Yahoo Finance 2 Millionaire-Maker Growth Stocks to Make You Rich
The TSX Venture exchange is a great place to find up-and-coming stocks that don’t have the size and ability to list on the TSX.
While a lot of these companies may not end up working out, and there is much more risk investing in small caps, when you do find one that is a clear winner, it can bring massive returns.
TMX Group, the company that owns the TSX and TSX Venture Exchange, makes a list of the top 50 performers on the Venture Exchange from the prior year based on market cap growth, share appreciation, and volume traded.
The list is a great way to see some of the top prospects that could one day grow to be massive blue-chip stocks.
Two of the companies from the 2019 list to consider today are Patriot One Technologies (TSX:PAT) and Questor Technologies (TSXV:QST).
Patriot One
Patriot One was a TSX Venture graduate this year, now listing on the Toronto Stock Exchange. It began the year on TMX’s 2019 TSX Venture 50 list, as the company continues to grow its market cap while it becomes more popular.
Patriot One operates in what unfortunately has become a growing industry the last few years. It develops high-tech devices that are designed to detect concealed weapons and explosives using its radar technology that is unobtrusive to the subject.
This is a clear improvement from the current form of security and weapon detection, which requires subjects to comply with the search and is limited to fixed units in specific areas of the venue that’s being protected.
Its artificial intelligence-powered technology can be deployed virtually anywhere and has numerous different sensors working together, adding multiple layers of security.
The company has been refining the technology for more than seven years now, creating the ultimate package to prevent tragedy and save lives.
With a market cap of just $250 million, there is huge room for the stock to grow, especially considering its technology solves a worldwide problem that everyone would agree could be improved.
Questor
Questor is a clean technology company that works with the energy industry to primarily reduce greenhouse gasses.
Its technology does more than just clean up the air though, it also improves efficiency and helps cut costs for the companies that use it.
This is key to incentive companies to use its products, especially when commodity prices are depressed around the world, and many companies are looking for cost-cutting measures.
Questor has been in business for 25 years now, refining its technology to become one of the best in its class.
From 2015 to 2018, the company grew its revenue by 189% and its earnings before interest, taxes, depreciation, and amortization (EBITDA) by a whopping 1,270%.
Just looking at some of these numbers, it’s clear that there is a huge growth opportunity available, as it’s posted incredible growth numbers already in a softer oil environment.
When the commodities market eventually rebounds, and as more countries enforce stricter environmental standards, Questor will be in a solid position to capture the major increase in demand.
It trades at a market cap of just $115 million, so clearly, there is tonnes of room for it to grow.
Bottom line
If you are looking for the next big millionaire-making stock, the Venture exchange is always a great place to start, especially if you want a technology company.
Both of these stocks offer huge growth potential and services that are crucial to the well-being of humanity.
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Fool contributor Daniel Da Costa has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends TMX GROUP INC. / GROUPE TMX INC. The Motley Fool owns shares of Questor Technology Inc.
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