When it comes to diversifying your portfolio, owning stocks from several different industries is crucial. Some sectors of the market, though, such as tech stocks, are a lot more important to buy than others.
These days, tech stocks are some of the best businesses to buy if you’re looking for an investment that can grow your capital rapidly. So, it’s one of the most important industries you’ll want to make sure you have exposure to.
Tech stocks aren’t the easiest businesses to invest in, though. It is especially difficult to predict how well smaller tech stocks can grow and whether or not they can outperform their competitors.
The problem is, without exposure to tech stocks, not only will your portfolio need to get a lot more growth from other industries, but you’ll almost certainly underperform the market.
So, if you’re looking to add some growth to your portfolio, here are three tech stocks to buy that are all under $30 a share.
The top crypto stock in Canada
Cryptocurrency companies are some of the best tech stocks to buy today. There are a tonne of opportunities to invest in different crypto stocks, but the best company has to be Galaxy Digital (TSX: GLXY).
While Galaxy is currently below $30 a share, it may not be for long. The stock has been hot lately, gaining significant momentum and is still well off its all-time high, reached earlier this year.
Galaxy is particularly attractive, because it’s a leader in many aspects when it comes to crypto. The company has several different segments that offer investors both diversification but also more opportunities, making it the top long-term growth stock to buy in the sector.
Whether it’s offering ETFs to retail investors for easy exposure to cryptocurrencies, advising investment banking clients on mergers and acquisitions, operating its own mining business or even funding high-potential, up-and-coming blockchain technology companies, Galaxy is doing it all.
So, if you’re bullish on crypto and want a high-quality tech stock to buy that you can own for years, Galaxy is your best bet.
A popular healthcare tech stock
Another top Canadian tech stock is WELL Health Technologies (TSX: WELL), which is currently trading around $7.40 a share — roughly 20% off its 52-week high.
WELL is one of the best Canadian tech stocks you can buy today. Not only is it one of the top stocks in its industry, but its industry is one of the best to be invested in if you’re looking for long-term growth.
WELL’s balance of physical clinics alongside its technology companies is what makes it such an excellent investment.
Not only is it already earning plenty of cash flow, but much of its focus is on high-potential businesses like its digital health apps or telehealth services. This gives the company a tonne of opportunity to continue expanding its operations.
So, if you’re looking for a top tech stock to buy now, WELL is one of the best in Canada.
A top tech stock to buy for long-term growth
Lastly is the cheapest stock on the list, Quarterhill (TSX: QTRH), which trades for just over $2.50 a share and has a market cap of $300 million. This makes it one of the cheapest and most opportune tech stocks to buy today.
Quarterhill is a growth-oriented investment company with two major wholly owned businesses in the intellectual property and intelligent transportation system industries.
IRD is a multi-disciplined tech company that’s a leader in the intelligent transportation system industry. The company manages traffic flow on more than 16,000 roads with its proprietary systems. Plus, all the data it collects from these roads is a major source of analytics for the entire transportation system.
WILAN, Quarterhill’s other wholly owned business, is focused on patent licensing. The company develops and commercializes newly patented ideas, then licenses them to corporations. It plays a crucial role in ensuring that third-party inventors get fair compensation for their intellectual property.
What’s most promising about Quarterhill’s business is its proven ability to grow by acquisition. Any high-quality company that it can help grow or that can help its existing businesses to grow, Quarterhill looks at buying.
So, if you’re looking for a high-quality tech stock to buy now, Quarterhill is one of the best to consider.
