Want to Be a Millionaire? 3 Stocks to Buy Before They Hit It Big.
Despite its ups and downs, the stock market remains one of the easiest ways to become a millionaire. How one uses the market to grow his or her wealth varies widely, however. Between exchange-traded funds, hedge funds, index funds, and all of the individual stocks across the world’s exchanges, it can get confusing.
Now, let’s say you want a custom approach and hand-pick your portfolio of stocks in the pursuit of millionaire status. What should your criteria be for investing in the companies that will one day comprise your wealth? The answer: the stocks with genuine long-term potential for growth and stable business performance.
Some stocks trend with strict stability, others with stagnation, but it’s important to remember stock investments compound with percentage growth. As such, here are three great stocks to buy for millionaire potential, thanks to affordable prices and high potential.
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Antero Resources (AR)
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A specialist in natural gas extraction, Antero Resources’ (NYSE:AR) efficient business model and tremendous growth potential kick off this trio of picks. Though some believe hydrocarbons are on the way out, the reality of the world’s developing economy disagrees. In fact, one of the cleanest-burning hydrocarbons, natural gas, has seen continuous increases in demand worldwide.
For Antero, this provides an expanding market in which geopolitical factors may favor its low-cost approach to natural gas extraction. For example, Antero currently holds 440,000 acres of the Marcellus Shale in West Virginia. This equates to 410 trillion cubic feet of natural gas as part of the world’s second-largest natural gas deposit.
With very few employees and low operating costs, Antero efficiently harvests this plentiful resource, allowing it to increase profit margins. With generous cash flow comes expansion, and as Antero grows its cost-effective operations, so too will its stock value.
Willscot Mobile Mini (WSC)
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As the landscape of American expansion outpaces current construction trends, Willscot Mobile Mini (NASDAQ:WSC) stands poised to increase revenue and growth. WSC’s approach to rapidly deployable construction has led to the company’s vast portfolio of customers, providing generous annual growth. Moreover, WSC’s product model fits the ebb and flow in the needs of various companies’ storage and office space needs.
Chief among WSC’s expansions to dominate the portable building market, the company recently acquired the business-to-business rental company McGrath RentCorp. This acquisition, at a premium of 10.1%, provides WSC with an even tighter grip on the North American temporary structure rental market. It also will generously increase WSC’s customer base from its already diverse number of 85,000.
Though admittedly not the flashiest company to invest in, WSC’s aggressive approach to the market it serves bodes well for investors. Therefore, when looking for stocks to buy for millionaire potential, a company with such growth potential should be considered.
Perimeter Solutions (PRM)
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Things have been heating up for Perimeter Solutions (NYSE:PRM) as demand for firefighting materials increases both in the US and globally. With over 120,000 wildfires in the US since 2021, Perimeter Solutions’ firefighting chemicals have never been more relevant. Furthermore, PRM’s industrial firefighting solutions could see growth as European militaries build out their infrastructure amidst the war in Ukraine.
As the US and its allies expand airbases in Europe and North America, the need for fire suppression in aircraft hangars is at an all-time high. This presents yet another market opportunity to drive PRM’s stock growth, which means growth potential over time is strong for investors. Thanks to the environmentally superior nature of PRM’s firefighting chemicals, the US government has shown special interest.
While it’s difficult to predict wars, it is clear that military expansion across Europe will continue for years to come. In turn, PRM may find itself profiting handsomely from the safety systems it provides.
On the date of publication, Viktor Zarev did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Viktor Zarev is a scientist, researcher, and writer specializing in explaining the complex world of technology stocks through dedication to accuracy and understanding.
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