SHOP - 2 Stocks That Could Double Your Money in 5 Years
2024-02-08 07:45:00 ET
In the investing world, a two-bagger refers to a stock that gains 100% -- that is, it doubles your initial capital. Doing so in a mere five years is no easy feat. It requires a compound annual growth rate (CAGR) of about 14.9% -- which, incidentally, is pretty much what the S&P 500 has posted in the past half-decade.
However, this has been an unusual period; the broader market's average annual return is usually below that level. So returns of this type are by no means a guarantee. But if I had to bet on two stocks doubling my money in the next five years, Shopify (NYSE: SHOP) and Axsome Therapeutics (NASDAQ: AXSM) would be on that list. Read on to find out why.
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2 Stocks That Could Double Your Money in 5 Years