Quintupling just has a nice ring to it. There's not an investor around who wouldn't like to see their money grow by five times or more. 

Finding stocks that can achieve the goal is easier said than done, though. That's especially the case if you're wanting huge gains within only a few years. But it's not impossible to find promising candidates. Here are three stocks that could easily turn $10,000 into $50,000 by 2030.

Two smiling people dancing with their backs to each other.

Image source: Getty Images.

1. Teladoc Health

Teladoc Health (TDOC -1.52%) could deliver a 5x return simply by returning to where its shares traded less than a year ago. Since last summer, the telemedicine stock has plunged close to 80%.

Of course, getting back to those levels isn't so simple. Teladoc must first convince investors that it's able to deliver strong revenue growth and achieve profitability. I think the company has a good shot at doing both. Despite a huge net loss and reducing its full-year guidance for 2022, Teladoc's business actually appears to be in pretty good shape.

That big loss was due to a goodwill impairment primarily related to the acquisition of Livongo. Excluding this write-off, the company's bottom line improved year over year. And although Teladoc's full-year outlook is lower than it was previously, it still expects revenue to grow in the ballpark of 20%.

Teladoc continues to win new customers. It's only in the early stages of rolling out the Primary360 virtual primary care service. The company's addressable market is massive -- over $260 billion in the U.S. alone. Teladoc certainly isn't a slam dunk to quintuple by the end of the decade. However, it isn't too far-fetched a proposition at all.

2. Novocure

Turning $10,000 into $50,000 by 2030 could be too pessimistic a goal for Novocure (NVCR 0.33%). Sure, the stock is down more than 60% since last July as the company's revenue growth has slowed. But Novocure has multiple catalysts on the way.

The company has already won U.S. regulatory approval for its Tumor Treating Fields (TTFields) device in treating glioblastoma multiforme (an aggressive type of brain cancer) and mesothelioma. However, Novocure thinks that its method of using electric fields to disrupt the division of tumor cells can work in other types of cancer as well.

Results from a late-stage study of TTFields in treating non-small cell lung cancer should be announced later this year. In 2023, Novocure expects to report data from pivotal studies targeting ovarian cancer and brain metastases. The following year, results from another phase 3 study of TTFields in treating pancreatic cancer should be available.

Novocure estimates that these additional indications represent a market opportunity that's 14 times larger than its current market opportunity in approved indications. If the company's late-stage clinical studies go well, the stock should have a pretty good shot at delivering a 5x return or greater within the next eight years.

3. MercadoLibre

MercadoLibre (MELI -1.01%) is another beaten-down stock that still has tremendous long-term potential. Shares of the Latin American e-commerce leader have dropped close to 60% since the third quarter of 2021. However, MercadoLibre's business continues to perform well.

The company generated record net revenue in the first quarter of 2022. It posted a small profit, a huge improvement from the net losses in the previous quarter and in the prior-year period. 

More importantly, MercadoLibre is only scratching the surface of its opportunity. E-commerce market penetration rates in Latin America remain low. The company's fintech business has a significant growth runway as well. Many people in the countries served by MercadoLibre have no or limited access to traditional financial services. 

MercadoLibre could also grow by expanding into adjacent markets. Osvaldo Gimenez, CEO of the company's Mercado Pago unit, stated in the Q1 conference call that a pilot of a payroll service is in its early stages. He added, "We're very excited about the opportunity."

Wall Street's consensus 12-month price target for MercadoLibre is nearly double its current share price. I think that the company's growth potential in e-commerce, fintech, and new businesses just might enable the stock to turn an initial investment of $10,000 into $50,000 by 2030.