Got $3,000? Here Are 3 Stocks That Could Double Your Money — and Sooner Than You Might Think

There’s a certain satisfaction that happens when a stock doubles, giving investors confirmation that their hard work in finding the right stock has produced results. Yet it can be difficult to find those elusive double-baggers, unless, of course, you know where to look.

There are a number of criteria investors can use to gauge the potential that a stock can double. A company with groundbreaking healthcare technology, one tapping the tailwinds of changing consumer behavior, or one that provides easy and effective remote workplace tools might all be a good place to start. Another potential indicator can be a stock that has already doubled investors’ money, with no signs of slowing.

Here are three stocks that meet one of the aforementioned criteria, while also having doubled — or more — over the past three years.

1. Guardant Health: a groundbreaking approach to cancer detection

As anyone who has ever been in the position can attest, one of the most terrifying diagnoses any patient can receive is to be told he or she has cancer. The key to survival in many cases has been early detection and treatment.

Guardant Health‘s (NASDAQ:GH) revolutionary liquid biopsy can detect cancer cells with a simple blood test that can recognize the DNA and RNA fragments shed by cancerous tumors. The results also help providers choose the most effective course of treatment. Guardant Health is currently developing next-generation tests that could detect cancer even sooner.

During 2019, Guardant Health grew revenue by a massive 137% year over year, though the company had yet to generate a profit. The impressive growth continued into early 2020, with first-quarter revenue up 84%. 

However, as the pandemic struck, patients began foregoing all but the most critical visits to the doctor’s office or hospital, resulting in a significant decline in testing. This led to second-quarter revenue that grew just 23%, though management noted it has seen a recovery to pre-pandemic levels, which bodes well for the coming quarters. 

Even in the face of challenges wrought by the pandemic, its vast potential for growth remains. Guardant Health estimates it has a market opportunity of more than $50 billion — and that’s in the U.S. alone. For context, Guardant Health generated revenue of just $214 million for all of 2019, which illustrates the massive opportunity that lies ahead. 

It’s important to note that Guardant Health currently trades at more than 34 times forward sales, but investors have been willing to give its valuation a pass, likely due to the groundbreaking nature of its¬†healthcare¬†technology. With an opportunity of this magnitude, a double from here seems almost inevitable.

2. Roku: the streaming pioneer remains the leader

Roku (NASDAQ:ROKU) pioneered the set-top streaming box, but has quickly evolved into much more. The company’s secret weapon is the connected-TV operating system (OS) it built from the ground up, unlike rival offerings that merely repurposed existing mobile apps. These made Roku the solution of choice for many smart TV manufacturers that license the Roku OS, rather than reinventing the wheel. In fact, Roku is the No. 1 selling smart TV OS in North America, accounting for 1-in-3 smart TVs sold in the U.S. and 1-in-4 in Canada in 2019. 

While the company makes very little from the licensing deals themselves, the move has…

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