The Motley Fool

The 3 Biggest TSX IPOs of 2020

Image source: Getty Images

January has been a time of reflection, even with investments. Many investors are looking back at what did well, and wondering what 2021 will bring. Though there are some stocks that are brand new to the TSX Composite, these stocks managed to do well even during an economic downturn. With that in mind, it’s a great time to look at some of the initial public offerings (IPOs) that soared even with a market crash in 2020.


Coming in at the top spot, Nuvei Corp. (TSX:NVEI) soared past the previous top tech IPOs this year. The company raised $700 million on its IPO in September 2020. That made it the most valuable tech IPO in the history of the TSX. The company is a payment processing firm. However, unlike other tech companies doing well, Nuvei sees most action through online spots betting.

Shares are up about 60% since it came on the market, and that’s likely to continue soaring as the fast-growing world of sports betting continues to climb. It should also continue as management bets on itself, recently selling 26 million shares. Another bonus is that pandemic or not, this industry is likely to continue doing well for years to come.

WELL Health

Another company that continues to do well is WELL Health Technologies Corp. (TSX:WELL). The company unites telehealth services and continues to grow through acquisition of smaller telehealth companies. It’s been growing every since and also by share price.

The company’s shares are up about 325% as of writing, after a strong IPO. Many investors have been sold that telehealth will continue far beyond the pandemic. It looks as if WELL Health came onto the TSX at the perfect time. Even as revenue slows, it’s still up by over 280% year over year. As the company continues to acquire other businesses, that revenue will continue to jump by leaps and bounds for the next few years at least.

GFL Environmental

If there’s one thing everyone will have for the rest of time, it’s waste. GFL Environmental Inc. (TSX:GFL) came on to the TSX this year to deal with that waste. The company is the fourth-largest of its kind in North America, and has been trading up since it came on the market last year.

As of writing, shares are up 84%, but that’s not likely to slow down anytime soon. While there is competition in the waste management space, this company has already proven itself. It continues to see revenue growth in the double digits year over year since its IPO, most recently at 25%.

Bottom line

All three of these companies would provide you with winning opportunities to get more than just a diverse portfolio. Each are solid long-term holds you’ll be glad you picked up in infancy. Waste management, online payments, and health services are all industries that will continue to be around for years if not decades. In the meantime, you’re likely to at least see strong growth as the market continues to rebound, both now and beyond the pandemic.

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.

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss an important event.

Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group.

This is your chance to get in early on what could prove to be very special investment advice.

Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada.