Can Invitae Make You A Millionaire?

Good morning!

The stock market, in my opinion, is the best place for the average Joe to create wealth.

Over the last last 50 years, there have been companies whose stock turned early investors into millionaires over time: Comcast, Walmart, Berkshire Hathaway, Home Depot, Microsoft and Amazon are some.

At the time these investments were made, there was no way to know that these companies would go on to make you rich.

This brings me to Invitae (NYSE: NVTA). Today we’re going to explore whether or not this stock can make you a millionaire.

Invitae is one of the fastest growing genomics companies in the world. They are trying to bring comprehensive genetic testing to the masses by lowering the cost. You can order a test through your doctor, and more and more insurance companies are jumping on board.

The reason why is that we are entering the age of individualized and preventative health. It’s far less expensive to prevent disease than to treat it.

Invitae’s growth has been incredible.

On their most recent earnings report, which came out on Wednesday, the volume and revenue for the quarter both doubled compared to the same quarter last year.

ARK Invest is projecting genome sequencing to increase 50 times between 2018 and 2023. That would take the number of genomes sequenced from 1.3 million to 100 million. That would annualize at 82% a year if that materializes!

That kind of growth is crazy; it would propel Invitae to a much higher valuation than the $1.4 billion it sits at now.

Disclaimer/Disclosure Statement: Information in this article is not intended to be a recommendation to invest in any stock.  Rather, it is presented for readers’ education and consideration when making their own investment decisions.  The author is long NVTA.

My book, The Stock Market is For Everyone, is a short guide for the beginning, inexperienced investor that is easy to understand and can be put into action immediately.

Click the image of the book at left to be taken to its Amazon page.  (Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)

 

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