2 Stocks That Could Double Your Money
If you're looking to maximize your returns, now is a great time to buy stocks. Many stocks are trading at very low valuations and there's a lot of room for them to rise in value over the long term. It may be unnerving to buy during a bear market, but that's when investors can grab some of the best bargains. Below are two stocks that are not just cheap buys, but also stocks that could double in value.
Cannabis company Tilray (NASDAQ: TLRY) is down more than 90% in just the past year. That's significantly worse than the Horizons Marijuana Life Sciences ETF (OTC: HMLSF), which has crashed 75%, or the S&P 500, which is down just 12% during that time. It's currently trading at about $9 per share. For Tilray to double in value would mean getting back to the price it was at in February before investors learned of the seriousness of the coronavirus.
The coronavirus pandemic is affecting businesses and hurting sales. But cannabis is one of the things that consumers are stockpiling, as they worry they may not have access to it if there's a lockdown. The good news for British Columbia-based Tilray is that some provinces in Canada have already designated cannabis stores as essential. Both Ontario and Quebec, two of the largest provinces in the country, have said that cannabis businesses will be able to continue operating even as the government forces other businesses to shut down in the hopes of containing COVID-19.
Source Fool.com
