If you are a stock market investor who wants to generate massive returns on your investment, you might have been considering investing in technology. The Canadian tech space boasts several high-growth stocks that have made many investors far wealthier due to stellar shareholder returns.
2021 was tougher on the tech sector, seeing several top names trading on the TSX decline in valuations due to the broader pullback in the industry. As the year draws to an end and 2022 looms closer, the tech industry looks like it is back on track to deliver a strong performance again.
I will discuss three stocks that could become massive in 2022 and deliver substantial wealth growth to shareholders to help you understand why you should have the companies on your radar today.
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Shopify
Shopify (TSX:SHOP)(NYSE:SHOP) has been on the top of the list for many Canadian investors since it burst onto the scene on the TSX. The Canadian tech stock has delivered multi-bagger shareholder returns with impressive growth in just a few years, overtaking Royal Bank of Canada stock, with its massive $241.20 billion market capitalization, as the top Canadian stock in terms of market cap.
The Canadian growth stock is already the largest TSX stock as of writing. The recent pullback in the tech sector significantly pulled down its share prices before the tech firm began delivering further growth. At writing, Shopify stock is trading for $1,919.64 per share. It is up by over 37% year to date and could deliver further capital gains in the coming years.
Docebo
Docebo (TSX:DCBO)(NASDAQ:DCBO) is a small-cap stock that has not yet seen Shopify stock’s success on the TSX. If you want to beat the broader market by a wide margin, it could be worth your while to consider investing in Docebo stock. The small-cap stock had its initial public offering (IPO) in October 2019, and it is trading for $90.43 per share at writing. It has appreciated by 564% since its debut on the TSX.
A significant reason for the company’s rapid growth is the evolving work environment amid the pandemic. Docebo provides the best-in-class eLearning platform that uses cloud technology and AI to help enterprises train employees. As the remote work culture remains the norm, Docebo stock could have a massive runway to deliver further growth before the tech stock slows down.
Topicus.com
Topicus.com (TSXV:TOI) might be a new entity on the stock market, but it comes with a wealth of experience that Shopify stock and Docebo stock do not possess. The company is a former subsidiary of Constellation Software. The board of directors running Topicus is composed of executives from the former parent company, and they bring plenty of experience into the new company,
Topicus stock will likely lean on the approach of its former parent company to acquire tech companies across various verticals and grow them to enjoy stellar returns. Topicus.com will utilize the same method in the European market to capitalize on the potential there and likely deliver substantial wealth growth to shareholders in the long run. At writing, the stock is trading for $137.04 per share, and it is already up by 116% year to date.
Foolish takeaway
It is impossible to say whether these three tech stocks will soar with certainty as with any investment. However, the changing global landscape and consumer habits strongly indicate that these three tech firms could become massive in the coming years. The year 2022 could see Shopify stock, Docebo stock, and Topicus.com stock appreciate significantly.
