The stock market started out the month of september, very strong by posting new all-time highs, but since then it's been dipping if your stock portfolio has been declining. I personally think you shouldn't worry, because i truly believe this is an opportunity to buy some of the best stocks at a discount. What is going on moon gang welcome back. My name is matt and in this video i will be discussing five companies with huge growth potential that are all worth a spot on your watch list for the rest of this year and then some make sure you stick around until the end, because i will also Be sharing some of my personal opinions on the state of the overall market if you're interested in this type of content - and you want to be a member of an awesome community - join the moon gang by hitting the subscribe button and don't forget to turn on your Notifications, so you don't miss any of the new videos alrighty then, let's get started.

The first two stocks i'll be discussing are technology companies that have been massive beneficiaries of the new stay-at-home economy. The first is shopify, which is an e-commerce platform that makes it extremely easy to build an online business, as you can imagine, e-commerce has grown exponentially this year and shopify was well positioned to ride the wave from the start of 2020. Until now, shopify is up. 130 percent over the past six months, it's up 116 and over the past month, it's down just under six percent from 2015 until 2019, shopify's total revenues grew at a considerable rate, from 200 million to 1.6 billion and over the past 12 months.

Their total revenues sits at an incredible 2 billion. Their gross profit has also grown 10-fold from 100 million to 1.1 billion. Many investors think that shopify is overpriced and is trading at a premium, because it's currently operating at a loss of 67 million dollars. But honestly that doesn't really bother me, because shopify is continually growing and they're already a dominant player in the e-commerce sector, which has become an integral part of our society.

According to wall street analyst out of 32 polled 11 have a buy rating and two are saying outperform at the time i'm making this video shopify is trading at 914 dollars and over the next 12 months they have a median price target of 1150 with a high Price target of 1400, i would never recommend that you arbitrarily buy a stock beyond doing your own research. You should attempt to buy as close to support as possible because it helps optimize your risk to reward shopify trades under the ticker shop, and the first support is pretty close by at 883 below. That would be the high from may at 842 and as a reach target, you could watch 780.. I personally don't own any shares of shopify at the moment, but i will be watching closely to see how it reacts to these levels of support, because i think the e-commerce sector in general has a bright future.

The second stock on this list is square. This company offers wildly popular payment systems and is expanding into e-commerce. In fact, square is creating a really cool ecosystem of merchant services from the start of 2020. Until now square is up 119 over the past six months, it's up 120 and over the past one month.

It's down 0.6 percent squares income statement, screams growth in 2015, their total revenues was 1.2 billion, and now it's all the way up to just under 6 billion and their gross profit has exploded from 375 million to 2.1 billion. To make things even better square has recently become a profitable company as recent as 2018. They were operating in the red, but now they have a profit of over 300 million dollars out of 42 wall. Street analysts 17 are saying bye and one is saying outperform at the time i'm making this video square is trading at 137 and the median target over the next 12 months is 160 and the high target is 265, which is a 93 upside squared trades under the Ticker sq and since the start of september, the stock has taken a 19 hit.

In fact, the first support level of 134 has now been tested on four separate occasions. If the bears pushed the stock below this, i would then be paying attention to 117, and then this would be followed from the low in july at 111.. Unlike shopify, i do currently own shares of square and my average cost is roughly 127. if the stock is pushed to either these bottom two support levels.

I would be happy to add to my position because, as i said before, i think the e-commerce sector has a bright future. The third stock on this list is the online sports betting company draftkings. The reason why i put draftkings on this list is pretty simple. I think online gambling is about to explode, as you can see from this picture.

Draftkings is currently sanctioned in eight different states. Imagine how big the company will get when it's allowed in all 50 states in this calendar year. Draftkings is currently up 288 over the past six months, they're up 233 and over the past one month, they're up just under 30 as online sports betting has become legal in more and more states draftkings, as a company has grown in 2017. Their total revenues was 192 million, and now it's all the way up at 357 million and in the same time frame, their gross profit has gone from 160 million to 202 million.

Draftkings is currently operating at a loss, but that doesn't really bother me because it's only allowed in eight states as draftkings expands throughout the us. I'm fully expecting the company and its stock to explode out of a group of 15. Analysts 10, give draftkings a buy rating at the time i'm making this video the stock is trading just above 41 and over the next 12 months. The median price target is 49 and the high price target is 60.

draftkings trades under the ticker dkng, and it's had a pretty impressive year in march it was trading as low as 11, and now it's up at 41, which isn't too far off from the all-time High just below 45., from a technical perspective, it looks like a cup and handle pattern could be forming and in terms of levels of support, the first one i would be watching would come just below 39. If you think this particular support is too close and the stock could go lower, i would recommend watching 35.4 and if the stock is pushed below that, i would recommend watching the low from august at 30.5. The fourth stock on this list is penn national gaming. This company owns 41 gaming and racing properties in 19 states, but i think their best asset is barstool.

Sports barstool is a dominant sports company that offers hilarious commentary on many things going on in the world and i think they're about to become more dominant because it was recently announced that they're opening a sports book in pennsylvania, which will be a huge benefit to penn National gaming from january of 2020 until september penn is up 131 over the past six months. It's up almost 200 percent and over the past one month, it's up a notable 27. As you can see here, pen is a much larger company than draftkings. Their total revenues have gone from 2.8 billion to 4.1 billion, and their gross profit has grown from 1.2 billion to 1.8 billion similar to shopify and draftkings.

Penn is currently operating at a loss, but if there's one thing, i've learned about gambling it's to not bet against the house. Jokes aside, though, penn is currently operating at a loss, because casinos were shut down for a majority of the year, which is another reason why barstool an online company was a great acquisition out of 15. Analysts 10 currently have a buy rating on pen, which is currently trading at 59 over the next 12 months. The median target is 55 and the high target is 80..

You have to keep in mind that these forecasts are very rona specific. The earlier that the world opens back up, these targets would be shifted, higher penn national gaming trades under the ticker p-e-n-n, and it's also had a very impressive year in march. It was down at four dollars and now it's all the way up at 59, after making a new all-time high just below 66.. From a technical perspective, the first support would come at 51 and the next one would be kind of far away at 39, which has served as resistance on three separate occasions.

As of now, i don't own any shares of pen or draftkings, but i really think sports betting is about to explode within the u.s, so i would be happy to buy either of these companies at levels of support. The last stock on this list is the fan. Favorite, electric delivery van company workhorse workhorse has been a hot topic this summer, because the ev sector has been booming and on top of that, this specific company is in the running for a 6.3 billion dollar contract with the u.s postal service and as a quick reminder, The winner of that contract is expected to be announced in september from the start of 2020. Until now, workhorse is up a jaw dropping 680 over the past six months.

It's up almost a thousand percent and over the past one month, it's up 55, as you can see from workhorses total revenues, gross profit and net income. It's a pretty small company. This means, if workhorse wins the usps contract, which i really think they will it's stock. Could easily sale past forty dollars out of five analysts, four rated workhorse has a buy.

Its stock is currently trading at twenty three dollars and over the next twelve months, the median target is 24.5 and the high target is 27. workhorse trades under the ticker wkhs and similar to pen. It just posted a brand new high, as things currently stand. The first level of support would come at the previous high from early july at 22.9, but i would suggest paying more attention to the next level of support just below 20..

If the stock is pushed below this, you could always watch 15.5. But if i'm being honest, i think there's a decent chance that the stock never trades at this bottom level again at the time i'm making this video, i do own shares of workhorse that i bought when the stock broke above this blue trendline, as i quickly mentioned Before i personally think that 40 is a very realistic target for workhorse, but with that being said, workhorse is well positioned within the ev sector. So i would be more than happy to hold my shares for years to come now that i've discussed five of the top companies that i'm personally watching with huge growth potential. I want to share something that i've noticed in two of the major indices on the screen.

Now is the daily chart for the s p 500. It has been caught in an upward channel since april, and this technical structure is referred to as a bear channel and, as you can see, the story is very similar with the nasdaq 100. Both indices have now closed below their respective channel for the third time. This is commonly a bearish signal.

Now, i'm in no way calling for a doomsday. It's just something i wanted to bring to your attention, so you can move forward with proper risk management. The list of stocks i covered in this video are in no way extensive, there's a lot of opportunity across the market right now with that being said, i would love to know your opinion on the companies i discussed in this video and whatever you think the best Current opportunity is feel free to leave a comment below thanks for watching to this point in the video. I truly appreciate your support.

If you have any suggestions for what i should cover next or even any recommendations for improved lighting, audio or overall presentation style, please don't hesitate to reach out to me if you enjoyed the video. Let me know by hitting the like button and if you want to join the moon gang subscribe to the channel and don't forget to turn on your notifications. Thanks for the support and until next time best of luck in the markets, you.