$15,000 to invest? I would buy these hot growth shares

With the Domino's Pizza Enterprises Ltd. (ASX:DMP) share price well off its highs, I think it is one of three growth shares investors should consider investing in today. Here's why…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Last week the Reserve Bank of Australia held the cash rate at the record low of 1.5%. With rates at these low levels, I think investors are better off skipping high interest savings accounts and investing in the share market.

Here's where I would invest $15,000 today:

The Domino's Pizza Enterprises Ltd. (ASX: DMP) share price is currently around 30% lower than its 52-week high. I think this is a rare opportunity for investors to grab a slice of this explosive company at a reasonable price. Whilst there have been concerns over the underpayment of wages by franchisees, I think the issue has been overblown. With the company still growing strongly at home and overseas, I think Domino's is a great buy and hold option.

The Noni B Limited (ASX: NBL) share price may be up 51% in the last 12 months, but I don't think it is too late to snap up this retailer's shares. As well as the Noni B brand, the company recently bolstered its retail presence with the acquisition of Pretty Girl. Not only did this strengthen its offering in the lucrative middle-aged woman market, but the acquisition helped Noni B deliver a 142% jump in half-year revenue to $143 million and a 149% increase in underlying pre-tax profit to $10.1 million. This good form means the company will be included in the ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) from March 20.

The TPG Telecom Ltd (ASX: TPM) share price has fallen an incredible 45% in the last six months. This has left its shares changing hands at just over 16x trailing earnings, which I think makes the telco giant a bargain buy. Whilst NBN margins may not be as generous as expected, TPG Telecom certainly has other opportunities which could offset this. The roll out of its own fibre service in certain areas and the expansion of its mobile service could all provide the company with a long runway for growth.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »