Two No-Brainer Stocks Under $1,000 to Invest In Right Now
The stock market has been on fire in the first half of 2024. As summer kicks off and vacation plans are being made, it’s essential to think about securing a stronger financial future. Building a robust investment portfolio takes time and patience. You don’t need to have a lot of money to get started. By consistently investing extra cash into quality stocks across different market conditions, you can set yourself up for long-term success.
If you have $1,000 to invest right now, here are two no-brainer stocks that should be on your radar.
1. Vertex Pharmaceuticals
Vertex Pharmaceuticals (NASDAQ: VRTX) is a leader in cystic fibrosis therapeutics, boasting a multibillion-dollar, highly profitable business. The company’s success in this space has paved the way for a robust pipeline of new products and a strategic vision for future growth in the rare disease drug market.
Vertex, in collaboration with CRISPR Therapeutics, made history by receiving regulatory approval for the first CRISPR therapy in the world. Casgevy, the gene-editing therapy, has the potential to be a one-time cure for sickle cell disease and transfusion-dependent beta-thalassemia. While the application process is complex and limited to specific patient groups, the long-term prospects for this therapy look promising.
In addition to Casgevy, Vertex is working on stem cell treatments for type 1 diabetes and various candidates targeting rare diseases like Duchenne muscular dystrophy and APOL1-mediated kidney disease. One key candidate to watch is suzetrigine, a non-opioid pain medication. With an estimated addressable market of around 80 million patients in the U.S. suffering from moderate to severe acute pain, suzetrigine has the potential for significant growth.
Vertex Pharmaceuticals is already a highly profitable company, reporting net income of $1.1 billion in the first quarter of 2024. With a strong foundation and promising future prospects, Vertex is a top healthcare stock to consider holding for the long term.
2. Sweetgreen
Sweetgreen (NYSE: SG) is a fast-casual restaurant chain known for its healthy salads and warm bowls. With 225 locations across the U.S., Sweetgreen has been expanding steadily and plans to open more restaurants in 2024.
One innovative aspect of Sweetgreen’s expansion strategy is its use of robot kitchens, called Infinite Kitchens. By leveraging technology to automate the assembly of ingredients, Sweetgreen aims to cut costs and improve efficiency in its operations. The company has reported healthy profit margins, with early Infinite Kitchen locations achieving margins as high as 28%.
While Sweetgreen is not yet profitable, it’s making progress towards that goal, narrowing its net losses and reporting positive adjusted EBITDA. The company’s focus on digital channels and innovative cost-cutting measures like robot kitchens have attracted investors, driving the stock price up significantly.
If you’re looking for a growth opportunity in the restaurant industry, Sweetgreen could be an attractive option for your investment portfolio.
Conclusion
Investing $1,000 in Vertex Pharmaceuticals and Sweetgreen offers a compelling opportunity to diversify your portfolio and potentially achieve solid returns over the long term. As always, it’s essential to conduct thorough research and consider your investment goals before making any decisions. At Extreme Investor Network, we strive to provide valuable insights and recommendations to help you navigate the complex world of finance and investing. Stay tuned for more expert analysis and recommendations to help you achieve your financial goals.