The Powerball jackpot now sits at a whopping $1.2 billion — here's the hefty tax bill if you win. Plus 2 other 'long shot' bets if you're really feeling lucky

Nio (NIO)

If you love volatility, you’ve probably heard of Chinese EV maker Nio.

Shares rose from $4.02 to $48.74 apiece in 2020, marking a staggering gain of over 1,100%. And thanks to the meme stock frenzy earlier last year, Nio continued to surge, reaching well above $60 in January 2021.

But parabolic runs don’t last forever. Nio has since pulled back significantly and now trades around $9.70 per share.

While Nio shares have been on a rollercoaster ride, its business continues to expand at a very impressive pace. The company had just reported that in October, it delivered 10,059 EVs, representing a 174% increase year over year.

Mizuho analyst Vijay Rakesh has a ‘buy’ rating on Nio and a price target of $40 — implying a potential upside of 312%.

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Green Thumb Industries (GTBIF)

Pot stocks had a huge bull run a few years ago. Now, many of them are in the doldrums, which could be an opportunity for those who want to bet on a bounce.

Check out Green Thumb Industries, a vertically integrated cannabis company headquartered in Chicago. It has 17 cultivation and manufacturing facilities, six consumer product brands, 77 open retail locations, and operations in 15 U.S. markets.

Green Thumb stock hasn’t been a hot commodity lately: shares are down more than 40% in 2022.

Business, however, is still on the rise.

Revenue totaled $254.3 million for the quarter that ended in June, up 14.6% year over year and 4.8% sequentially.

But the best part has been the bottom line. Green Thumb earned a profit of $24.4 million for the quarter, marking its eighth consecutive quarter of positive net income.

Canaccord analyst Matt Bottomley has a ‘buy’ rating on Green Thumb and a price target of C$35 on its Canada-listed shares. Since these shares trade at around C$16 right now, the price target represents a potential upside of 119%.