Considering today's financial and macroeconomic conditions, it doesn't look like any growth stocks will be doubling soon. But the nature of sound equity investing is being able to look past what's in front of your nose and think about long-term potential. So while short-term pressures are playing out in a volatile economy, many growth stocks' future prospects are solidly intact.
Dutch Bros (NYSE: BROS) and MercadoLibre (NASDAQ: MELI) are two excellent stocks whose prices could double or more over the next five years.
Dutch Bros operates a chain of nearly 600 coffee shops in 12 U.S. states, so chances aren't high that you've visited one unless you live in the Western part of the country. It has distinct branding that sets it apart from other coffee shops and chains, with a strong focus on customer service and a fun environment.
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2 Growth Stocks That Could Double in the Next 5 Years