This small-cap stock has what it takes to be a huge winner
Keith Noonan (Impinj): Shiba Inu’s performance this year has been nothing short of incredible, and it’s not out of the question that the cryptocurrency will bounce back from recent sell-offs and go on to reach new highs. However, even investors with very high risk tolerance can benefit from pursuing other attractive options, and Impinj is a company that I think will deliver big wins for long-term shareholders.
Impinj is a maker of radio-frequency-identification (RFID) tags, sensors, and software. If an object is outfitted with an RFID tag and is in within range of a scanner, a user could pull up a map that shows exactly where that object is located. RFID chips can also store and transmit data, and this data can be updated. It’s kind of like the barcode system on steroids.
Impinj’s solutions have already been adopted for applications including tracking airline baggage and by retailers including Nike, Zara, and Macy’s, but there is an incredible number of other potential use cases for the company’s technologies. As factory and manufacturing processes become increasingly automated, I think RFID technologies stand to see exploding adoption. Healthcare and hospital services is another category that could drive big growth. If you’re looking for innovative companies tapping into young growth markets, Impinj checks those boxes.
