It’s no secret that some of the best investments you can make are in Canadian growth stocks. Companies that can consistently outpace the rest of the market are the types of businesses we want to look for.
While many companies can be considered growth stocks, it’s a lot rarer to find a revolutionary company.
Major growth stocks have the opportunity to earn investors major returns. Shopify, for example, is up over 3,600% in just the last five years. So, these Canadian growth stocks have a tonne of potential.
When looking for revolutionary stocks, the business and its management are crucial. However, what might be even more important is the industry it operates in.
Often, the best stocks will be great companies. However, they will also be operating in rapidly growing industries. So, it’s crucial that — in addition to analyzing the business — investors look to see how much potential the industry has.
Here are three revolutionary Canadian stocks operating in rapidly growing industries.
A top Canadian growth stock
One of the most revolutionary, long-term growth stocks in Canada continues to be Drone Delivery Canada (TSXV: FLT).
Drone Delivery Canada is a stock that’s offered incredible potential for a few years now. It wasn’t until last year, though, that investors started to take notice, and the stock began to rally as a result.
Drone Delivery started out in 2014, and in under a decade, the Canadian growth stock has made huge strides. In addition to being a traditional delivery company like you would think, the company also believes there’s room for growth in several industries.
Healthcare, airports, remote communities, as well as for industrial/commercial purposes are just some of the early industries the company is targeting.
It’s still early, and the company continues to develop its operations. However, this is the perfect time to buy while the stock trades at a nearly 50% discount to its 52-week high.
A high-potential cryptocurrency stock
Another revolutionary Canadian growth stock to consider as a long-term investment is HIVE Blockchain Technologies (TSXV:HIVE).
HIVE is a cryptocurrency mining company. That’s why it’s such an impressive growth stock with the potential to grow rapidly as the cryptocurrency industry gains popularity. In just the last year, HIVE is up over 2,000%.
The Bitcoin and cryptocurrency revolution is just getting started. That’s why so many investors have been jumping on the bandwagon. It’s also why a cryptocurrency stock like HIVE has so much growth potential.
Mining companies naturally have leverage to the assets that they produce. HIVE specifically has potential not just for its Bitcoin exposure but more for its exposure to Ethereum.
Ethereum is an open-source blockchain with smart contract technology. Ether, the native cryptocurrency of Ethereum, is the second-highest market cap cryptocurrency after Bitcoin. However, the Ethereum blockchain is the most actively used.
As developers continue to innovate and build new smart contracts, Ethereum should continue to gain popularity, which is why many in the crypto industry are far more bullish on Ethereum long term than they are Bitcoin.
If you tend to agree, HIVE is one of the best Canadian growth stocks you can buy today.
A top e-commerce growth stock
Lastly, another revolutionary Canadian growth stock to buy while it’s still cheap is WeCommerce Holdings (TSXV: WE).
WeCommerce, as you might guess from its name, is an e-commerce stock with huge potential. Plus, after the recent sell-off, it’s offering investors a considerable discount.
The company owns and acquires some of the most useful Shopify tools and businesses. There’s no question that Shopify has been one of the biggest disruptors in years.
So, WeCommerce is looking to piggyback off that growth, investing in businesses on Shopify’s platform. These companies offer apps, themes, and services to merchants using Shopify’s platform, giving WeCommerce natural room to grow.
The e-commerce industry is just getting started, and Shopify continues to be one of the best companies in the space. So, the fact that WeCommerce is set up to benefit from that increase in popularity makes the Canadian growth stock a highly attractive investment today.
