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Investors looking to grow their wealth through the stock market can consider three specific companies: Amazon (NASDAQ: AMZN), MercadoLibre (NASDAQ: MELI), and Axon Enterprise (NASDAQ: AXON). Amazon leads both the e-commerce and cloud computing sectors, with its AWS cloud segment experiencing a 17% year-over-year sales increase. Currently, Amazon’s stock is at a discount, trading at 35 times its trailing 12-month sales.
MercadoLibre, the leading e-commerce platform in Latin America, has seen its stock grow over 8,000% since its IPO, boasting a market cap of $121 billion. The company’s first-quarter revenue rose 37% to $5.9 billion. With e-commerce penetration still low in the region, there’s potential for continued growth.
Axon Enterprise has had a stock price increase of 712% over the past five years, with a market cap of $60 billion. Its TASER revenue grew 19% year-over-year last quarter, and revenue from software and services increased by 39%, improving margins significantly. The addressable market for Axon is expanding, fueled by its cloud-based services.
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