The Motley Fool Canada

This Stock Could Be Like Buying Amazon in 1997

By: Jordan DiPietro

This Stock Could Be Like Buying Amazon in 1997

A little-known Canadian company just went public and it’s already making people rich, including one lucky insider — a ski-bum with strong coding skills — who made over $300 million with his stake in the company.

But that’s not why investors are buying shares hand over fist right now. The real reason is that they think this stock will make them rich too.

You see, this company just signed huge deals with industry titans that should supercharge its growth for years to come. Cash from those deals is already rolling in and sending the stock price higher.

The stock is already up 146% over the last year. Better yet, the company is still just a mid-cap, which means we think this stock has plenty of room to run. Especially with the stock market as hot as it is.

The market is rocketing higher every day, and it’s starting to feel like we’re at the beginning of something special.

In fact, I think we’re about to enter the greatest part of this company’s growth story. 

If that seems like a bold claim, just consider the signs staring us in the face…

The S&P/TSX is already up 6% since the election.

The Dow Jones crossed 20,000 for the first time in history.

The Federal Reserve has finally decided to raise interest rates – an action that many investors see a ringing endorsement for the strength of the global and US economy..

Trump has already claimed to save thousands of jobs by publicly shaming massive companies like Ford and Carrier for opening factories in Mexico.

Bay Street investors are abandoning bonds and piling into stocks.

The list of promising signs goes on and on. Add it all together and it looks like we could be sitting on a powder keg of market potential that’s unlike anything we’ve seen in a recent memory.

That’s why I’m strongly urging all investors to get in on the action now. Before it’s too late.

And what better way to get started than with what I consider to be the most promising young company on my radar?

This company is my top pick for 2017 and it comes straight from renowned investor Iain Butler and his team, whose investing newsletter Motley Fool Stock Advisor Canada has beaten the the market over the last 3+ years.

We think the company is strikingly similar to an early Amazon.com, which David Gardner (Motley Fool co-founder) recommended for the first time back in 1997. If you’d bought $5,000 worth of stock back then, it would be worth nearly $2.5 million today.

First, with a market cap of around $6.0 billion, this stock is still a mid-cap.

And like Amazon, this company has been growing like gangbusters!

The company already has hundreds of thousands of small-business customers, and recently scored profitable deals with massive partners like Facebook and Amazon.

Even more exciting, the company has doubled their volume over the last year, and grown its sales by 89% in the last quarter alone.

This amazing company has put together an incredible string of successes since its IPO and the market has rewarded early investors. The stock has way more than doubled over the last 12 months and I think it’s just getting started.

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Returns as of March 17, 2017. Jordan DiPietro owns shares of Amazon and Facebook. The Motley Fool owns shares of and recommends Amazon.com and Facebook. The Motley Fool has a disclosure policy.