One side of the Australian share market which I think is a great place to look for investment ideas is the mid cap space.
I’m a big fan of mid cap shares as they offer stronger potential returns than large caps, but arguably carry less risk than small caps.
With that in mind, here are two mid cap ASX shares that I think are worth watching closely:
Jumbo Interactive (ASX: JIN)
Jumbo is an online lottery ticket seller and best-known as the operator of the Oz Lotteries website. The majority of the company’s revenue is currently coming from the Oz Lotteries business, which is benefiting from the shift to online gambling. However, this won’t be the case over the long term thanks to its Powered by Jumbo software-as-a-service (SaaS) business. The company is taking its Powered by Jumbo business global with the aim of capturing a slice of a US$303 billion total addressable market. It is worth noting that only 7% of this market is estimated to be online at present. I believe this gives it a significant runway for growth over the next decade as more gambling shifts online.
Opthea Ltd (ASX: OPT)
Opthea is a leading developer of novel biologic therapies for the treatment of eye diseases. I think it is well worth considering due to its very promising OPT-302 combination therapy. This therapy is targeting wet age-related macular degeneration and achieved very positive Phase 2b study results last year. The current standard of care treatments for wet age-related macular degeneration had sales of over US$3.7 billion in 2018. This gives it a sizeable market opportunity. In addition to this, the company is targeting diabetic macular edema (DME), which had sales of over US$6.2 billion in 2018. Though, recent results for DME haven’t been as positive.
These stocks could rocket in a Post-COVID world (FREE STOCK REPORT)
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
Find out the names of our 3 Post COVID Stocks – For FREE!
*Returns as of 6/8/2020
More reading
- Why the Jumbo (ASX:JIN) share price is moving higher today
- 3 stellar mid cap ASX tech shares to buy for the long term
- Why Jumbo, New Hope, Northern Star, & Qantas shares are dropping lower
- Jumbo (ASX:JIN) share price on watch after Tabcorp (ASX:TAH) sells its stake
- 5 things to watch on the ASX 200 on Tuesday
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Jumbo Interactive Limited. 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.
The post 2 exciting ASX mid cap ASX growth shares to buy for the long term appeared first on Motley Fool Australia.
from Motley Fool Australia https://ift.tt/2EII0Zk
Leave a Reply