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£500 to invest? Here’s how I’d aim to double my money investing in shares

Investing in shares is one proven method to grow wealth. Prosper Ambaka explores two stocks that he believes could double his money.

by | Last updated 27 Nov, 2022 | Get financial insights

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  • Investing in shares has created thousands of billionaires.
  • Growth stocks could enable me to double my money quickly.
  • I could equally earn passive income with shares.

Investing in shares has remained a viable means for investors to double their money. Since the invention of the stock market, thousands of billionaires have been created through investing in shares. The FTSE 100 has nearly doubled its value since the lows of the subprime crisis. With that in mind, I am not scared of putting my money in the stock market with the hope of doubling it. 

With that in mind, here are two stocks I’m considering adding to my portfolio.

A leading information service company

Experian (LSE:EXPN)  is an information service company. It serves clients in a vast range of sectors including, financial services, automotive, healthcare, direct-to-consumer, retail, telecommunications, insurance, media, technology, and even government.

Experian provides data services that help their clients identify and understand their customers and manage risks associated with lending. Beyond that, it also provides analytical and decision making tools that enable businesses to manage their customers, minimize the risk of fraud and comply with legal requirements. 

Interestingly, the Experian share price is up over 19% in the past year. Furthermore, it has increased its net income over the years and has maintained a positive cash flow. Today’s world is information-driven. As a result, companies like Experian Plc will continue to play essential roles in businesses. At least, that’s what I think.

With that in mind, investing in shares of companies such as Experian plc could double my money over the years. Nonetheless, I’m cautious of the competitive nature of the information service sector. If its rivals can steal market share, the stock could quickly plummet.

Investing in shares: this food-at-the-go company could double my money

The Greggs (LSE:GRG) share price is up over 31% in the past year. Greggs is one of the largest bakery chains in the United Kingdom. The company has over 2,200 retail outlets spread across the country and has been a trusted brand for nearly a century. 

Its shops are spread across strategic locations where customers need it most. That includes retail parks, shopping centres, office parks, industrial estates, travel hubs, roadside locations, among other places.

Greggs sales for its last financial year were £1.2bn, a two-year increase of 5.3% compared with the same period in 2019. The company also opened 131 new shops, which include 50 franchises and also closed 28 underperforming ones.

Needless to say, this will improve the company’s revenue over the years. And providing it can maintain its competitive edge against rival on-the-go food retailers, I believe the stock has the potential to double over the long term. That certainly makes investing in its shares sound like a prudent move. But, the returns are far from guaranteed.

McDonald’s, Costa Coffee, and Subway are just a handful of competitors all looking to steal market share, with plenty of resources backing them. Obviously, if Greggs cannot stay ahead, its share price will inevitably suffer.

Final thoughts on investing in these shares

There are thousands of companies I can invest £500 into. But Experian and Greggs are my top two picks that I’m considering for my portfolio today. But these aren’t the only businesses I’ve got my eye on. Disruptions in the finance sector by fintech stocks could also be another way I can try to double my money.

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Prosper Ambaka does not own shares in any of the companies mentioned. The Money Cog has published an investment report on Greggs. Views expressed on the companies and assets mentioned in this article are those of the writer and, therefore, may differ from the opinions of analysts in The Money Cog Premium services.

Written By

Prosper Ambaka, Esq.

Prosper is a self-taught financial analyst and investor with years of experience. Inspired by Benjamin Graham, he employs a value-investing school of thought throughout his analyses. This has led to Prosper developing a wealth of knowledge in equities, foreign exchange, commodities, and global macroeconomic issues.

In 2019, he completed his Law degree and was called to the Nigerian Bar in 2021. Outside The Money Cog, Prosper encourages others to join the investment community through his lectures on financial literacy as well as investing strategies.

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Edited & Fact Checked By
Zaven Boyrazian MSc

Zaven has worked in several industries throughout his career, from aircraft factories to game development studios. He has been actively investing in the stock market for the better part of a decade, managing over $1 million across multiple portfolios.

Specializing in corporate valuation, Zaven employs a modern take on the principles set out by Benjamin Graham to find new opportunities at fair prices.

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