Investors are buzzing with excitement as two growth stocks, Hims & Hers Health and Toast, continue to soar in the early days of 2024. Both companies have seen impressive gains in their stock prices, making them attractive options for investors looking to capitalize on the current bull market.
Hims & Hers Health, a telehealth company, has seen its stock rise by 58% since the start of the year. The company offers a range of healthcare products and services, including prescriptions, over-the-counter drugs, cosmetics, supplements, and more. With a subscription-based model and a focus on virtual care, Hims & Hers Health has reported strong revenue growth and is on track to surpass $1 billion in revenue in 2024.
Toast, a provider of software and hardware solutions for restaurants, has also seen its stock soar by more than 30% since the beginning of the year. The company offers a variety of products and services to help restaurants run their operations more efficiently, including point-of-sale solutions, digital ordering and delivery applications, and payroll and workforce management tools. Despite not yet being profitable on a GAAP basis, Toast has reported impressive revenue growth and positive free cash flow in 2023.
Both Hims & Hers Health and Toast present exciting opportunities for investors looking to add growth stocks to their portfolios. With strong revenue growth, innovative business models, and a focus on expanding their market reach, these companies are well-positioned to continue their upward trajectory in the coming months. As the bull market continues to deliver new highs, these stocks are certainly ones to watch for investors seeking to capitalize on the current market momentum.
