In today's video, I look at the growth stocks Airbnb (NASDAQ:ABNB), Coinbase (NASDAQ:COIN), and Lemonade (NYSE:LMND). The stock prices for each have dropped roughly 27% to 60% from their 52-week high. Below I share three bullish reasons for each stock on why you should add them to your watch list.
Three reasons to add Airbnb to your watch list
- Airbnb reported a 5% year-over-year revenue growth for the first quarter of 2021, despite some areas still experiencing closure due to the pandemic.
- Airbnb has strong fundamentals as it is positive in cash flow from operations and has roughly three times more cash and short-term investments than debt.
- Airbnb can benefit as certain parts of the world continue to open back up, and more people begin to travel again.
Three reasons to add Coinbase to your watch list
- Coinbase reported an 842% year-over-year total revenue growth and a 62% adjusted EBITDA margin for the first quarter of 2021.
- Coinbase has exceptional fundamentals as it is profitable, highly positive in cash flow from operations, and has roughly four times more cash and short-term investments than debt.
- The current volatility and popularity of cryptocurrencies could indicate that Coinbase will have a solid second quarter.
Three reasons to add Lemonade to your watch list
- Lemonade reported a 25% year-over-year premium per customer growth and a 50% year-over-year total customer growth for the first quarter of 2021.
- Lemonade has strong fundamentals as it is positive in cash flow from operations and has substantial cash and short-term investments compared to zero debt.
- Lemonade continues to announce new products. In less than a year, the company has already announced three new products. The most recent is Lemonade Car, a car insurance product.
Click the video below for my full thoughts.
*Stock prices used were the midday prices of May 17, 2021. The video was published on May 17, 2021.