The market is already boiling, with the S&P 500 already sitting on a near-record high, having jumped 15% in the first half of 2024. Much of this jump is attributed to the hyper-growth stocks propping up investors’ faith in the stock market. Hyper-growth stocks are stocks that analysts expect to increase their revenue and earnings faster than the market growth rate. 

For many investors, hyper-growth stocks are a strong buy since they are supported by solid business models and economic fundamentals that establish a competitive edge and guarantee quick expansion. Thus, investors can earn massive profits faster with hyper-growth stocks. 

These three hyper-growth stocks are punching way above the market returns, leading in the fast-growing tech and innovation front. They also have solid margins and a projected growth trajectory that will continue increasing. While not all growth stocks are worth buying, here is how buying these three hyper-growth stocks can catapult your net worth.

Pinduoduo Holdings (PDD)

Pinduoduo Holdings (NASDAQ:PDD) is a Chinese e-commerce giant taking the online retail industry by storm. If you’ve used or heard of Temu recently, that’s PDD. Temu is shaking the online retail fabric with its ridiculously cheap products shipped directly from sellers in China to buyers in the U.S., cutting out the middlemen. 

Now PDD is considered a hyper-growth stock that has exceeded expert estimates and recorded some of the best figures in the past year. The company’s revenue grew by 131% YOY to hit $12 billion, surpassing estimates by over $1.41 billion. PDD stock has also seen over 5.7% increase in the last quarter. Now analysts project PDD stock will continue to grow in the future, with every market factor favoring the growth and expansion of the company. 

With the e-commerce industry expected to hit $8 trillion in revenue by 2027, PDD’s disruptive business is sustainable and strategically positions it to claim a huge chunk of this market. Moreover, its subsidiary, Temu, operates a disruptive business model that removes inline intermediaries, and instead connects sellers and buyers directly, enabling sellers in China to ship directly to buyers in the United States at a significantly cheaper price.

Lucid Motors (LCID) 

Lucid Motors (NASDAQ:LCID) is an American EV company focusing mostly on the high-end market. The company delivers EVs with prices ranging between $75,000 and a quarter a million for its luxurious Lucid Air Sapphire, setting it slightly above the standard EV price range. 

Even with the dwindling EV market, Lucid has delivered some of the best market results recently. This led to a consensus on Wall Street at the beginning of the year that Lucid will see sales growth of over 112% in 2024 to hit $1.34 billion. 

Lucid expects to announce its Q2 delivery somewhere in the coming weeks, with many expecting that it will surpass the previous records. The Q1 already saw a bearish delivery when Lucid delivered 1967 units, marking a 40% increase from a year ago. 

The slowing US economy has shaken the EV industry, with the projected U.S. EV sales in 2024 expected to drop to 8% from the anticipated 10%. However, these grim industry statistics will barely affect Lucid.

The company mainly caters to the affluent customer segment, which seems barely affected by the consequences of a slowing economy, such as reduced purchasing power. Similarly, the EV industry could grow globally to address the growing climate change concern, and Lucid stands well placed to claim the growing share of the EV industry. 

Symbotic (SYM)

Symbotic (NASDAQ:SYM) is one of the tech companies riding the AI wave. The Massachusetts-based company specializes in warehouse automation through machine learning robotics, revolutionizing the supply chain sector.

SYM has had successful years in the recent past. The company’s Q1 reporting in May reported a 79% increase in sales from last year, with the May Q1 report suggesting it raked in $424 million in revenue compared to $267 million earned in the same period in 2023. 

The company has strived to improve its AI technology to increase efficiency within the supply chain system, introducing advanced routing algorithms that have since improved their bot capacity. 

The routing algorithm calculates an optimal path for each robot to maximize overall system efficiency and minimize stop-and-go actions that create energy loss and excess wear on the robot.

With the global supply chain industry anticipating a surge in the use of digital technologies and over 71% of the industry leaders reporting they expect to prioritize data drive approaches in 2024, SYM operates strategically positioned to seize this opportunity and lead the supply chain industry in using AI to automate warehouse operations. 

The strong growth trajectory and the higher potential for expansion make Symbiotic a good hyper-growth stock to catapult your net worth.

On the date of publication, Joel Lim 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.

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