Boxing Day Blowout: 3 Stocks to Buy Right Now

These stocks are set to soar into the new year, but that doesn’t mean you have to wait!

| More on:
Elderly man giving a Christmas present to his wife

Image source: Getty Images

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.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Fool contributor Amy Legate-Wolfe owns shares of CARGOJET INC. and Green Thumb Industries Inc. David Gardner owns shares of Amazon. The Motley Fool owns shares of and recommends Amazon and CARGOJET INC. The Motley Fool recommends Open Text and OPEN TEXT CORP and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon.

More on Coronavirus

movies, theatre, popcorn
Coronavirus

How Much is $1000 in AMC Stock Worth 1 Year Later?

AMC was once a stellar growth stock, but it’s taken a serious hit. So how much is $1,000 worth a…

Read more »

Airport and plane
Coronavirus

Air Canada Stock Could Keep Trading Weak as Challenges Mount

Should you buy AC stock?

Read more »

Arrow descending on a graph
Coronavirus

Why Cineplex (TSX:CGX) Stock Fell to 2-Year Lows Last Week

Is the recent correction in CGX stock really an opportunity?

Read more »

Business success with growing, rising charts and businessman in background
Coronavirus

1 Growth Stock Every Canadian Investor Should Consider Right Now

This growth stock saw shares pop 10% on June 20, as one analyst stated there is a significant opportunity to…

Read more »

Aircraft wing plane
Coronavirus

Bombardier Stock Merge: What it Means for Investors

Bombardier (TSX:BBD.B) stock went through a reverse stock split on June 13, turning 25 shares into one in one swift…

Read more »

Aircraft wing plane
Coronavirus

Air Canada (TSX:AC) Stock: Ready to Take Off?

While Air Canada is handling what it can control really well, there are many worsening macro headwinds that will likely…

Read more »

rail train
Coronavirus

Bull or Bear: Why Analysts Changed Their Tune on Aecon Stock

Analysts had been champing at the bit for the construction company, but the tides have turned.

Read more »

Biotech stocks
Coronavirus

Is Bellus Health Stock Still a Buy After 30% Earnings Jump?

The biotech continues to make progress on obtaining FDA approval for its chronic-cough therapy.

Read more »