I believe more appreciation is necessary for ASAN to be at a fair value. The company estimates that its TAM will reach over $50 billion by 2025, driven by the increasing demand for remote work and digital transformation solutions.įurthermore, Asana expects to accelerate its revenue growth to 45% in fiscal 2023, up from 34% in fiscal 2022. Plus, his pockets are deep enough to pull Asana out of any cash deficiencies.Īnother reason I like Asana is its large and growing total addressable market (TAM). This shows his confidence and commitment to the company, and I don’t doubt his experience in the tech sector. He owns about 58% of Asana and has been buying more shares on the open market. As one of the co-founders of Meta Platforms (NASDAQ: META), Moskovitz has a net worth of over $9 billion. One of the primary reasons that Asana is on this list of millionaire-maker stocks is that the company is its CEO, Dustin Moskovitz. But I think the stock is trading at compelling levels right now and could soon turn a corner. The company, which provides cloud-based project management and collaboration software, has seen its share price drop by more than 88% from its all-time high of $141.6. If you’re looking for a high-growth tech stock that could bounce back strong in 2023, you might want to consider Asana (NYSE: ASAN). Personally, I believe explosive gains are possible in the near term, especially if its Q1 report surprises. Analysts, on average, believe that the stock could deliver a 128.6% return in one year. It also has a substantial backlog of $3.4 billion, reflecting its strong customer demand and long-term contracts.

The company expects to grow its revenue by triple digits every year for the next five years, leading to a 32-fold expansion in sales. The company has a huge opportunity to capitalize on the self-driving car market, which is expected to grow exponentially in the coming years. Luminar Technologies has developed a proprietary lidar system that is cheaper, faster, and more reliable than its competitors. Lidar is a key component of self-driving cars, as it enables them to sense and avoid obstacles and navigate complex environments. Luminar Technologies is a leader in lidar technology, which uses lasers to measure distances and create 3D maps of the surroundings. Sounds amazing, right? Well, that future is closer than you think, thanks to companies like Luminar Technologies (NASDAQ: LAZR). Imagine a future where you can sit back and relax while your car takes you to your destination safely and efficiently. One of the most exciting trends in the automotive industry is the development of self-driving cars. In short, I believe it is a rare opportunity to snap up some millionaire-maker stocks at bargain prices. But these are short-term noises that will soon fade away and leave behind a clear path for growth. It also means that many high-quality stocks are trading at oversold levels as inflation fears and a recession on the horizon keeps investors at bay.

We may be at the terminal rate now, but this is a drag for the stock market as it lowers corporate earnings and investor confidence. The Federal Reserve has been continuously hiking interest rates, which means that the cost of capital is high and the liquidity is low.

Nonetheless, we’re in a tough spot for the stock market right now. Thanks to their huge growth potential, high-risk, high-reward stocks could turn a small investment into a fortune, which is why they’re my go-to for millionaire-maker stocks. Another pathway is investing in high-risk, high-reward assets. To become a millionaire in the current environment, you’d either have to start with a very high capital or you would have to invest for years. InvestorPlace - Stock Market News, Stock Advice & Trading Tips

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