3 Growth Stocks to Buy With $1,000 Right Now

You may want to forget all about the month of September. It was a rocky one for investors. After seven months of gains, the S&P 500 slipped 4.8%. And many growth stocks stagnated or fell. But here’s the thing: That’s OK. Why? Because it’s a temporary situation. The strongest stocks will rebound. And any decline or pause in their gains offers us an opportunity to get in on a great stock for a great price.

That means you can pick up more than one name with a $1,000 investment. In fact, I’m thinking of three excellent growth stocks to add to your portfolio right now. They performed well during the worst of the coronavirus pandemic. But these players have plenty of fuel to power them in a post-pandemic world too. Let’s take a look.

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1. Teladoc

Teladoc Health (NYSE:TDOC) made an investment last year that could reshape its future. The company acquired Livongo — a specialist in the virtual management of chronic conditions. These include high blood pressure and diabetes. Why is this so important for the provider of online medical visits? Because 40% of Americans live with more than one chronic condition. This represents a significant market for Teladoc.

So far, this bet is paying off. In the most recent quarter, the number of members using Livongo products climbed 45%. And more than 20% of Teladoc’s chronic care members are enrolled in multiple programs. This is up from 6% a year ago.

And this is just one part of the Teladoc package. The company provides virtual visits in primary care and offers access to experts across 450 specialties. Visits are 24/7 in the comfort of your own home. During the worst of the pandemic, Teladoc’s business soared. The company’s revenue last year climbed 98% to more than $1 billion. And virtual visits surged 156% to more than 10 million.

The health crisis has since eased — but Teladoc’s revenue and visits continue to soar, a sign that growth is here to stay for this dynamic company. 

TDOC Revenue (Quarterly) data by YCharts

2. Etsy

Etsy (NASDAQ:ETSY) is an online platform offering unique handmade items. During the pandemic shoppers flocked to Etsy for items like masks — but they also favored Etsy because it’s an online shop. And, of course, that was convenient during lockdowns. As a result, revenue and net income soared about 110% and 264%, respectively, last year.

But here’s one reason why gains are likely to continue. Etsy already was growing revenue and profit prior to the pandemic.

ETSY Revenue (Annual) data by YCharts

The health crisis just offered an extra boost — and an opportunity for Etsy to attract new customers and solidify relationships with current ones. The latest earnings report shows us positive trends are continuing. Habitual buyers increased 115% year over year. These are buyers who’ve made purchases totaling at least $200 across six days or more within the past 12 months. This is Etsy’s fastest-growing group of…