Please note that this article has been updated to account for deletions and updates on the list of stocks that could double.
The bull market run in 2013 was so strong that many analysts and investors are concerned that the gains in late 2013 robbed the gains from 2014. In fact, the S&P 500 and DJIA hitting new highs in 2014 was crawling a wall of worry. Still, there’s always a bull market somewhere.
With that in mind, 24/7 Wall St. identified nine potentially undervalued or underappreciated stocks that could provide investors with handsome returns in 2014. Some of the stocks we’ve featured could even double in value if they live up to their full potential. That being said, the list is now only seven stocks as the outlook changed for two of the companies. As always, investors beware. None of these companies would pass the suitability for a widows and orphans investing strategy, and it’s even possible that some of these could flop.
Another risk when looking at stocks with the potential to double is that they are almost never your blue chip companies. Most of the companies we selected are either in turnaround or are underappreciated by investors. In order to prevent unlimited risks, investors can use put and call option to hedge their investments on all of these comapnies.
The list of stocks that could potentially double in price in 2014 includes a mixed bag of companies. We selected a struggling chip maker, a coal leader, a rocket engine player, an oil and gas player, a gold and silver miner, a biotech company, and an alternative energy engine maker. There’s also a company involved in home automation and another in wireless hauling equipment and solutions.
Update June 17, 2014: Halcon Resources Corp. (NYSE: HK) became the first of the picks to actually double.
These are the nine – now five – stocks that could double in 2014. Three are formally off, with one having doubled.