CROX stock is soaring today, but it’s long-term performance is even more impressive — the stock has quadrupled over the past year. And seemingly nobody saw this coming… Except us. We saw the trend Crocs (NASDAQ:CROX) was at the forefront of while it was still emerging, and we saw the stock’s potential before everyone else caught on.
On June 11 of last year, we recommended CROX stock to subscribers of InvestorPlace’s Daily 10X Stock Report, which is where we deliver to your inbox — every single day — a single stock we think has the potential to rise 10X or more.
If you had invested in CROX at that point, back when you could get your hands on the stock for around $30, you would be up 335%.
And CROX isn’t our only golden goose. We’ve picked nearly 100 triple-digit winners and six different 10X winners in just a year.
CROX Stock Isn’t Done Yet
If you don’t own CROX yet, don’t fret. We see this stock having plenty of upside left.
For one, there’s a lot of momentum today. Revenues are up over 93% in the second quarter. And Crocs is guiding for roughly 65% revenue growth in the third quarter.
Crocs is the hottest footwear brand in the world.
What we see happening in the footwear industry — and fashion industry, in general — is a shift in consumer mindset towards function over form. Consumers are increasingly favoring clothes that “work well” over clothes that “look good.” The pandemic was a catalyst for this trend, but we don’t see the growth of functional fashion stopping soon.
And when it comes to functionality, Crocs is the undefeated champion at the epicenter of this trend.
Their signature clog is the most utilitarian, economical and durable shoe on the market. They cost about $40 and can be worn for any kind of event. We know individuals who wear the same pair of Crocs to the gym that they wear to a nice dinner.
Add to that the fact that consumers have access to an ever-growing supply of Jibbitz™ (unique trinkets that pop in the holes in Crocs to add flair and personality), and you’ve got yourself a functional shoe that is also highly personal. People love their Crocs, moreso than other pairs of shoes, because they can make them their own.
And Crocs also offers “Crocs at Work™” for those who are unable to rock their colorful, decked out Crocs at the workplace for safety-related reasons. These work Crocs have an enclosed heel and toe, enhanced arch support and everything else you’d want in a work shoe.
The Bottom Line on CROX Stock
The shift to function over form in the fashion market is a sustainable driver of increased Crocs adoption. And the unprecedented growth experienced by this stock is not set to end soon.
Consumers want to be comfortable. And as far as comfort goes, Crocs really is the name of the game.
So, while celebrity endorsements from folks like Justin Bieber have helped the brand tremendously over the last 12 months, we believe the Crocs brand will sustain robust sales momentum as consumers more broadly and permanently embrace comfort in fashion.
Definitely consider CROX stock, since it still has solid upside.
CROX is but one of my top picks where, long-term, Crocs will score investors big returns, but it’s far from the only hypergrowth stock on my radar.
In fact, in my free e-letter, Hypergrowth Investing, I cover emerging megatrends and high-risk, high-reward stock picks each and every day. By becoming a subscriber, you’ll never have to pay a dime and will always get high-quality information on a number of market themes and picks that could make you a ton of money over the near- to long-term.
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On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.