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3 Top Stocks You Can Buy With $300

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Today’s volatile market is full of risks and rewards. There are stocks that are at a huge risk of falling in another market crash, which is likely to happen. There are other stocks that are also ripe for rewarding returns after a crash. That means you could pick up a few stocks for incredibly cheap and see them compound again and again with a long-term hold.

Even just $300 could provide you with an opportunity to add a few zeroes on the end of that investment. There are a few I would recommend today, and some are riskier than others. So here are a few top stocks to provide options depending on the kind of investment you’d like.

Aphria

Yes, I know, Aphria Inc. (TSX:APHA)(NYSE:APHA) is a cannabis stock, and cannabis is certainly risky right now. But it’s also cheap. And while cannabis stocks are down, Aphria remains the only major cannabis producer that’s turned a profit. The days of controversy seem to be behind it, and now investors need to sit and wait for legalization in the United States, when this stock could go gangbusters.

While revenue is down compared to other quarters, year over year the company has had an increase of 60% as of the last earnings quarter. Sales also continue to rise, though slowly, for an increase of 42%, and the company hopes to continue that momentum after the pandemic. Of all the pot stocks, if you’re willing to wait another decade, Aphria is definitely the best bang for your $300.

Open Text

Want something a bit more on the huge returns side? That would be Open Text Corp. (TSX:OTEX)(NASDAQ:OTEX). The company provides cybersecurity to major household names, from e-commerce giants to software companies. It keeps data safe in the cloud, on your computer, everywhere. These partnerships continue to happen again and again, and that revenue is recurring from its subscription service.

So, naturally, revenue continues to remain strong with year over year increases of 8.4% in the latest report. Shares are also up 27% as of writing for the last year, and 141% in the last five years for a compound annual growth rate (CAGR) of 19% in the last five years! This company provides investors with stability in a market that continues to adapt. The stocked jumped a whopping 32% last week with earnings buzz spinning, but could jump again with earnings due November 5.

TD Bank

And for the finale, for those looking for super safe and stable growth, there’s Toronto-Dominion Bank (TSX:TD)(NYSE:TD). This bank is still tied for the largest bank of the Big Six Banks by market capitalization, but has the largest potential for growth. The company expanded into the United States where it’s now one of the top 10 banks in the countries. Yet it’s only in the northeast, providing plenty of room to grow. Meanwhile, its wealth and commercial management provides another lucrative stream of revenue.

Yes, revenue is down, but the bank shouldn’t be set aside. If you’re looking for returns, look at historical growth. The company’s dividends are strong, and even increased recently. Shares have grown 30% in the last five years, with a CAGR of 9% in the last decade. Dividends have grown at a CAGR of 10% during that same period. So this is the perfect stock if you have $300 to spare, and want cash coming in while you wait for a market rebound.

Here are some more top choices from our professionals!

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Fool contributor Amy Legate-Wolfe owns shares of TORONTO-DOMINION BANK. The Motley Fool recommends Open Text and OPEN TEXT CORP.

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