Millionaire-maker stocks are hard to come by. We’re not talking about 10% annual returns. Instead, these stocks have the potential to grow your portfolio several times over, sometimes in a matter of months. If you want to turn thousands into millions, these are must-own investments.
The problem, however, is that millionaire-maker stocks almost never go on sale. In reality, they’re usually quite expensive. All too often, that means its millionaire-maker days are behind it. If you ever get a chance to scoop up these proven winners on the cheap, don’t miss the opportunity. Sometimes, these stocks never go on sale.
Recently, two massive-upside stocks experienced a sharp correction. The future is still rosy, but sometimes, even the best stocks experience temporary dips. These stocks have been high on my watch list, so the latest price declines immediately caught my eye. If you’ve been waiting to load up on millionaire-maker stocks, now might be your chance.
Take over the world
Shopify (TSX:SHOP)(NYSE:SHOP) is taking over commerce. For more than a century, it required millions of dollars to design, manufacturer, and market a new product. Companies needed their own factories for production, pre-existing influence to secure shelf space, and big ad budgets to run radio and television spots. By leveraging the internet and other technologies, Shopify is flipping the equation on its head.
Today, anyone can create a digital storefront overnight. They can connect with on-demand manufacturing facilities throughout the world to make their product a reality. Alternatively, they can create software and services that don’t require manufacturing at all. Shopify gives you integrated inventory, warehousing, and delivery tools. Those make it possible to manage a global business by yourself from the comfort of your own home, whereas it used to take dozens of employees. For marketing, you can begin with as little as $1 using Shopify-integrated ads through Facebook and Alphabet.
The retail game has changed forever, and Shopify is leading the way. Over the last 30 days, shares have fallen by nearly 25%. If you want to jump onto this game-changing tech provider, now is your best chance in years.
Play the game right
Cannabis is a rapidly growing market. In 2018, the global regulated market was only worth between $10 and $15 billion. But the vast majority of analysts expect it to grow at a 30% annual rate for at least a decade. Over the next four years, some anticipate the market hitting $40 billion in value. By 2030, it could reach $100 billion.
If these growth estimates are realized, you can bet that it won’t just be pot-specific companies joining the fray. Eventually, consumer goods companies like Coca-Cola, Kraft Heinz, Procter & Gamble, and Anheuser Busch Inbev will look to create cannabis-based products. Hexo (TSX:HEXO)(NYSE:HEXO) is going all-in on this future.
While the vast majority of pot stocks are angling to become pure-play producers, Hexo is building its business to integrate with outside industries and use cases. It has a fully integrated business model that includes cannabis production, processing and packaging, plus research and development. If Coca-Cola or any other consumer company wants to make a cannabis-infused product without acquiring an entire marijuana company, Hexo is its best choice.
In a way, Hexo is building the first and only pot platform. Any company or industry can tap into its infrastructure to make cannabis products quickly, safely, and effectively. No other company is targeting this opportunity. Hexo management is looking to onboard Fortune 500 companies, and there’s a good chance it will succeed over the coming years. Hexo is the only company positioned to take advantage of the entire cannabis market, rather than a particular slice.
Recently, the pot market took a dive, indiscriminately taking down every company in the industry. Hexo stock is down 50% since May, despite the expected 500% sale growth over the next 12 months. Hexo is building a best-in-breed business in a rapidly growth industry. Now’s your chance to buy-in at a discounted price.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. David Gardner owns shares of Alphabet (A shares), Alphabet (C shares), and Facebook. Tom Gardner owns shares of Alphabet (A shares), Alphabet (C shares), Facebook, and Shopify. The Motley Fool owns shares of Alphabet (A shares), Alphabet (C shares), Facebook, Shopify, and Shopify. The Motley Fool is short shares of Procter & Gamble. Fool contributor Ryan Vanzo has no position in any stocks mentioned. Shopify is a recommendation of Stock Advisor Canada.