2 Revolutionary Stocks That Could Turn $1,000 Into $2,000 by 2030
The kind of stock whose value can double overnight is often also the kind that can become almost worthless about as quickly. So, investors shouldn't chase out such gains in a short period. However, solid, well-established corporations can safely see their share prices double in six years, a feat that requires a compound annual growth rate (CAGR) of 12.2%.
To be clear, that's not an easy thing to do. Still, here are two companies that could pull it off: Exact Sciences (NASDAQ: EXAS) and Airbnb (NASDAQ: ABNB). Let's consider why these two innovative businesses could turn $1,000 into $2,000 by the end of 2030.
Exact Sciences develops cancer diagnostic tests, and it's been on fire this year. Shares are up 24% since the beginning of 2023 on the back of solid financial results and meaningful clinical progress. Let's begin with Exact Sciences' third-quarter earnings. The company's revenue of $628.3 million increased by 20% year over year.
Source Fool.com
