It is never too early to start investing. If you wait until you have enough money to start investing, you may be waiting forever. With thousands of stocks to choose fromit is easy to start with any amount of cash. The trick is to pick the right stocks and hold them for the long term. Any market volatility cools down over the long term and if you pick the right stocks, you can take home solid profits.

I’ve identified three growth stocks under $50 that are ideal additions to your portfolio. These three companies are establishing themselves as industry pioneers and have plenty of potential to grow. Whether you’re a beginner or have already built a stock portfolio, here are three stocks under $50 worth considering.

Pfizer (PFE)

Biotech company Pfizer (NYSE: PFE) became a global name during the pandemic. It was one of the vaccine manufacturers that saw a huge growth in sales as countries massively ordered the vaccine. However, this did not last long and as the impact of the pandemic subsided, demand for Pfizer’s vaccines also fell. I believe management was prepared for this dip and made the most of the cash flow it generated from vaccine sales. Among other acquisitions, it bought To seize for $43 billion. Products from Seagen’s portfolio have helped grow the company’s revenue, and with Seagen’s approved cancer products, Pfizer will to be able to see higher sales growth.

In the second quarter, it reported a modest 3% jump in revenue to $13.3 billion, but management has taken cost-cutting measures to save $4 billion by the end of the year. Management issued new guidance after the results and is now focused on for revenues between $59.5 billion and $62.5 billion and earnings per share between $2.45 and $2.65.

Pfizer also appeals to dividend investors because of its impressive 5.84% dividend yield, and the company has increased dividends for 15 consecutive years. Shares of PFE traded at $28 and are down 3% YTD and 21% in the last 12 months. The stock has moved within the reach of $25 to $31 since the beginning of the year.

Strong financial performance and steady revenue growth make Pfizer an ideal stock to possessIf you’re a passive income investor, Pfizer is one of the best dividend stocks under $50.

Key points in this article:

• Pfizer, a dividend stock, is slowly getting back on track thanks to cost-cutting measures and acquisitions.
• Palantir is all about big data and its diversified operations drive steady growth.
• SoFi Technologies has reported three consecutive profitable quarters and could double your money.
• If you want to join the AI ​​ride, grab a free copy of our report, “The Next NVIDIA.” We’ve picked a stock that could generate impressive returns. Discover the “next Nvidia” before others do.

Palantir Technologies (PLTR)

Technology company Palantir Technologies (NYSE: PLTR) is my favorite AI bet. At $31, the stock is up 92% YTD and 108% in the last 12 months. As one of the top tech companies focused on government contracts and the defense sector, Palantir has enjoyed steady revenue growth. Palantir is a highly diversified company today, with revenue growth of 27% year-over-year to $678 million in the second quarter and an impressive 83% year-on-year increase in business customers to 295 customers.

The company’s commercial revenue for the quarter was $307 million and government revenue was $371 million. is aimed for revenues of $697 million to $701 million for the third quarter. I think Palantir has the potential to double your money in the long run. While the stock has been on a tear for most of 2022, falling into the single digits, it has rebounded and rallied in 2023. The Artificial Intelligence Platform (AIP) has helped the company grow tremendously over the past year.

The company has entered into a partnership with Microsoft (NASDAQ: MSFT) to serve the intelligence and defense agencies in the US Palantir has already proven its mettle amid the highly competitive industry and has ample room to grow. A promising player, smart investors should grab the stock before it skyrockets.

SoFi Technologies (SOFI)

Fintech company SoFi Technologies (NASDAQ: SOFI) is here to revolutionize banking and financial services. It started as a student loan lender and then changed into a full-fledged financial services provider. SoFi offers a one-stop solution for all financial needs and has grown into a user favorite. It has seen steady growth in users, ending the second quarter with 8.8 million users. The company reported impressive financial results for the second quarter, but this has not been reflected in the stock. SOFI shares are trading at $7, but continue to decline in value, losing 24% of their value since the beginning of the year.

Revenue came in at $599 million, up 22% year-over-year, and net income was $17 million, a shift from a loss the previous year. Management has made the right moves at the right time to report steady growth during a period of high inflation. SoFi is driven by its financial services segment, which saw revenue growth of 80% to $176.1 million. It reported its first profitable quarter in December and has maintained momentum.

For the third quarter, management has is aimed for sales of $625 to $645 million. Although the company does face competition in the sector, no other company has been able to come close the series of offers that SoFi has. There are 12.8 million credit products in the market and management is now gradually shifting its focus from unsecured to secured loans. to reduce risk. However, net interest income continues to drive revenue for the company.

SoFi has a solid financial base and is a high-risk, high-return stock.

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