2 Stocks That Have More Than Doubled in the Past Year to Buy and Hold for a Decade

Equity markets recently dipped due to concerns of deteriorating macroeconomic conditions, with the latest trigger being President Trump's trade wars. The S&P 500 index's performance over the trailing-12-month period no longer looks quite as impressive as it did at the start of 2025 -- the equity index is down nearly 1.5% over this period. More importantly, the index is down a massive 13.8% so far this year.

Some companies have performed much better, though. Summit Therapeutics (NASDAQ: SMMT) and Robinhood Markets (NASDAQ: HOOD) belong on that list. Both companies have crushed the market in the past year and remain excellent buy-and-hold options. Here is why Summit Therapeutics and Robinhood could deliver strong returns through the next decade.

Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free »

1. Summit Therapeutics

Summit Therapeutics is a clinical-stage biotech company with a market cap of $15.1 billion -- which is exceedingly rare for companies without a single product on the market. Last year, the drugmaker's shares skyrocketed after its leading candidate, ivonescimab, produced strong clinical results.

Here's a little more background on this cancer medicine. Summit Therapeutics signed a licensing deal with ivonescimab's creator, China-based Akeso Biopharma, that grants the former the rights to market the cancer drug in North and Latin America, Europe, the Middle East, Africa, the Caribbean, and Japan.

Ivonescimab, though, is already approved in China, and last year, it beat Keytruda -- the world's best-selling medicine -- in a phase 3 study in patients with non-small cell lung cancer and a PD-L1 protein overexpression. Patients with NSCLC are one of Keytruda's biggest markets, which is why investors are excited about Summit's prospects. Summit's valuation reflects the fact that its leading candidate has already delivered late-stage clinical and regulatory wins, albeit in China.

The biotech is running several phase 3 studies for ivonescimab in the U.S., including in NSCLC. What can we expect from this stock in the next decade? Ivonescimab has the hallmarks of a "pipeline in a drug." The medicine could earn a slew of approvals across various types of cancer, based on the clinical trials it is undergoing in China: colorectal, liver, breast, head and neck, ovarian, etc.

More clinical and regulatory wins for its leading candidate could jolt the stock price and, eventually, allow Summit Therapeutics to generate growing revenue. The company has yet to peak, given ivonescimab's prospects. It could still deliver excellent returns in the next decade.

2. Robinhood Markets

Robinhood delivered blowout financial results last year, leading to an excellent stock market performance. The company's revenue in 2024 increased by 58% year over year to $2.95 billion. Though it entered 2024 with a poor and inconsistent record of profitability, Robinhood showed green on the bottom line in every quarter last year. Its full-year net earnings per share were $1.56, compared to a loss per share of $0.61 reported in the previous fiscal year.

The detractors might point out that Robinhood owed some of that success (especially in the second half of 2024) to crypto-related trading revenue. President Trump's administration seems more crypto-friendly, but how long will this tailwind last?

However, it's worth pointing out that Robinhood has made progress across many categories. It is no longer just the platform of choice for newbie investors that played a role in the meme stock frenzy some years ago. Some key metrics for the company, including funded customers, assets under custody, and net deposits, all trended up for the year, and significantly at that.

Further, Robinhood is ramping up its subscription service, Robinhood Gold, which ended the year with 2.6 million members. Gold subscribers pay $5 per month for a range of perks, but the monthly payment isn't the most crucial thing Robinhood gets out of it. Gold members are likelier to purchase additional products, thereby spending more on the platform. Robinhood's Gold program could offer significant growth opportunities.

Lastly, the company has added a suite of new products (including via acquisitions) to attract even more members. Last year, it launched Robinhood Legend, a desktop platform that caters to the needs of active traders. It also acquired TradePMR, a portfolio management platform, for $300 million in a 60/40 mix of cash and stock; the transaction closed in February. Robinhood is a full-fledged financial services provider, but with the same appeal that first allowed it to burst onto this crowded scene and see some success.

It also has a range of growth opportunities as it continues to launch new products and services to attract new customers while cross-selling additional ones to existing members. Though the stock has experienced a pullback this year -- because of valuation and marketwide headwinds -- Robinhood looks like an excellent stock to hold on to for the next decade.

Should you invest $1,000 in Summit Therapeutics right now?

Before you buy stock in Summit Therapeutics, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Summit Therapeutics wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $578,035!*

Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.

See the 10 stocks »

*Stock Advisor returns as of April 5, 2025

Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Summit Therapeutics. The Motley Fool has a disclosure policy.