The good news is that there are plenty of stocks that offer the potential to generate great long-term returns. Here are three stocks that could even double your money over the next few years.
1. CRISPR Therapeutics
CRISPR Therapeutics (NASDAQ: CRSP) is not too far from doubling this year, with shares close to 80%. But the biotech stock should still have plenty of room to function.
You will especially want to look at the lead candidate in CRISPR Therapeutics’ pipeline, CTX001. CRISPR and its major partner Vertex Pharmaceuticals are currently evaluating gene editing therapy in early stage clinical studies targeting rare blood disorders, beta thalassemia and sickle cell disease. The companies have already reported encouraging preliminary results from these studies and plan to announce additional data in the coming months. CTX001 has the potential to essentially cure these diseases.
CRISPR Therapeutics also has a great opportunity with its three allogeneic chimeric T antigen receptor (CAR-T) therapies in early clinical trial phase. CAR-T allogeneic therapies use immune cells called T lymphocytes from healthy individuals that are genetically engineered to target specific types of cancer and then infused into sick patients. Current CAR-T therapies on the market use sick patients’ own T cells – a much slower and more expensive approach than allogeneic therapies should be. CRISPR plans to publish the results of its preliminary trial of one of its CAR-T therapies, CTX110, by the end of this year.
Of course, there is a real risk that CRISPR Therapeutics’ gene editing programs will fail. But so far there are plenty of reasons for investors to be cautiously optimistic. If CTX001 or one of the company’s allogeneic CAR-T therapies succeed in clinical trials, CRISPR Therapeutics is expected to easily double in the not too distant future.
Quickly (NYSE: FSLY) has taken investors on a really crazy ride so far in 2020. The tech stock has seen seven swings of at least 20% in the past three months alone. But even with the turmoil, Fastly is still up over 350% year-to-date.
The name of the company refers to its underlying business. Focuses rapidly on accelerating the delivery of applications and data over the Internet through content delivery networks (CDNs) and advanced computing. CDNs reduce the physical distance between servers and end users with a widely used distributed server platform. Edge computing takes a somewhat similar approach by moving applications and data processing near the edge of the cloud – the point where corporate networks connect to the cloud.
Fastly’s addressable market currently totals over $ 35 billion. It could get much bigger than that with the unstoppable migration of apps to the cloud. Fastly currently holds less than 1% of this market, which gives the company a massive growth opportunity.
The company’s biggest customer is TikTok, the video-sharing social network that has recently been at the center of a political storm. Until a deal is fully finalized to separate TikTok from its China-based owner, ByteDance, shares of Fastly could remain very volatile. However, Fastly’s long-term outlook is excellent.
3. Innovative industrial properties
If you have any doubts about the heat of the U.S. cannabis market, just watch Innovative industrial properties (NYSE: IIPR). Shares of IIP have climbed over 60% so far this year, and have soared almost 600% in the past three years.
IIP is the leading real estate investment trust (REIT) focused on the medical cannabis industry. He buys properties from medical cannabis operators, then turns around and rents them out to the operators. This helps tenants to collect cash while giving the IIP a steady stream of income.
The way for IIP to double down is pretty straightforward: just keep doing what it did. IIP currently owns 63 medical cannabis properties in 16 states, up from 46 properties in 14 states at the end of 2019. The company’s attractive dividend, which currently earns nearly 3.8%, makes it even easier for IIP to deliver huge returns to investors.
It is possible that the legalization of marijuana at the federal level in the United States may pave the way for more competitors to enter the IIP market. However, legalizing marijuana is by no means a slam dunk. And although IIP faces increased competition in the future, the growth of the overall cannabis market in the United States should allow this stock to continue on its winning streak.