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2 Dynamite Growth Stocks to Bring 2020 in With a Bang

Overall, 2019 has been a wonderful year for the Toronto Stock Exchange (TSX). The TSX has seen plenty of great action, and as the year comes to an end, this is your chance to consider opportunities for significant growth in 2020. Shopify has proven that stocks trading on the TSX can present growth opportunities for investors.

I think that 2020 is the year to consider growth stocks that have the potential to double your money. I have had my eyes on a few growth stocks leading up to the end of the year. With 2020 right around the corner, I have picked out two of my favourites that I think have the potential to bring in the New Year with explosive growth.

BlackBerry (TSX:BB)(NYSE:BB) and Maxar Technologies (TSX:MAXR)(NYSE:MAXR) are both stocks with risks in play. Yet, both companies present immense upside potential, which may cause the share prices to double in 2020.

BlackBerry

Middle-aged people and retirees might remember BlackBerry. An iconic company, BlackBerry was a pioneering smartphone manufacturer until 2008. Since then, the company has disappeared off the radar. Almost two decades into the new millennium, BlackBerry has stopped manufacturing smartphones. Instead, the company has amassed a different type of portfolio.

Back when it was making smartphones, BlackBerry had made a name for itself thanks to its exceptional security features. The company’s reputation in cybersecurity has allowed it to excel in various tech sectors in order to secure the latest technologies across the board. BlackBerry’s high-margin security software will enable clients to secure the likes of the Internet of Things, big data platforms, and autonomous vehicles.

2019 saw BlackBerry generate substantial revenue from its nex-gen products. The company’s organic growth is on an excellent track. BlackBerry has seen its share prices decrease for years on end, and at a value of $7.16 per share. I think the company is highly undervalued. As its next-gen products kick off in 2020, the whole picture could change entirely.

Maxar Technologies

If you already know about Maxar Technologies, you might look at its name with a bit of confusion here. For context, Maxar shares were trading at more than $64 at the start of 2019. At the time of writing, the stock is down by more than 82% and is trading for $11.44 per share. The stock fell as far as $3.83 earlier this year and has since tripled in value.

There were plenty of reasons for the company’s massive slump. The company had accounting and debt issues, while end-market concerns had dragged it down even further. The company needs to regain the trust of its customers and get new contracts. The share price dropping so drastically can be a blessing in disguise.

If the company manages to secure new contracts with clients, as it has over the past few months, the stock’s value can keep on increasing. At the current value, Maxar still has to grow by more than 80% to reach its five-year high of more than $83. If the company cannot continue its upward trajectory, it could get wiped out completely.

Foolish takeaway

Between BlackBerry and Maxar, BlackBerry is the safer option. Maxar carries a lot of risks, but it has excellent upside potential. The chances are part of the ordeal when you are going for growth stocks. If you are a brave investor who wants to take a chance, you can take a look at the two growth stocks for 2020.

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Fool contributor Adam Othman has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends BlackBerry. The Motley Fool recommends BlackBerry and MAXAR TECHNOLOGIES LTD.

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