Stock prices have been falling, making this an interesting time to buy quality stocks at potentially attractive price points. You don't need a lot of money to take advantage of the compelling prices, and even $1,000 can turn into a lot if you buy the right stocks at the right time.
fuboTV (NYSE: FUBO), Latch (NASDAQ: LTCH), and Matterport (NASDAQ: MTTR) are three promising stocks trading well below last year's all-time highs. Let's see why any of them -- or even all of them -- would be a smart investment to consider with the next $1,000 that you're ready to put to work in the market.
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fuboTV
One of the latest members of the Single Digit Club is fuboTV. The "sports first" live TV streaming service buckled below the $10 mark for the first time on Tuesday and fell a bit lower on Wednesday. We're cutting the cord, but streaming services alone can't match the experience of linear TV. Live TV streaming services are stepping up to fill the void, and none of them are growing faster than fuboTV right now.
Earlier this month, fuboTV announced that it had closed out 2021 with more than 1.1 million users, having doubled its audience since the beginning of the year. You would expect live TV to be a high-turnover business, especially for a company that offers about three dozen sports channels among the more than 100 regular cable networks, but churn has improved at fuboTV for 13 consecutive quarters.
There's a lot of money to be made here. Average revenue per user has climbed 10% over the past year to $74.54 a month. The premiums paid by subscribers make up the lion's share of that take, but ad revenue is also a juicy $8.27-a-month chunk of that revenue. There are some near-term challenges, but fuboTV spent 2021 boosting its guidance at every turn. It's playing to win as a speedster among streaming service stocks.
Latch
Some of the best growth ideas come from stodgy industries ripe for disruption. Latch is reinventing the way apartment buildings provide access to renters and prospective renters. LatchOS is a cloud-based platform that provides keyless access to an apartment's front door. It may seem simple in theory, but the ability to let verified users open apartments from an app opens up a world of possibilities.
If you need to let a guest, delivery person, or cleaning or repair person in, it's easy to do now without being home or having to leave a key under the mat. Other premium features incorporated into the platform include intercom systems and smart-home hubs that can also be put to work remotely.
Landlords love Latch even more. They can now show available vacancies to new renters without having to be there. There's no need for keying and rekeying when someone moves out. Perhaps more importantly, apartments charge a premium for this high-tech feature, so it more than pays for itself.
Latch is growing quickly. Revenue soared 120% in its latest quarter, and total bookings are growing even faster. As small as Latch is right now -- with $34 million in trailing revenue and an enterprise value of just above $400 million -- it's going to get a lot bigger soon. Roughly 10% of all new apartment buildings currently in construction in this country are being built with LatchOS in their premium designs. Like most special purpose acquisition companies, Latch has fallen out of favor. It's a door waiting to be opened by you.
Matterport
The reason I called fuboTV one of the latest Single Digit Club members is that Matterport broke below the $10 floor for the first time in more than a year on Wednesday. Matterport is a spatial data platform, producing a dimensionally accurate and photorealistic digital rendering of any physical space.
A year ago Matterport was buzzing because of the way it helped old-school industries. The ability to capture a home's interior and render it as essentially a dollhouse gave tech-savvy realtors a marketing advantage. Insurance companies and vacation home rental specialists also hopped on the platform. Today it's a potential leader of the metaverse revolution, as virtual worlds need next-gen rendering to stand out.
Matterport's popularity is booming. Subscribers have soared 116% to 439,000 over the past year. It's a cash-rich company that like Latch has a much lower enterprise value than its current market cap. We're early here, but opportunity knocks in a funny way in the world of spatial data platforms. Welcome to the future...at a discount.
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Rick Munarriz owns Latch, Inc. and fuboTV, Inc. The Motley Fool owns and recommends Latch, Inc., Matterport, Inc., and fuboTV, Inc. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
