No matter what your reasons for investing may be, you would probably be thrilled with a stock that turns a relatively small amount of money — say, $50,000 — into a million dollars. Finding companies of this caliber can be a daunting task: There are near-endless options on the market, but most stocks will never deliver these kinds of gains.
Today, let’s take a closer look at clinical-stage biotech company Inovio Pharmaceuticals (NASDAQ: INO) and see whether it has what it takes to join that select group of millionaire-maker stocks. Inovio rose to prominence last year thanks to its efforts to develop a vaccine for COVID-19, and its shares are up by 277% over the past 12 months as a result, compared to gains of 16% for the S&P 500 in the same period. Can the biotech keep up the momentum moving forward?