In order to turn $50,000 into $1 million by investing, you have to find stocks that the Street is underestimating. Of course, to achieve that tremendous feat, investors also have to choose companies that can grow tremendously by exploiting strong trends. And, in most cases, you’ll have to wait a very long time for these firms to expand enough to boost their stocks by 20 times. Indeed, you’ll probably need at least ten years without any major geopolitical, political or economic crises. Despite all of those points, it’s still possible to turn $20,000 into $1 million. Here are three potential millionaire-maker stocks for long-term investors to buy.
Rivian (RIVN)
Given the popularity of Rivian’s (NASDAQ:RIVN) electric vehicles with both businesses and consumers, I believe that this electric-vehicle maker can easily become the next Tesla (NASDAQ:TSLA). As a result, it clearly has the potential to join the ranks of millionaire-maker stocks.
As of Feb. 8, Rivian’s market capitalization was about $15 billion, while Tesla’s market capitalization was about $600 billion. If you do the math, it’s obvious that, if Rivian does indeed become the next Tesla, it will mint many millionaires who were smart enough to hold onto RIVN stock through the lean years.
There are many other reasons to be bullish about RIVN these days. One such point is the automaker’s statement that it is poised to start generating positive gross margins by the end of this year. That guidance shows that the firm is indeed on the road to profitability.
Plug Power (PLUG)
Plug Power (NASDAQ:PLUG) continues to make progress towards becoming one of the world’s largest suppliers of green hydrogen. And because many companies and countries are intent on using green hydrogen to lower their carbon emissions, PLUG stock is poised to soar tremendously as the firm generates the supply needed to meet that demand.
Indeed, Walmart (NYSE:WMT) has already agreed to buy up to 20 tons per day of liquid green hydrogen from PLUG. Meanwhile, Amazon (NASDAQ:AMZN) has agreed to buy nearly 11 thousand tons per year of liquid green hydrogen.
And by recently kicking off the large-scale production of liquified green hydrogen at two of its U.S. plants, Plug has shown that it can indeed produce the supply to meet the demand from Amazon, Walmart and many other firms.
Also noteworthy is that at least two of PLUG’s joint ventures look poised to bear fruit this year and in 2025. First, over the next 18 months, in tandem with South Korean industrial giant SK, Plug expects to start providing fuel for about 800 buses in South Korea. And PLUG CEO Andy Marsh recently reported that HVIA, its joint venture with European automaker Renault, has aggressive new plans for deployments.
Eisai (ESAIY)
Japanese drug maker Eisai (OTC:ESAIY) reported in December that 76% of Alzheimer’s patient who received an under-the-skin or subcutaneous version of its Alzheimer’s treatment showed no cognitive decline over 18 months. And 60% showed improvement at 18 months. Eisai is partnering with Biogen (NASDAQ:BIIB) on the drug.
I’m not an expert on Alzheimer’s or even pharma stocks. But completely stopping the downward progression of three quarters of Alzheimer’s patients and improving the cognitive functions of over half the patients clearly sounds like a huge breakthrough to me. After all, no treatment for the disease has previously produced any significant improvement in patients. Yet the market capitalization ESAIY stock is a rather paltry $12.5 billion.
Once the company spreads the word to neurologists about the huge benefits of its drug and convinces most of them to start prescribing, its revenue will go through the roof, taking ESAIY stock in the same direction. Making it one of the best millionaire-maker stocks on offer.
On the date of publication, Larry Ramer held long positions in RIVN, PLUG, and EISAI and his wife held a long position in BIIB. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
