1 No-Brainer Growth Stock You Can Buy for Under $100 Right Now
This company is a mainstay in its field and has minimal competition.
Despite the recent market drawdown, many growth stocks still look overvalued at the moment. The S&P 500 price-to-earnings (P/E) ratio is 29, which is close to a record high compared to its long-term average. Many stocks such as Palantir trade at monumentally high price-to-sales (P/S) ratios. Just because these high flyers are down 20% does not mean they are a bargain for investors.
Not all growth stocks are trading at inflated prices, though. I believe Uber (NYSE: UBER) is a no-brainer stock for investors to buy, and it trades for less thanr $100. Here's why investors should consider adding Uber stock to their portfolios today.
Uber is a ride-sharing and food-delivery platform. Most of its earnings come from ride sharing, and it is extending its lead over competitors like Lyft. In fact, you could argue there are barely any competitors left in ride sharing for Uber, especially in North America. This is giving the company a virtual monopoly on a fast-growing sector of the economy.
