SHOP - Prediction: These 2 Growth Stocks Could Triple By 2030
2024-05-11 09:00:00 ET
Stocks that can triple in six years aren't easy to find. Doing so requires a compound annual growth rate of 20.1%, well above the broader market's historical performance. However, it isn't impossible.
Let's consider two stocks that may have what it takes to pull it off: mid-cap biotech Axsome Therapeutics (NASDAQ: AXSM) and e-commerce specialist Shopify (NYSE: SHOP) . There are no certainties in life (or equity markets), but both corporations have important qualities that could allow them to deliver the required CAGR to triple by the end of 2030. Let's find out more.
Axsome Therapeutics has delivered above-average returns in the past six years. Though that doesn't guarantee it will maintain that momentum through 2030, it's instructive to review why it has been able to perform so well. The biotech was a clinical-stage company that delivered meaningful clinical and regulatory progress, leading to its launch of Auvelity, a medicine that treats depression, in 2022.
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Prediction: These 2 Growth Stocks Could Triple By 2030