Before entering the markets, investors need to clearly define their objective. If the idea is to take low-risk and beat inflation, it makes sense to go overweight on blue-chip stocks trading at attractive valuations. If the idea is to generate regular cash flows, investors should be overweight on high dividend yield stocks. Additionally, if the idea is to make massive wealth from the markets, the only way is exposure to millionaire-maker growth stocks.

This column focuses on growth stocks to buy that can deliver multibagger returns by the end of the decade. It’s important to note that massive wealth cannot be made overnight. It requires patience and the ability to hold through the thick and thin. Even the best growth stocks can have intermediate corrections of 20% to 30%.

Let’s therefore discuss seven high-risk growth stocks to buy and hold through 2030. These companies are fundamentally sound and have a big addressable market. If the business execution remains good, multi-fold growth in revenue and cash flow is likely.

Tempus AI (TEM)

Tempus AI (NASDAQ:TEM) stock was listed last month and seems to be under-the-radar. I see this as a good buying opportunity for the long term. As an overview, Tempus AI is a healthcare technology company. The company claims to have one of the world’s largest libraries of clinical and molecular data.

It’s worth noting that anything related to AI has garnered investor interest in the recent past. However, the Tempus story is not limited to euphoria. The company has made significant developments related to next generation sequencing diagnostics, among others.

Last month, Tempus received clearance from the U.S. Food and Drug Administration for its “Tempus ECG-AF device that uses AI to help identify patients who may be at increased risk of atrial fibrillation.”

Further, Centers for Medicare & Medicaid Services have granted “Advanced Diagnostic Laboratory Test (ADLT) status for Tempus’ next-generation sequencing assay, xT CDx.”

These developments underscore the company’s growth potential and the investment in R&D. With AI backed precision medicine and diagnostics industry still at a nascent stage, Tempus has ample headroom for growth and value creation. 

Archer Aviation (ACHR)

The flying car industry is expected to be worth $1 trillion by 2040. It goes without saying that the early-movers have a big advantage and can be massive wealth creators. However, it’s important to be selective as there will be companies that will perish amidst competition and lack of technological edge.

Archer Aviation (NYSE:ACHR) is among the flying car companies that seems poised for growth and value creation. In the last one month, ACHR stock has zoomed by 70%. This is on the back of positive business developments as the company targets 2025 for commercialization of eVTOL.

Since we are talking about a long term investment horizon, it’s important to mention that investors in Archer include Stellantis (NYSE:STLA) and United Airlines (NYSE:UAL). This underscores the potential in the company and industry.

Recently, Archer signed an agreement with Southwest Airlines (NYSE:LUV) for “electric air taxi networks utilizing Archer’s eVTOL aircraft at California airports.” It’s also worth noting that Archer has local partnerships in the UAE, India, and Korea for expansion in the next 24 months. I therefore expect stellar growth in the coming years.

Leonardo DRS (DRS)

Global defense spending touched record highs of $2.44 trillion last year. It’s likely that defense spending will continue to increase with several points of geopolitical friction globally. With positive industry tailwinds, there is scope for wealth creation from the industry.

Leonardo DRS (NASDAQ:DRS) is among the emerging defense companies that hold immense potential. In the last 12 months, DRS stock has surged by 64%. However, with a swelling order backlog and focus on next-generation defense technology, I expect the stock to remain in an uptrend.

It’s worth noting that as of Q1 2024, Leonardo reported an order backlog of $7.8 billion. On a year-on-year basis, the company’s backlog swelled by 84%. If the order intake remains robust, I expect revenue growth acceleration.

Further, Leonardo reported an adjusted EBITDA margin of 10.2% for Q1 2024. On a year-on-year basis, EBITDA margin expanded by 160 basis points. With operating leverage, I expect margin expansion to sustain coupled with cash flow upside.

Miniso Group (MNSO)

Miniso Group (NYSE:MNSO) is a lifestyle retailer with global presence and aggressive growth plans. In my view, MNSO stock is massively undervalued at a forward P/E of 14.8. Further, the stock offers an attractive dividend yield of 2.22%.

While MNSO stock has remained sideways in the last 12 months, business developments have remained positive. For Q1 2024, the company reported healthy revenue growth of 26% on a year-on-year basis to $515.7 million. For the same period, EBITDA increased by 36.7% to $133.7 million. Growth has therefore been associated with EBITDA margin expansion.

In terms of expansion plans, Miniso intends to open 900 to 1,100 new stores annually between 2024 and 2028. The lifestyle retailer has also guided for revenue CAGR of over 20% during this period. With operating leverage, EBITDA margin is likely to expand and as cash flows swell, dividend growth will be robust.

ZEEKR Intelligent Technology (ZK)

ZEEKR Intelligent Technology (NYSE:ZK) is a recently listed EV company that holds promise. The company is involved in the production of EVs and batteries with presence in China, Europe, and several other markets.

Recently, ZEEKR announced June deliveries and the numbers were stellar. For the month, the EV company delivered 20,106 vehicles, which was higher by 89% on a year-on-year basis. Further, for year-to-date, deliveries growth has been 106% to 87,870 vehicles.

In a major development, ZEEKR entered into agreements with PT Premium Auto Prima and Sentinel Automotive. This gives the company an entry into Indonesia and Malaysia respectively. These are attractive emerging markets and will boost deliveries growth.

It’s worth noting that for Q1 2024, ZEEKR reported operating level losses. However, vehicle margin was healthy at 14%. With stellar top-line growth, I expect losses to narrow. Further, ZEEKR has strong support from its parent company, Geely Group. I therefore don’t see any concerns related to financing growth and R&D.

Cronos Group (CRON)

Among the penny stocks with millionaire-maker potential, Cronos Group (NASDAQ:CRON) looks attractive. The cannabis stock has been trending higher, but remains undervalued. With the possibility of regulations turning friendlier for the industry, CRON stock can go ballistic.

I like the fact that Cronos has a strong cash buffer of $855 million. This will allow the company to pursue organic and acquisition driven growth in the coming years.

While Cronos has not be active on the acquisition front, the company is focusing on geographic expansion. In the last few quarters, the cannabis player has entered Germany, Australia, and the United Kingdom. Considering the financial flexibility, further inroads in Europe is likely and will support growth acceleration.

For Q1 2024, Cronos reported revenue growth of 30% on a year-on-year basis to $25.3 million. With the recent geographic expansion, I expect robust growth coupled with improvement in EBITDA margin. It’s likely that Cronos will achieve EBITDA break-even in the next few quarters. That’s an impending catalyst for CRON stock surging higher.

MakeMyTrip (MMYT)

MakeMyTrip (NASDAQ:MMYT) stock has skyrocketed by 200% in the last 12 months. After a big rally from oversold levels, MMYT stock valuations look stretched. I would wait for a 15% to 20% correction from current levels before considering fresh exposure.

Having said that, there is no doubt that MakeMyTrip will continue to grow at a healthy pace in the coming years. The company is India’s largest online travel booking services provider.

It’s expected that Indian travellers will be the fourth largest global spenders by 2030 with the spending predicted to hit $410 billion. Clearly, there is a big opportunity and MakeMyTrip is well positioned to benefit.

It’s worth noting that MakeMyTrip had reported operating loss of $69.9 million for financial year 2020. For the last financial year (FY24), the company reported operating profit of $124.2 million. With healthy revenue growth, operating leverage will ensure further improvement in margins. The business is likely to be a cash flow machine in the next few years.

On the date of publication, Faisal Humayun 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 InvestorPlace.com Publishing Guidelines.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.