One lesson that the 2020s are teaching investors is that there are always opportunities in the stock market. And that is true no matter what is happening in the broader economy. Finding these opportunities is not a matter of market timing, it's a matter of understanding the trends that are likely to affect the economy.
In 2020, savvy investors saw an opportunity when oil prices briefly turned negative to buy oil and gas stocks at all-time cheap valuations. At the same time, many investors were buying stocks of biotechnology companies that were at the forefront of vaccine research.
In 2021, investors doubled their money in EV stocks and other clean energy stocks as the Biden administration put a new emphasis on clean energy. Investors also benefited from buying hotel and cruise line stocks that benefited from the ongoing phenomenon of revenge travel.
And in 2022, despite the broader market being down, many investors were buying tech stocks in October and have enjoyed the ride higher. So, what will the rest of 2023 and 2024 bring? Although we can't say for sure, here are seven stocks that look like they can help you double your money by 2025.
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- Lovesac
- Beam Therapeutics
- Wheaton Precious Metals
- Skeena Resources
- SkyWater Technology
- AST SpaceMobile
- Wallbox
#1 - Lovesac (NASDAQ:LOVE)
The Lovesac Company (NASDAQ: LOVE) presents investors with an intriguing opportunity. The company is delivering strong topline growth that is not yet fully appreciated by investors.
Lovesac was a pandemic winner that saw its revenue rocket higher as many buyers moved into new homes in new locations. And the homeowners that stayed in place were scrambling to find ways to reconfigure their homes and home offices.
That growth was expected to decline as the housing market slumped and pandemic restrictions eased. But the company is still posting strong revenue. In fact, in the first quarter of its 2024 fiscal year, the company posted a 10% year-over-year (YOY) revenue gain.
That trend is expected to continue because the company offers a product that, for now, is not easily replicated. And with earnings expected to post YOY growth of 40%, the stock should have enough fuel to double your investment by 2025.
About Lovesac
The Lovesac Company designs, manufactures, and sells furniture. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and other products comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans. The company markets its products primarily through www.lovesac.com website, as well as showrooms at top tier malls, lifestyle centers, mobile concierges, kiosks, and street locations in 41 states in the United States; and in store pop-up- shops and shop-in-shops, and barter inventory transactions.
Read More - Current Price
- $23.93
- Consensus Rating
- Buy
- Ratings Breakdown
- 6 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $38.33 (60.2% Upside)
#2 - Beam Therapeutics (NASDAQ:BEAM)
For investors looking for stocks that have the potential to double their money, the biotechnology sector is a good place to start. And Beam Therapeutics Inc. (NASDAQ: BEAM) is presenting a nice set up for you to consider.
Beam is a gene editing company. As many investors know, gene editing will be one of the hottest sectors for the next decade. The current “standard” is CRISPR/Cas9 technology which breaks both DNA strands. Beam takes an approach known as Prime Editing that only breaks one strand. The company touts this as a more precise, more accurate, and safer platform.
Two areas for investors to watch closely with any biotech company are its pipeline and its cash burn. On the first front, the candidate that is furthest along in the company’s pipeline may reach its endpoint in 2025. If successful, that would be a huge win for Prime Editing.
And in terms of cash burn, it will always be a concern. But a partnership with Pfizer, Inc. (NYSE: PFE) brought $300 million in the door in 2022 and may bring over $1 billion in additional revenue throughout the partnership that currently runs through 2025.
About Beam Therapeutics
Beam Therapeutics Inc, a biotechnology company, engages in the development of precision genetic medicines for patients suffering from serious diseases in the United States. It develops BEAM-101 for the treatment of sickle cell disease or beta-thalassemia; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency; BEAM-201, an anti-CD7 CAR-T product candidate, which is in Phase 1/2 clinical trials for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; and BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a.
Read More - Current Price
- $29.01
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 8 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $47.67 (64.3% Upside)
#3 - Wheaton Precious Metals (NYSE:WPM)
Mining stocks are highly cyclical in nature. But the current outlook for gold, silver, copper, as well as other rare earth minerals, is putting the sector in favor. And Wheaton Precious Metals Corporation (NYSE: WPM) offers investors a lower-risk option for playing the sector.
Wheaton doesn’t mine for metals. Rather, it’s a streaming company. This means it pays miners cash up front and subsequently receives a predefined amount of the metal production from those miners.
This model works in the company’s favor when the price of the underlying metals is going up. That’s been the case for much of 2022. And even with some volatility in 2023, prices for gold, silver, and copper are expected to climb in 2024 and beyond.
Analysts are forecasting that the company’s profits will increase by nearly 20% in the next 12 months, which should be more than enough to boost the company’s share price.
About Wheaton Precious Metals
Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.
Read More - Current Price
- $57.11
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $71.67 (25.5% Upside)
#4 - Skeena Resources (NYSE:SKE)
If you’re looking for a small-cap alternative for mining precious metals and are willing to accept the risk that comes from penny stocks, you should consider Skeena Resources Limited (NYSE: SKE). The company mines gold, silver, copper, and other precious metals in British Columbia’s Golden Triangle region.
The immediate catalyst for SKE stock comes as the company updated its Mineral Resource Estimate (MRE) for its Eskay Creek gold-silver project. However, the company is not generating revenue from this project or any of its operations at this time.
That’s one thing weighing on the price of SKE stock. The other is the fact that the company’s revenue is closely linked to commodity prices. Gold and copper prices, in particular, have been volatile in 2023, although both are trending upward. And with copper demand expected to be at elevated levels for the next decade. Skeena Resources is a stock that merits close attention.
About Skeena Resources
Skeena Resources Limited explores for and develops mineral properties in Canada. The company explores for gold, silver, copper, and other precious metal deposits. It holds 100% interests in the Snip gold mine comprising one mining lease and nine mineral tenures that covers an area of approximately 4,724 hectares; and the Eskay Creek gold mine that consists of eight mineral leases, two surface leases, and various unpatented mining claims comprising 7,666 hectares located in British Columbia, Canada.
Read More - Current Price
- $9.05
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
#5 - SkyWater Technology (NASDAQ:SKYT)
The Chips Act passed by the U.S. Congress in 2022 emphasizes U.S. chip production. That means onshoring will be one of the most investable themes of the next decade. And as “the only US-owned pure-play silicon foundry,” SkyWater Technology, Inc. (NASDAQ: SKYT) is already standing out for investors.
SkyWater Technology has pioneered the concept of Technology-as-a-Service (TaaS). The company positions itself as a new type of foundry service to enable the architecture required for disruptive ideas such as artificial intelligence (AI), quantum computing, the Internet of Things (IoT), and health diagnostics.
Topline revenue is growing on a sequential and year-over-year basis. However, the company is not yet profitable and is not expected to be in the next year. Investors should also be aware that the fortunes of SKYT stock will track with the broader chip sector. But in 2023, that’s bullish for the stock, which is up over 20% this year, and the SkyWater Technology analysts ratings on MarketBeat give the stock a Buy rating with a 122% upside.
About SkyWater Technology
SkyWater Technology, Inc, together with its subsidiaries, operates as a pure-play technology foundry that engages in the provision of semiconductor development, manufacturing, and packaging services in the United States. The company offers engineering and process development support services to co-create technologies with customers; and semiconductor manufacturing services for various silicon-based analog and mixed-signal, micro-electromechanical systems, and rad-hard integrated circuits.
Read More - Current Price
- $13.75
- Consensus Rating
- Buy
- Ratings Breakdown
- 4 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $12.75 (7.3% Downside)
#6 - AST SpaceMobile (NASDAQ:ASTS)
AST SpaceMobile, Inc. (NASDAQ: ASTS) is working to develop “the world’s first and only space-based cellular broadband network.” The benefit of such a network is that, if successful, it will provide uninterrupted coverage directly from space which will make broadband accessible to all.
For the company to be successful, it will first have to launch a series of satellites. In the first phase, the company plans to launch 25 satellites in the next three years.
The risk is that it will take capital to launch these satellites, and there are concerns that the company will have to take on debt – and dilute its shares – in order to ensure the launches go off as scheduled. In late June, the company raised $59.4 million through the sale of 12.5 million shares. The announcement included a 30-day option for Barclays to buy an additional 1.875 shares.
Nevertheless, AST SpaceMobile analyst ratings on MarketBeat give ASTS stock a Buy rating with a 427% upside in the next 12 to 18 months. It’s a moonshot to be sure, but one that may be worth taking.
About AST SpaceMobile
AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.
- Current Price
- $22.88
- Consensus Rating
- Buy
- Ratings Breakdown
- 4 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $43.68 (90.9% Upside)
#7 - Wallbox (NYSE:WBX)
Wallbox N.V. (NYSE: WBX) is a company that will be integral to building out charging networks for residential, business, and public use. The international company is creating smart charging systems “that combine innovative technology with outstanding design and manage the communication between vehicle, grid, building, and charger.”
The compelling story for Wallbox is how fast the company is growing revenue. In its most recent quarter, the company reported triple-digit growth from 2022, and the company was selected by the electric vehicle (EV) startup Fisker, Inc. (NYSE: FSR) as its home charging partner.
And investors get this growth in a stock that is still trading as a penny stock. However, with the company expected to become profitable in the next 12 months, WBX is not likely to be a penny stock for long. That’s the opinion of the analysts tracked by MarketBeat, who give the stock a Buy rating with a 132% upside in the company’s stock price.
About Wallbox
Wallbox N.V., a technology company, designs, manufactures, and distributes charging solutions for residential, business, and public use worldwide. The company operates in three segments: Europe-Middle East and Asia, North America, and Asia-Pacific. It offers EV charging hardware products, such as Pulsar Plus, Pulsar Plus Socket, Pulsar Max, and Pulsar Pro, an AC smart chargers for home and shared spaces; Commander 2, an AC smart charger for fleets and businesses with a 7-inch touchscreen display that provides a personalized and secure user interface for multiple users; Copper SB, an AC smart charger for fleets and businesses with an integrated socket that makes it compatible with both type 1 and type 2 charging cables; Quasar 2, a DC bi-directional charger for home-use that allows to charge and discharge electric vehicle; Supernova, a DC fast charger equipment designed for public use; and Hypernova that allows to optimize available power and adapt to the number of EVs connected for public charging along highways and transcontinental road networks; as well as Wallbox ABL eM4 Single and Twin chargers and eMC3 charging pole.
Read More - Current Price
- $0.53
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 2 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $1.56 (195.0% Upside)
One thing that you can see from this list is that you can find stocks with the potential to double in a range of sectors. But with over 6,000 stocks to choose from, it can be a daunting task for many investors. This is particularly true when many of these stocks are considered penny stocks that are known to be volatile.
MarketBeat has tools to help investors. Our updated stock screener allows investors to search for stocks based on the criteria that they define. You can focus on small-cap or mid-cap stocks. You can zero in on technology stocks or energy stocks. You can define your own price targets or how much growth is expected over a time period that you define.
And while this should only be a starting point for your research, it can give you ideas and point you in directions that you may not have previously considered.
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