Companies at the forefront of medical or technological innovations are often rewarded for their efforts, both in terms of financial results and as it pertains to stock market performance. That's why many investors actively look for such companies: Getting in on the ground floor could translate to market-shattering returns in the long run.
But even if such a company has already made quite a few investors rich, it may still be worth purchasing its shares if it has enough growth left in its engine. With that in mind, let's turn our attention to two revolutionary stocks that have turned $200,000 into more than $1,000,000 (that's a return of more than 500%): Moderna (NASDAQ:MRNA) and Facebook (NASDAQ:FB). Here's why both of these companies could still have a long runway for growth.
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1. Moderna: 900% return in the past 2.5 years
Moderna went public in December 2018, and until last year, it was a relatively unknown company. The biotech made a name for itself thanks to its efforts to develop a COVID-19 vaccine, mRNA-1273. But even as the market cheered Moderna's work and sent its shares soaring through the roof, I remained highly skeptical. Recently, I have been forced to reconsider my position.
Moderna focuses on developing messenger RNA (mRNA) vaccines. Unlike most traditional vaccines, those of the mRNA variety don't confer immunity by injecting a harmless form of a virus into patients' bodies. Instead, mRNA vaccines work by delivering genetic instructions into the body that help the immune system respond appropriately once it encounters the actual virus.