About six months ago I started “beating the drum” on Freeport-McMoRan, an American mining company based in Phoenix, Arizona.
You’ve probably noticed that I’ve been talking about it nonstop ever since. That’s because the first time I mentioned it, it was trading around $16 per share — and now it’s at $28. So it’s nearly doubled!
By the looks of things right now, Freeport-McMoRan Inc. (NYSE: FCX) is trading in an ascending triangle chart pattern.
And when a stock trades in an ascending triangle, and as I’m about to show you in just a second, it tends to break out even higher.
So in today’s video, I want to give you a couple other basic materials stocks ready to double in value that I haven’t mentioned before!
3 Basic Materials Stocks Ready to Double in Value
As you should already know, electric vehicle stocks have been skyrocketing lately. President Joe Biden isn’t letting up on his revised infrastructure plan where he wants to put in EV charging stations across the country. And according to Tesla and other automakers, we’re not going to have gas-powered cars for much longer.
But to make electric vehicle batteries and supplies, we need about four times as much copper as traditional combustion engines.
And according to Goldman Sachs, a leading global financial institution based in New York City, copper is “the new oil,” and could reach $15,000 per ton by 2025 as the world switches to clean energy.
A side note for those of you wondering… Copper’s current price has been fluctuating between $8,000 and $9,000 per ton.
So that’s almost double!
And that’s pretty big news for Freeport-McMoRan and other basic materials stocks ready to double in value.
But if you’re risk adverse or on the sidelines about buying individual copper stocks because some of them could potentially have geopolitical pressure as most aren’t based in the U.S. — then I’ve got just the thing for you.
The first basic materials stock ready to double on my list isn’t actually a stock — it’s an ETF. So you can actually get a basket of stocks without having to buy all of the individual components.
Check out my short video below, and don’t forget to subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video!
P.S. Massive hedge funds, institutions and banks are all gearing up to take over the market with algorithmic trading.
And they plan on leaving everyone in the dust!
According to CNBC, these algorithms are already dominating over 80% of today’s equity market, far outperforming traditional stock-picking strategies.
But there’s still hope left for the everyday investor.
I’ve developed an algorithmic trading machine that traders can use without needing to own millions of dollars in upfront capital.
And I’m about to reveal the details for it in this presentation.