The Motley Fool

$4K in Top Stocks That Could Grow 4X in 4 Years!

Image source: Getty Images

If there’s one thing investors want during a pandemic and stock market crash, it’s cash — cash to keep for a rainy day, to protect against another downturn, to even have available should someone get sick. With the Canada Emergency Response Benefit (CERB) coming to an end, even dire situations don’t have this available any more. It’s time to look elsewhere for that cash. The perfect place is top stocks.

There are a few top stocks out there set to outpace the market. The main driver has actually been the pandemic itself. Investors have to look for companies that can continue to do well during these conditions. The pandemic could be here until 2024 in some estimates. So, prepare with these three companies.

BlackBerry

Employers were forced to move online if the business was going to survive. This has meant an increase in the need for cybersecurity. While BlackBerry (TSX:BB)(NYSE:BB) may not have started in this industry, it’s certainly doing well now. The company has acquired and invested in this venture and is finally showing something for it. The pandemic increased the demand even further.

During the last quarterly earnings report, the company saw a slight loss mainly due to its investment in the automotive sector and a one-time payment. As for cybersecurity, demand increased. This should correct even further during the next quarterly report next month. Success could drive prices not seen in a decade, sending shares well into the double digits in the coming years.

Cargojet

Another company set up for success is Cargojet (TSX:CJT). The company already saw an increase in share price last year after partnering with Amazon. The e-commerce giant has to deliver $400 million in business in the next few years, and its current 9.9% stake turns into 14.9%. This alone should have investors looking at top stocks drooling.

However, the rapid increase in e-commerce demand with the work-from-home economy booming means Cargojet revenue soared. Revenue increased to $196.1 million for the latest quarter, and adjusted EBITDA increased to $91.1 million. Total retail sales doubled to 14% compared to the first quarter and jumped 120% in the last year. Shares shot up almost 20% in a day at the results. With e-commerce already set to boom, the pandemic could see shares grow rapidly in the coming years.

Goodfood

Finally, with more people working from home, and more waves of the pandemic expected, it’s no wonder Goodfood Market (TSX:FOOD) saw an increase in business. The company was one of the first to see an uptick in demand once the pandemic hit. Goodfood had to hire 450 new employees and open a new distribution centre in Toronto to meet that demand.

It’s no wonder then that the company reached record net income and a positive EBITDA for the first time in company history. Shares almost doubled overnight. For those wondering if the best is over, one only needs to look at its peers. The meal kit industry can reach billions in market capitalization per company and is only now at half a billion as of writing. So, the company merely has to look at success stories among top stocks to create its own version of success.

Bottom line

All of these top stocks stand to quadruple in the next few years. If the pandemic does indeed last until 2024, these companies could continue to see a rise in demand that won’t level off any time soon. Investing just $1,000 in each stock could see a $3,000 investment turn into $12,350 if shares quadruple in the next four years.

These top stocks aren't the only way to get rich.

Looking for the Next Potential Netflix? We’ve Got You Covered with These 3 Free Stock Picks

Motley Fool Canada's market-beating team has just released a new FREE report that gives our three recommendations for the Next Gen Revolution.
Click on the link below for our stock recommendations that we believe could battle Netflix for entertainment dominance.

Click Here to Get Your Free Report Today!

Fool contributor Amy Legate-Wolfe owns shares of CARGOJET INC. and Goodfood Market. The Motley Fool owns shares of and recommends CARGOJET INC. The Motley Fool recommends BlackBerry, BlackBerry, and Goodfood Market.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss an important event.

Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group.

This is your chance to get in early on what could prove to be very special investment advice.

Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada.

I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls. I understand I can unsubscribe from these updates at any time. Please read the Privacy Statement and Terms of Service for more information.