The key to making millions from the market is not volatility or poor stock selection, but rather impatience and exiting value creators early. While meme stock investing may promise quick returns, wealth creation is best achieved through buying and holding with patience. This article focuses on potential millionaire-maker penny stocks that could provide multibagger returns by 2028.
In the world of penny stocks, there are many speculative ideas, but there are also businesses with the potential to become high-quality growth stocks in the coming years. It’s crucial to keep a close eye on the progress of these businesses rather than focusing solely on stock movements, as industry headwinds can affect stock sentiment.
One such potential millionaire-maker penny stock is Lithium Americas (LAC). Despite its current market valuation of $660 million, the company’s after-tax net present value of lithium assets stands at $5.7 billion. With a mine life of 40 years and an annual EBITDA visibility of $2 billion once fully operational, the company’s asset, Thacker Pass, presents a promising investment opportunity.
Another penny stock to consider is Bitfarms (BITF), an undervalued Bitcoin mining company with strong fundamentals and zero debt. With a liquidity buffer of $124 million and plans to increase mining capacity significantly, Bitfarms is poised for substantial revenue and EBITDA growth.
Lastly, Cronos (CRON) is positioned as a potential millionaire-maker in the cannabis industry, especially with the recent legalization of cannabis in Germany and potential regulatory changes in the U.S. With a cash buffer of $855 million and a conservative approach to expansion, Cronos is well-positioned for organic and acquisition-driven growth.
Overall, these three penny stocks offer significant potential for multibagger returns by 2028. It’s important to stay informed about the progress of these companies and to exercise patience when investing for long-term wealth creation.