These 3 Stocks Have Doubled Over the Last 2 Years. Can They Do It Again?
There's always a bit of luck involved when it comes to investing. No one could have foreseen the pandemic back in 2019, but it has turned out to be a strong growth catalyst for a bunch of companies. As the virus spread across the world in early 2020, countries shut off their borders, air travel was curtailed, and movement restrictions were imposed.
As a result, many people shifted online to telecommute, stay in touch with loved ones, and transact as well. The surge in people going online led to a boom for technology, e-commerce, and cloud computing stocks. Revenue and net income soared for such businesses as demand exploded for smartphones, digital devices, and cloud software. Companies that provided such products and services rode the wave of digitalization, and many of them reported stellar earnings.
Their share prices have also climbed significantly in tandem with these improvements. Here are three stocks that have doubled in the past two years, but the question is whether they can repeat that performance moving forward. Let's find out.
Source Fool.com
