2021 has been an eventful year in markets. There has been a tonne of events, from meme stocks seeing massive rallies to a slight selloff of major tech stocks in the early months. We have seen the vaccination effort ramp up, and the economy recover well. And as the economy continues to progress forward, 2022 looks to be another year of significant opportunities for investors looking to buy Canadian stocks.
Now is the time to ensure that you’re positioned well for the next major bull market. And some of the best companies to own over the coming years will, of course, be top Canadian growth stocks.
So if you’re looking for a couple of ideas to consider, here are two top Canadian stocks I’m looking to buy ahead of 2022.
A massive financial stock to buy undervalued before 2022
One of the first stocks at the top of my watchlist and one of the best opportunities for investors today is Manulife Financial (TSX: MFC)(NYSE: MFC).
Manulife is a massive financial services company with a wealth and asset management business as well as its massive insurance segment. The company operates in Canada, the United States and Asia, where it sees a tonne of opportunity for growth.
One of the main reasons Manulife is a top Canadian stock I’m looking to buy heading into 2022 is that it can benefit significantly from rising interest rates. And as the economy continues to recover and inflation heats up, interest rates are going to need to be increased in the near term.
So the stock has a tonne of short-term growth potential in addition to the fact that it’s an excellent company to own long-term and has a tonne of potential in Asia.
The stock even pays an attractive dividend that yields more than 4.5% today. So if you’re looking for a top Canadian stock to buy for 2022, Manulife is an excellent company to consider.
A rapidly growing Canadian cryptocurrency stock
Another high-quality Canadian stock that you may want to buy as we approach 2022 is Voyager Digital (TSX: VOYG). Voyager is an exciting cryptocurrency company that’s built a platform allowing users to buy and sell more than 60 different cryptocurrencies. In addition, it also has its own token as well as a cryptocurrency exchange.
Last week, however, Voyager Digital came out with a business update that the market generally viewed as negative. While the company continued to grow its operations, the pace of the growth showed a clear slowdown.
What’s unclear, however, is the reason for this dip in the growth rate. It could just be a single-quarter impact. Bitcoin and Ether had been relatively quiet in the middle half of the year until only recently. Or, it could be due to the significant competition that a company like Voyager Digital faces.
Because of this uncertainty, it’s a stock I’ll be watching closely over the next few months. If the price looks appealing, though, and Voyager Digital can get back on the path to rapid growth, it’ll be an excellent Canadian stock to buy ahead of 2022.
So if you’re looking for some of the top opportunities heading into next year, I’d be watching Voyager Digital closely in the coming months too.
