Five Stocks that Are Set to Double In 2022

With the Russia-Ukraine war threatening to reach boiling point, volatility is rife. Oil prices keep bouncing up and down while inflation —or better, stagflation— is looming over the minds of investors.

With the impossibility of pulling out a crystal ball and predicting what can happen next, some stocks in specific sectors are up for great dividends given economic estimates that expand from current issues to more structural developments.

A new report by MarketMoving Trends has arrived with new data and analysis of those stocks that are set to double in the space of a year. Some players within the electric vehicle (EV) supply chain, as well as fintech, and cryptocurrency companies comprise the following list.

Lithium Americas Corp (TSE:LAC)

Lithium Americas’ stock is set for a solid outlook as West sanctions on Russia will send lithium higher; the oil imports ban in the U.S. will also drive electric cars adoption —the chemical element is essential for the manufacturing of EV batteries.

Currently priced at $34 a share, the stock is up for great gains due to the mouthwatering opportunities in the EV market. Experts say that 125 million EVs could be on the road by 2030 —further, big players like Ford Motor Company (NYSE:F) are in the process of abandoning internal combustion engines.

Affirm Holdings Inc (NASDAQ:AFRM)

Priced at $152, Affirm Holdings’ stock is set to double in 2023 since the adoption of “Buy Now, Pay Later” (BNPL) is growing while interest rates remain low. BNPL is also being boosted by offers from big players like PayPal Holdings Inc (NASDAQ:PYPL) and Apple Inc (NASDAQ:AAPL) —which is currently working on the service.

Affirm has teamed up with Amazon Inc (NASDAQ:AMZN) and Target Corporation (NYSE:TGT) to be their financing option under specific purchase amounts and conditions. The company’s revenue soared 55% for the quarter and hit $269.4 million.

Cassava Sciences Inc (NASDAQ:SAVA)

Among all Alzheimer’s stocks, Cassava is a hot one. The stock exploded after October last year when the company announced a phase III efficacy trial of its simuflan, its investigational drug for the incapacitating disease. 

According to estimates, solid results in this test could see the stock shoot to $120. CNN Money asserts that “the median estimate represents a +225.00% increase from the last price of $36.00.” Cassava is a high-risk, high reward stock according to expert Joe Cotton.

Riot Blockchain Inc (NASDAQ:RIOT)

As retail and institutional investors grew increasingly interested in bitcoin, the asset reached a record $68,978 —JPMorgan Chase & Co (NYSE:JPM) predicts it could hit $146,000, with Nikolaos Panigirtzoglou saying that the digital coin could become an inflation hedge amid consumer prices concerns.

This whole talk has nothing but driven excitement about bitcoin mining stocks such as Riot. Since 2000, Riot shot up from 63 cents to a recent high of $39 as it rode the bitcoin wave and got to produce 464 BTC in 2021 —around 433% above October 2020 production.

ChargePoint Holdings Inc (NYSE:CHPT)

Along with EV materials stocks such as Lithium Americas, the shares of charging companies are growing amid increasing electric cars adoption. CHPT is catching the eye as it jumped from around $18 to $25.80 and could reach the $37 mark.

The stock will benefit from President Biden’s $1 trillion bill to boost the EV business, with $5 billion specifically allocated to charging infrastructure in highway roads. The goal is to help build more than half a million charging stations.

Pasquale Romano, President and CEO of ChargePoint, said “ChargePoint’s strong second-quarter results demonstrate our continued growth and leadership in the electric revolution.”

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(Featured image by Adeolu Eletu via Unsplash)

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