If there’s one lesson the stock market teaches time and again, it’s the importance of patience and seeing your investment thesis through over the long run.

For instance, even though the benchmark S&P 500 has undergone 38 double-digit percentage declines since the beginning of 1950, each and every one of these drops was eventually put into the rearview mirror by a bull-market rally. A more recent example is the coronavirus crash, which featured the quickest decline of 30% in the broad-based index in history. Since hitting its trough in March 2020, the widely followed S&P 500 has doubled in value.

To make serious money on Wall Street, investors need to recognize that time is their ally. If becoming a millionaire is one of your financial goals, it’s perfectly doable within 15 years, if not sooner, if you put $100,000 to work into the following high-growth stocks and don’t sell. Image source: Getty Images. Teladoc Health

The single biggest driver of life-altering investing gains is innovation; and investors will get plenty of transformative innovation with telemedicine company Teladoc Health ( NYSE:TDOC ).

According to skeptics, Teladoc still has a lot to prove. It was in the right place at the right time when the coronavirus pandemic struck, with physicians turning to virtual visits to keep high-risk and potentially infected patients out of their offices. The naysayers are of the opinion that Teladoc’s growth will slow dramatically once the pandemic comes to an end.

While there will undoubtedly be some very short-term slowing in sales growth as life returns to some semblance of normal, the skeptics’ thesis completely overlooks how Teladoc is altering personalized care .

To begin with, virtual visits are an improvement up and down the healthcare treatment chain. It’s far more convenient for patients to consult with their doctor or a specialist from their own home. Likewise, it’s easier for physicians to keep closer tabs on chronically ill patients who might need more oversight. This ease-of-use should translate into improved patient outcomes and less money out of the pockets of health insurers. This last part is especially important, since it means health insurers are likely to promote the use of telemedicine services.

There’s also plenty of real-world data showing that Teladoc Health’s services were gaining steam well before the pandemic . In the six years leading up to 2020, Teladoc sales grew by an annual average of 74%. Growth like this isn’t a fluke. It signifies a sustainable shift in the way care is being administered.

Another advantage for Teladoc is the company’s acquisition of leading applied health signals company Livongo Health during the fourth quarter of 2020. Livongo leans on artificial intelligence to send its chronic care members tips so they can lead healthier lives.

As of June, Livongo had 715,000 chronic care enrollees, which represents just the tip of the iceberg. With a focus on diabetes, hypertension, and weight management, Livongo’s services could be applicable to a large percentage of U.S. adults. And given the potential for improved patient outcomes, health insurers are likely to promote its services.

Teladoc Health is on the leading edge of innovation in the healthcare space and could reasonably turn $100,000 into $1 million in 15 years, or less. Image source: Getty Images. Jushi Holdings

Another hypergrowth stock that has the potential to make patient investors millionaires is U.S.-focused marijuana stock Jushi Holdings ( OTC:JUSHF ).

To state the obvious, cannabis remains an illicit substance at the federal level in the U.S., and it’s not clear when that’s going to change. Thankfully, pot doesn’t have to be legalized federally for Jushi and its peers to be successful. Three dozen states have legalized cannabis in some capacity, and the Department of Justice is allowing states to regulate their own industries. Thus, organic growth in already legalized states and new state-level legalizations should provide more than enough opportunity for pot stocks to thrive.

Jushi is itself a small fry, relative to most other publicly traded multistate operators (MSO). Following the closure of the Nature’s Remedy deal in Massachusetts last month, the company now has 23 operating dispensaries, as well as enough licenses in its back pocket to open 13 additional retail locations across a handful of states.

What sets Jushi apart from its peers is its three-state focus : Pennsylvania, Illinois, and Virginia. Aside from these markets offering billion-dollar annual sales potential, what stands out is they’re all limited-license markets. These states purposely limit how many dispensary licenses are issued, as well as cap how many retail licenses a single company can hold. For a […]

source Want $1 Million? Invest $100,000 Into These Stocks and Wait 15 Years (or Less)

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