It has been a wild journey for the top cryptocurrency already this year, and 2021 is still new.
I would not be shocked if bitcoin gives solid profits over the coming year. But I also believe there are a few stocks that could produce even greater returns. Here are 3 well-known stocks that could do better than bitcoin this year.
1. ARK Innovation ETF
ARK Innovation ETF (NYSEMKT:ARKK) is an ETF that is bought and sold just like a stock. So while it might not be a “real” stock… it’s still loved by investors all the same. And ARKK truly deserves this love and admiration. Because in my opinion, ARKK is among the few Robinhood stocks most likely to sky-rocket this year.
ARKK was a huge winner in 2020 with 149% returns. While bitcoin did much better, I think that could change this year.
For one, ARKK has Cathie Wood leading it. She is truly among the best investors out there today. With this ETF, she has a great opportunity to show her capabilities as she invests in companies with the potential for industry disruption.
Many of ARKK’s holdings should product big gains in 2021, but I’ll only go over two of them. I believe Square and Roku will win from two incoming trends — digital payments and connected TV. But like I said, ARKK has many other excellent stocks that might drive it to outperform bitcoin this year.
Some might anticipate 2021 to be a blowout year for cryptocurrencies. But I think that it will be even bigger for marijuana companies. If I turn out right, it would turn out great for Hexo (NYSE:HEXO).
Now of course, Hexo didn’t look like much last year. Its shares fell by 42%. But keep in mind, steep plunges were common in Canadian pot stocks. Things have definitely changed.
Don’t be shocked if the DNC-controlled Congress pushes forward in 2021 with proposals to decriminalize marijuana. If this happens and the bill is passed by President Joe Biden, it might allow Hexo to enter the U.S. market while keeping its listing on the NY Stock Exchange.
The company is already sort of in the American market. Truss CBD USA, a joint venture between Hexo and Molson Coors, began selling CBD-infused drinks recently this month. (NASDAQ:INO) might be among the doses administered this year.
Inovio had a great performance in 2020, with its price increasing 168%. That increase could be nothing compared to incoming gains if the company’s INO-4800 vaccine proves to be safe and effective.
It’s going to take some time before we know the real possibilities for INO-4800. Inovio is at this moment evaluating the vaccine, which is currently experimental, in phase 2 of a clinical study.
The stock could get yet another huge catalyst, though. Inovio anticipates later this year to report the results of its study of VGX-3100 for treatment of precancerous cervical dysplasia. Positive outcomes from this could lead to a final filing for approval of VGX-3100.