The last decade had several stocks that have been thriving. But now that we entered a new decade, you might start wondering what expectations you should have from it. In the past 10 years, there were high expectations for stocks that ended up being a letdown. On the other hand, there were also different companies like Target (NYSE:TGT) or Apple (NASDAQ:AAPL) that were successful.
Now, everyone is looking forward to what this new decade has to bring in terms of stocks, so investors can see their options. Below are 6 stocks that might skyrocket in this decade.
Astro Aerospace (NASDAQ:ASDND)
On top of our list is Astro Aerospace, one of the companies that investors have their eyes on and might actually be successful in the next 10 years. Investors are likely to be interested in this stock as it gives people something they need, especially after a pandemic where they were locked in their houses for so long. Astro Aerospace designs aircraft, and not the ordinary kind you’re used to. Instead, they worked hard to bring eVTOL vehicles to light.
Using advanced technology, Astro Aerospace provides services for passengers, tourism, med-evac, agriculture, and eVTOL rescue operations. People will want to connect with other people or places as soon as they can, and Astro gives them exactly that. Passengers can fly directly to where they need by rising above traffic and flying to their destination. Thus, the vehicles embody the expectations people have for the Modern Age.
The ASDND stock might 20x in 10 years, and investors want to be present for that.
Shopify (TSX:SHOP) (NYSE:SHOP)
Shopify has amazing revenue and incredible performance. With so many people shopping online, it’s not surprising to see this company thriving, particularly when you look at the restrictions the pandemic brought to the table.
The stock price is more than 30x what it used to be five years ago. As such, there are high chances that the price will boost even more in the following 10 years, getting 20x higher or even more.
The platform partners with Walmart and Facebook, and it can be a great competitor for Amazon. Through their operations, the total revenue was up 47% to $470 million.
Real Matters Inc. (TSX:REAL)
Real Matters doesn’t look like the stock you might want to invest in at the moment, but it could be successful in the next decade. They switched gears to refinancing transactions, so the prediction is that there will be revenue growth of 44%, as well as 117% earnings growth.
Real Matters helps with technology and network management solutions to mortgage lenders, especially lenders experiencing hardship due to the pandemic. They can deal with any mortgage-related issue no matter what, so it’s not a surprise that they might grow in this decade. The stock has a super five-year price-to-earnings-growth ratio of 0.63, meaning you might see this number getting even higher in the following 10 years.
Lightspeed POS (TSX:LSPD)
Lightspeed POS (TSX:LSPD) is a tech stock. With the demand for technology solutions being at an all-time high, the LSPD stock might experience some amazing growth in the next 10 years. After all, most people nowadays use technology in one way or another, so the tech solutions needed are also boosting.
Now, it’s important to note that the pandemic had quite a negative effect on Lightspeed POS. They hit their target market in the restaurant and retail industries, and they had a lot to lose. But the economy is starting to slowly get back on its feet, meaning that Lightspeed POS will once again be glorious. As things open again, the stock will also skyrocket.
Not to mention that last year, Lightspeed POS partnered with Ivanhoe Cambridge, which is one of the biggest asset companies in the U.S. Ivanhoe Cambridge tenants would get free access to the Lightspeed integrated, omnichannel sales solution for one year. Therefore, Lightspeed’s growth plans might actually be boosted through this deal. The company’s revenue might get to a 50% clip during the next few years. So, it’s a long-term investment that should be taken into consideration.
Enghouse Systems (TSX:ENGH)
Investors should be looking forward to this stock given it was up 125% over the past year or so. It’s a $4 billion company that is known to develop enterprise-level software. Of course, individual consumers knowingly interact with computers and software all the time.
However, think about the fact that people have been working from home for the past year, at least a good part of the workforce. Because of this, Enghouse Systems has seen a big demand increase for its services, especially given it offers a lot of software solutions for visual computing, remote work, and telecommunications networks. They also acquired Vidyo, a software company that offers visual communication products to telemedicine clients.
So, there is no reason why this stock cannot grow in the next 10 years. In fact, it might go places with the amount of success it will potentially get. With how many people are working from home because of the pandemic, the company might go strong for a long time, giving investors a nice stock to consider.
Cargojet (TSX:CJT)
Cargojet is one of the stocks that people have hope in, particularly in the aviation sector. It had a wonderful performance for a long time, and the stock was up 55% in 2020. In five years, it was also able to generate a return of about 517%, which is quite impressive. There is a lot of demand for domestic and international air cargo, so it’s not shocking to see it thriving in the following years. The growth is boosted even more by the increase in charter and ACMI activities.
As such, investors should not ignore this stock because it might bring some nice surprises.
Final Thoughts
Investors should know what to look forward to in the next decade so that they can prepare their investment plans. These stocks have great potential to be successful, so you should analyze them and see if they’re appropriate for your strategy.
