To The Moon

• Here are three stocks to buy for huge profits.

• Coinbase (COIN): The demise of cryptocurrency may be grossly exaggerated.

• Teladoc (TDOC): Teladoc’s Q1 2023 results brought relief to investors after a challenging 2022.

• OpenText (OTEX): Open Text is creating a significant impact in the realm of enterprise information management software and solutions.

best stocks for high returns - 3 Stocks to Buy for Life-Changing Returns

Amid concerns about inflation and the Federal Reserve’s aggressive rate tightening, market conditions are anticipated to remain difficult in 2023. The ongoing Russian invasion of Ukraine further contributes to the uncertain market outlook. Thus, finding stocks to buy in this environment can seem like a very difficult task. However, there are some high potential stocks for life-changing gains out there.

The search for these stocks to buy for huge profits is complicated by valuation multiples which, by and large, remain elevated. Accordingly, for long-term investors looking for life-changing returns, an appetite for a certain amount of risk is required to beat the markets right now.

In the vast sea of publicly-listed stocks, it’s crucial to identify the most promising options with the best long-term growth potential in any environment. Here are three of the top stocks for massive profits for investors looking to add more speculative positions, betting on the return of another bull market around the corner.

Coinbase (COIN) $Coinbase Global, Inc.(COIN)$

Coinbase (COIN), is an American company that operates a cryptocurrency exchange platform. Ethereum (ETH-USD) coin on the background of the Coinbase inscription.

Coinbase (NASDAQ:COIN) is perhaps the leading option for many investors seeking crypto exposure. The largest centralized crypto exchange in the U.S., Coinbase rose to prominence during the most recent post-pandemic bull market.

Capital was essentially free back then, and all speculative assets were rising. Accordingly, the company’s 2021 IPO was one that produced a rather incredible market capitalization out of the gate, with Coinbase worth roughly $86 billion following its initial public offering. Today, Coinbase has shrunk to a valuation of around $13 billion, losing more than 80% of its value in a little more than two years.

That said, there are reasons why long-term growth investors are looking at this stock at these levels. Coinbase has a strong growth strategy, aiming to expand globally across six continents. This expansion will drive revenue growth as trading volumes increase. The crypto industry is also projected to reach 1.2 billion users by 2025, providing significant potential for Coinbase to attract more users.

Cryptocurrency exchange Coinbase plans to launch a TV advertising campaign to raise awareness and attract a wider audience. The company aims to expand its user base and establish itself as a prominent player in the crypto industry. Through this initiative, Coinbase seeks to drive the adoption and acceptance of digital currencies while boosting its own market position domestically. If these growth plans pan out, and the crypto market turns a corner, this could be a very promising stock to own over the long-term

Teladoc (TDOC) $Teladoc Health Inc.(TDOC)$

Various graphical representations of medical imagery are shown in front of a doctor using a tablet computer. DNA stock

Teladoc (NYSE:TDOC), a provider of virtual health care services, is another stock that’s experienced a volatile ride in the stock market. TDOC was trading for around $80 in late-2019, the stock surged during the pandemic, rocketing to more than $260 per share in early-2021. However, this stock has since suffered a dramatic decline, as have many pandemic-driven stocks. Teladoc’s current market capitalization of around $3.7 billion is nearing its IPO levels way back in 2015. 

So, is this stock worth picking up at close to where it was listed roughly eight years ago? That’s the question many investors are asking, along with whether virtual health care is here to stay, or whether it will turn out to be a short-lived fad.

It’s my view that digital health represents a structural shift within the healthcare sector. I think this is a stock that could have incredible potential as healthcare costs continue to pressure the American consumer.

The company’s recent results also paint a rather intriguing picture for investors. Teladoc’s sales rose by 11% to $629 million in the latest quarter, with an improved adjusted gross margin of 69.8%. The company’s growth prospects are further strengthened by its new weight management services, including effective prescription medications.

For those looking to bet on the future of healthcare, Teladoc is a compelling opportunity at this valuation.

Open Text (OTEX) $Open Text(OTEX)$

APPS stock: A digital illustration of software icons surrounding a cellphone.

Open Text (NASDAQ:OTEX) is a prominent provider of enterprise information management solutions. It enables businesses to effectively handle digital assets, streamline processes and enhance profitability. The company’s financial performance showcases a remarkable track record of sustained growth. They have consistently experienced rising revenues, fueled by robust demand for its offerings. Furthermore, Open Text has demonstrated resilience by maintaining strong profit margins, even during challenging economic conditions.

Open Text’s technology solutions have earned a strong reputation for their capacity to drive business value through improved productivity, scalability and security. The company’s agility is evident in its strategic partnerships with industry leaders, enabling it to effectively meet evolving market demands.

Accordingly, I expect to see a fundamentals-driven valuation surge over the long-term for this tech stock. Those looking for a relatively overlooked option may want to keep this company on the radar right now.

Source: Market Watch