Forget BlackBerry Stock (TSX:BB): This Stock Could Triple Your Money
The Motley Fool
Published Jun 10, 2021 08:00
Updated Jun 10, 2021 08:16
Forget BlackBerry Stock (TSX:BB): This Stock Could Triple Your Money
Investors today may think they’ve got it all figured out. They’re trying to find the next big cryptocurrency or tech stock scheme by digging into Reddit. After all, there have been millionaires made overnight! But these pump-and-dump schemes, like the one happening with BlackBerry (TSX:BB)(NYSE:BB) stock, aren’t investing at all.
If you want solid, stable returns over years, you have to come to a truth. While these stocks may not be the best performing every single year, they will be better than companies like BlackBerry stock in the long run.
BlackBerry stock bulls are full of fluff Investors seeking short-term gains and feeding into the growth of the BlackBerry stock short squeeze have taken new investors along with them. When BlackBerry stock peaked back in January, the stock was up 235% since the March 2020 crash. But the short squeeze ended, with the stock losing half of its value. But today, shares are back up, with BlackBerry stock up 86% in the last month alone.
While I cannot deny that BlackBerry stock has been an outperformer this year, there isn’t anything new for investors to latch onto. Basically, Blackberry (TSX:BB) stock is fuelled by a hyper-driven investment based on Reddit recommendations, and it will implode in the near future.
You may ask yourself, “But isn’t BlackBerry stock investing in cybersecurity and electric vehicles? Aren’t these solid future industries?” While this is true, the company is still far into the red and needs to get back into the black. It’s making strong partnerships and investments for down the line, but not for today’s investor. Today’s price-to-earnings ratio of 87.61 as of writing speaks to this. It’s price is uber inflated and definitely not anywhere close to a deal.
But what really speaks to the volatility is that this happened in the first place! If a stock can be swayed by Reddit, frankly, it’s not a stock I’d want to invest in. Investment should be based on future outlook and growth, not some social news aggregate. Today, the growth in BlackBerry stock is no more than a pump-and-dump scheme.
This stock could triple your money If you really want a stock that’s set up for explosive growth, don’t choose BlackBerry stock. Instead, look for growth industries. In my view, health care remains one of the best places to invest, along with tech. Luckily, WELL Health Technologies (TSX:WELL) combines both of these approaches.
If you want to make serious money from the tech sector, you’ll want Well Health stock as a long-term investment. The company is growing at a healthy clip and is now worldwide. The Canadian virtual healthcare provider recently expanded into the United States, following its acquisition spree that has seen record-setting growth over the last few years. With its most recent acquisition, it is now the largest outpatient medical clinic owner-operator in the country!
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Most recently, it reported record-setting revenue growth of 150% year over year, with software and services revenue rising 345%! With virtual healthcare only on the rise, it’s only a matter of time before Well Health stock really takes off. That’s especially as its recent acquisitions haven’t even been added to its recent revenue.
The company is no longer a small cap with a market capitalization of $1.6 billion. However, it’s still growing, creating opportunities that far outpace BlackBerry stock. Shares are up 196% in the last year alone and 5,177% since coming on the IPO scene. I predict that over the next few years, Well Health stock will outpace BlackBerry stock by leaps and bounds.
The post Forget BlackBerry Stock The Motley Fool Canada .
Fool contributor Amy Legate-Wolfe owns shares of Well Health Technologies Corp. The Motley Fool recommends BlackBerry.
This Article Was First Published on The Motley Fool
Written By: The Motley Fool
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