If you have just started with investments, then there is a good chance that you will not drop $ 10,000 or $ 20,000 in the stock market.
In fact, if you are like me, your first investment could be around the $ 1,000 limit.
To be successful with this first investment, I believe investors should focus on stocks with strong long-term growth potential.
This can turn a small investment into something material given a fairly long time horizon and the power of compound interest.
With that in mind, here are three actions that I think would be great options for a $ 1,000 investment:
Altium Limited (ASX: ALU)
Altium is an award-winning supplier of printed circuit board (PCB) design software that has experienced impressive growth in recent years. The good news is that I believe it still has a significant growth catwalk thanks to the rapidly growing Internet of Things market. As the PCBs are found in almost all connected devices, I expect that the demand for your software will continue to increase at a strong pace for a long future period. Furthermore, I believe that the Octopart company, undervalued, has great potential and can support its long-term growth.
LiveTiles Ltd (ASX: LVT)
A high-risk / high-remuneration option could be this provider of digital work platform and award-winning Microsoft Partner. I was impressed by the way LiveTiles has grown over the last few years and I am confident that I can continue for some time to come. The enterprise platform allows users to easily create dashboards, employee portals and company intranets. These can then be improved through artificial intelligence. Demand for its supply grew strongly, leading the company to triple recurring annualized revenue (ARR) from the beginning of the year to $ 34.5 million at the end of the third quarter.
Xero Limited (ASX: XRO)
Another option for the $ 1,000 investment is this leading provider of cloud-based accounting and business software. Xero has been a leading player in the Australian stock market over the past two years due to the increase in subscriber numbers and the strong recurring revenue growth. Given its enormous global market opportunities, high quality products and strong pricing power, I believe it is in a good position to continue this trend for a long time to come.
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Motley Fool collaborator James Mickleboro has no position in any of the stocks mentioned. Motley Fool Australia owns shares of Altium and Xero. We Fools may not all have the same opinions, but we are all convinced that, considering a wide range of insights, we have become better investors. The Motley Fool has a disclosure policy. This article contains only general investment recommendations (with AFSL 400691). Authorized by Scott Phillips.
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