Shhh! 3 Growth Stocks That Could Be the Market’s Best-Kept Secrets


  • The search for overlooked growth stocks is on, and these three companies should be on investors’ watch lists. 
  • Meta Materials (MMAT): The company will allocate capital to products in development to be commercialized soon. 
  • Zoom Video (ZM): Envisions a future in which avatars and metaverse-style meetings become the norm.
  • Shopify (SHOP): Remains a top way to play the e-commerce revolution among small and medium-sized businesses. 
growth stocks - Shhh! 3 Growth Stocks That Could Be the Market’s Best-Kept Secrets


Certain growth stocks continue to excel in this market. Many of these companies are propelled by smart management teams that make good strategic decisions and by long-term catalysts, with AI remaining the top item of focus for many investors.

Of course, with this in mind, it’s no surprise that many mega-cap Magnificent 7 stocks are dominating the discussion in financial circles. That’s likely to remain the case.

But what that also means is plenty of other high-growth companies are flying under the radar. The relative valuation discounts these companies are generally seeing are attractive from this point of view.

The difficult thing is determining which such stocks are worth buying. I’ve compiled a list of three names of growth stocks I think should be on every investor’s watch list right now.

Meta Materials (MMAT)

Extreme Ultraviolet Lithography Concept - EUV and EUVL - An EUV Laser Pulse Projecting Circuit Patterns onto a Silicon Wafer to Produce Next-Gen Microchips - 3D Illustration. MMAT stock
Source: ArtemisDiana /

Meta Materials (NASDAQ:MMAT) recently released its Q1 2024 results, surpassing analyst expectations with earnings per share of -$1.21, better than the estimated -$2.00. However, revenue still came in below the expected $3.9 million, sitting at $3.27 million.

The company also entered into a securities purchase agreement with undisclosed institutional investors. The deal resulted in Meta Materials selling 37 million shares at a cost of $1.35 and $1.75 per share, respectively. After the announcement, the stock declined, as it should have.

However, Meta Materials anticipates earning $50 million from the issue, scheduled to close on June 28. This follows Meta Materials’ acquisition of Optodot for $48.5 million, a combination of cash and stock. Thus, this deal will bolster Meta Materials’ balance sheet, and I don’t necessarily view it as a negative (other than the fact this deal was done at an absurdly low price).

In March, the company announced its special stockholders meeting on April 15, proposing a substantial increase in authorized shares from 10 million to 250 million. Following a reverse stock split and $3.4 million direct offering, shareholders expressed concern over dilution.

That said, if the company is able to use this capital effectively (which appears likely), Meta Materials is a company that could see outsized upside in this environment and be among the top growth stocks. Right now, I’d rather see a company like Meta Materials issue shares than take on debt, which is what it’s doing right now.

Zoom Video Communications (ZM)

A woman sitting at a desk waves at a large number of people on the videoconferencing software Zoom (ZM).
Source: Girts Ragelis /

A former pandemic star, Zoom Communications (NASDAQ:ZM) remains a great growth stock to buy and hold. The platform offers video conferencing features fit for remote work, online classes and virtual socializations. The company’s revenue and earnings were impressive in previous years. And while growth has slowed, the company has remained a top growth stock with a valuation that looks more and more like a value stock right now.

Zoom CEO Eric Yuan sees the potential of having AI-powered avatars in future meetings. Yes, the discussion around a metaverse-oriented future is back. Whether or not this future comes about the way we think — Zoom is looking at using digital twins to replicate the feeling of a real meeting — is unclear. But the possibilities for Zoom in a tech-forward future do appear to be limited only by the imagination.

Zoom is reportedly exploring integrating digital twins into Zoom Workplace to automate tasks like email management. These avatars could respond to messages and even join meetings, offering users flexibility. If the company can succeed on its vision, and growth rates accelerate, this is a stock I think investors would be remiss to ignore among the growth stocks.

Shopify (SHOP)

Shopify on the phone display.
Source: Burdun Iliya /

Surpassing over $1 trillion in gross merchandise value since its establishment in 2006, Shopify (NYSE:SHOP) remains the king of commerce in the world, so it is a great growth stock.  The company grew into a retail behemoth, attracting various other brands like Ami Paris and Glossier. Adapting to evolving shopping trends, Shopify expanded partnerships with key large-cap tech and social media companies, offering seamless e-commerce experiences.

Despite a recent pullback, Shopify remains a transformative stock to consider. With revenue soaring from $105 million in 2014 to $7.4 billion, Shopify’s potential is clearly immense. As global e-commerce grows, SHOP’s aggressive pursuit of enterprise clients is positioning it for further expansion.

In other news, Shopify recently acquired, a Sequoia-backed Slack alternative, with terms undisclosed. The Threads team will integrate into Shopify. Threads considered selling its domains after Meta’s launch of a social network with the same name. launched in 2019 with $10.5 million funding, gaining attention after Meta’s Threads launch.

On the date of publication, Chris MacDonald did not hold (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 Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

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