Market Overview - The S&P 500 index reached a high of 5,670 in July but has shown volatility with a downward trend recently due to geopolitical tensions and sluggish GDP growth [1] - The U.S. Federal Reserve is expected to implement expansionary policies before the end of 2024, potentially leading to multiple rate cuts next year, which will support GDP growth [2] Li Auto (LI) - Li Auto's stock has corrected by 48% year-to-date, driven by negative sentiment in the EV industry and bearish views on Chinese stocks, but is considered undervalued with a forward P/E of 16.7 [4] - The company reported a cash buffer of $13.7 billion as of Q1 2024, allowing for investment in innovation and expansion [5] - Li Auto achieved a vehicle margin of 19.3% and reported a 25.5% year-on-year growth in vehicle deliveries for Q2 2024, indicating potential for a rally from oversold levels [6] Miniso Group (MNSO) - Miniso's stock has declined by 22% year-to-date, but is viewed as a buy with a forward P/E of 12.7 and a dividend yield of 2.6% [8] - The company reported a revenue growth of 26% for Q1 2024, reaching $515.7 million, with an adjusted EBITDA margin increase of 200 basis points to 25.9% [9] - Miniso plans to open 900 to 1,100 new stores annually from 2024 to 2028, expecting revenue growth at a CAGR of over 20% during this period [10] Marathon Digital (MARA) - Marathon Digital's stock is considered undervalued with a strong growth outlook, reporting a 78% year-on-year revenue growth to $145.1 million for Q2 2024 [12] - The company has an energized hash rate of 31.5 EH/s, which increased by 78% year-on-year, and expects to reach a capacity of 50 EH/s by year-end [13] - Marathon reported a liquidity buffer of $1.4 billion as of Q2 2024, providing flexibility for aggressive investments [13] IAMGOLD (IAG) - IAMGOLD's stock has surged by 110% in the last 12 months, with a forward P/E of 11, indicating attractive valuations [16] - The company is expected to benefit from higher gold prices, with gold trading at $2,460 an ounce and potential to reach $3,000 in the next 6 to 18 months [15] - IAMGOLD commenced production at the Côté Gold assets, with expectations for revenue and cash flow growth [16] Tempus AI (TEM) - Tempus AI is a new player in healthcare technology, reporting a 25% year-on-year revenue growth to $166 million for Q2 2024, with data licensing revenue increasing by 40% [19] - The company has expanded its immune-oncology portfolio and received approval for its next-generation sequencing analysis, positioning it for future growth [20] PACS Group (PACS) - PACS Group reported a 31% year-on-year revenue growth to $1.9 billion for the first half of 2024, with increased revenue and adjusted EBITDA guidance [22] - The company added 167 skilled nursing beds in Q2, and its mature facilities have an occupancy rate of 94.2%, supporting robust revenue growth [23] Cronos (CRON) - Cronos reported a 46% year-on-year revenue growth to $27.8 million for Q2 2024, supported by new market expansions [25] - The company has a cash buffer of $848 million, providing flexibility for growth initiatives [24] - Cronos is expected to achieve EBITDA break-even by 2025, indicating potential for significant stock appreciation [26]
7 Growth Stocks to Buy on Corrections for 3X Returns by 2026