Canadian Investors: 5 Stocks Set To Double In Next 6 To 10 Months

Source: SOMKID THONGDEE, Shutterstock

Canadian stocks markets recently emerged from the deep crevices created due to the pandemic. But a massive wave fresh covid cases can easily derail the progress made in the last six months.

With the resurgence of coronavirus cases and renewed lockdowns across provinces like Ontario and Quebec, investors’ sentiments are once again shifting towards industries such as software, electric vehicles, cannabis, etc. Gold stocks could also witness a rebound in the upcoming months.

Hedge fund managers also exploring the so-called ‘digital gold’ – bitcoin as Canada’s COVID-19 curve rises,

Here are five stock from Canadian stock exchanges that might double in the next 6 to 10 months:

1. Extreme Vehicle Battery Technologies Corp. (CSE: ACDC)

The Vancouver-based EV battery system developer has started focusing on the recreational vehicle market that has helped its stock growing almost 867 per cent in 2021.

It has returned a staggering 4,250 per cent in the past one year, led by the rising green vehicle demand.

The stock is down 54.21 per cent from its 52-week high of C$ 0.95 per piece (Recorded on February 9, 2021). At its current price of C$ 0.4350 (around 11 am ET on April 6), the stock is up 1,350 per cent against its 52-week low of 0.0300 per share (Plunged on December 30, 2020).

2. B2Gold Corp. (TSX:BTO)

Gold stocks might rebound to their all-time high as coronavirus fears mount. This gold miner stock is down as much as 43 per cent from its 52-week high of C$ 9.99.

The stock is up 5.27 per cent month-to-date (MTD). And its last one week returns stand at over 7 per cent. It also offered a dividend of US$ 0.04 per share for the first fiscal quarter of 2021.

B2Gold produced 17 per cent more gold in 2020, as compared to 2019. Its consolidated annual revenues soared to record 1.79 billion in 2020 against, up C$ 0.63 billion from 2019.

3. Bitfarms Ltd. (TSXV:BITF)

This firm offers its services to the crypto platforms that operate in Bitcoin, Ripple, Ethereum, Litecoin, etc. The current stock price is C$ 6.50, and its market cap is C$ 942 million.

From government digital platforms to private digital currencies, blockchain technology has been going viral.

Bitfarm stock is up more than 169 per cent this year. Its share price has zoomed over 1,500 per cent in the last one year. The stock has regained by over 2,303 per cent from its 52-week low of C$ 0.2800 per common share. However, it is down by 28 per cent against its record high of C$ 9.34 per piece (Registered on February 22, 2021).  

Almost a month ago, the company announced that it is boosting its crypto mining operations. Following the development, the stock gained over 18 per cent.

Image Source: Kalkine Group @2021

4. Numinus Wellness Inc. (TSXV:NUMI)

This health and wellness company actively engages in the research and development of cannabis and psychedelic-based drugs to cure mental illness. 

Its current stock price is C$ 1.03, and its market capitalization is C$ 212.77 million.

The stock has increased by almost 173 per cent in one year. However, it has fallen nearly 58 per cent from its 52-week high of C$ 2.45 per common share (on December 15, 2020).

With the psychedelic industry at the brink of take-off, this stock could deliver three-digit growth this year.

5. Lightspeed POS Inc. (TSX:LSPD)

Lightspeed is a growth stock, if you ask us.

The software company has been expanding its footprints across the globe. It recently announced that its digital payment platforms will serve its retail and hospitality clients in the UK. The company will also increase its reach among merchants in Europe, including Germany, France, Belgium, etc.

The tech stock has zoomed by more than 381 per cent in one year. However, it plummeted almost 23 per cent from its record high of C$ 104.98 per share due to the recent the tech sector’s market correction.

Amid rising digital payment habits, this stock might repeat its last year’s bull run in the upcoming months.

The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view.