Society has been touting 2020 as the worst year on record. However, within the financial world things have been bad since about October 2018. After the legalization of marijuana — the last time investors thought they could make millions — analysts everywhere were warning investors that a crash was coming, and when it did, that investors should juggle their portfolios.
It took over a year, but after a number of dips in the market, the crash has come. The news now? When the rebound will take effect? To be honest, the crash may have come and already gone, leaving investors with the opportunity to get in on great stocks that could even set you up to be millions richer.
This crash proves it
A company like BlackBerry is needed in today’s online world. Companies that once didn’t even consider letting employees work remotely are now being forced to allow them to work from home. This leaves a company like BlackBerry in the position of managing the main thing a company fears with remote work: cybersecurity.
BlackBerry has moved away from its once booming cellphone business and is now selling something everyone needs: peace of mind. Cybersecurity applies to everything, from governments to self-driving vehicles. Everyone needs to know their information is safe.
While it took some time, after years of this turnaround, BlackBerry’s revenue has finally steadied, with the company making more than $1 billion in revenue per year selling their software, bringing in 16% more revenue year-over-year as of last quarter.
Better still, the company has an incredible amount of room to grow, as it’s just getting started. It’s no longer dependent on a piece of equipment, but rather its core business that relies on long-term licensing sales.
Tech stocks are the first to drop in a market crash, and BlackBerry was not immune. The stock almost reached $9 per share before tumbling about 45% after the crash. Today, people will need a company like BlackBerry more than ever before, which is why it’s about to take off.
Here’s what I think will happen. As the company isn’t tied to the markets, it will continue to push out strong revenue in its earnings reports. Analysts and investors will then start realizing its value and buy up the stock, and that’s when others will jump on board and see the stock soar.
Meanwhile, BlackBerry will continue to acquire other artificial intelligence (AI) businesses to keep its business booming.
One of my colleagues equated this rise to that seen with Netflix back in 2011, when the company went from a DVD-to-mail business to an online streaming service. The company reached around $40 per share, fell to around $9 per share, and then took off.
As of writing, it trades at $373 per share — and this could be the case for BlackBerry. BlackBerry’s rise and fall has been much more dramatic, but it could definitely return to those $110 share prices it once had.
If this happens, investors are getting a steal of a deal with BlackBerry. The stock trades right now around $5 per share, for a potential increase of 2,100%!
However, this will likely happen over the next decade or so. Even if that’s the case, if you have some patience, this could be the easiest way to make millions.
Investing the $69,500 of contribution room in your Tax-Free Savings Account (TFSA) would bring your portfolio to $1,529,000 if the stock reaches that $110 share price.
Renowned Canadian investor Iain Butler just named 10 stocks for Canadians to buy TODAY. So if you’re tired of reading about other people getting rich in the stock market, this might be a good day for you. Because Motley Fool Canada is offering a full 65% off the list price of their top stock-picking service, plus a complete membership fee back guarantee on what you pay for the service. Simply click here to discover how you can take advantage of this.
Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. David Gardner owns shares of Netflix. Tom Gardner owns shares of Netflix. The Motley Fool owns shares of and recommends Netflix. The Motley Fool recommends BlackBerry and BlackBerry.