2020 will go down in history as the year of the COVID-19 pandemic. For investors, 2020 has also been the year of growth stocks. Investor favorites like Tesla, Zoom, The Trade Desk, Square, Fastly, Zscaler, and Virgin Galactic have all crushed the market despite earning little to no profits. Most of these companies are actually losing money, but it’s their potential for future gains that’s led investors to continue bidding up their share prices.
In this vein, last week’s IPO of Airbnb was a hot one. The stock more than doubled in its market debut. Despite ongoing losses, it’s an industry leader with a bright future. Airbnb could be worth the investment, but don’t forget about a solar stock that had its IPO in October: Array Technologies (NASDAQ: ARRY). Here’s why it could be a better buy now.