The next decade is set to be an intense one for Canadians and investors in general. Canadian stocks in certain industries are set to soar amid a large amount of investment from both private and government agencies. In particular, the industries of Electric Vehicles (EV), renewable energy and e-commerce should continue to thrive in the decade to come.
So if you’re looking for long-term holds for the next decade, consider these three Canadian stocks.
Top Canadian stocks in e-commerce
There is really only one top Canadian stock in the e-commerce industry today, and that’s Shopify (TSX:SHOP)(NYSE:SHOP). Shopify stock was on a tear during the pandemic, with revenue sky-rocketing as merchants signed on. Today, shares are down 27% from all-time highs as investors fear post-pandemic Shopify stock can’t keep up.
But e-commerce is set to explode in the next decade, which is completely unrelated to the pandemic. In fact, just this year alone e-commerce sales are estimated to reach $4.2 trillion globally! In March 2021 alone, Americans spent 49% more to $78 billion online, and that’s not simply going to disappear.
Shopify stock is now a market leader in e-commerce, with multiple partnerships and revenue streams to bring in sales. While the stock may be down, don’t count it out. After all, it’s still up about 4,000% in just five years! Buy up Canadian stocks like this one today and hold on for the next decade and you should see massive growth.
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Multiple car manufacturers have stated that by 2030, most of their cars will be at least partially electric. By 2040, many believe they will have a full fleet of EVs. So if investors are looking to invest anywhere for the next decade, EVs are the place to do it. And you can still find Canadian stocks to get you that growth.
BlackBerry (TSX:BB)(NYSE:BB) is one that could see massive growth from this investment in EVs. The company’s QNX software is provided in electric cars and even ICE vehicles with electric dashboards. So you can see revenue come in now and increase down the line from BlackBerry stock, especially as it improves its cloud-based platform.
Shares have slumped during the recent pullback, but that leaves a bargain to be had. Investors could easily see their shares double in the next few years. In the next decade BlackBerry stock could turn into a multi-bagger!
Brookfield Renewable Partners (TSX:BEP.UN)(NYSE:BEP) is the best way to go green. You can invest in Canadian stocks that provide clean energy across a diverse range of products around the world. Meanwhile, you’ll get green as shares rise and the company acquires more properties.
Unlike other renewable energy companies, Brookfield has history to back up its progress. In the last decade alone, shares have grown 532%. Meanwhile, shares are still up 33% in the last year despite the pullback. So investors can receive a potential upside of about 40% as of writing to reach previous highs and look forward to years of growth as the world continues investing in clean energy solutions.
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 owns shares of Brookfield Renewable Partners and Shopify. Tom Gardner owns shares of Shopify. The Motley Fool owns shares of and recommends Shopify and Shopify. The Motley Fool recommends BlackBerry and BlackBerry and recommends the following options: long January 2023 $1140 calls on Shopify and short January 2023 $1160 calls on Shopify.