As the next round of stimulus checks starts to roll out, many Americans are excited to pay off their debts and boost their savings. However, many of the recipients of these checks aren’t necessarily in dire economic situations, which means they will have a little more disposable income than usual. While some might be tempted to spend that money on consumer products or a vacation, perhaps one of the smartest things to do is invest in strong companies and put that money to work.
It’s not often that the government mails out checks to millions of people across the country, so make sure you take full advantage of the opportunity and explore some new investment opportunities that can pay off over the long run. Below, we’ve put together a list of 3 stocks to consider buying with your $600 stimulus check. Each one of these stocks currently trades at under $100 per share and has something different to offer. Keep reading below if you are interested in using the extra money to boost your investment accounts.
Chegg (NYSE:CHGG)
First up on our list is a growth stock that is changing the way that students learn. Chegg offers a direct-to-student learning platform that helps young minds of all ages to perform their best in the classroom with interactive lessons, live tutoring, and more. The company started with renting and selling textbooks to students but has since focused on developing its e-learning platform. That seems to be paying off, as Chegg expects to see total net revenue for FY 2020 come in between $626-628 million, which would represent a year-over-year increase of over 50%.
With many students and teachers forced to adapt to remote learning last year thanks to the pandemic, the company experienced huge subscriber growth. In Q3 Chegg reported a 69% year-over-year growth in subscribers which has helped the company improve its cash flows substantially. The chances are good that Chegg’s growth is only just getting started, as there is a potential market of 102 million students across the U.S. and other countries. Consider adding shares of this growth name with your stimulus check if you are interested in a company that could potentially transform the education industry, which has been due for an overhaul for quite some time.
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