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TFSA Investors: 2 Top Canadian Stocks to Buy for Massive Returns

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Investors have watched the market carefully during the market rebound after the pandemic-fueled sell-off. Equity securities from some sectors in the economy are climbing in recent surges, like the energy industry, while others like the tech sector are on the decline.

As an investor seeking immense returns on your investment, what should you do?

It would be best to gain exposure to inherently strong companies and not focus entirely on the market movement. The stock market is ruled by emotion, and it could lead to overvalued and severely undervalued assets. Sometimes, it is better to add stocks to your watch list and make investing moves when a drop happens so you can up your stake in stronger companies.

Today I will discuss Facedrive Inc. (TSXV:FD) and Suncor Energy Inc. (TSX:SU)(NYSE:SU) as strong companies you could consider adding to your portfolio to get substantial returns.

Facedrive

The Electric Vehicle (EV) wave is in full swing today, and Facedrive is an ideal stock to add to your portfolio if you want to ride the wave. The company’s share prices declined 57.30% between February 8 and March 5, 2021. The EV ride-sharing company created several revenue streams to generate income, from delivering packages to people, medication, and meals.

The company has yet to release its Q4 2020 results, and now could be an ideal time to buy shares of the EV stock before it soars in 2021 ahead of earnings. Facedrive could be more than a short-term bump ahead of its earnings release. It may be a viable long-term investment to consider.

EV stocks are expected to soar in the future as investment continues. Facedrive is a company that has positioned itself well to take advantage of the growing EV popularity worldwide.

Suncor

The energy sector took a massive beating between the oil price crisis and the pandemic-induced decline in fossil fuel demand. Suncor Energy, a Canada-based integrated energy company, was not spared from the bloodbath and suffered substantial losses during the pandemic. Its investments in the Alberta oil sands and halting production added to its challenges.

However, Suncor could be an excellent opportunity for bargain-seeking investors right now. At writing, the stock is up 34.78% year to date. Warren Buffett still owns the energy giant’s shares and is the only Canadian stock Buffett owns as of Berkshire’s latest 13F filing. With the energy sector on a rebound, Suncor could be the ideal energy industry recovery play.

As the situation with the pandemic improves, commodity demand might normalize soon, and Suncor is well-positioned to take advantage of the development.

Foolish takeaway

Challenging economic environments may take their toll on investors. However, they present opportunities for savvy investors to leverage to their advantage. The current market movements make Suncor and Facedrive excellent picks to consider adding to your portfolio if you seek substantial returns.

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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 Adam Othman has no position in any of the stocks mentioned.

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