GP - 3 Stocks That Turned $10000 Into $100000 (or More) in 1 Year!

Investors were faced with massive challenges in the last 12 months. While the equity markets plunged into bear market territory in March 2020, it also managed to stage a miraculous snapback rally to end the year at record highs.

There were several high-flying stocks in the tech sector that crushed the broader markets. For example, in the last year, shares of Shopify , Lightspeed POS , and Docebo returned 165%, 351%, and 306%, respectively.

However, there were other stocks that easily surpassed the returns of these Canadian tech heavyweights. If you had the foresight and financial flexibility to invest $10,000 in these three stocks 12 months back, you would have returned at least $100,000 today.

GreenPower Motors

The first company on the list is GreenPower Motors (TSX:GPV) (NASDAQ:GP) . Had you invested $10,000 into GreenPower at this time last year, you would be sitting on close to $209,000. Despite this staggering return, the stock is still trading 20% below its record high.

GreenPower is an electric vehicle bus manufacturer and is part of an industry that is poised for explosive growth. The shift to EV vehicles is inevitable making GPV one of the top stocks to buy and hold right now.

GreenPower Motors is valued at a market cap of $731 million. Analysts tracking the stock expect company sales to grow by 39.6% to $18.84 million in fiscal 2021. Its top-line growth is forecast to accelerate by 174% to $51.6 million in 2022.

It shows the stock is trading at a forward price-to-2022-sales multiple of 14, which is not steep considering the company’s rapidly expanding addressable market.

Score Media and Gaming

Next on the list is Score Media and Gaming (TSX:SCR) (NASDAQ:SCR) , a stock that would have turned a $10,000 investment into $100,000 in the last year. Score Media and Gaming is part of a rapidly expanding market, as it aims to create a robust mobile-first sports betting platform.

SCR has successfully developed a product that integrates real-time news, fantasy information, scores, as well as alerts. In fiscal 2021, analysts expect the company to increase sales by 71.7% to $35.6 million. Its top-line growth is forecast to accelerate by 79% to $63.75 million in 2022.

Score Media’s leadership position and interactive mobile platform will help it gain traction in several markets, as more states in the U.S. are expected to legalize sports betting. The ScoreBet application is available in New Jersey, Colorado, Indiana, and Iowa. It is already the third-most downloaded application in North America among multisport news and data platforms.

HIVE Blockchain Technologies

The final stock on the list is HIVE Blockchain Technologies (TSXV:HIVE) . A $10,000 investment in HIVE stock would have ballooned to approximately $250,000 in the last year. HIVE is a crypto mining company that suggests its stock price is closely related to the prices of digital currencies including Bitcoin.

In the last year, Bitcoin prices have soared on the back of institutional investment and widespread adoption. Alternatively, HIVE stock might also lose significant value in case Bitcoin enters bear market territory.

For example, the market cap of HIVE stock fell by an astonishing 98% between November 2017 and December 2019. The cryptocurrency space is not regulated and is highly volatile. Investors should expect wild fluctuations in the stock price of HIVE in 2021 and beyond.

The post 3 Stocks That Turned $10,000 Into $100,000 (or More) in 1 Year! appeared first on The Motley Fool Canada .

Tom Gardner owns shares of Shopify. The Motley Fool owns shares of and recommends Shopify and Shopify. The Motley Fool owns shares of Lightspeed POS Inc. Aditya Raghunath has no position in any of the stocks mentioned.

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