For investors who are trying to double their money there are some obvious paths: Penny stocks and cryptocurrency immediately come to mind. And there’s also the risky world of options to consider as well. 

But outside of those, where can investors look to double their money in 2021 through good old price appreciation? There are actually lots of stocks well above penny stock prices which don’t require options trading strategies that can simply double in value. 

The title of this article also implies that this can be done in roughly half a year’s time. This is, of course, no easy feat. However, it is an achievable one.

Let’s take a look at seven stocks with reasonable shots at doubling in 2021 with a simple buy-and-hold strategy. 

• Crocs (NASDAQ:CROX)
• Teladoc Health (NYSE:TDOC)
• Schrodinger (NASDAQ:SDGR)
• Ocugen (NASDAQ:OCGN)
• Roblox (NYSE:RBLX)
• XPeng (NYSE:XPEV)
• NIO (NYSE:NIO)

Stocks to Buy: Crocs (CROX)

Whether you think Crocs are cool, ugly, ridiculous, overpriced or anything else, you have to admit it: They’re pretty popular. In fact there were 69 million pairs of Crocs sold in 2020 and the company witnessed 12.9% compound annual growth in revenue between 2018 and 2020. 

And CROX stock has certainly benefited from the popularity of being the most recognizable clog in the world. Prior to the pandemic, shares hit highs above $42. Since then they’ve already more than doubled and currently sit at $107. At the market depths of the pandemic shares even dropped to $10, meaning there’s likely somebody out there who has seen a near 1,000% return on CROX stock. 

All that is well and good, but it likely also leaves you wondering if there’s much growth left in Crocs. The answer is ‘yes’. The 10 analysts covering the equity give it an average target price of $127.78, and range as high as $160. Neither of those figures represent a doubling from current price levels, although both are attractive. 

But there’s also plenty of reason to believe that Crocs’ run is nowhere near its end. The Americas represented 62% of Crocs’ 2020 revenues while Asia accounted for 20%, and EMEA, 18%. There were only 18 retail outlets in China at that time, as opposed to 154 in the U.S. Further, Crocs saw 58% ecommerce growth during the same period.

Teladoc Health (TDOC)

Take one look at the price chart of Teladoc Health and it becomes clear why this stock could double your money in 2021. TDOC stock currently trades for $157, but it traded twice as high earlier this year. On Feb. 16 shares hit $308, about double where they stand today. 

Of course, you want to double your investment, not halve it. And it’s also very clear that the reason Teladoc dropped so precipitously is that the pandemic is winding down. But if you believe that the pandemic was the only reason Teladoc soared as high as it did, you’d be mistaken. True, the pandemic did accelerate the adoption of Teladoc and telemedicine broadly. But ask yourself this: Is telemedicine a service that’s likely to die as normalcy returns, or will it grow?

When investors consider Teladoc’s prospects from that perspective a few things become clear. One, the precipitous decline in share price was probably an overreaction. And two, now is probably a great time to establish a position in TDOC stock. It’s clear that shares hit an inflection point nearly a month ago when prices dipped to $132. Since then, share prices have risen quickly and stand at $157 now.

Schrodinger (SDGR)

Depending on your perspective, Schrodinger may be a buy-the-dip opportunity or simply a company that has failed to live up to the hype surrounding it. In either case, it’s clear that SDGR stock has the potential to move drastically, quickly. 

Between November and March, shares more than doubled, rising 135%. Then they dropped 43% overnight. That was when the software company that helps big pharma discover new compounds quicker released guidance that irked investors. Schrodinger announced at that time that it expected revenues between $124 million and $142 million for 2021. It was then that a significant number of investors decided to jump ship, quickly dropping prices. 

The issue was that SDGR stocks valuation was already stretched and to investors its 25% annual revenue growth didn’t justify such metrics. 

The kicker here for investors looking to double their money in 2021 is that Schrodinger does have multiple paths to rebound. Schrodinger isn’t solely playing in drug discovery which has notoriously high failure rates. It also collaborates with pharmaceutical companies in their discovery programs giving it potential revenues from drug sales, not simply pharma software revenues.

Further, its other successes in biotech and its software might prove effective in discovering commercial compounds in fields including LED lights and EV-battery electrolytes.

Ocugen (OCGN) 

Ocugen is by far the most inexpensive stock on this list. Shares currently trade for under $10 and it’s clear that they could quickly double. 

For months Ocugen has featured heavily in the press as it relates to the commercialization of yet to be authorized Covid-19 vaccine candidates. The Pennsylvania company has partnered with India’s Bharat Biotech in an attempt to commercialize its Covaxin vaccine stateside. Should Ocugen be successful in doing so, it stands to receive 45% of the proceeds from said sales. 

I’ve argued again and again against Ocugen’s likelihood of success in that endeavor. However, if I’m wrong, it’s very clear that the OCGN stock price will soar quickly. Shares have already peaked above $15 a piece twice this year. Should that happen again, that’d represent a 150% profit based on current prices. 

Further, Ocugen has recently expanded commercialization rights to Canada as well. This of course means that it could derive revenues in the U.S. and Canada. The agreement is principally similar to that which it signed for rights in the U.S. It stands to receive 45% of profits from commercial sales in Canada as well. 

Roblox (RBLX) 

Roblox is an online gaming application platform which allows users to explore nearly infinite user-created 3D digital worlds.

RBLX stock is a young equity which only began trading in early March. Since then it has appreciated in price by 33%, rising to $92. Not bad at all, but certainly not a doubling of investor capital. InvestorPlace’s Mark Hake believes that a doubling of share prices is entirely feasible by the end of 2021. 

Hake suggests that free cash flow levels at the company imply it may be fairly valued at current prices. He however also points out that user growth is exceeding previous forecasts: “kids are still spending a lot of time on the Roblox gaming platform. Moreover, the number of users is still growing. Last quarter it had 42.1 million daily active users (DAUs). This was up 79% year over year and well over the guidance of 39.6 million users.”

If Q1 user growth scales up throughout the remainder of 2021 he believes prices should eclipse $200 by the end of the year.

XPeng (XPEV) 

In the U.S., Tesla (NASDAQ:TSLA) is the most often cited EV company. In China, NIO grabs the lion’s share of headlines. After NIO, XPeng is perhaps the next most well-known Chinese EV producer. 

The narrative that drives a doubling of XPEV stock prices contains multiple catalysts. It’s about the growth of the Chinese EV market, XPeng’s ability to grow outside of China, deliveries and growth. 

In mid-May XPeng released Q1 financial results which point to a quickly growing EV manufacturer. Revenues grew by 616% from Q1 ‘20 to Q1 ‘21 at the company on the delivery of 13,340 vehicles. That figure represents an increase of 487% over the 2,271 vehicles it delivered in the first quarter of 2020. 

Importantly, XPeng was able to bring its vehicle margin, at 10.1%, into positive territory in the quarter. That figure was a negative 5.3% a year prior. 

Though there is plenty of positive momentum, there are still multiple areas for improvement. Net loss rose to $120.1 million. More broadly, market enthusiasm for EVs remains subdued relative to 2020 levels. 

Analyst price targets range as high as $70 for XPEV shares, not a doubling of current prices, but if the market heats up the possibility of a doubling is definitely there. The same is true for the last stock on this list.

NIO (NIO) 

There is a definite possibility that NIO shares double in the remainder of 2021. The high price target of Wall Street analysts covering the equity comes in at $92, more than double current $45 prices. 

NIO is very keen to let investors know how many vehicles it has delivered. It’s an important metric for assessing the trajectory of the company. To that end, the company delivered 6,711 vehicles in May, 95.3% more than a year before. NIO has delivered 109,514 of its vehicles thus far. 

Like XPeng, NIO is headed in the right direction but has hurdles to overcome. Revenues are increasing quickly, but the company still suffered a net loss of $68.8 million in the first quarter. A loss is a negative, yet that loss decreased by 67.5% from the previous quarter. 

If market sentiment around EVs shifts again, NIO stock could run up to $90 this year.

On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.