Forget Pot Stocks: Buy These 2 Growth Companies Today
Over the last few years, for any investor that had a little play money and wanted to try and find a stock that would increase rapidly in a short period of time, pot stocks were your best bet.
Now that the industry has been established and reality has set in, pot stocks present a quality long-term opportunity, but if you are looking for a short-term, super-growth stock, you’ll have to look elsewhere.
There are a number of companies that seem like they could be the next great thing, but few make it. This is why the stocks offer such great value in the first place, because the risk is generally a lot higher than other companies you can buy.
You can mitigate that risk by making sure the company you invest in has all the fundamentals and tools to be successful, and when you do find a winner, the profits can be substantial.
Two of the top growth opportunities today, that have the best potential of being the next big thing, are Score Media and Gaming (TSXV:SCR) and Drone Delivery Canada (TSXV:FLT).
Score
Score Media and Gaming is an exciting opportunity, taking advantage of the newly legal sports gambling industry in a number of U.S. states.
This isn’t just a simple start-up creating a company and going into the States. Score Media and Gaming has long had one of the top sports news apps in the world with it’s The Score sports app. This puts it in a unique position of being an established media company that’s decided to diversify into the sports betting industry.
It continues to grow in popularity and, most recently, had nearly 275 million average monthly sessions in the last quarter, with each average user opening the app 75 times a month.
Score has leveraged this major platform of customers it has and is using it to drive synergies with the sports betting industry.
In addition, it’s also expanded its media business to find newer and creative ways to acquire more users.
Gambling is an industry that’s stood the test of time, and now that you can bet on sports, also a growing segment of the entertainment industry, an investment in Score offers investors an extremely exciting opportunity.
The stock had a major jump in 2019 and is up more than 175% in the last 12 months, but that’s just the tip of the iceberg, and, with Score’s massive customer reach, it could easily grow to be multiple times the size.
Drone Delivery
Drone Delivery Canada is an early-stage drone company that has been working to build technology that can be cost effective and offer a variety of crucial services.
It’s partnered with a few different groups to conduct pilot projects and tests and to acquire as much data as possible, so it can continue to optimize and tweak a number of factors it needs to finalize.
This way, it can continue to develop the services, logistics, and all the other variables before it launches commercially.
A lot of work needs to be done to prove the concept of each service it wants to try and develop, prove its safety, and make sure the operations can be scaled, but Drone Delivery Canada has been addressing all these concerns for six years now.
The company believes its services can be used in a number of different industries, ranging from food and grocery delivery to emergency roadside assistance. It even believes it could be used for handling bulk mail shipments or in the healthcare industry, carrying things like defibrillators.
Drone delivery is the industry of the future, and as far as the technology is concerned, the sky is the limit, and Drone Delivery Canada is getting closer to being ready for commercial launch, so getting some exposure today could prove to be very rewarding.
Bottom line
If you are looking for the type of high-growth stock similar to those of pot stocks over the last five years, these are your two best bets.
Their business operations and growth in their industries are combining to offer investors a major opportunity.
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Fool contributor Daniel Da Costa has no position in any of the stocks mentioned.
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