The following 4 ASX stocks are all of the companies that have seen significant growth this year. One of them might turn out to be the next afterpay, but it might be too early for others to say so.
Criteria for the next additional payment
I believe Afterpay tied a few criteria that allowed it to become such an explosive ASX stock.
First and foremost, it is a pioneer in a new trading field. In particular, it disrupts the credit card model and modernizes the lay model. Second, it fulfills a burning need. In this case, there is a need for a lack of available cash, a problem that I believe is related to growing inequality. Third, it is a mass-produced item for repeat masses.
Finally, and most interesting for me, is the strength and style of management. The Afterpay company’s founders are currently waging a lightning war around the world to become leaders in key markets like the UK, US and Europe. With that in mind, here are 4 ASX stocks that I’ve investigated as possibly the next back payment.
Harvest Technology Group Ltd (ASX: HTG)
This company has developed a number of products that enable secure communication for enriched data in real time and that require significantly less bandwidth. The technology is industry-independent and can be adapted for remote workers as well as sensors, video feeds and many other applications. Under the company’s new chairmanship, this marked the first time it had annual sales of more than $ 10 million.
Since March 23, Harvest Technology’s stock is up 275%. I think the company definitely has a need and has uncompromising, experienced management. However, I still don’t think it’s exactly the next back payment.
Vection Technologies Ltd (ASX: VR1)
With FrameS, this company has developed a technology with which people can deal with three-dimensional models in virtual reality. It uses previously created models from software such as CAD or others and offers a complete experience for up to six remote users. Applications include interior design, industrial project design review, remote product display, and even training.
Since March 23, Vection shares have risen 750%. This company also fulfills a need and seems to me to be a front runner as another possible additional payment.
Brainchip Holdings Ltd (ASX: BRN)
Brainchip is one of my favorite companies at ASX right now. The company has developed a range of artificial intelligence technologies as well as a unique technology called Akida System on Chip. The company is currently in the prototyping stage and expects to lease its technology within the next six months and produce 21 of its own chips by the end of the fiscal year.
Since March 23, the price of the Brainchip share has risen by 837.5%. I believe this company not only fulfills a need, it creates one. The more companies know what the technology can do, the larger the applications become. I think the management team is competent and very motivated to develop this product for the future.
However, there is still no mass consumer demand. Still, there are a number of uses such as games that could change this.
MyFiziq Ltd (ASX: MYQ)
This ASX stock was one of the great success stories of the year. The price of the MyFiziq share has increased by 1,568.75% since March 23. An investment here at the lowest point of the market would have brought far more than an investment in Afterpay at the same time.
The company has developed a technology that accurately measures body size based on photos. By integrating it into partner apps, it is already revolutionizing the online shopping of clothing by helping to eliminate or reduce the frequency of returns. Further applications include the evaluation of diet and training results as well as calculations of the body fat percentage.
While I believe all of those small caps are worth growth shares, I feel that MyFiziq has the highest potential to become the next Afterpay. This is primarily due to current demand and the potential for repeated mass consumer use.
That tiny ASX stock could be the next back payment
A little-known Australian IPO has doubled since January, and renowned Australian moonshot stock picker Anirban Mahanti sees a potential millionaire waiting …
With ‘Doc’ Mahanti believing this fast growing company has all the hallmarks of real moonshot potential, forget ‘buy now, pay later’, this stock could be the next hot stock on the ASX.
Doc and his team released a detailed report on this tiny ASX stock. Find out how to get your NEXT Afterpay today!
See how you can find out the name of this stock
Returns from October 6, 2020
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