5 Small-Cap Growth Stocks That Could Double in 2020
During the last few years, if investors were looking to put a little play money into a stock with high-growth potential, most of them turned to pot stocks.
While this strategy worked for a while, the buzz around the industry eventually wore off and investors looking for high-growth stocks have had to look elsewhere.
Luckily for investors, there’s no shortage of small-cap growth companies that are up-and-coming businesses with huge potential.
These companies have solid momentum and are growing their businesses rapidly, so there’s a high possibility some or all could double in price by the end of the year.
So without further ado, these are the top five small-cap Canadian growth stocks to own in 2020.
WELL Health Technologies
WELL Health Technologies Corp is a health care company with a digital electronic records business as well as a portfolio of its own health care facilities.
The facilities help the company to earn cash flow while it invests money in R&D to develop and update its software and digital services.
The company has been growing rapidly through both acquisition and organically, signing up a number of doctors for its services.
The company is now transitioning to rely more on organic growth, so as its services begin to catch on faster, the stock could be in for a big rally.
Score Media and Gaming
Score Media and Gaming Inc has long been a company offering athletics fans the go-to app for all sporting information.
It’s built a major platform of loyal app users that regularly grow in numbers form quarter to quarter. Score has used this massive footprint to leverage its entrance into the mobile sports betting industry in the United States.
There is a huge runway for growth in the industry and Score is just getting started, so look for it to go on a big run as its new business continues its roll out.
Questor Technology
Questor Technology Inc is a clean tech company that helps energy companies to reduce the harmful greenhouse gasses they omit into the environment.
Through its high-quality technology, the company’s products combust waste gasses to reduce 99.99% of harmful air pollutants and carcinogenic compounds.
It then uses the hot waste gasses for things such as power generation or heat to help its customers use their clean waste gasses to help reduce costs.
As the world becomes more environmentally cautious and new legislation brings more regulation to the industry, look for Questor’s services to become extremely popular and its stock to go on a huge run.
Drone Delivery Canada Corp
Drone Delivery Canada Corp is a small-cap technology company focused on bringing drone delivery to market as a commercial service. The company has been operating since 2014, refining its technology and all the other parameters that it needs to sort out before launching.
It’s partnered with strategic groups to run pilot project tests to help it to better understand what needs to be refined.
Drone delivery has the ability to be used in a number of industries, from medical first response services, roadside assistance or bulk mail deliveries, so look for the stock to pop when it finally launches commercially.
Patriot One Technologies
The final company on the list is Patriot One Technologies Inc, a security company developing high-tech systems to aid in threat detection.
It has a number of sensors and software that can be layered and combined to provide the ultimate protection for whatever location or venue it may be used in.
Its technology has the ability to detect items such as concealed weapons, explosives as well as number of other dangerous threats through its multiple high-tech products.
The world is ready for these new and high-tech security devices, so as sales begin to takeoff watch for the stock to follow.
Bottom line
Each of these companies has the ability to grow investors’ income rapidly, as they all have some type of cutting-edge technology and are all small enough companies that they could realistically see a big jump to the upside.
Investors will want to grab exposure as soon as possible or risk missing out on these major growth opportunities.
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Fool contributor Daniel Da Costa has no position in any of the stocks mentioned. The Motley Fool owns shares of Questor Technology Inc.
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