It isn’t uncommon for new investors to want to start investing with a smaller amount of money. This allows them to get their feet wet while learning how everything works. For those that have been investing longer, but just don’t have a lot of free cash to invest, smaller investments may make sense as well. Regardless of your reason for not wanting to dump a fortune into the stock market, there are still excellent opportunities out there. In this article, I discuss three stocks that can double your money.
The world is becoming more digital
The digitization of everyday life is the simplest way to explain how the world is moving. From online shopping to business operations, the world is relying on technological developments now more than ever. This makes Docebo (TSX:DCBO)(NASDAQ:DCBO) an excellent investment for the future. The company provides a cloud-based, AI-powered eLearning platform for enterprises. Using its software, training managers can more efficiently assign, monitor, and modify training activities.
Docebo stock has had a rough year, falling about 35% since the start of 2021. However, it is still trading more than 380% higher than it was just one year ago. Since its IPO in October 2019, the stock is up nearly 300%. Docebo has managed to land partnerships with Salesforce and Amazon in recent years, which speaks to the quality of service the company offers. The stock is certainly being punished after mind-blowing returns last year, but the future is bright.
If you already have an e-commerce position, consider this company
For those that are familiar with my writing, e-commerce is the one industry that I am the most bullish on. However, there is another closely related industry that should thrive alongside the growth of online shopping. That is the digital payments industry. Companies like Nuvei (TSX:NVEI) allow consumers to make purchases from anywhere at any time. Today, Nuvei serves customers in more than 200 global markets and accepting 450 methods of payment.
Nuvei differentiates itself from its competitors in that it also offers in-store, mobile, and unattended payment options in addition to its online services. Making headlines as the largest tech IPO in Canadian history, Nuvei has been under the spotlight since entering the public markets. Trading flat since the start of the year, Nuvei stock is up 1.9% year to date. With digital payment companies poised to grow over the next few years, this is one company that should land in your portfolio.
This company recently made a game-changing announcement
The Canadian rail industry is dominated by two companies. Of these, I believe Canadian Pacific Railway (TSX:CP)(NYSE:CP) provides the most intriguing investment proposition for the coming years. In August 2020, the company announced that it had acquired the Central Maine and Quebec railway, allowing Canadian Pacific to return to the Atlantic region.
Over the weekend, the company announced that it would be acquiring Kansas City Southern. This will create the first rail network that connects Canada, the United States, and Mexico. Year to date, Canadian Pacific has gained about 2%. Over the past five years, it has generated more than 160% in returns. The company is prioritizing growth and should see its stock price appreciate over the coming years.
