Could buying this ASX 200 stock for $4 be like investing in Amazon in 2008?

This Australian company is perfectly placed to make hay from a world trying to reduce carbon emissions.

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Just as many investors wrote off Amazon.com Inc (NASDAQ: AMZN) as a has-been, it proved once again it's a legendary growth stock.

The share price for the US e-commerce giant rose close enough to 80% over the 2023 calendar year.

That's after doubts surfaced as to whether it was too mature to grow under new chief executive Andy Jassy.

If you invested $10,000 during the craziness of the global financial crisis in November 2008, you would now proudly be in possession of a $810,000 investment.

Yeah, you read right.

Maybe it's too late to reap those sorts of returns from Amazon. Maybe not.

But there are stocks on our very own S&P/ASX 200 Index (ASX: XJO) that are capable of such explosive growth in the coming years.

Check out this one, for example:

Uranium is back, baby

Believe it or not, uranium is back in vogue.

Only 12 years ago, most countries were shutting down their nuclear power generators after watching the Fukushima disaster in Japan.

But Russia's aggression towards Ukraine the past couple of years has forced much of the world to review their energy security.

Not only are countries that previously mothballed their reactors now restarting them, those nations that have never had nuclear power are putting it on their agenda.

Bell Potter analysts noted how this has put a rocket under the global uranium price.

"For uranium, we have seen increased offtake activity over the past six months, lifting U3O8 prices from US$55/lb to over US$81/lb," they said in a memo to clients.

"We anticipate prices to remain elevated in the face of growing demand for nuclear, and a lack of near-term supply for U3O8."

Australia, fortunately, is one of the world's major producers of the nuclear fuel.

The pick of the ASX 200 uranium stocks

And a stock that the Bell Potter team favours as a speculative buy at the moment is Boss Energy Ltd (ASX: BOE).

Its major mine in South Australia, named Honeymoon, is on schedule to restart production after laying idle for most of the 2010s due to low uranium prices.

The Bell Potter analysts like the outlook.

"We continue to see support for uranium prices driven by a lack of near-term supply, and expansion in nuclear adoption. 

"We anticipate a rising price environment over the next 6 to 12 months as nuclear utilities begin contracting for new supply."

The team considers Boss Energy to have a valuation of $5.53 per share, which gives it a roughly 37% upside in the short term.

In the long term though, once the world commits to nuclear power, it will be committed for a generation after all the capital it will have spent to build or reactivate infrastructure.

According to CMC Invest, four out of six analysts believe Boss Energy shares are a strong buy.

John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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