3 Fintech Stocks to Turn $100K Into $1 Million: April 2024


  • The US economy’s future looks promising with robust job growth and a strong labor market, as evidenced by the addition of 303,000 jobs in March and a decline in the unemployment rate to 3.8%.
  • PayPal Holdings Inc (PYPL): High financials and the opening of PYUSD stablecoin to USD conversions are critical factors for why this Fintech stock will appreciate greatly.
  • StoneCo LTD. (STNE): Solid growth financials are backed by acquiring new customers.
  • MercadoLibre Inc. (MELI): Consistently beating the market and being the strongest financial tech company in Argentina, you can be confident with your returns from investing in this stock. 
fintech stocks - 3 Fintech Stocks to Turn $100K Into $1 Million: April 2024

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The future of the U.S. economy looks promising, driven by robust job growth and a strong labor market. In March, employers added 303,000 jobs, surpassing expectations and pushing the unemployment rate to 3.8%. The foundation for sustained economic expansion appears solid with continued growth from stocks in critical sectors like fintech, healthcare, leisure and construction.

With its ever-increasing potential, the financial technology industry is poised to transform current successes into long-term sustainability. The market, valued at $340.10 billion, is projected to reach a staggering $1.2 trillion by 2032. These figures underscore the immense growth potential for potential investors in this sector. 

These three fintech stocks will help drive your profits, be sure to invest now.

PayPal Holdings (PYPL)

PayPal Holdings, Inc. (PYPL) icon displayed on smartphone with keyboard background. is an American multinational financial technology company operating an online payment
Source: Poetra.RH / Shutterstock.com

PayPal Holdings (NASDAQ:PYPL) is a multinational fintech company that supports an online payment system. PYPL’s market cap rose from $66.20 billion in 2023 to $69.82 billion in 2024, representing a rise of 5.46%. Last quarter, its year-over-year (YOY) EBIT Growth was 20.20%. These metrics demonstrate PYPL’s ability to remain profitable while showing excellent growth. 

Recently, Paypal started a new service allowing users to convert its digital coin to the US dollar with no crypto sale fee. This builds a positive partnership with customers looking for the best conversion deal while promoting their stablecoin with a massive ceiling. It also indicates that PayPal may have plans to expand and build on the coin, which is attractive for growth.

StoneCo LTD. (STNE)

Cellphone with logo of Brazilian fintech business Stone Company (StoneCo) on screen in front of website
Source: T. Schneider / Shutterstock.com

StoneCo LTD. (NASDAQ:STNE) is a fintech company focusing on cloud-based technologies and online business development. In Q4 of 2023, StoneCo demonstrated a remarkable financial performance, surpassing its previous records. The company’s revenue stood at $642.4 million, marking a significant 20.1% YOY growth. Net income also grew substantially, reaching $111.5 million.

Customer acquisition and conversion are the most significant catalyst behind StoneCo’s potential. Simply put, STNE has successfully introduced new customers to its services. In the last year alone, StoneCo increased its client share by 37% YOY while improving its payment volume by 21%. This ability to acquire customers will support STNE in the long run, keeping its valuation high.

MercadoLibre (MELI)

MercadoLibre (MELI) homepage on a smartphone
Source: rafapress / Shutterstock.com

MercadoLibre (NASDAQ:MELI) is the parent company of the largest e-commerce platform in Latin America. MELI has expanded its coverage across South America, becoming integral to world commerce.

MercadoLibre manages over $120 billion annually in its financial technology sector, showing that through its rapid growth, they have been able to sustain production and quality. The company looks to capitalize on the development of the financial tech sector. 

The sector has been accelerated rapidly due to the rise of digital banking and online services. More than half of the top 227 fintech companies reported that their massive surge was due to rising consumer growth, which looks to continue in 2024. MercadoLibre has become a strong contender, as consumers and other companies can look to their consistent and unwavering growth in the past few years.

On the date of publication, Michael Que 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.

The researchers contributing to this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.

Michael Que is a financial writer with extensive experience in the technology industry, with his work featured on Seeking Alpha, Benzinga and MSN Money. He is the owner of Que Capital, a research firm that combines fundamental analysis with ESG factors to pick the best sustainable long-term investments.

Article printed from InvestorPlace Media, https://investorplace.com/2024/04/3-fintech-stocks-to-turn-100k-into-1-million-april-2024/.

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