Jim Cramer likes these 3 ‘junior’ growth stocks you’ve probably never considered — grab them before they become the next mega-cap stars
The market continues to have an insatiable appetite for growth stocks. For example, data from investment firm Wilshire shows that growth stocks have nearly doubled the performance of value stocks over the past five years.
And while some growth-oriented high-fliers have pulled back recently amid omicron fears, CNBC’s Jim Cramer continues to dig the group as a whole.
Earlier this week, the Mad Money host highlighted some of his favorite stocks from the new CNBC Next Generation 50 Index
His top pick is ecommerce gorilla Amazon due to the massive upside of its cloud computing segment.
He likes Apple, too, because of the company’s brand strength among millennials.
Moreover, Cramer pointed out how the electrification of transportation would continue to drive Tesla forward.
But Cramer also highlighted a few smaller ‘junior’ growth stocks worth considering. Here’s a quick look at three of them — one could be worth pouncing on with some of your extra cash.
Enphase Energy (ENPH)
Renewable energy has been one of the market’s favorite investment themes in recent years. As a result, companies like Enphase have delivered outsized returns.
Enphase is one of the world’s leading suppliers of solar energy storage systems. At the beginning of 2020, the company’s shares were trading at around $29 per share. Today, they’re at $215.
That’s a gain of over 640%.
Cramer still sees plenty of upside ahead. In fact, he believes Enphase is the only player in the solar panel space worth owning for the long term.
In Q3, Enphase generated $351.5 million of revenue, nearly double the $178.5 million earned a year ago and marked a new record.
For Q4, management expects revenue to be in the range of $390 million to $410 million.
Enphase shares trade in the triple-digits. But you can get a piece of the company using a popular stock trading app that allows you to buy fractions of shares with as much money as you are willing to…