Over the long run, value stocks have outperformed growth stocks on an annualized basis. But since the end of the Great Recession, the roles have reversed. Historically low lending rates and a highly accommodative Federal Reserve have rolled out the red carpet for fast-growing companies looking to borrow at extremely cheap rates. These low lending rates are encouraging growth stocks to hire, acquire, and innovate.

Even with the U.S. economy bouncing back from its worst recession in decades, the nation's central bank has stated its intent on several occasions to keep lending rates at or near historic lows. That's an open invitation for growth stocks to keep chugging higher.

As we move headlong into the second quarter, the following three growth stocks stand out for having all the tools needed to make investors a lot richer.

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Zoom Video Communications

One of the easiest ways to build wealth over time is to buy into businesses that hold significant market share in fast-growing trends. That's why web-conferencing giant Zoom Video Communications (ZM 0.09%) gets the nod.

To state the obvious, Zoom was arguably the biggest winner of the coronavirus pandemic. With most traditional workplaces disrupted by the pandemic, businesses big and small turned to Zoom's conferencing platform to stay in touch and keep projects moving. Zoom ended the year with 467,100 clients that had at least 10 employees, which was a 470% increase from where it finished 2019. Not shockingly, total sales for the company more than quadrupled to $2.65 billion. 

The big question is, "What about after the pandemic ends?" While it's highly unlikely we'll see 326% year-over-year sales growth again, Zoom has established itself as the go-to destination for web conferencing. As of one year ago, it held a nearly 43% share of the U.S. web conferencing market. Considering the value web conferencing has added to the workplace, it's doubtful that we'll see businesses abandon Zoom once things return to normal.

If you need an added reason to feel confident about Zoom, consider that founder and CEO Eric Yuan owns a healthy percentage of his company's outstanding shares. Even after transferring approximately 18 million shares in March to unspecified beneficiaries, Yuan still directly owns more than 25 million shares. When a founder with a large vested interest in their company sticks around, good things tend to happen for shareholders. 

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Jushi Holdings

It's no coincidence that cannabis is green, because marijuana stocks should have investors seeing a lot of green this decade. The pot stock that growth investors should consider adding to their portfolios right now is small-cap U.S. multistate operator (MSO) Jushi Holdings (JUSHF 1.72%).

If you haven't heard of Jushi before, it's probably because it's a small operation relative to MSO giants like Curaleaf. A month ago, Jushi opened its 17th dispensary, 11 of which are located in Pennsylvania. In total, the company has a presence in around a half-dozen states, with enough licenses in its back pocket to operate more than two dozen retail locations in legalized markets.

What stands out about Jushi is the core markets it chooses to operate in: Pennsylvania, Illinois, and Virginia. These three states are expected to make up 80% or more of the $205 million to $255 million in sales Jushi brings in this year.

What's notable is that Pennsylvania and Illinois limit how many retail licenses they'll issue, while Virginia assigns retail licenses by jurisdiction. Put another way, Jushi has entered markets where its competition will be limited (Pennsylvania and Illinois) or nonexistent (Virginia). This wisely allows the company an opportunity to establish its brands and build up a loyal following.

Similar to Zoom, Jushi execs also aren't afraid to put their money where their mouths are. Approximately $45 million of the first $250 million in capital raised for Jushi's expansion efforts came from executives and company insiders.

With Jushi, patient investors are getting perhaps the fastest-growing cannabis stock over the next five years. Considering that most U.S. MSOs are going for around five times Wall Street sales forecast for 2022, Jushi is a veritable bargain at roughly two times Wall Street's projected forward-year sales.

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A third growth stock that could make investors a lot richer in the second quarter and well beyond is Exelixis (EXEL 0.22%).

Whereas most biotech stocks are losing money or are in search of that elusive blockbuster drug, Exelixis is very profitable and looks to have found its blockbuster. Lead-drug Cabometyx is approved as a first- and second-line treatment for advanced renal cell carcinoma (RCC), as well as advanced hepatocellular carcinoma. These indications alone should help Cabometyx surpass $1 billion in net sales this year or in 2022.

But Exelixis isn't even close to being done with its lead drug. Cabometyx is being examined in around six dozen ongoing clinical trials. If even a handful of these trials hit their primary endpoints in late-stage studies, the label-expansion opportunity for Cabometyx could make it a multibillion-dollar drug each year.

It's worth noting that one of the company's label-expansion studies led the Food and Drug Administration in January to approve the combination of Cabometyx with Bristol Myers Squibb's cancer immunotherapy Opdivo as a treatment for first-line advanced RCC. Even though Opdivo is a chief rival of Cabometyx, the combination therapy could allow both companies to secure an even larger share of first-line advanced RCC treatment. 

Another great thing about Exelixis is that it's flush with cash. The company expects to end 2021 with $1.6 billion to $1.7 billion in cash and investments, which works out to nearly a quarter of the company's current market cap. This cash is allowing Exelixis to reignite its internal research program. It might also encourage the company to go on the offensive and acquire new therapeutics.

With a price-to-earnings-growth (PEG) ratio near 1, Exelixis offers the perfect balance of double-digit sales growth and value for long-term investors.