Got $1,500? 3 Top Canadian Growth Stocks to Buy Now!

If you’ve got cash to buy some high-quality Canadian growth stocks, I’d start with this trio, offering superior potential over the coming years.

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Heading into the second half of the year, there are tonnes of opportunities for investors today. Whether it’s value stocks, dividend stocks, or growth stocks, there are plenty of high-quality Canadian companies to buy now.

After a year of stocks recovering, though, some of the best opportunities today lie with growth stocks.

Stocks across numerous sectors are looking forward to life after the pandemic setting their growth strategies. Now is the time for these companies to excel over the next few years and separate themselves from their competitors.

So, if you have the cash to invest today and are looking for high-quality Canadian growth stocks to buy now, here are three of the best choices.

A top Canadian retail stock

As retail continues to see restrictions lifted across Canada, one of the top Canadian growth stocks to consider is Aritzia (TSX:ATZ). The company is reporting earnings later today, so it will be interesting to see how it’s fared over the last few months.

Aritzia is an extremely successful fashion and retail company that’s seeing explosive growth across North America.

One of the main reasons the company has been so successful is due to its vertical integration. However, it’s also carved out its own niche market in the fashion industry.

The company offers products that are a lot more appealing to consumers than fast-fashion retailers. However, the products are priced more affordably than luxury fashion retailers. This strategy has paid dividends so far for Aritzia in its early growth as a company.

Another key factor to its success has been its website. E-commerce was already important to Aritzia, even before the pandemic hit.

The company’s strategy was to use its boutiques as advertisements and help drive sales across all its channels. And while that’s a prudent strategy, it hasn’t necessarily been needed, as each Aritzia boutique the company has opened has been hugely successful.

It expanded rapidly across Canada in the past, and now it’s expanding in the massive U.S. market. So, if you’re looking for a top Canadian growth stock to buy today, Aritzia is one of the best there is.

A top Canadian healthcare stock

Another high-quality, highly popular stock to consider today is WELL Health Technologies (TSX:WELL).

WELL gained a tonne of popularity last year during the height of the pandemic. And while that’s understandable, WELL was a top Canadian growth stock to buy before the pandemic and continues to offer some of the best long-term potential today.

The Canadian healthcare industry has been in desperate need of innovation and disruption for years. And that’s exactly what WELL is aiming to do.

Of course, telehealth and digital health applications are some of the first products to come to mind. However, even medical records being stored electronically is a growing business in Canadian healthcare.

And on top of WELL having these attractive businesses in its portfolio, the company has also proven to investors time and again that it can grow rapidly by acquisition.

So, if you’re looking for a top Canadian growth stock to buy today, WELL Health is the ideal long-term investment.

A top long-term Canadian growth stock

Lastly, one of the best growth stocks in Canada for years now has been Alimentation Couche-Tard (TSX:ATD.B).

Couche-Tard is a gas station and convenience store operator that’s also grown rapidly by acquisition in the past. As a result, its growth has been tremendous, and the company has been highly successful, earning investors a return of roughly 900% over the last decade.

Couche-Tard is an ideal investment because, on top of the fact that it’s a high-quality growth stock, the company is also highly defensive.

This allows the company to perform a lot better, even through economic downturns, which is why it’s such a great investment, especially over the long term through numerous market cycles.

Its portfolio owns businesses all across the world, and the company is continuously looking for new businesses to acquire and new organic ways to grow the company.

So, any time you’re looking to buy a top Canadian growth stock, Couche-Tard is always one of the best to consider.

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 Daniel Da Costa owns shares of WELL Health Technologies Corp. The Motley Fool owns shares of and recommends ALIMENTATION COUCHE-TARD INC.

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