If you’re looking for strong returns over the next decade, then I think the three ASX shares listed below could be worth considering.
I believe all three ASX shares are well-placed to be market-beaters in the 2020s. Here’s why:
Bubs Australia Ltd (ASX: BUB)
Bubs is an infant formula and baby food company. It has been growing its sales at a rapid rate in recent years thanks to its expanding distribution footprint and increasing demand in Asia. Given how demand continues to grow, particularly in China, I believe there will be more strong sales growth to over the coming years. And with its operations now becoming profitable, I expect its earnings to grow at a rapid rate as it scales.
Freedom Foods Group Ltd (ASX: FNP)
Freedom Foods is a diversified food company with a focus on healthy eating. Its shares have come under significant pressure over the last few trading days after a surprisingly bad trading update. A number of the company’s channels have been struggling during the pandemic and look set to weigh heavily on its full year results. While this is disappointing, I believe the selloff has created a buying opportunity. Especially considering how these headwinds are transient and will soon ease now that restrictions are lifting. In light of this, I feel now could be an opportune time to make a patient buy and hold investment.
Jumbo Interactive (ASX: JIN)
Another share which I believe could grow strongly over the next decade is Jumbo. It is an online lottery ticket seller and the operator of the Oz Lotteries website. This year the company’s financial performance will take a hit because of its investment in growth opportunities. But these investments in its Jumbo software-as-a-service platform certainly appear worthwhile and look set to underpin years of strong growth. Once again, I think this makes Jumbo a great buy and hold option.
Looking for more shares to invest in? Then check out the five recommendations below which have been tipped for big things…
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More reading
- Why the Bubs share price is up 65% in 2 months
- 2 cheap ASX 200 shares to buy right now
- Is the a2 Milk share price too high to buy?
- Top brokers are urging you to buy these ASX shares today
- Why a2 Milk, Freedom Foods, Scentre, & TPG Telecom are dropping lower
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 and recommends Jumbo Interactive Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of BUBS AUST FPO. The Motley Fool Australia has recommended BUBS AUST FPO, Freedom Foods Group Limited, and 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.
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