3 Top TSX Stocks to Buy Today if You Have $1,000

Which emerging industries will deliver stupendous returns 10 years from now? Here are top three TSX stocks from budding areas.

| More on:
Canadian Dollars

Image source: Getty Images

The e-commerce industry has flourished in the last few years, and early investors reaped significant benefits from it. Who would have thought a decade ago that it would see such a steep growth? But smartphones, high-speed internet, and changing consumer behaviour drove the rally. Which emerging industries will deliver such returns 10 years from now?

Will cryptocurrencies continue their upward march in the coming years? Or will you find the growth story of electric or autonomous vehicles more believable? One thing is for sure: if you invest in emerging industries at the start of their growth cycle, the potential for higher returns is significantly higher. Here are three TSX stocks to bet on three emerging industries.

BlackBerry

BlackBerry (TSX:BB)(NYSE:BB), the legacy security software provider, has notably expanded in mobility software platforms in the last few years. As EVs and connected cars could well be the future of the automobile industry, BlackBerry has a huge potential for growth going forward.

Its game-changer QNX software is already installed in 175 million cars globally. BlackBerry’s strong global presence in the automotive space and competitive advantage in futuristic car technology could be a healthy combination for investors. It has recently announced partnerships with Baidu for high-definition maps and Amazon for Intelligent vehicle data platform services.

BlackBerry stock has fallen to $13 levels recently after peaking to $36 in January. Despite the fall, it is still sitting at hefty gains of 125% for the last 12 months. The stock looks a tad overvalued at the moment. However, the premium is justified given the high growth potential and the recent boom in EV stocks.

Maxar Technologies

Space technology is also among some of the high-growth areas right now. If you want to bet on it, consider Maxar Technologies (TSX:MAXR)(NYSE:MAXR) for the long term. It is a $3 billion space infrastructure and earth intelligence company.

The company offers services like robotics, earth imagery, and geospatial data analytics, which are used by private and government companies for navigation, security, and communication purposes.

For many years, space and allied tech domains have remained government-dominated areas. However, driven by its large growth potential, large private investment has come in the last few years.

Higher investments and a striving global space race could be beneficial for the entire industry. Higher investments will lower the technology cost over the period, which should eventually lift the profitability for companies like Maxar.

MAXR stock has gained more than 200% in the last 12 months. More contracts from government and commercial customers and promising top-line growth could continue to push the stock higher.

HIVE Technologies

Cryptocurrencies like Bitcoin and Ethereum have remained the talk of the town for quite some time now. If you are looking for a relatively safer and convenient option to bet on these cryptos, consider HIVE Blockchain Technologies (TSXV:HIVE) stock.

HIVE stock has fallen almost 30% since last month. But it has gained 1,770% in the last 12 months. HIVE is a $1.8 billion cryptocurrency mining company that mines Bitcoin and Ethereum. It produces new crypto coins every day, which it can monetize for revenues.

The company’s exposure to two top-performing cryptos makes it an attractive bet for investors. The ongoing crypto exuberance can drive the HIVE stock higher. However, the volatile nature and underlying uncertainties can keep conservative investors at bay.

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 Vineet Kulkarni has no position in any of the stocks mentioned. David Gardner owns shares of Amazon and Baidu. Tom Gardner owns shares of Baidu. The Motley Fool owns shares of and recommends Amazon and Baidu. The Motley Fool recommends BlackBerry, BlackBerry, and MAXAR TECHNOLOGIES LTD and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon.

More on Dividend Stocks

thinking
Dividend Stocks

Should You Buy BCE Stock for its 8.6% Dividend Yield?

Down over 20% from all-time highs, BCE stock offers you a tasty dividend yield in 2024. But is the TSX…

Read more »

grow dividends
Dividend Stocks

How Long Would It Take to Turn $20,000 Into $100,000 With TSX Dividend Stocks?

Here's how high-quality TSX dividend stocks and the power of compound interest can help grow your investments by 400% or…

Read more »

Paper airplanes flying on blue sky with form of growing graph
Dividend Stocks

2 Soaring Stocks I’d Buy Now With No Hesitation

These two stocks may be the most expensive on the market, but they're high for a reason! And I'm still…

Read more »

Hour glass and calendar concept for time slipping away for important appointment date, schedule and deadline
Dividend Stocks

Invest $374.50 Each Month to Create Passive Income of $288 in 2024

Investing a specific amount each month to create passive income this year is possible with monthly dividend payers.

Read more »

Happy retirement
Dividend Stocks

2 Stocks to Help Turn $100,000 Into $1 Million

If you want to reach $1 million, $100,000 can certainly get you there. Even if you invest in some low…

Read more »

warning or alert
Dividend Stocks

Income Alert: These Stocks Just Raised Their Dividends

There's no shortage of companies that raised their dividends recently. Here's a trio of options to consider buying now.

Read more »

Business success with growing, rising charts and businessman in background
Dividend Stocks

Don’t Look Now, But These 3 TSX Stocks Look Poised for a Nice Rally 

Three TSX stocks are in a downtrend amid headwinds. 2024 may be rocky for them, but they are poised for…

Read more »

protect, safe, trust
Dividend Stocks

3 Safe Dividend Stocks to Beat Inflation

These three dividend stocks are excellent buys to beat inflation, given their solid underlying businesses and high yields.

Read more »