Company / Analytics

Analytics, 24 March 2023

2 Stocks To Consider For Your Portfolio

Stocks in the U.S. market have had a mixed trading week as investors weighed a positive quarterly earnings report from GameStop against disappointing results from Petco Health and Wellness. Shares of Luminar Technologies were also under pressure after being downgraded by Goldman Sachs, while Boeing took a hit after announcing additional charges to its KC-46 tanker program.

For Investors on the lookout for stocks that can provide long-term returns, there are two such stocks currently in the spotlight; Goeasy and GameStop. Despite being around since 1990, Goeasy has seen impressive growth in the last decade, with an estimated annual growth rate of 32.37%. While the stock has experienced a dip in the past year, it has since rebounded and could be an excellent long-term investment.

On the other hand, GameStop has been revitalized by a leadership shake-up and is focusing on cost-cutting measures and higher margin categories like collectibles. The company is also experimenting with an NFT marketplace. Despite ups and downs, the stock has generally been on the rise in the past several years, making it a viable long-term investment.

In this article, we analyze the two stocks as options to add to your portfolio.

GoEasy Stock

It’s not often we come across current growth stocks that are actually long-term buys. Those we can buy and hold and rest easy knowing that even if they drop in the future, we’ll still have our investments well in hand.

Goeasy stock is a strong investment for those wanting tech stock that’s due for growth in the years to come. This comes from Goeasy stock being a part of the loans market. In fact, even with interest rates up, the company continued to produce not just solid earnings but record earnings reports.

That’s pretty unbelievable when you consider that Goeasy stock has been around since 1990. In the last decade alone, Goeasy stock has climbed an incredible 1,547%! That comes to a compound annual growth rate (CAGR) of 32.37%.

Granted, this has slowed during the current downturn. Shares are down 19.95% in the last year. However, since the beginning of 2023, those shares have climbed back up by 2.71%. So, it could be an excellent time to grab Goeasy stock on the rebound and see it keep on climbing.

GoEasy Stock price

The stock was trading at 108.79 dollars as of the time of writing after a rough week where it dropped by -0.69%. The stock has however been on the rise and never hits a low below its 2012 lows. The stock was struggling to keep level before then but since 2013 it has been on a steady rise according to google’s stock graph.

GameStop stock

GameStop, the video game retailer, posted a quarterly profit of $48.2 million, or 16 cents a share, for Q4 2022. Net sales dropped slightly to $2.23 billion while selling, general, and administrative expenses were reduced to $453.4 million, compared to $538.9 million in the previous year. CEO Matt Furlong said the company would continue cutting excess costs in European markets, where it has already exited some countries, and is considering increasing revenue by offering higher-margin categories such as toys. The retailer’s real estate portfolio is also being revamped to enhance its online business.

GameStop’s leadership shake-up last year, which saw Matt Furlong and Ryan Cohen appointed, has revitalized the company’s turnaround plan. Despite supply chain delays, the company saw increased revenues from its collectibles category, which it hopes will promote long-term growth. It has been trying to improve its cash balance, and its cash and cash equivalents were $1.39 billion. The company has also been experimenting with an NFT marketplace since July, and although it saw an initial volume surge, it may not be the solution to the company’s digital identity.

GameStop stock price

The stock’s lowest points were in 2005 and 2020 after Covid19 hit. Other than these points its graph has been stable and on a steady rise. It was trading at 23.87 dollars as of the time of writing. The stock started 2021 trading at 4.71 dollars and despite the ups and downs in between it has generally been on the rise. This makes it a long-term investment mostly advisable for a retirement portfolio.

Investor’s Note

Goeasy is a robust investment choice for those seeking a tech stock that is poised for growth in the coming years. Despite rising interest rates, the company has consistently produced solid earnings and record earnings reports. Goeasy stock, being a part of the loans market has helped the stock grow in the past and boosts investor confidence in its future.

GameStop has reinvigorated its turnaround strategy, and with a leadership shake-up last year, the company is implementing measures to reduce excess costs and increase revenue by offering higher-margin categories like toys.

As an investor, these two stocks could be what you need to diversify your portfolio and also earn good returns from your investment. It is however important to do further research as every investment bears a risk.

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