Not all stocks are multibagger material; some companies tend to produce slow but steady portfolio value. And depending on your investing style, you might prefer those types of stocks to the high-growth names that tend to generate a bit more volatility.

On the flip side, if you’re a more risk-resilient investor searching for revolutionary companies to invest in, here are two names you might want to consider adding to your buy list this month. Image source: Getty Images. 1. GrowGeneration

GrowGeneration ( NASDAQ:GRWG ) is a cannabis stock with an exceptional track record of generating strong share price returns along with robust revenue and earnings growth. If you’re not familiar with this pot stock , the company operates a chain of garden centers in the U.S. that sell a wide range of farming products and tools that growers use to cultivate and harvest marijuana.

While a company’s past doesn’t predict its future, GrowGeneration’s ever-expanding foothold in the high-growth cannabis space coupled with the strength of its underlying business keeps investors coming back for more, and it could easily translate to substantial share price increases in the years ahead.

Over the past five years alone, the stock has jumped by more than 850%, with most of those gains occurring in 2020 alone. The stock still trades at just around $20. During the same trailing-five-year period, GrowGeneration has also seen its annual net income and revenue jump by 303% and 143%, respectively.

As the top hydroponics supplier in the U.S. and with new operators constantly emerging as potential customers in this multibillion-dollar market, it’s no surprise that GrowGeneration continues to build upon its impressive track record of top- and bottom-line growth. In the second quarter of 2021, the company’s revenue shot up 190% year over year. Meanwhile, its net income grew by 161% from the year-ago period.

GrowGeneration has garden centers all over the U.S., and its penchant for setting up shop in lucrative markets like Colorado, Florida, Nevada, and Washington is generating substantial cash flow on top of high profits. In the most recent quarterly report, management said that the company had cash and cash equivalents of $67.2 million versus total current liabilities of about $59.8 million. If you’re looking for a supercharged marijuana stock that’s still in the early stages of its growth story and trades at a cheap valuation to boot, GrowGeneration delivers on all counts. 2. Shopify

Switching to an entirely different sector, Shopify ( NYSE:SHOP ) has already delivered multibagger returns for investors in recent years. I also think there’s no reason the company can’t keep up with this rate of growth, and then some. It’s already forecasting that it can increase its sales by nearly 400% by the year 2025 and is the largest e-commerce platform by market share in the entire U.S.

Brands of all sizes rely on Shopify’s platform for the tools and services they need to run their online stores. Shopify’s brand authority, easy-to-use platform, and endless integration options make it a one-stop shop for companies looking to build a thriving e-commerce presence, whether from scratch or with an existing brick-and-mortar presence.

Over the trailing-five-year period, the stock has delivered returns of more than 3,700% for investors. Over the past year alone, the stock has gained more than 60%.

In the third quarter of this year, Shopify’s revenue grew 46% year over year, while net income rose an incredible 501% from the year-ago period. Gross merchandise volume on its platform increased 35% year over year, while merchant-solutions revenue and subscriptions-solutions revenue soared by 51% and 37%, respectively, during the quarter.

As Shopify shareholder myself, I’m thrilled to see the growth the company continues to deliver quarter after quarter in the highly competitive e-commerce environment. As Shopify keeps seizing market share and expanding its booming business, it’s not a stretch of the imagination that the stock could still soar far higher than where it’s trading right now. I, for one, am looking forward to staying along for the ride. Where to invest $1,000 right now

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