davis said. “This creates technology deeply ingrained in today’s cutting-edge applications and industries.”
As AI continues to grow and develop, Nvidia’s hardware is indispensable for anyone looking to use the technology.
Nvidia had a closing share price of $120.89 on June 10.
Beyond Meat (BYND)
Beyond Meat is a pioneer in plant-based foods. The company’s mission is to create delicious products that replicate the taste and texture of animal-based meats, without the environmental and ethical drawbacks associated with meat production. Its products are available pretty much everywhere now — grocery stores, restaurants and fast-food chains.
“With more and more consumers interested in sustainable and plant-based diets, Beyond Meat has positioned itself as the leader in the alternative protein space,” Davis said. “This focus on innovation and expansion within product lines taps into the health and environmentally conscious demographic.”
Beyond Meat had a closing share price of $7.59 on June 10.
More From GOBankingRates
This article originally appeared on GOBankingRates.com: I Made a Fortune Off Amazon: Here Are 4 Companies You Should Invest In Now
