You may have heard people talking about innovation happening much faster than it’s ever happened before. I’m a big believer in that, simply because technology is accelerating at a much faster rate than it ever has before. By technology, I don’t strictly mean software and hardware but in the broad sense of what powers everything we use. In this article, I will discuss three disruptive stocks that you should hold for the next decade. Canadian, growth-oriented investors should take extra note.
This will be the biggest shift of the decade
Of course, it’s tough to predict where the world will move in the future. However, think back at what services you’ve used over the past year. Have any of those seen a large uptick in usage? I’m willing to bet you’ve been buying things online a lot more over the past year than in years previous. Because of that, Shopify (TSX:SHOP)(NYSE:SHOP) remains my top growth stock in Canada.
Shopify is a worldwide enabler of e-commerce. It offers an online platform where merchants of all sizes can operate online stores. As of this writing, Shopify has more than 1,000,000 active merchants using its services. Since its IPO, Shopify stock has taken the market by storm. In 2020, the company topped off an incredible run by becoming the largest public company in Canada by market cap. Today, the stock trades about 28% down from its recent highs. This gives investors an excellent chance to load up.
The world is becoming more digital
Sticking with the digitization movement, Docebo (TSX:DCBO)(NASDAQ:DCBO) is another company that is poised to grow over the coming years. The company provides a cloud-based, AI-powered eLearning platform for enterprises. In the age of working from home, there’s no wonder Docebo stock performed the way it did last year. From its lowest to highest points in 2020, Docebo stock gained more than 650%.
Today, Docebo trades about 40% from its all-time highs. However, it is still up about 275% in value over the past year. That is an incredible run considering the company held its IPO late in 2019. Docebo has a lot of things going for it including an integration with Salesforce and a multi-year partnership with Amazon to power its AWS Training and Certification offerings. Docebo has been hit heavily over the past few months, but the future is as bright as ever.
Powering tomorrow’s society
Over the past two years, no other renewable energy company has been as appealing an investment as Brookfield Renewable Partners (TSX:BEP.UN)(NYSE:BEP). The company is one of the largest renewable energy producers in the world, and its management team has been prioritizing growth as of late. Brookfield Renewable has several projects under construction, which will nearly double its production capacity over the coming years.
In 2020, Joe Biden made a big statement when he announced plans of a $400 billion investment in the clean energy sector over the next 10 years. Thus far, he has yet to make good on that promise, but the new president of the United States has been making progress in terms of creating a sustainable future. When the time does come around, you can rest assured knowing Brookfield Renewable will be one of the greatest beneficiaries.
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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.
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Fool contributor Jed Lloren owns shares of Brookfield Renewable Partners, Docebo Inc., and Shopify. David Gardner owns shares of Amazon. Tom Gardner owns shares of Salesforce.com and Shopify. The Motley Fool owns shares of and recommends Amazon, Salesforce.com, Shopify, and Shopify and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon.