5 Non-Cannabis Stocks That Doubled in 2017

Ballard Power Systems Inc. (TSX:BLDP)(NASDAQ:BLDP) and these four other stocks all saw their share prices double in 2017 and could still be great buys today.

| More on:
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

Looking for stocks that did well in 2017 is as simple as looking at how the big pot stocks performed. Canopy Growth Corp. (TSX:WEED) and Aurora Cannabis Inc. (TSX:ACB) are just two big players in the industry that saw their share prices triple in value.

However, investing in cannabis presents a lot of risk, and high valuations could minimize the potential upside that remains for investors that buy today. For that reason, I’ve outlined five non-cannabis stocks below that have seen their values double in 2017 and that could be great buys for investors that do not want to invest in pot.

Shopify Inc. (TSX:SHOP)(NYSE:SHOP) saw its share price rise 120% in 2017, and that could have been even more if not for a controversial report released in October that questioned the company’s business model. The scathing criticism would eventually knock the stock off its pedestal, leaving it stuck in a range for the remainder of the year.

In its most recent quarter, Shopify’s sales grew 72%, and if it can build on that momentum, then it’s share price in 2018 will only continue to rise.

Lithium Americas Corp. (TSX:LAC) had an even stronger performance than Shopify last year, with its share price rising as much as 180%. Although the company only had a little more than $1 million in sales in its latest quarter, the potential that the stock presents is what has investors excited.

Lithium-ion batteries are used in many everyday electronics, including laptops and cell phones, and that’s what makes lithium stocks particularly appealing. The company has multiple projects on the go, and once it is in production, that’s when the stock will likely skyrocket even further.

Westport Fuel Systems Inc. (TSX:WPRT)(NASDAQ:WPRT) is a green stock that focuses on clean-burning fuel systems, as the company hopes to make energy not only cleaner, but more sustainable.

The share price tripled in 2017, despite the company struggling to stay out of the red. Investors are drawn to the company’s mission and see the value in Westport as a great long-term buy.

Ballard Power Systems Inc. (TSX:BLDP)(NASDAQ:BLDP) is another company that is behind the green-energy movement, and it got a big boost when it announced that its fuel cell engines would be used in France’s hydrogen-tram buses. Ballard’s stock rose more than 140% in the past year, and in five years it has grown a whopping 800%.

It’s no coincidence that in this list we see two companies that are looking at long-term viability of our world and that are trying to develop sustainable sources of energy for our day-to-day needs. As people become more concerned with the environment, these are the types of stocks that will continue to rise in popularity.

Theratechnologies Inc. (TSX:TH) is a pharmaceutical company that aims to create products that will improve the lives of HIV patients. Unfortunately, due to the prevalence of the disease and how widespread it is, this gives the company a lot of potential for growth.

In just two years, sales for Theratechnologies have grown more than 450%, although profits have still hovered around breakeven levels.

In 2017, the stock’s price rose over 160%, and in five years it is up more than 2,100%.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor David Jagielski has no position in any of the stocks mentioned. Tom Gardner owns shares of Shopify. The Motley Fool owns shares of Shopify and SHOPIFY INC. Shopify is a recommendation of Stock Advisor Canada.

More on Investing

edit Sale sign, value, discount
Investing

3 Cheap TSX Stocks to Buy Before July

Canadian markets have bounced back, but investors can still snag undervalued TSX stocks like Finning International Inc. (TSX:FTT).

Read more »

thinking
Investing

Is Blackline (TSX:BLN) Stock Worth Your Attention in 2022?

Blackline Safety Corp. (TSX:BLN) stock has struggled in the year-over-year period, but there are some positives to glean from its…

Read more »

stock analysis
Investing

Why I’m Buying the Dip in Andlauer (TSX:AND) Stock

Andlauer Healthcare Group Inc. (TSX:AND) stock offered exposure to two promising spaces while offering solid value in late June.

Read more »

clock time
Tech Stocks

Now’s the Time to Load Up the TFSA With These 2 Top TSX Stocks

Here are two top TSX stocks that long-term growth investors may not want to give up on, especially at these…

Read more »

data analyze research
Energy Stocks

TSX Stock Picks With Huge Potential

If you want a TSX stock that's bound for even more strong growth, these three are top picks by analysts.

Read more »

growing plant shoots on stacked coins
Investing

Market Plunge: Double Your Cash With 3 Bargain Stocks

These TSX stocks have corrected over 50%, despite their strong fundamentals, and could easily double from here.

Read more »

oil and natural gas
Energy Stocks

Can Cenovus Stock Outperform in H2 2022?

Is now the time for investors in Cenovus (TSX:CVE)(NYSE:CVE) stock to buy more, or wait out this volatility right now?

Read more »

cup of cappuccino with a sad face
Investing

The Biggest Regret a TSX Investor Can Have

Hydro One (TSX:H) is a top bond proxy to own if you're a TSX investor who's worried about a pick-up…

Read more »