BlackBerry (TSX: BB)(NYSE: BB) stock has once again been in the news lately. Among others commonly pumped on Reddit, the stock has been highly volatile the last few weeks.
Anytime stocks gain so much in such little time, it’s bound to catch the attention of investors. However, as we’ve seen before, even if you like BlackBerry as a long-term investment, it’s not worth a buy at these inflated prices.
BlackBerry is a stock that has potential, except a lot of it is long term. For the stock to be worth an investment today, it would have to be well below its fair value, which is closer to $10 a share, as opposed to above $16, where it closed Thursday,
It’s certainly not worth $20 a share, which has been the resistance level during this recent rally, or $30, which the stock reached back in January.
So, rather than speculate on BlackBerry’s stock price today, I’d consider these two tech stocks that can make you a boatload of money.
Forget BlackBerry: I’d buy this top Canadian tech stock
One of the top Canadian tech stocks to buy today is the recently spun-off company Topicus.com (TSXV: TOI).
Topicus.com was spun off from Constellation Software, one of the best Canadian growth stocks of all time. Topicus.com is attractive, because it’s a business with much of the same strategy as Constellation had.
It’s predominantly a growth-by-acquisition business focusing on software catering to vertical markets. By focusing on vertical markets, Topicus.com can build a portfolio of several different software businesses, which all offer attractive synergies.
And because Topicus.com is operating a business model that’s proven but is a lot smaller, it offers tremendous growth potential over the coming years. Especially at these prices, it’s a much better choice than BlackBerry stock.
Currently, Topicus.com is trading 10% off its high and at a market cap of just $3.4 billion. Compare that to Constellation Software’s $40 billion market cap, and it’s clear the growth potential that Topicus.com could have.
So, if you’re looking for a top Canadian tech stock to buy today, Topicus.com is considerably better than BlackBerry stock.
A top crypto stock to buy for the long run
Another high-quality company offering way more potential than BlackBerry stock today is Galaxy Digital Holdings (TSX: GLXY).
In my view, Galaxy Digital is one of the best ways to invest in the high-potential cryptocurrency industry. You could, of course, invest in cryptocurrencies directly or mining companies with high potential.
However, one of the best ways to take advantage of this growing popularity is through a financial services company like Galaxy, which specializes in the crypto and blockchain industries.
It’s a business that will naturally grow with the sector. However, because it has an impressive strategy, high-quality management team, and top-notch operations, it could outperform the crypto industry.
One of its products, for example, is the CI Glaxay Bitcoin ETF, which offers investors exposure to Bitcoin. It also serves high-net-worth clients and other crypto businesses. Furthermore, it even has a venture capital segment and mining segment.
So, not only is Galaxy Digital not overpriced like BlackBerry, but it also offers some of the best long-term potential of any Canadian growth stock.
