Are you above the legal age to view this content in your province/state?

Home / Investment Opportunities / 3 Growth Stocks to Buy Near All-Time Highs

3 Growth Stocks to Buy Near All-Time Highs

3 Growth Stocks to Buy Near All-Time Highs

Key Points

  • Innovative Industrial Properties currently owns properties in roughly half of the states that have legalized medical cannabis.
  • Intuitive Surgical is tapping only a fraction of the potential market for robotic surgical systems.
  • Nvidia’s long-term growth drivers include gaming and artificial intelligence.

Buy low and sell high. You’ve no doubt heard that advice at some point. However, the old investing adage misses an important fact: The best stocks hit their previous peaks, then keep going even higher.

To be sure, there are some high-flying stocks that are riskier propositions because of their increased valuations. However, that doesn’t mean that all stocks fall into that category. Here are three growth stocks to buy that are near all-time highs right now.

Innovative Industrial Properties

Innovative Industrial Properties (NYSE:IIPR) shares are up 25% year to date and now stand near their highest level ever. That’s an impressive feat considering that the stock skyrocketed more than 580% over the last three years.

The company is organized as a real estate investment trust (REIT). IIP isn’t an ordinary REIT, though: It focuses on the U.S. medical cannabis industry. Medical cannabis operators needing additional capital sell their properties to IIP, which then leases those properties back to them.

IIP isn’t anywhere close to maxing out its potential. The company currently owns 73 properties in 18 states. Those states include some of the fastest-growing cannabis markets in the U.S. There are another 17 states (and likely more on the way) that IIP could expand into as well. 

In addition to its great growth prospects, IIP also offers an attractive dividend. Its dividend yield stands at nearly 2.5% and would be a lot higher were it not for IIP’s share price rising so much. The company has quadrupled its dividend payout over the last three years. More dividend hikes could be in store.

Intuitive Surgical

Shares of Intuitive Surgical (NASDAQ:ISRG) have also jumped more than 20% this year to an all-time high. And this is a stock that has delivered a lifetime gain so far of well over 16,600%.

It’s possible that Intuitive Surgical could pull back somewhat over the near term. CEO Gary Guthart acknowledged in the company’s Q2 conference call: “The pandemic is not behind us, and additional infection growth may again strain hospital resources and impact our results in the future.”

However, Intuitive’s long-term prospects remain as strong as ever. The company’s robotic surgical systems will likely be used in more than 1.5 million procedures this year. But that’s still only one-fourth of the number of procedures performed annually for which Intuitive already has products and regulatory clearances. 

Intuitive Surgical’s growth prospects should expand as it rolls out new technology and obtains additional regulatory clearances. The company estimates that there are 20 million soft tissue surgeries performed each year that are candidates for robotic assistance. 

Nvidia

Nvidia (NASDAQ:NVDA) ranks as the biggest winner of these three high-flying growth stocks. The chipmaker’s shares have vaulted more than 50% year to date and are close to the all-time high set last month. The stock has risen nearly 48,700% since its initial public offering in 1999.

Sure, there are a couple of potential issues that could temporarily derail Nvidia’s impressive streak. A cryptocurrency crash could cause graphics processing unit (GPU) prices to tumble. Nvidia’s pending acquisition of ARM Holdings also faces some regulatory hurdles.

Still, though, Nvidia claims multiple long-term tailwinds. Online gaming systems continue to demand more processing power, which creates a recurring market for new GPUs. Increasingly more apps use artificial intelligence, presenting another great growth opportunity for Nvidia.

Over the next decade and beyond, we could see more significant adoption of self-driving cars that rely on Nvidia’s technology. In Facebook‘s Q2 conference call, CEO Mark Zuckerberg specifically mentioned Nvidia as a company that could benefit from the development of Facebook’s metaverse. Nvidia stock should have plenty of room to run in the future.

Should you invest $1,000 in NVIDIA Corporation right now?

Before you consider NVIDIA Corporation, you’ll want to hear this.

Our award-winning analyst team just revealed what they believe are the 10 best stocks for investors to buy right now… and NVIDIA Corporation wasn’t one of them.

The online investing service they’ve run for nearly two decades, Motley Fool Stock Advisor, has beaten the stock market by over 4X.* And right now, they think there are 10 stocks that are better buys.

This article originally appeared on The Motley Fool.

Disclaimer

Investment Value Finders specializes in providing opinions and information on stocks to individuals who wish to receive them. Our reports are construed for information purposes solely and are distributed free of charge to individuals who wish to receive them.


Investment Value Finders does not promote, condone or advocate licit or illicit drug use. Investment Value Finders cannot be held responsible for materials or contests posted on its website pages, or pages to which we provide links, which promote, condone or advocate licit or illicit drug use or illegal activities.


DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS WEBSITE. We are not registered as a securities broker-dealer or an investment adviser. We are neither licensed nor qualified to provide investment advice.


Investment Value Finders occasionally receives direct compensation for hosting links (or other* advertisements) to third party content that may be subject to disclaimer pursuant to Section 17(b) of the Securities Act of 1933. For those instances where the link text contains company or stock-specific mention, we provide the following list of compensation received in order to ensure full disclosure and transparency.


Investment Value Finders is intended for those 21+ years of age only!

Check Also

Revealed: 1 of the Best Canadian Value Stocks to Buy This July

Revealed: 1 of the Best Canadian Value Stocks to Buy This July

Many investors are sleeping on some of the best Canadian value stocks this July 2021. …