If you have $3,000 to invest into the share market, then I think it could be worth splitting these funds evenly across the three ASX shares listed below.
Here’s why I think they would be great options right now:
Aristocrat Leisure Limited (ASX: ALL)
The first option to consider investing some of these funds into is Aristocrat Leisure. It is one of the world’s leading gaming technology companies with a portfolio of world class poker machine and digital games. While the closure of casinos during the pandemic has been a blow, this short term headwind appears to be easing now restrictions are lifting. In the meantime, the lockdowns that have closed casinos have given its digital business a major boost. Overall, I believe Aristocrat Leisure is well-positioned to bounce back very strongly in FY 2021 and then accelerate its growth thereafter.
CSL Limited (ASX: CSL)
This biotherapeutics giant’s shares are more often than not trading within sight of their 52-week high. However, due to its recent share price weakness, the company’s shares are currently trading over 17% lower than their high. I believe this is a rare opportunity to buy this high quality company’s shares at a discount. Which, given its strong long term growth potential, could make this a very smart move for investors.
Pushpay Holdings Group Ltd (ASX: PPH)
A final option to consider investing these funds into is Pushpay. I believe the donor management platform provider is one of the best growth shares on the Australian share market. This is thanks to its increasingly popular software and the sizeable opportunity it has in the medium to large church market. Pushpay recently revealed that it is aiming to win a 50% share of this market over the long term. This represents a US$1 billion revenue opportunity for the company, which is many multiples its current revenue.
And if you have some funds leftover, these five recommendations below look like potential market beaters…
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As of 2/6/2020
More reading
- Why I’m not afraid to invest in shares during this recession
- Top brokers name 3 ASX 200 shares to buy right now
- The smartest ASX 200 shares to buy with $2,500 today
- Afterpay and these top ASX tech shares are on fire in 2020
- Where should you invest $1,000 in ASX shares?
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended PUSHPAY FPO NZX. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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