When investors start buying stocks, there’s no question that the goal is to make money. However, some stocks won’t be able to generate the massive returns you’d hope. In this article, I aim to provide three companies that have a good chance of generating great returns. Here are three stocks that could double your money.
This company is riding a massive trend
Around the world, there’s no doubt that the e-commerce industry has gained massive popularity over the past year. Much of this increased penetration has come as a result of the widespread restrictions associated with the COVID-19 pandemic. However, as we exit the pandemic, investors may have noted that many companies operating within the e-commerce industry have managed to sustain impressive growth rates. Shopify (TSX:SHOP)(NYSE:SHOP) is a company that investors should focus on in particular.
The company provides merchants with a platform and all the tools necessary to operate online stores. Shopify’s mission is to “Make commerce better for everyone.” It does that by providing a range of packages so that merchants can find one that best suits their situation. Current Shopify customers include everyone from first-time entrepreneurs to large-cap companies like Netflix. With e-commerce continuing to increase in popularity and merchants finding massive success on its platform, expect Shopify to keep growing in the coming years.
This stock is a proven winner
Another major trend occurring around the world is the shift to renewable energy. Over the next few years, companies operating in those industries can expect to see high levels of interest from investors. In fact, it’s expected that $5 trillion to $10 trillion will be invested into the renewable energy space over the next decade. If that happens, companies like Brookfield Renewable (TSX:BEP.UN)(NYSE:BEP) could see massive increases over the next few years.
Brookfield Renewable has already proven to investors that it’s capable of generating market-beating returns. Since its inception, the stock has managed to generate an annualized return of 19%. Over the past two years, Brookfield Renewable stock has been even more impressive, gaining about 94%. With a massive flow of cash projected to enter the renewables space over the coming decade, there’s a good chance we could see Brookfield Renewable double again.
A company helping businesses adapt to remote operations
After Docebo (TSX:DCBO)(NASDAQ:DCBO) stock fell 40% to start the year, there were probably very few investors who expected to see the stock double in value this year. Indeed, that’s exactly what Docebo’s done. In fact, since hitting its lowest point in March, Docebo stock has gained more than 113%. At a market cap of just $3.5 billion, it’s fairly safe to say that this company’s days of growth are far from done.
Docebo provides a cloud-based and AI-powered eLearning platform to enterprises. Using its platform, training managers can more easily assign, monitor, and modify training exercises. This is sort of platform, provided by Docebo, has become nearly essential in a remote, and increasingly work-from-home, business world.
With customers like Amazon helping normalize offerings like Docebo’s platform, the enterprise eLearning space should see massive growth in the future.
