If you have $2,500 sitting in a savings account, I think now could be a good time to consider investing it into the share market.
This is because the share market has pulled back considerably over the last two and a half months and has left a large number of shares trading at very attractive prices.
But which shares should you buy? Here are three shares that I would invest $2,500 into:
Jumbo Interactive (ASX: JIN)
The Jumbo Interactive share price is down 55% from its 52-week high. I think this is a buying opportunity for investors and believe the online lottery ticket seller's shares are well-placed to deliver strong returns for investors over the next decade. This is due to its short term target of growing its ticket sales to $1 billion through the Jumbo platform by 2022. This will be triple what it achieved in FY 2019. If it delivers on this then I suspect its shares will be trading materially higher in two years.
Nearmap Ltd (ASX: NEA)
The Nearmap share price has come under pressure in 2020 and is down 60% from its 52-week high. I think this leaves the aerial imagery technology and location data company's shares trading at a very attractive price given its positive long term growth potential. In FY 2020 the company expects to report annualised contract value (ACV) in the range of $102 million to $110 million. While this is a large number, it is still only around ~1% of the global aerial imagery market which is estimated to be worth US$10.1 billion. Due to the quality of its products, I expect it to grow its market share considerably over the next decade and drive strong profit growth.
Zip Co Ltd (ASX: Z1P)
The Zip Co share price is shooting higher today but is still down 44% from its 52-week high. I think this could be a real gift for investors that are willing to make a long term investment in the buy now pay later provider's shares. Especially after the release of an update today which shows that demand for its platform remains incredibly strong despite the pandemic. During April Zip Co's monthly revenue increased 81% on the prior corresponding period to $15.1 million. The company also reported an 86% lift in monthly transaction volume to $181.6 million and net bad debts of just 1.99%. Looking ahead, I believe it still has a long runway for growth in the future thanks to new verticals, its international expansion, and the growing popularity of the payment method with consumers.
