7 Stocks to Buy to Retire a Millionaire

SQ Block $55.18 RIOT Riot Blockchain $5.58 LCID Lucid Group $12.60 CPNG Coupang $16.50 TLRY Tilray Brands $3.28 SLDP Solid Power $4.99 LAC Lithium Americas $23.65

Block (SQ)

Block (NYSE:SQ) One reason for the steep correction in SQ stock is the crash in cryptocurrencies. The company was rebranded as Block to emphasize on the focus related to Bitcoin (BTC-USD) and blockchain technology. Back in 2021, it was also reported that Block is building a business dedicated to “decentralized financial services” using Bitcoin.

Riot Blockchain (RIOT)

Riot Blockchain (NASDAQ:RIOT) RIOT stock is a ten-bagger once Bitcoin trades above $50,000 The company has a current hash rate of 5.6EH/s. The target is to increase capacity to 12.6EH/s by Q1 2023. The company already has 6,775 Bitcoin on its balance sheet.

Lucid Group (LCID)

Lucid Group (NASDAQ:LCID) he company already has 37,000 reservations for Lucid Air, which implies potential sales of $3.5 billion. With an innovation edge, Lucid is positioned to survive and grow amidst intense competition. Recently, the company also introduced Lucid Air Sapphire, which is being touted as the most powerful sports sedan.

Coupang (CPNG)

Coupang (NYSE:CPNG) the company has guided for positive adjusted EBITDA in 2022. With steady revenue growth, EBITDA margin improvement will likely sustain in 2023. As of March 2022, Coupang reported 18 million active customers. The total number of Korean online shoppers is estimated at 37 million.

Tilray Brands (TLRY)

Tilray (NASDAQ:TLRY) Tilray has adjusted EBITDA positively. Furthermore, the company expects to report positive free cash flows in 2023. Company’s target of achieving $4 billion in revenue by 2024 is realistic. Of course, a lot depends on how soon cannabis is legalized at the Federal level in the U.S.

Solid Power (SLDP)

Solid Power (NASDAQ:SLDP) In June, Solid Power announced that the pilot line for EV cells had been installed. If the test results are positive, Solid Power has clear growth visibility. It’s worth noting that the company’s automotive partners include Ford (NYSE:F) and BMW (OTCMKTS:BMWYY). 

Lithium Americas (LAC)

Lithium Americas (NYSE:LAC) Lithium Americas has a current valuation of $3.2 billion. Furthermore, the asset in Argentina (Cauchari-Olaro) has a mine life of 40 years and is expected to deliver an average annual EBITDA of $308 million. LAC stock has an upside catalyst. The company is financed with $500 million in cash buffer for the next 12-18 months. The company also expects to commence construction at the Thacker Pass asset in 2023.