After falling for seven straight weeks, the stock market finally saw some relief last week. Stocks with high growth potential are catching a bid from investors as they look to scoop up cheap shares.

Despite many calls for a bear market, the market rallied after last week’s Fed minutes. Will the rally turn into a bear market bounce? Or is this the start of another bull run? There are strong advocates on both sides with compelling arguments.

For one thing, inflation is near 40-year highs , the war in Ukraine is intensifying, and companies are reporting higher costs with changing consumer behavior.

At the same time, the job market is strong, consumers are still spending, and inflation may be peaking. Meanwhile, earnings season is showing us consumer habits are shifting as inflation cuts into budgets.

For many companies, the shift will drastically affect sales. On the other hand, below are stocks with high growth potential expected to expand operations while leading their market to new heights. Top Stocks with High Growth Potential Economic downturns can cause some businesses to close their doors when not prepared. For example, well-known companies like JCPenney and Hertz car rental filed for bankruptcy during the pandemic.

However, it also creates the opportunity for change. Some of the most innovative companies are born as a result. What made companies successful before may not work as well from now on. Therefore, companies prioritizing innovation have a better chance of capturing the changing consumer demands.

Finally, the top stocks with high growth potential to invest in are innovating for a better future. Below are the top five. No. 5 ChargePoint (NYSE: CHPT)

Market: EV Charging

YOY EPS Growth: 90%

YOY Revenue Growth: 87%

ChargePoint was the first global EV charging company to go public last March. Since then, the company has been progressing the much-needed EV charging network.

With global EV sales doubling this past year, charging ports are more needed than ever. So far, ChargePoint has over 174K ports and 300K total available with roaming.

In fact, the company ranks No. 3 in Fast Company’s World’s Most Innovative Companies in North America this year. With a first-mover advantage and ports that fits most EV types, the company looks to be on a path to sustained growth.

Lastly, the Infrastructure Investment and Jobs Act designates $15 billion EVs, with $7.5 billion for building a charging network. This sum can help fuel ChargePoint’s expansion to support the growing need for EVs. No. 4 Alphabet (Nasdaq: GOOGL)

Market: Search/Video/Ads

YOY EPS Growth: -6%

YOY Revenue Growth: 23%

As the world’s largest search engine (+85% market share), it only makes sense Google generates the most ad revenue. In fact, in the first quarter , Google advertising grew another +20%($54.6 billion) as companies continue moving online.

Though EPS fell in Q1, much of the blame is due to losses from the company’s Other Bets segment, including Waymo (Self-Driving) and Wing (Drone Delivery).Most importantly, Google-owned YouTube continues to dominate the short video streaming market. According to a study from Nielson, YouTube makes up over 50% of ad-supported streaming time for people over 18.Lastly, GOOGL stock is down almost 26% from its ATH of $3030 per share. As a result, Google is trading at a discount compared to other mega-cap companies by nearly every metric. Keep reading for more info on stocks with high growth potential. No. 3 Airbnb (Nasdaq: ABNB) Market: Vacation Rentals YOY EPS Growth: 98% YOY Revenue Growth: 70% With the pandemic fading and travel restrictions being lifted, Airbnb is back in business. But the company is more than a vacation rental company. Airbnb is also a tech company, connecting hosts with guests through its platform.At this point, the name Airbnb is essentially synonymous with vacation rentals. For this reason, guests feel more comfortable staying with a well-known brand.Evidently, the brand awareness is paying off with over 100 million nights booked for the first time in Q1 , well above pre-pandemic levels. Not only that, but Gross Booking Value is also up 73% from 2019 levels, showing the businesses resiliency.As we see from retail earnings, high-income spenders are still spending. So, even if the economy slows, Airbnb looks to be one of the best stocks with high growth potential in the long run. No. 2 Livent Corp (NYSE: LTHM) Market: Lithium YOY EPS Growth: 950% YOY Revenue Growth: 56% Livent Corp produces lithium for several uses, including EV batteries . With demand for lithium soaring, prices are up close to 500% in the past year.Furthermore, the demand doesn’t look to […]

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