Identifying growth opportunities is essential for successful stock trading. For that you need past data, to look back at how stocks have performed in the past years.

There are some stocks that have the distinction of having grown from returning $3,000 to $17,000 to investors in a space of just five years, as observed by Motley Fool analyst Rich Duprey. These stocks have managed to beat the broader S&P 500 index that itself has returned around 87% in the past five years. The total returns of these stocks were higher by hundreds of percent. Duprey points out that even the smallest of these stocks has a market worth exceeding $1 billion.

Axon's Amazing Growth

Arguably the most spectacular growth story of these is that of Axon Enterprise ($AAXN). This company was called TASER International 5 years back. Its primary product was stun guns, but it had also entered the market for evidence database management and body cameras. Taser stun guns made up more than 92% of the yearly sales that year. The company was doing great, but there was nothing spectacular about it. There was a big growth potential, however, for the body camera market.

That potential has been realized now, and body cameras and evidence management make up nearly a third of the company's top line. It is also the revenue stream with the fastest growth for the company, at the rate of 66% last year. Its conventional electrical weapon segment grew only by 16%. TASER changed its name to Axon, in line with its changing priorities.

Spectacular Growth Pace Continues in 2018

The company is continuing in its strong pace. In 2018, sales in its software and sensor segment - the segment which the body cams and the evidence management products belong to - rose 58% during the first six months, as against the previous year. In the second quarter, the sales pace soared 72% higher. Sales from the Taser devices only rose 12% in 2018 first half and 14% in the Q2 period.

With the sales of these new products, Axon Enterprise has been able to post 473% total returns during that period which would equate to transforming a $3000 investment to something more than $17,000 in a period of five years.

Now that's something you need to cast your attention on. Expert opinions are important for helping you see stocks that have immense potential but are easily overlooked. In online stock trading, advanced trading software can help you get a clear picture of the markets and potentially groundbreaking stocks. TradeZero offers you free trading software to help you trade successfully.

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