Even though the purpose of investing is for your investment to grow/make money, some stocks set out to do this faster than others 🤑⚡

More specifically, growth stocks are companies that are expected to grow at a higher rate than the average market growth rate 📈

These companies are often in their early stages of development and have a unique competitive advantage, such as a new product or innovative technology 🔬

Investing in growth stocks can potentially lead to high returns, as the value of the company and its stock price may increase rapidly. 💰

However, growth stocks are also considered higher risk investments as they may not have an established track record of success and can be more volatile. 💥

Additionally, the potential for high returns also means that growth stocks can experience significant losses if the company does not meet growth expectations. 📉

Because these companies heavily invest their capital in growth, they often do not have reliable profits 👀

So, they often don't pay dividends to shareholders, and the only way to make money on them is for the share price to grow

Some examples of growth stocks in 2024 include Affirm, Shopify and Snowflake