5 TSX Stocks to Buy in June That Could Make You Very Rich

The revival in consumer demand, economic expansion, and increased online spending provide a long runway of opportunities for several TSX-listed stocks.

| More on:
Profit dial turned up to maximum

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn more

The revival in consumer demand, economic expansion, and increased online spending provide a long runway of opportunities for several TSX-listed stocks. We’ll focus on five TSX stocks with solid fundamentals and multiple growth catalysts to deliver stellar returns in the coming years. 


Cargojet (TSX:CJT) has made its investors very rich and delivered a phenomenal return of 2,577% in the past decade. Further, the air cargo company has ample growth catalysts that could continue to drive its stock higher over the next decade. The continued momentum in the domestic and international business and higher client-retention rate augurs well for future growth. 

Cargojet is witnessing increased demand from the e-commerce vertical. Meanwhile, speed to market, price hikes, international growth opportunities, and next-day delivery capabilities are likely to drive stellar growth in its sales and profitability. Cargojet stock has reversed some of its gains and is trading at an attractive price. Its long-term contracts, network optimization, and cost-saving initiatives further strengthen my bullish view. 


Shopify (TSX:SHOP)(NYSE:SHOP) is a must-have stock in your long-term portfolio, thanks to secular industry trends, its growing market share, and continued investments in growth opportunities. Its stock has delivered sky-high returns (appreciated 3,827%) in five years and could continue to deliver strong growth in the coming years, reflecting increased demand for its e-commerce platform. 

I believe the growing spending on e-commerce platforms, expansion of its fulfillment network, the addition of high-growth sales and marketing channels, increased adoption of its retail POS, and up-selling opportunities provide a solid foundation for future growth. 


goeasy (TSX:GSY) has created a significant amount of wealth for its investors in the past decade. Its stock appreciated by 2,204% in 10 years. Also, goeasy bolstered its shareholders’ returns through regular dividend payments and has increased it by about 34% annually in the last seven years. The company’s profitability has consistently grown at a double-digit rate in the past several years, and I expect the rate of growth to remain elevated in the coming years.

Higher consumer demand is likely to drive its loan portfolio. Meanwhile, growth in loan size, increased penetration of secured loans, a large addressable market, and operating leverage are likely to drive its earnings at a breakneck pace. Further, strategic acquisitions, new products, and channel expansion are likely to accelerate its growth and support higher dividend payments. 

Dye & Durham

I expect Dye & Durham (TSX:DND) stock to deliver multifold returns in the coming years on the back of solid momentum in its revenues and adjusted EBITDA and its ability to acquire and integrate businesses that augment its growth. Dye & Durham stock has appreciated over 230% since it got listed on the TSX in July 2020, and I see further upside.

The synergies from its recent acquisitions, large blue-chip customer base, revenue diversification, and long-term contracts are likely to drive stellar growth in its revenues and adjusted EBITDA. Further, its solid adjusted EBITDA growth outlook, strong balance sheet, and robust M&A pipeline augur well for future growth. 


Lightspeed POS (TSX:LSPD)(NYSE:LSPD) is another high-growth stock that’s poised to deliver outsized returns in the long run. Its top line is growing at an astounding rate, thanks to the favourable industry trends, a continued shift in selling models to omnichannel platforms, and increased demand for its digital offerings. 

The company is growing rapidly, adding new customers fast and expanding in the high-growth markets and categories through strategic acquisitions. With continued momentum in its base business, expansion of product range, growing global footprint, and accretive acquisitions, Lightspeed could deliver phenomenal returns in the coming years. 

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 Sneha Nahata has no position in any of the stocks mentioned. Tom Gardner owns shares of Shopify. The Motley Fool owns shares of and recommends CARGOJET INC., Shopify, and Shopify. The Motley Fool owns shares of Lightspeed POS Inc and recommends the following options: long January 2023 $1140 calls on Shopify and short January 2023 $1160 calls on Shopify.

More on Tech Stocks

Growth from coins
Tech Stocks

Got $1,000? Buy These 3 Under-$20 Growth Stocks to Earn Higher Returns

These under-$20 growth stocks can deliver solid returns in the long run.

Read more »

Shopping card with boxes labelled REITs, ETFs, Bonds, Stocks
Tech Stocks

TFSA Investors: 3 TSX Stocks You’ll Regret Not Buying on the Dip

Among wide range of investments allowed in a TFSA, now is the time to invest in stocks.

Read more »

Tired or stressed businessman sitting on the walkway in panic digital stock market financial background
Tech Stocks

2 Stocks That Lost Over 50% in 2022

The recovery of the TSX’s tech superstar and a promising high-growth stock that lost more than 50% in 2022 is…

Read more »

Man holding magnifying glass over a document
Tech Stocks

Why BlackBerry Stock Looks Way Too Undervalued After Q1 Earnings

BB stock hasn’t seen any appreciation lately, despite its continued progress on the IVY platform and early signs of the…

Read more »

A stock price graph showing declines
Tech Stocks

BlackBerry Q1 Earnings: The Declining Revenue Streak Continues!

Will BB stock break below $6?

Read more »

A bull outlined against a field
Tech Stocks

After the Recent Fall, it’s Time to Turn Bullish on 2 TSX Growth Stocks

With the kind of lows these TSX stocks have seen, the negatives appear to be priced in.

Read more »

man sitting in front of 3 screens programming
Tech Stocks

3 Ultra-Cheap Tech Stocks to Consider Buying

Three ultra-cheap tech stocks are interesting picks for their favourable business outlooks and long growth runways.

Read more »

Question marks in a pile
Tech Stocks

Crypto Selloff: Has the Bottom Shifted After the Interest Rate Hike?

The measures taken to control the inflation in the U.S. and Canada, including an increase in interest rates, can adversely…

Read more »