Best stocks to buy now that could look to make you a millionaire in the long term
Are you looking to invest in some of the best stocks on the market that can look to make you a millionaire? Take a look as we have chosen 9 stocks that can look at making you a millionaire in the long run and give you that perfect retirement security.
The Top 9 Millionaire-Maker Stocks for 2023:
- Innovative Industrial Properties
- Intuitive Surgical
- Chipotle Mexican Grill
- Teladoc Health
One key factor which many investors look to strive for before looking to invest is to be successful. If being successful means to look at becoming a millionaire, yes it is more than possible to achieve this goal. However, realistically to archive such a goal it requires many elements spread across a period of time from dedicated investing.
If you possess the right discipline when it comes to spending, saving and investing you have the makings in order to archive. It all comes down to great due diligence with strong knowledge and understanding of the market and international markets, along with investing smartly.
Many may even be under the impression that you have to invest large amounts in order to achieve such a goal, but this couldn't be further from the truth. Small amounts that are invested in your portfolio of stocks can excel and grow significantly well over the years. If you start early into investing, there are some fantastic companies which have the potential to grow significantly and will continue to grow over many years, leaving you with great returns.
Having said that, some of the world's giant companies who are on the market today who are pulling in huge revenue figures and fantastic returns, can also contribute to make you earn fantastic earnings in the long term, although the price for these bigger stocks will be much higher in comparison to smaller stocks.
On the subject of smaller stocks, many are showing magnificent results and these stocks could just take you nicely by surprise with just how quick they can achieve success. Conducting research and devoting time on these blossoming stocks could look for you to achieve your goals quicker than you thought.
So how do you look to find such stocks that can look at making you wealthy through investing? Let's take a look into how you look to find stocks that could offer you great potential earnings.
How To Choose The Best Stocks That Could Make You A Millionaire
The next part of the process is to look at what determines a stock as a stock to look at to give you such financial returns, and what elements you need to look at to determine a stocks potential future outlook.
First thing you have to do is to set time aside and conduct research into various stocks, look at their past performances to see how well they have been performing in recent days. Although it is not guaranteed that a stock's past is going to be the stock's future, it does give you a good indication of what the company is capable of achieving and along with looking at the company's growth potential for the future. Alongside this, it is beneficial to make a plan for your stock trading journey which includes possible stocks and your personal financial limits.
On this note, whilst you are conducting your research into certain stocks it's worth noting how well they have done in a year like 2020. As the year 2020 has been a hard challenge for most, but this will give you a greater image that if a company has performed well during difficult times, then it has the capability to continue its rise in growth post - Covid-19. But having said this, these companies will still have their own risk elements.
Once you have set aside time and research now is to look at statics within various stocks.
A good indication to look at with a stock is to see its returns it has brought in over the previous years and to where it sits today. Along with looking at other aspects including a company’s P/E (Price to Earnings Ratio) and forward P/E ratio, the company's balance sheet along with the company's share price and 52-week range. All of these statistics will give you an understanding of how the company is moving forward in terms of growth, if the stock is under or overvalued based on its share price and what returns you can look to archive from a stock.
A fantastic formula to consider when looking to determine if a stock can look to be a millionaire is ‘Rule of 72’. This formula is designed to be quick and useful when looking to get an estimate of how many years it can take to double your money, or you can simply apply this formula to anything that grows. This formula is widely popular within the financial world, as it allows investors to gain a quick approximate value on a certain stock of interest.
Now let’s look at the way in which the formula works. Let's take the mega-giant brand Amazon as an example. Back in September the company's return on investment was 20.07%, now if we apply the formula 72 divided by 22.07 (72/22.07) this will come out at 3.26 which means three and a half years will take this stock thereabouts to potentially look at doubling your money, but taking into consideration how much you have invested in this stock.
To look at the bigger picture, take the popular index Dow Jones Industrial Average who returned 9.70% in 2020, however taking dividend returns away left the index with a return of 6.87%. Granted, this index, which is home to some of the largest companies in the world did take a hit in 2020 due to the Coronavirus pandemic, whilst the S&P 500 index was one of the best US indexes within 2020. But when you apply Rule 72, this leaves an outcome of 10.48, so over 10 years to look at doubling your money.
But keeping a solid understanding on the market and carrying out additional research is always advised before diving straight in to invest in any stocks, especially if you are looking for big returns it’s wise to research smartly.
Now we have looked at ways to determine if a stock is a potential ‘millionaire-maker’, now let's take a look at 9 stocks that have the potential of reaching that goal.
Top Stocks That Could Make You A Millionaire:
1. Innovative Industrial Properties (IIPR)
To start the list, Innovative Industrial Properties Inc (IIPR) has to come first. As we lead into 2023 the marijuana industry is set to become the underdog industry set for great success, and it is also an industry that will carry on growing across the globe as potentially more countries look to legalise marijuana usage.
Following President Joe Biden success in becoming the USA’s new leader, this has heightened the cannabis industry even more so, as President Biden and his team are set to be in favour of authorising the use of marijuana for both recreational and medical uses across various or if not all US states.
In light of this news which has and is eagerly awaited by many investors, IIPR, a stock within the industry is one that is a big contender to look to reach great highs.
Innovative Industrial Properties Inc is a pioneering real estate trust for medical-use of the cannabis industry. The company specializes and focuses heavily on real estate assets for regulated medical-use of marijuana, along with offering other real estate solutions for investors to be a part of.
But this avenue is certainly one that is a key focus, the company's focus is to continue acquiring more medical-use cannabis operation facilities as more US states make the use of medical marijuana legal.
Innovative Industrial Properties currently owns over 67 property’s set across 16 states within the US, with 100% leased as of January 25th 2023 which confirms that the company is already ahead of their November 2020 report. To which as more states legalize the use of Marijuana, expect to see these figures go higher in no time for this leading real estate company.
Within the companies 2020 report, the company confirmed that Capital raised (including equity and exchangeable notes) was $1.43 billion, with a Q3 rental revenue of $126.1 million, $1.18 billion capital invested along with almost 95% of units leased.
Alongside all of the positives that surround this stock, it is also a dividend stock to which the company has deemed it to be one of their most ‘attractive’ attributes, the company pays 90% of their taxable income in dividend to shareholders to which are paid quarterly and have been since 2017.
Looking back to 2019, cannabis sales grew within the US to an estimated figure of around $12.4 billion which grew 37% from 2018 and looking ahead, the industry has been expected to reach $34 billion by 2025. This is a staggering amount to consider and a huge indication of which way this industry is heading, with 35 US states confirming the use of legalized medical marijuana use.
Where does the stock sit today?
IIPR share price as of today is at $211.47 holding a 52-week range of $40.21 as its lowest and $211.47 at highest alongside a P/E (price to earnings ratio) of 43.78.
The company's annualised dividend stands at $4.96, as of its last payout on January 15th.
This NYSE listed real estate firm is a stock that as you can see, has a huge potential of gaining huge growth as the cannabis industry is set to soar, not to include other avenues within the real estate world that this stock has.
For this stock's positive balance sheet, strong positioning within a growing industry and its strategic plans to develop, makes this stock one in which that could look to make you wealthy over the long-term, and one stock to keep hold of as the world continues to evolve legalising marijuana for both uses.
2. Tilray (TLRY)
52 week range - $2.43 - $28.86
Let's find out why Tilray could be a millionaire-maker stock.
Sticking to the cannabis industry, Tilray Inc (TLRY) comes next on the list of stocks which could potentially hit the jackpot.
As mentioned when discussing IIPR, the cannabis industry within this year and leading further is expected to boom, so why not add a leading cannabis manufacturer to the list of stocks that could make you wealthy in the long-term.
Tilray inc is a Canadian pharmaceutical and cannabis company headquartered in Toronto, Ontario. Operating across the United States, Germany, New Zealand, Australia, Latin America and more. One vital factor to mention about this stock is that in December 2020 Tilray announced a merger with Aphria Inc (APHA), which will carry on being traded under TLRY, now this stock sits as the largest multinational cannabis company based on revenue in the world.
This positive news is just one huge part of this stock's positioning as we look to the future, along with what analysts are predicting for this exciting and developing industry. Looking back on Tilray’s performances over the years it has been very up and down but steady, and that is not including of course what is still to come.
Tilray has seen its share price fluctuate over the years and it sits reasonably well at $25.72 today. But with its merger with Aphria Inc, now this stock is arguably the bigger driver behind TLRY stock as it strives for future huge success.
Aphria Inc, before the merger with Tilray, confirmed in the company's Q3 November results that over the past six months the company had increased its revenue to $306,221 from 2019’s six months figures ending on November 30th of $246,712. Alongside this figure, the cannabis Net Revenue over the same six month period ending on November, was up by over double from 2019 which was $64,943 to $131,402 by 30th November 2020.
Now if you add these blossoming figures to Tilray’s results whose revenue was up to $153,922 within the first nine months of 2020 in comparison to $120,043 in 2019, this is looking like a force to be a part of within the cannabis industry. Additionally, in recent news TLRY stock is already continuing the positive outlook and it has also received the first go ahead for market authorisation to offer medical cannabis products in Portugal.
Where is TLRY stock sitting on the market today?
Tilray’s share price today sits at $25.65 which is significantly below its peak share price back in 2018. However, the potential is there and its share price has already been predicted to soar as the hype continues to surround this industry.
Tilray Inc holds a 52-week range of $2.43 at its lowest at $28.86 at its highest.
Tilray is proving the point of this stock's mission, to which you may wish to jump on board whilst this stock is proceeding fairly with its share price to date for what staggering earnings you could potentially achieve in the long-term as forecast by analysts who have predicted that this leading cannabis stocks revenue will grow by 53.07% per year along with having an almost 20% market share within the marijuana industry.
3. Intuitive Surgical (ISRG)
52 week range - $360.50 - $826.81
Intuitive Surgical Inc is an American medical company that is worth seriously considering to add to your portfolio as this stock offers growth, strength and high earnings potential.
The American company manufactures, develops and advertises robotic medical products with the aim to improve clinical outcomes from patients' surgical procedures. The company's most impressive design to date, the da Vinci Surgical System is set to evolve over the coming years and is already doing so as it continues to impress professionals and patients with its results.
The da Vinci Surgical System has been deemed ‘a work of art’ within the medical industry. The robotic surgical system has been created and designed to be controlled by a surgeon through a console, when a surgical procedure is performed it is proven to see what the naked eye may not be able to as medical professionals are able to get closer to the area whilst using and directing the medical equipment which is at the ends of each arm of the console, rather than a surgeon's own hands using the equipment. The da Vinci Surgical System price ranges but overall costs approximately $1.5 million per piece, with the new model the da Vinci SI which was released in April 2019 being higher at $1.75 million per piece.
Although this futuristic piece of technology is impressive yet slightly costly, it has managed to sell well with sales continuing along with predicted for further success as the outcomes from certain procedures and time efficiently rule over. As it stands today, the company has sold just under 6,000 da Vinci Surgical systems to date spread across the United States, Europe and further across the globe.
Within the company's Q4 report reported on January 21st, the company confirmed the positive outlook as worldwide da Vinci procedures increased by 6% compared to 2019, taking into consideration of the Covid-19 pandemic that has halted many procedures.
ISRG also confirmed that 2020 fourth-quarter revenue was up by 4% to $1.33 billion from 2019 Q4 of $1.28 billion, along with its da Vinci Surgical System installation base increasing by 7% to 5,989 by December 31st 2020.
Looking at the bigger picture, Intuitive Surgical Inc is sitting in a good financial position from the latest report. The company ended Q4 2020 with $6.9 billion in cash which increased by $508 million during Q4 alone, from various operations, as confirmed the companies revenue increased by 4%, instruments and accessories revenue also grew by 11% driven by da Vinci procedure volume, GAAP operations income also increased to $416 million in comparison to 2019.
With these results, there is no doubt that hospitals around the globe are going to demand to have these pieces of equipment as an essential tool within their facilities, as in hope that the Covid-19 deadly disease becomes ever closer to one day being under control, we will surely see more procedures being carried out and sales-driving high with the demand for da Vinci Systems worldwide.
Where does the stock sit today?
Today ISRG share price sits at $762.25, which holds a 52-week range of $360.50 at its lowest and $826.81 at its highest.
Based on the company's share price, P/E ratio of 86.08 this stock may be on the high side, however at the right price this stock is certainly one that could look at hitting the high note as we move forward.
There is plenty of growth potential on the horizon for this leading corporation, as they will no doubt look to expand on other robotic creations potentially down the line along with focusing on expanding and developing their latest da Vinci System, this stock could earn you fantastic returns and is a perfect long-term investment.
4. ETSY (ETSY)
52 week range - $29.95 - $226.72
ETSY Inc, a stock that is becoming ever more popular and well known across the globe has the definite footings of becoming a millionaire-maker.
The American e-commerce website which focuses and is home to sellers across the globe who create and sell homemade crafted items, has witnessed a huge surge during 2020 which is making its mark looking to the future. As both buyers and sellers around the world get in touch with their creative sides and seek to buy and create unique hand-crafted designs, from drawings to clothing, from supplies to home decor, there is nothing that you can not find on this e-commerce site.
ETSY stock has been growing well for a relatively good-sized company in comparison to other e-commerce websites and since this stock was founded back in 2015, to which is still a baby having only been operating for 15 years, is showing that it is more than capable of delivering fantastic returns and has a huge avenue to excel and look to potentially becoming a top e-commerce website on the planet as time moves forward with its uniqueness.
In 2020 as the Covid-19 pandemic took over the globe, Etsy Inc started to adapt the changes that it needed to make including a callout to all sellers to look to make face masks to prevent and fight against the virus. Following this news, sellers created unique designs and were sold worldwide whilst it was reported that masks made up 11% of the companies sales within Q3 reportedly selling $24 million alone.
On the back of the Covid-19 pandemic with individuals confined to their homes and looking for new avenues to explore, Etsy shares rose significantly, so much so that it blew predicted forecasts by analysts above the water by a massive amount as individuals spent time and money on the website.
The company is looking to report its next earnings report on the 24th February 2023, to which will confirm just how well this stock has performed over 2020. Looking at the companies previous financial announcements if this is anything to go by, there is no wonder that analysts have given this stock an ‘outperform’ and ‘Buy’ consensus ratings respectively.
In 2019 Etsy’s revenue increased by 35.6% year-over-year to $818.4 million from $603.7 million in 2018, with Net income being $18.4 million up to $95.9 million in 2019 from the year prior.
Etsy Inc is in a good financial position for a smaller e-commerce stock which can continue to help support local businesses worldwide to operate as it develops its digital presence along with balancing out debt levels. This stocks equity to debt ratio stands high at 158.2%, but it is covered well by opening cash flow.
Within 2020, Etsy’s share price has skyrocketed and has grown impressively since April 2020 having grown by almost 5x as much as it sits today at $231.12 from the start of April 2020 at $38.15 before its rise.
There is no doubt that this stock has the definite makings and footings of making you wealthy if you invest for the long term, to which now is a good time to look at buying into this stock as it looks to be undervalued based on its financials and given growth potential. 15 out of 17 Wall Street analysts have given this creative stock a consensus ‘Buy’ rating with revenue forecast set to grow by 25.06% per year.
5. Lovesac (LOVE)
52 week range - $4.00 - $61.46
Sticking along the e-commerce side, Lovesac Co (LOVE) is an American furniture retailer that offers unique designs including its signature oversized bean-bags, sofas, blankets and much more.
Headquartered in Stamford, Connecticut this glowing company has been on the rise throughout 2020 which has arguably been helped by the ongoing Covid-19 virus, as it has enabled individuals to utilise their time and explore this unique, affordable, furniture retailer that has the power to look at creating more success as we move forward within the new-normal world.
Taken from the companies Q3 fiscal financial report the company saw a ray of positivity spread across all avenues of the board. It was confirmed that Net Sales Growth grew by 43.5%, to a boasting revenue of $74.7 million ahead by a reported $8.6 million, which was heavenly driven by the brand’s online presence with internet sales hitting 125.2%.
But two huge results reported on the companies report was that of the companies Operating Income which was $2.5 million in the third quarter of 2023 in comparison to a loss of $6.9 million in its previous year with an operating margin of 3.4% in comparison to 13.2% of net sales in the third quarter in 2020.
Naturally, this led to New Income coming in the green, the company's Net Income came in at $2.5 million within Q3 2023 in comparison to the previous year where the Net Income came in at a loss of $6.7 million within the same third-quarter period. Now if this is not a stock on the rise, we don’t know what is.
Whichever way you look at this stock, it has potential and positivity surrounding it as the figures and the demand is apparent from over the past year. The help of social media along with its dominating online sales, this is only going to progress as more households become aware of this brand across the US, and who knows what other avenues this company may look to go down in the future if the demand remains high.
Where does this stock sit today?
LOVE stock has a share price today holding up at $57.26 with a 52-week range of $4.00 being its lowest and $61.46 at its highest.
The company currently holds a P/E ratio of 13.79, along with a healthy cash position and with no debt outstanding as of November 1st 2020.
What have analysts predicted for this stock?
This stock has been favoured well in light of its performance over the past year by analysts who also do look at the bigger picture. 7 out of 7 Wall Street analysts have given this stock a ‘Buy’ rating with Zack Rank Investment B rating for growth.
For this furniture stock that holds its motto of “Designed for life” furniture pieces, this stock is certainly one to either watch out for or to look at buying into as this is one that could excel very nicely within no time and give you exceptional returns.
6. Shopify (SHOP)
52-Week Range: $305.30 - $1,285.18
Shopify Inc has risen significantly over the past year due to the Coronavirus pandemic. To put it simply if you have invested in this stock over the past 5 years with a sum around $40,000 you will be over the million mark by now due to this stock’s performance, despite its slight decrease in share price back in March 2020 as the market and the world was hit with a bang.
What is Shopify Inc?
Shopify Inc if you are not yet familiar with this stock is a Canadain multinational e-commerce company based in Ottawa, Ontario.
The platform enables retailers to have it all under one roof with a ray of various services which include marketing and advertising of their business, payments, shipping and offers customer engagement tools to be able to reach out to consumers.
Due to the Pandemic, it has arguably boasted the company to a new level to what it was portrayed slightly beforehand. As the world has and is adapting still to remote work from home measures across the globe, Shopify has made business owners operations smoother, available and efficient during such challenging times.
In a statement, the company had confirmed that as of January 2023, there are over 1 million businesses spread across approximately 175 countries across the globe that are operating through Shopify.
This stock at present is shining, however, many investors and by looking at the company's statistics that it currently holds, holds an overvalued outlook at the moment. But this is not to say that this stock is one not to consider, it just simply means to get it at the right price and to take into consideration the future aspects as the world draws closer to a new normal.
Within the company's recent Third Quarter report, the stock blew over with their results. To start, the company reported a 96% increase year-over-year in Total revenue within the third quarter which was $767.4 million. Operating income for the third quarter of 2020 was $50.6 million in comparison to a loss of $35.7 million in 2019, Net income also proved and confirmed how well this stock has done over the year as it confirmed a Net income for Q3 2020 of $191.1 million, or $15.54 per diluted share in comparison to a net loss of $72.8 million or $0.64 per basic and diluted share.
These results are to say the least, impressive.
With many other notable factors, this caused the company to become profitable within a short period of time it seems as the company's profit margin has increased by 17% from 19% to 8%. Not to mention, the record-breaking sales across Black Friday and Cyber Monday which reached over $5.1 billion sales worldwide.
The stock currently sits at $1,287.76 on the market today, which has increased hugely since April 2020 where it was positioned at $357.65 at the start, before the stock started to have slight ups and downs, before it rocketed to its new highs.
But based on other factors that this stock holds including its now operating cash flow and its future forecasts which include, its high return on assets forecast to increase by 10%, its revenue to increase by 38.15% per year beating the market average and lastly the company being more efficient on at generating a return on capital of 1.6%.
Although this stock does pose risk elements and is on the high side based on its valuation, this stock is certainly one that could make you wealthy in the long-term outlook.
The company is set to release its Fourth Quarter financial results on February 17th 2023.
7. Chipotle Mexican Grill (CMG)
52- Week Range: $415.00 - $1,553.55
The American fast-food chain Chipotle Mexican Grill Inc also operates across various other countries including the USA, UK, Germany, France and Canada has managed to regain some positive movement over the past year, despite the Covid-19 pandemic hitting the hospitality industry tremendously hard.
In recent days the company has announced its fourth-quarter and full-year results for 2020 and this fast-food chain has shown what is achievable when in the midst of a global pandemic.
Within the fourth quarter Total revenue was up to $1.6 billion a 11.6% increase, digital sales which have been a saving grace for the company over the year grew by 177.2% within Q4 to which made up almost half of the company's total sales, restaurant sales grew by 5.7%, opening of 61 new restaurants, diluted earnings per share including an income tax of $3.77 was confirmed at $6.69, partially offset with a fee of $0.56 from expenses relating to other costs, to which was an increase of 162.4% increasing from the previous figure of $2.55.
Within the companies Full Year performance, the highlights are impressive as Total revenue is up by 7.1% to $6.0 billion year-over-year, digital sales grew by 174.1% to which made up just under half of the company's total sales at 46.2%, opening of 161 new restaurants in total within the year which included six relocations and 9 closures and diluted EPS was up by 1.1% to $12.52.
CMG has proven if nothing else that within challenging times you can still deliver fantastic results. And a lot of praise has to be said for its digital appearance for this stock, as many stores across the globe have been impacted by safety measures brought on due to the ongoing pandemic and which many are closed across Europe.
What does this hold for the future?
Chipotle Mexican Grill Inc although it boasts of fantastic growth potential as it has been evidenced not just within the challenging year of 2020 but for many years, as it has delivered impressive results. But this stock does not come cheap as it currently sports a P/E ratio of 174, however it has the potential for a long-term investment to make you wealthy over time.
Company’s share price today sits at $1,506.88, if you look over a five-year scale, this stock’s share price has grown by over 5 times as much to where it stands today. Along with this year seeing a decrease at the start of the pandemic around March/April time but then went on to excel significantly, like many stocks gracing this list and to which none have dipped since as their share prices keep steadily increasing. When you compare CMG’s share price to 27th March 2020 at $635.03, you can see that this stock has more than doubled in its price today.
Despite the impressive figures, the company's strategic plans of archiving and delivering further growth is clearly on the cards, as they look to open new stores across the US and potentially internationally with a clear drive to keep pushing on digital sales due to its popularity. But this may bring elements of doubts to investors after the post-pandemic as to if the digital sales can still be achievable as to what it is currently achieving.
In the modern world we are striving towards, with the likes of fast-food chains being more popular than ever before, this is one fast-food stock that we believe will excel for years to come, which is why investing in this stock for the long run can potentially get you to the six-figure sum.
8. Teladoc Health (TDOC)
52-week range:$102.01 - $294.74
Teladoc Health Inc, the American multinational telemedicine and virtual healthcare company that is not only showing brilliant results, but its creative forward-thinking plans are leading the way forward and along with it is set to bring more great returns.
The health brand prides itself on not only delivering the basic primary services to its clients but it also looks into the future with its licensable platform services to which offer clients on-demand remote medical care via telephone, videoconferencing software and mobile applications. These services are just not just available to US citizens, in fact TDOC is active in over 130 countries and data has confirmed that in 2019 it served around 27 million clients worldwide.
The brand has gone from one to another gaining strength through acquiring top businesses such as BetterHelp and Best Doctors, to more recently in 2020 TDOC acquired InTouch Health and has completed its merger with Livongo Health in a deal worth $18.5 billion. Realistically, it will be a matter of time before this healthcare stock looks to acquire more to its growing business.
Since 2015 this stock has put its firm plans in motion, to cut costs in certain areas, to then lead to build up its plans and in establishing its unique remote services, and in light of the Covid-19 pandemic, it was the right fit for the right time for this brand as individuals was and are currently able to seek professional medical advice from the comfort of their own homes.
This unique service adds a huge additional positive outlook for this stock being one set to make you wealthy in the long-term, as this avenue will no doubt be in demand post-Covid-19.
In the company's third-quarter results the company exceeded expectations across many levels. Year-over-year Q3 revenue grew to $288.8 million up by 109% with total member visits increased to $2.8 million up 206% within Q3. Looking at the bigger image within the last nine months the company's revenue grew by 79% to $710.6 million with total member visits increased to 7.6 million year-over-year.
Looking to the future, Teladoc’s revenue has been forecasted to grow at an impressive rate of 75.95% per year with 15 out of 23 Wall Street analysts giving this stock a recommended ‘Buy’ rating, alongside a grade A rating for Growth given by Zacks Investment Research.
The company's share price today stands at $285.03, which has already risen significantly from the start of the year as analysts confirmed that the company’s vision of organic growth is looking possible, which then led the company's price targets to be increased slightly given by various analysts covering the stock.
As Teladoc’s telehealth sector is soaring which has been spurred on due to the pandemic, it's leading this avenue to look to accelerate further organic growth which could potentially look at increasing by at least 40% over the coming years.
As the company's shares have increased by over 161% over the past year, this stock is not looking like it is slowing down anytime soon, rather the opposite to which leads this healthcare stock as a stock to keep hold of for the long-term as it looks to give fantastic returns a potentially become that millionaire maker.
9. Altimmune (ALT)
52-Week Range: $1.60 - $35.10
The last stock to grace the list of 9 stocks that could look to make you a millionaire, is the Altimmune Inc.
Altimmune Inc (ALT) is a biopharmaceutical company whose primary aim is to focus on intranasal vaccines, treatments for liver disease and modulating therapies.
Although this company is a smaller and quieter biopharmaceutical company in comparison to other companies on the market today, this stock is a stock you may wish to get familiar with and fast as its future potential could leave you sitting in a healthy and wealthy position down the line.
The company has a healthy pipeline looking ahead including vaccines for anthrax, hepatitis B, influenza and potentially one of the most in demand vaccines that could be the reason this stock excels quicker than predicted is proprietary intranasal vaccines for Covid-19.
The company's AdCOVID vaccine that is currently in the pipeline at present is a single dose shot as opposed to other vaccines currently on the market today that require individuals to have two doses for the full effects of the vaccine to be effective. This news is positive for a number of reasons aside from the clear obvious reasoning of it being in demand we are sure, but secondly with a single shot means that it's simpler and more doses can be given to more individuals which will also speed up the process of edging closer to normality.
How has Altimmune stock performed?
In the company's Q3 report, revenue was up to $2.9 million in comparison to $0.6 million in 2019 and $206.8 million in cash, cash equivalents and short term investments as of September 30th 2020.
The company also confirmed high expenses due to increased employee levels, administrative expenses and legal costs at $4.8 million, research and development expenses were also up by $17 million in comparison to $8.7 million in 2019 due to various liabilities associated with the company's vaccine creations.
As it stands today the company's share price is at $18.36 and holds a 52-week range of between $1.60 at its lowest and $35.10 at its highest, which makes now a good time to look at investing in this stock.
Even though this company is deemed to be a small-cap stock as it holds a market capitalisation of just $681.94 million, which also means that this stock does pose more risk elements in comparison to other pharmaceutical companies. However, this stock has soared in 2020 by an impressive rate.
For this stock to look at making you that six-figure sum, realistically you will have to invest a good amount and for the long-term, but it is achievable. In fact, this stock could be a stock that can hit that mark closer than you think, especially if the companies' vaccine AdCOVID meets all FDA’s approvals and becomes available on the open market within the coming year, this will be one stock that investors wished they had looked at the right time.
Millionaire-Maker Stocks for 2023 - Summary
So here you have a list of our chosen 9 stocks taken across from various industries that have the footings set in place to potentially reward investors with six-figure earnings, if you buy at the right price as these stocks continue their growing success stories.
Taking into consideration each of these chosen stocks bright positives, including looking at certain financial elements before choosing to invest in one of these ‘millionaire-maker’ stocks, including looking at a company’s forward P/E ratio as this will give you a good indication of a company’s growth prospect along with giving you a clear indication if a stock is deemed to be over or undervalued.
Alongside taking into consideration the company’s strategies and a stocks market cap, these two elements will give you another clear indication of where the company aims to move as we progress into the future, along with its room for growth.
It is wise to bear in mind that although these stocks have excelled during such a challenging year like 2020, they do however still pose their own risk elements. Which is why we strongly advise and are wise to conduct additional research before investing in your chosen stocks.