Five Stocks That Could Double

2022 was an absolute disaster.

Inflation hit a 40-year high. Markets were crushed. Home sales began to fall at the fastest rate in decades. Retail sales dropped. The Federal Reserve got far too aggressive in fighting inflation. The Nasdaq had its worse year on record since 2008. Recession fears got worse. And now we’re learning that real disposable income dropped.

In fact, according to Fox Business, “The most troubling information in the GDP report is the precipitous drop in real disposable income, which fell over $1 trillion in 2022. For context, this is the second-largest percentage drop in real disposable income ever, behind only 1932, the worst year of the Great Depression.”

However, even with all of the doom and gloom, we’re still finding stocks that could double, if not triple over the next several months.

Lithium Americas (LAC)

Lithium Americas has become one of the most explosive lithium stocks on the market.  Since the start of 2023, the LAC stock jumped from a low of about $18 to $25.70, and could double from here, especially as it nears production at its Thacker Pass mine.

Helping, LAC just received a favorable ruling from the US District Court, District of Nevada for the issuance of the Record of Decision relating to the Company’s 100%-owned Thacker Pass project located in Humboldt Country, Nevada.

That ruling now confirms the permitting process for Thacker Pass was conducted thoroughly and responsibly, and results in there being no impediment to commencing construction. The Federal Court ordered the BLM to consider one issue under the mining law relating to the area designated for waste storage and tailings and did not impose any restrictions expected to impact the construction timeline.

Now, according to Jonathan Evans, President and CEO. “The favorable ruling leaves in place the final regulatory approval needed in moving Thacker Pass into construction.” This is substantial news, and could send shares of LAC even higher. Even better, once construction gets under way, the company could see substantial demand with the EV boom just getting underway.

C3.AI (AI)

By now, you’re familiar with the artificial intelligence (AI) boom.

What makes it even better is Grand View Research’s note that the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030.

Fueling the boom, OpenAI just released ChatGPT, a free chatbot that’s become wildly popular. For one, according to, “One of the primary reasons ChatGPT is disruptive is that it represents a significant advancement in the ability of AI systems to understand and generate human-like text.” Two, “it has the potential to revolutionize the way we interact with AI.”

Even the White House and European Union are jumping on the AI story.  In fact, both are working to develop new AI tools.  According to National Security Advisor Jake Sullivan:

“This collaborative effort will drive responsible advancements in AI to address major global challenges with a joint development model and integrated research to deliver benefits to our societies through five key areas of focus: Extreme Weather and Climate Forecasting, Emergency Response Management, Health and Medicine Improvements, Electric Grid Optimization, and Agriculture Optimization.”

One of the companies that could run on the AI story is C3.AI (AI).

Helping, the company just unveiled plans for C3 Generative AI for Enterprise Search, a new tool that will leverage software, such as ChatGPT to make it easier to find information on corporate information systems.

Also, D.A. Davidson analyst Gil Luria just initiated coverage of AI with a buy rating, with a $30 price target. “We believe that is a truly scarce asset in a critical software arena and that the emergence of generative AI as a ‘killer app’ for Artificial Intelligence provides with the opportunity to monetize its considerable investment and track record in the field of Artificial Intelligence,” as quoted by Barron’s.

Amazon (AMZN) 

Amazon was cut in half in 2022.  All thanks to the tech stock rout, soaring inflation, fed-up consumers, slowing sales, and rising interest rates.  Amazon’s market cap shrank from $1.7 trillion to $834 billion.  However, don’t write Amazon off just yet.  For one, macro conditions could cool off soon.  In fact, with inflation coming down, it could encourage the Federal Reserve to ease off raising interest rates. For companies like Amazon that could be a big green light.

We also have to consider that AMZN is dirt cheap, trading at just 2.2x sales. First, according to Investorplace, that’s below its five-year average of 3.4x and is the cheapest it’s been since 2015.  For AMZN, 2.2x is far too low.

Two, “Amazon’s online retail business will likely grow at a fairly steady 10% annualized clip over the next few years. The physical store business is good for about 5% growth per year. The ad business will likely grow around 20% per year, representative of market share expansion in a 10% to 15% growth industry. And the cloud business will likely grow around 25% per year, in line with market estimates for cloud spending growth. Altogether, this is a company with clear visibility to mid-teens revenue growth over the next five years,” they added.

Marathon Digital (MARA)

Marathon Digital is a tricky one that carries a good deal of risk.

That’s because its revenue depends on the direction of Bitcoin. Where Bitcoin travels, mining stocks like MARA are sure to follow.

Also, “The Fed and other central banks have been raising interest rates over the past year or so in an effort to tame soaring inflation, in moves that forced stocks and cryptocurrencies sharply lower in 2022. The hope now is that the U.S. central bank will cut rates, taking some pressure off risk assets,” says CNBC. That’s bullish for BTC, and for miners.

Helping, MARA just announced it produced 475 BTC in December, and a total of 1,562 BTC in Q4 2022.  It also produced 4,144 BTC in 2022, a 30% year over year jump.

“As we enter 2023, we remain confident in our ability to scale Marathon into one of the largest and most energy efficient Bitcoin mining operations globally. We have thousands of miners ready to be energized over the coming months, which we expect to more than triple our current production capacity to approximately 23 exa-hashes by mid-year,” said Fred Thiel, Marathon’s Chairman and CEO.

Tesla (TSLA)

After plummeting from about $325 to less than $100, Tesla is one of the top stocks that should be able to double, with patience.  For one, millions of electric vehicles are expected to hit the roads over the next decade.

Two, Tesla just reported EPS of $1.19, which beat by six cents. Three, soothing investor concerns, the company plans to produce about 1.8 million cars this year, up from about 1.37 million last year. And, CEO Elon Musk added that orders were outpacing production two to one.  Even Mizuho rates TSLA as a buy, with a price target of $252.

Plus, the U.S. Treasury Department just ignited the stock even more.

The government agency just announced it would change the definition of an “SUV” to make more EVs eligible for tax credits of up to $7,500.

According to the, “The department has updated the classification standards used to determine eligibility, expanding the definition of an SUV. The $7,500 tax credit applies to SUVs costing up to $80,000, but there is no such benefit for passenger cars more expensive than $55,000. The update, retroactive to Jan. 1, will use the standard set by the Environmental Protection Agency’s (EPA) fuel economy standards.”