Uber Technologies
Uber Technologies is the leading ride-hailing company in the United States, with a market share of about three-fourths. Launched in 2010 as a crowd-sourced, pseudo-taxi service, Uber has become a mainstream way for people to get around. Last year, it provided over 9.4 billion rides, generating more than $37 billion in sales. Most importantly, Uber turned a little over $1.1 billion of that revenue into net income.
Market research outfit Technavio expects the worldwide ride-hailing market to grow at an annualized pace of nearly 13% through 2029.
Uber is also expanding into other areas, such as food delivery and same-day retail delivery. Revenue from these businesses accounts for about 30% of Uber's current top line. The IMARC Group believes the same-day logistics market is set to grow by an average of 15% per year through 2032.
Uber's stock price has fallen 16% from its March high, but this is mostly just a cooling off of a very big run-up from October's low. The company's anticipated revenue growth of more than 16% this year and next should turn shares around soon enough.
Alibaba
Alibaba is a Chinese e-commerce company that was once one of the most valuable companies in the world. However, the company has struggled in recent years due to increased competition, a slowing Chinese economy, and regulatory crackdowns. As a result, Alibaba's stock price has fallen 77% from its late-2020 peak.
However, there are signs that Alibaba is starting to turn around. The Chinese economy is slowly improving, and Alibaba is taking steps to cut costs and improve its operations. Analysts believe Alibaba's 2024 top line will improve by nearly 9%.
DraftKings
DraftKings is a sports betting company that has been one of the biggest beneficiaries of the legalization of sports betting in the United States. Since the Supreme Court lifted the federal sports-wagering ban in 2018, 38 states have legalized betting on sports.
DraftKings is one of the most popular sports betting apps in the United States. It has a large and growing customer base, and its revenue is growing rapidly. This year's projected revenue growth of 31% is just a taste of what's likely waiting for DraftKings shareholders.
Straits Research believes the global online sports betting market is poised to grow at an annualized pace of more than 11% through 2032.