One of the best things about writing for a website like The Motley Fool is that I get to keep a public record of all the stocks I cover. There are times when I look back at some of the stocks I have suggested investors consider for their portfolios, only to be surprised by a company’s performance.
Today is one of times, and I am more than pleased with how these two companies have fared since I first covered them. In this article, I will discuss two companies that would have rewarded investors greatly had they decided to add these companies to their portfolios.
You can bet this is only the beginning On June 15, I’d included Score Media and Gaming (TSXV:SCR) as one of the companies investors should considering buying during the summer. At this time, the company was trading below $0.80 per share. In early March, the COVID-19 pandemic caused all professional sports leagues to shut down operations. In my original article covering Score Media, I’d mentioned that the return of major sports leagues could be a large catalyst for this stock moving forward.
Six months later, Score Media is trading at $1.69 at the time of this writing. That is good enough for a gain of nearly 120%! It is uncertain how much of this is gain is, in fact, occurring as a result of pent-up activity stemming from the shutdowns. However, one thing that is certain is that the online betting market will only continue to grow in the coming years. The market is forecasted to grow to a size of US$127.3 billion by 2027. This represents a compound annual growth rate of 11.5% over the next seven years.
Score Media is still a relatively small company; it currently has a market cap of $696 million. However, it does stand as a market leader within Canada. With a quickly growing market, and few competitors to stand in its way, there is a good chance Score Media stock will continue to reward investors over the coming years.
One of the top growth stocks in Canada There are a handful of companies that I have mentioned time and time again on The Motley Fool. Of these, Lightspeed (TSX:LSPD)(NYSE:LSPD) has certainly been one of the most featured companies in my articles. I believe the company has a tremendous growth runway ahead of it.
I first featured the company on June 3. Lightspeed was still trading about 25% below its highest levels in 2020 up to that point. However, the growth story was too interesting to ignore. Lightspeed is a quickly growing Software-as-a-Service provider for small- and medium-sized businesses. Its platform includes features such as point of sale, omni-channel engagement, loyalty management, and much more.
Since my first article covering the company was published, Lightspeed stock has melted upward. Eerily similar to Score Media, Lightspeed stock has gained about 120% over the past six months. Trading at more than $77 per share, Lightspeed’s market cap now stands at $7.36 billion.
Still a smaller company, when compared to competitors like Square (NYSE:SQ), Lightspeed may continue to grow at a rapid pace over the coming years. Its entry into the American markets has also allowed large firms to buy shares of this company.
Foolish takeaway Although investors should do as much research into a company as possible, how those companies do in the short term is very unpredictable. In the cases of Score Media and Lightspeed, I was sure that these companies would become a lot more valuable in the future. Never did I expect both companies to gain more than 100% in six months time.
I believe both companies operate in industries that have a lot more room to grow. If you have ignored these stocks previously, now may be the time to consider looking into them.
The post These 2 Stocks Have Gained More Than 100% in the Past 6 Months appeared first on The Motley Fool Canada.
Fool contributor Jed Lloren has no position in any of the stocks mentioned. Tom Gardner owns shares of Square. The Motley Fool owns shares of and recommends Square. The Motley Fool owns shares of Lightspeed POS Inc.
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