Albemarle Corporation (ALB): Albemarle Corporation stock has trended higher by 26% in the last 12 months.
However, the growth stock looks undervalued at a forward price-earnings ratio of 8.8. With lithium being an attractive investment theme, ALB stock is poised for multibagger returns.
It’s also worth noting that the company ended 2022 with a lithium conversion capacity of 200ktpa. Albemarle has guided for an increase in capacity to 550ktpa (mid-range) by 2030. With sustained growth in capacity, the cash flow outlook is robust.
Given the growth guidance, ALB stock seems deeply undervalued and is among the top multibagger growth stocks to consider.
Riot Platforms (RIOT) : Riot Platforms is a top pick among Bitcoin mining stocks. The key reason is a strong balance sheet even after navigating an extended period of low crypto prices. As of September 2022, Riot reported $255 million in cash and zero debt. This positions the company for aggressive growth if Bitcoin recovery sustains.
It’s worth noting that as of Q3 2022, the company reported a mining capacity of 7.7EH/s. Capacity has increased to 9.3EH/s in January 2023. Riot further expects to boost capacity to 12.5EH/s by the first half of the year. Given the strong cash buffer, the next leg of expansion seems likely after Q2 2023.
Polestar Automotive (PSNY) : Polestar Automotive looks like a potential multibagger with the company pursuing aggressive growth. For 2022, Polestar delivered 51,500 cars, which was higher by 80% on a year-on-year basis. The company has guided for 60% growth in deliveries for the current year.
Polestar however reported widening of operating level losses in 2022. Operating leverage is likely to kick-in with sustained growth in vehicle deliveries. This is a potential catalyst for PSNY stock upside.
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