Stocks that generate outsized gains can be found on the stock market if you know where to look. Great businesses are often right in front of our eyes, and for those who can ride a shifting consumer or business environment, the opportunities are tremendous. Sometimes, there are even opportunities to grow into new, untapped markets. 

Today, I think Fiverr (FVRR -1.72%), MGM Resorts (MGM -3.16%), and Spotify (SPOT 0.59%) have great businesses that could be value buys today, but also growth opportunities that could make them monster growth stocks for long-term investors. 

Bag with dollar sign and coins on a table.

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The future of work

Work is changing rapidly, and both companies and workers are finding value in the freelance model. On platforms like Fiverr, companies and individuals can find thousands of skilled freelancers all over the world. Freelancers can bid what they want for jobs and work as much as they want. There's value for both sides, and Fiverr sits in the middle. 

Financially, Fiverr isn't profitable yet, but its financial position is improving rapidly. Revenue grew 82% in the second quarter of 2020, and management expects revenue to grow 66% to 68% in 2020. As the company grows, it should see operating leverage, leading to a quick improvement on the bottom line.

FVRR Revenue (TTM) Chart

FVRR Revenue (TTM) data by YCharts

If freelancing continues to grow, Fiverr is well-positioned to capitalize on the market and generate value for both companies and workers. And that could make it a monster stock long-term. 

Las Vegas is just the beginning

MGM Resorts is one of the biggest casino companies in the world, and if Las Vegas, U.S. regional gaming, and Macau recover after COVID-19, the stock could do well. But that's not what will make this a monster stock. 

MGM has quietly built one of the most expansive online betting businesses in the U.S. and has valuable partnerships with the NBA, NHL, and MLB. Investors are betting that companies like DraftKings and Everi Holdings will build huge businesses as more betting moves online, but MGM Resorts has bigger brand names and a physical footprint these companies can't match. BetMGM is only available in five states right now (including Nevada), but it could expand nationwide over the next few years, and in states that require a physical presence the lead may be insurmountable. 

Today, legal online gambling and sports betting is a small business that's only available in a handful of states. But if that grows to most of the country over the next decade and goes more mainstream, it could be a multi-billion business in the U.S. Grand View Research even thinks online gambling could be worth $127.3 billion globally by 2027. MGM could end up being the market leader in U.S. online gambling and could even take the business worldwide. Pre-pandemic, this was already a strong cash-generating business, and with a market cap of only $12 billion, the upside potential from online gambling is too good to pass up. 

Podcasts could be the future 

Spotify is one of the most influential companies in the world of music, playing the role of distributor of content to millions of subscribers around the world. But that's not what the company is betting on as its future. Podcasts are what the company sees as its biggest opportunity, and it has the potential to disrupt audio content. To that end, it's spent hundreds of millions of dollars to add technology companies like Gimlet Media and Anchor, as well as content from big names like Bill Simmons and Joe Rogan.

If podcasts continue to grow as a medium, there's a valuable place for a distributor like Spotify to play. It can be the advertising platform content creators use to monetize their content, and with millions of users, it could serve up ads better than any other company. Customized ads for you while you stream a podcast is likely the future of the medium. If Spotify solidifies its presence in the market, it could be the advertising platform of choice for podcasts. 

For users, Spotify is already racking up exclusive content in the podcast space. This may not put podcasts behind a paywall, but would entice users to be on the platform, growing the base of users for future ads. More users means more creators, and so on. 

I don't think audio podcasts are the end either. There's no reason podcasts can't change their format to video as well and add in new video or audio on-demand options. Podcasts may be the future, but the podcasts we see today may be just the beginning. That's why Spotify has a bright future and could be a monster tech stock

A world of potential

Notice that all three of these companies have a core business that's growing, but also have incredibly high potential growth businesses as well. That's what can make a monster stock, and investors getting in today can ride the growth wave in work, gambling, and audio with these three stocks.