Three US Growth Stocks that Should Definitely Be on Your Watch List in 2024

In the ever-evolving landscape of the stock market, tech stocks are once again dominating the scene, led by mega-cap tech giants.

Despite concerns about potential market corrections, we firmly advocate for serious investors to consider the creation of a strategic watchlist, coupled with carefully chosen entry prices.

While the current market may appear slightly overheated, especially in the realm of U.S.-based mega-cap tech behemoths, there exist promising opportunities in other sectors, such as lower-tech plays and less-obvious forays into artificial intelligence (AI).

Nuvei: Unmasking a Fintech Gem

Current stock price: $24.72

Our first contender in the realm of growth stocks is Nuvei (TSX: NVEI), a Canadian fintech firm that has recently caught our attention.

Despite experiencing a substantial dip from its all-time high in late 2021, Nuvei has displayed signs of resurgence, witnessing a commendable 67% uptick from its October 2023 lows.

While the inherent riskiness may deter some investors, we argue that Nuvei's potential for innovation, evident in recent partnerships with tech industry heavyweights, could prove to be a catalyst for substantial growth.

Whether or not Canada faces recessionary challenges, Nuvei stands out as an under-the-radar growth gem with untapped potential.

Aritzia: Fashioning Growth in the Low-Tech Universe

Current stock price: $37.82

For investors seeking growth in a different realm, Aritzia (TSX:ATZ) emerges as a compelling option in the low-tech universe.

This women's clothing company has been on a recovery trajectory, displaying a more than 6% surge in its recent session.

Positioned as a discretionary investment, Aritzia's appeal lies in its ability to align with consumer preferences as disposable incomes rise.

Despite concerns of an impending recession, we contend that Aritzia, with its fabulous fashions, is primed for significant growth. As a mid-cap with ample room for expansion, ATZ stock is poised to sprint on the growth runway.

Restaurant Brands International: A Feast of Growth Opportunities

Current stock price: $77.42

Last but certainly not least, Restaurant Brands International (TSX:QSR) offers investors a growth-oriented avenue to tap into the timeless allure of fast-food brands.

Notably, Burger King's recent momentum has contributed to a surge toward all-time highs, surpassing $106 per share.

Looking ahead, we anticipate even higher highs as Burger King, along with Tim Hortons and Popeyes Louisiana Kitchen, gains momentum in their respective fast-food sub-industries.

The allure of a steadily growing dividend, currently yielding 2.76%, further adds to the appeal of QSR stock for investors seeking sustainable growth.

In conclusion, for serious investors with a long-term horizon and a thirst for growth, the trio of Nuvei, Aritzia, and Restaurant Brands International should undeniably be on their radar in February.

These growth stocks, each offering unique value propositions, stand poised to deliver robust results over the next five years and beyond.

As the investment landscape evolves, strategic consideration of these opportunities may well position investors for success in the dynamic world of the stock market.


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