Got $100? Add these 2 Monster Growth stocks to your portfolio.

Sustained growth is a wonderful thing. It’s the foundation of owning a stock that’s up 10x. That’s why Peter Lynch, the legendary investor who crushed the market with his Fidelity Magellan mutual fund, considers it one of the most important criteria in evaluating stocks. He wants companies that can grow sales and profits at double-digit rates for years to come. Valuation can only get you so far.

Monster farmers are rare. They are even rarer if they can farm consistently for over a decade. Despite short-term volatility and poor performance since going public, US Rocket Laboratory (NASDAQ: RKLB) AND Remitly Global (NASDAQ:RELY) have seen monstrous growth over the past few years. What’s more, you can buy both of these stocks for less than $100 right now.

Here’s why growth investors should consider adding both Remitly and Rocket Lab to their portfolios.

Rocket Lab: Journey to the Moon

Rocket Lab is an ambitious spaceflight company. Apart from SpaceX, it is the only private company that regularly sends commercial payloads into orbit.

Like SpaceX, it wants to become a complete space company. That means providing customers with a way to get to space (rockets), hardware and supplies for spacecraft, and data and software services that help increase customer value.

She’s a long way from fulfilling that dream, but she’s made some fantastic progress so far. The little Electron rocket she’s flying now recently hit 50 launches, and her spacecraft business is growing rapidly.

This is by far the best performance among space economy startups (most competitors went bankrupt). Recently, the number of customer orders exceeded $1 billion.

Revenue is up nearly 500% cumulatively since July 2021, less than five years ago. Revenue was up 71% year over year in the latest quarter. There’s still plenty of room to grow Electron launches, and the company hasn’t even started its data/software services division.

It is also working on a larger rocket, the Neutron, that will generate significantly more revenue per launch than the Electron. That gives Rocket Lab the potential to grow revenue from just over $300 million today to billions this decade.

With a market cap of $3.5 billion and a share price of just $7 at the time of writing, this could be a cheap stock for those looking to hold onto shares for a decade. Ride the wave of Rocket Lab’s growth — this stock has a lot of upside potential.

RKLB revenue data (TTM) according to YCharts; TTM = last 12 months.

Remitly Global: Modern International Money Transfers

Remitly operates in the world of finance and software. The company is a newcomer to the money transfer market, which includes consumer cross-border money transfers. With traditional competitors like Western Union failing to innovate, Remitly saw many ways to improve the customer experience of money transfers and reduce fees.

Its mobile app now has just under 7 million active customers sending money from places like the United States to India. With $13.2 billion in volume sent in the last quarter, management estimates Remitly has a 2.5% share of the money transfer market.

Given its superior value proposition, it is not unreasonable to expect Remitly to continue to gain market share over the next five to ten years.

Revenue growth has been fantastic, rising in tandem with active users and total messages sent. Revenue grew 31% year over year to $306 million in the latest quarter, and recently surpassed $1 billion in the last 12 months. The company’s current market cap is around $2.8 billion, and the stock is trading at just $14. You can buy a share of Remitly and Rocket Lab for just $21 combined.

As Remitly continues to gain market share, revenue will grow at double-digit rates. The company is also now profitable and expects to generate about $100 million in adjusted earnings before interest, taxes, depreciation, and amortization this year. Add it all up and I think Remitly — in addition to Rocket Lab — is a fantastic growth stock to add to your portfolio today.

Is it worth investing $1,000 in Rocket Lab USA right now?

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Brett Schafer has no position in any stocks mentioned. The Motley Fool recommends Rocket Lab USA. The Motley Fool has a disclosure policy.