The Santa Claus Rally is here, and it’s real, even during a volatile market. It happens around this time each year, when optimism for the new year hits the markets. There are several stocks that have already seen huge jumps ahead of the new year. However, by Boxing Day, the market usually starts to calm down, as people get back to work and reality.
Luckily, there are still several stocks you can buy now to still see a jump before Boxing Day. While shares might drop a bit after that, these are options you’ll want to hold onto for years, if not decades — especially knowing that if shares can reach this high price once, it can do it again.
Cargojet
E-commerce has driven several companies to all-time highs, and Cargojet (TSX:CJT) remains one of them. The stock is already seeing a rally during the Santa Claus Rally, up about 5% in the last week as of writing. Yet this is after coming down from an all-time high of $250 per share.
So, can this stock reach that number again? There’s lots to look forward to from Cargojet, and not just from a boost during the pandemic rush in e-commerce. The company partnered with Amazon a few years ago and is still in the works of the e-commerce giant building a larger stake. When Amazon makes its next earnings report, shares in Cargojet are certainly likely to go up. Luckily, investors have years of jumps to look forward to, as Amazon continues to feed business to Cargojet.
Green Thumb
There are several cannabis stocks that many investors are keeping their eye on these days, but Green Thumb Industries (CNSX:GTII) is certainly one of them. The company has a huge spread of locations and production facilities across the United States, where there is likely to be a surge in cannabis use.
The Joe Biden administration aims to decriminalize marijuana, but beyond that, several states recently legalized the substance. That means we could see country-wide legalization before Biden’s first term is up. Green Thumb is counting on a major increase in U.S. use and has the setup to become a huge player in the cannabis game. It’s no wonder then that the stock is almost at all-time highs at the end of this year.
Open Text
Finally, the tech industry has seen a huge boost this year as well with the work-from-home economy booming. This switch was thought to happen years from now, but with the pandemic it happened almost overnight. Open Text (TSX:OTEX)(NASDAQ:OTEX) was there to oversee the transition, with a slew of cloud-based services to keep data safe for major businesses.
Open Text has been making partnerships left, right, and centre, but it still has the recurring revenue to look forward to. The company has seen shares rise higher and higher during this volatile market, with shares back to pre-crash levels and likely to continue climbing.
Bottom line
These three stocks are perfect options to buy to see a boost before the end of the year. But even better, each provide great long-term holds with plenty to look forward to in the years to come. Investors wanting to end the year on a high note need only pick up even a small stake in each of these stocks.
