Finding stocks with the potential to triple in 12 months isn’t easy, but there are several candidates primed to explode next year. All of these companies come with heavy risk, but that’s the price you pay for the opportunity to triple your money.

In fact, some of the following stock picks could quadruple in the year ahead. Just be cautious and size your bets accordingly. These are home run opportunities, and you don’t need many of them to make a meaningful difference in your financial life.

If you want exposure to huge upside in 2020, here are your best options.

Go to space

In August, I called Maxar Technologies Ltd. (TSX:MAXR)(NYSE:MAXR) the “riskiest stock you can buy today.” The risks are clear. The company faces allegations about poor accounting, daunting debt levels, and a customer delivery issue.

Over the last 12 months, Maxar shares are down 80%. It’s difficult to discount the importance of these hurdles, but if management can reassure investors of Maxar’s long-term potential, the stock could reverse course rapidly.

Maxar creates space equipment, stuff like satellites and imaging software. This is a highly specialized industry with steep barriers to entry.

Reputation is everything, as a single flaw can torpedo a multi-billion dollar project. Last year, a short-seller revealed its belief that Maxar was essentially cooking the books to overstate its financial performance. Management has denied these claims, but the stock sank heavily regardless.

Customers, meanwhile, remain unfazed. In recent months, Maxar has closed deals with multiple government agencies and private operators.

On September 10, JPMorgan Chase & Co. recommended buying shares, setting a price target at $12 that implied 70% upside. If the accounting issues are settled, the upside should be far greater.

Cannabis rebound

Green Organic Dutchman Holdings Ltd (TSX:TGOD) has been left for dead. In September 4, cannabis behemoth Aurora Cannabis Inc completely sold its stake in Green Organic, apart from some outstanding warrants.

Aurora also cancelled its option to buy 20% of Green Organic’s cannabis production. For many, this was the nail in the coffin for this beleaguered pot stock. Over the last 12 months, TGOD stock has shed more than 70% of its value.

Here’s the thing: Green Organic may be better positioned than ever before. Aurora’s deal would have been executed at wholesale prices.

Company executives even believe the agreement’s collapse “significantly improves TGOD’s revenue and gross margin mix due to the repatriation of TGOD’s premium organic cannabis previously earmarked for Aurora.”

So far the market has remained skeptical, but if Green Organic can secure new customers for its upcoming production ramp, expect the valuation to change quickly. If TGOD shares end up trading at Aurora’s valuation multiples, there could be 300% upside.

Beleaguered brand

Canada Goose Holdings Inc (TSX:GOOS)(NYSE:GOOS) is one of the most heavily-traded growth stocks on the TSX. The company owns multiple well-known, high-end brands that are coveted the world over.

In fact, while Canada Goose is most popular in its home country outside of Canada, its highest sales growth is experienced abroad in places like China and Japan.

This fiscal year, Canada Goose is expected to earn $1.68 per share, which means the stock trades at 35 times earnings. Next year, EPS is expected to rise to $1.62, meaning shares trade at a measly 26 times forward earnings.

For a $6 billion company compounding earnings at 30% per year, the current valuation is a steal. The stock already has nearly 100% upside simply by reverting to its previous valuation multiples.

The path to 300% growth is harder for Canada Goose than any other stock on this list, but it’s a possibility if the trade war between China and the U.S. is resolved quickly. China is the world’s largest luxury market, and the current climate has hindered expectations for Canada Goose’s growth abroad.

Re-establishing the China story is the company’s clearest path towards regaining shareholder confidence. If there’s pent-up demand in China for luxury products like Canada Goose apparel, sales growth in 2020 could far surpass consensus estimates, propelling the stock considerably higher.

You might be missing out on one of the biggest opportunities in Canadian investing history…

Marijuana was legalized across Canada on October 17th, and a little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

Besides making key partnerships with Facebook and Amazon, they’ve just made a game-changing deal with the Ontario government.

This is the company we think you should strongly consider having in your portfolio if you want to position yourself wisely for the coming marijuana boom.


Learn More About This TSX Stock Now

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Fool contributor Ryan Vanzo has no position in any stocks mentioned. Maxar Technologies is a recommendation of Stock Advisor Canada.



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