10 Best Extremely Profitable Stocks to Buy Now

7. Futu Holdings Limited (NASDAQ:FUTU)

5 Year Revenue Growth: 62.46%

5 Year Net Income Growth: 94.49%

TTM Net Income: $548.6 Million

Number of Hedge Fund Holders: 29 

Futu Holdings Limited (NASDAQ:FUTU) is a tech-driven online brokerage and wealth management platform based in Hong Kong. The company offers a platform called Futu NiuNiu, where users can buy and sell various financial products like stocks, options, and exchange-traded funds (ETFs) online.

The brokerage serves customers in key countries including the US, China, Hong Kong, Singapore, Australia, Japan, and more. It is one of the best extremely profitable stocks to buy now. Not only has Futu Holdings Limited (NASDAQ:FUTU) grown its top line and bottom line by 62% and 94% over the past 5 years, respectively, but its trailing twelve-month net income stands at $548.6 million.

As the overall economic conditions around the world are easing with Federal Reserves cutting interest rates, brokerage firms like Futu Holdings Limited (NASDAQ:FUTU) are rallying. The stock price of the company rallied more than 72% for two weeks from the day China Stimulus was announced.

While short-term price movements are encouraging, what’s more impressive is its third-quarter results for fiscal 2024. The company reported that its number of paying clients rose by 33.1% year-over-year, to reach 2.2 million. Whereas, its registered clients increased by 22.8% to reach 4.3 million. As a result, its total client assets surged by 48.1% to approximately HK$693.4 billion ($89 billion), with daily average client assets at HK$593.2 billion ($76.27 billion), up 23.4% from the previous year.

Futu’s CEO, Leaf Hua Li, noted that the company experienced robust growth in established markets like Hong Kong and Singapore, while Malaysia remained the top contributor to new paying clients. He emphasized the effectiveness of their marketing strategies and product offerings in attracting clients.