3 Unstoppable Canadian Growth Stocks You Can Buy Right Now for Less Than $100

If you’re a growth investor looking for a top Canadian stock to buy now, these three companies offer exceptional long-term potential.

| More on:
Growing plant shoots on coins

Image source: Getty Images

When it comes to finding great investments, high-quality Canadian growth stocks that can expand their operations for years are some of the best you can buy.

Some stocks can have periods of rapid growth followed by periods of stagnant growth, where they struggle to find new ways to bring in revenue. But the best stocks will be businesses that have differentiated themselves and clearly proven that they can consistently expand their operations and grow value for shareholders.

So, if you’re looking for some of the top Canadian growth stocks to buy, here are three of the best to consider today.

An incredible crypto stock to buy and hold for the long haul

In this market environment, some of the best growth stocks to buy if you can stomach the volatility will be crypto stocks. That’s why Galaxy Digital Holdings (TSX:GLXY), in my view, the top crypto stock in Canada, is one of the top Canadian growth stocks to buy right now.

In addition to the fact that its stock is considerably cheap right now, almost 50% off its all-time high, the growth potential the stock offers is actually a more compelling reason to invest.

Galaxy has built an incredibly diverse financial services business that serves the cryptocurrency industry. Whether it’s creating investment funds, so Canadians can gain exposure to cryptocurrencies, market-making for institutional and high-net-worth clients, or even offering investment banking services to cryptocurrency companies, Galaxy Digital is perfectly positioned to benefit from the ongoing boom in the cryptocurrency industry.

While this unstoppable Canadian growth stock is still cheap, I’d consider it one of the best to buy today.

A top retail growth stock to buy right now

Another excellent Canadian growth stock to buy now that continues to impress is Aritzia (TSX:ATZ). Aritzia is a vertically integrated women’s fashion retailer that has been growing rapidly across North America.

While most of its boutiques started out in Canada, lately, it has been rapidly expanding across the United States with much of the same success.

Aritzia’s entire strategy is refreshing, and, therefore, not surprising it’s been this successful. The company has managed to carve out its own share of the market, making fashion products that are more luxurious and desirable than fast fashion items, but at prices that are still far cheaper than true luxury brands.

In addition, it committed to building its e-commerce platform long before the pandemic and intends to use its wildly successful boutiques as a physical cash flow-generating marketing platform for its new products.

All this has resulted in impressive growth, with the retail stock performing exceptionally well through the pandemic. In fact, over the last three years, investors have earned a total return of almost 200% or a more than 42% compounded annual growth rate.

So, if you’re looking for a truly unstoppable Canadian growth stock to buy now, Aritzia is one that continues to impress.

A top residential real estate stock for long-term investors

Last but certainly not least is a residential real estate stock, InterRent REIT (TSX:IIP.UN). InterRent is an incredibly successful real estate stock that has been growing investors’ capital rapidly and consistently for over a decade.

The company has taken full advantage of the booming housing market in Canada as well as ultra-low interest rates. It’s done this by consistently making high-quality acquisitions to expand its portfolio. It’s also heavily invested in upgrading the properties it owns in order to not only increase the net asset value for investors but also significantly increase the cash flow each property yields.

This has been exceptionally successful, with investors over the last decade earning a total return of 600%. It’s hard to find any investment as safe as residential real estate that can grow your investment by 600% in just 10 years.

So, if it’s a high-quality growth stock you’re looking to buy, InterRent is one of the best Canadian real estate stocks you can 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 Galaxy Digital Holdings Ltd. and INTERRENT REAL ESTATE INVESTMENT TRUST. The Motley Fool has no position in any of the stocks mentioned.

More on Stocks for Beginners

A plant grows from coins.
Dividend Stocks

2 Young TSX Stocks You’ll Be Glad You Bought in 10 Years

Youth means nothing when you plan to hold strong companies long term. These two TSX stocks should therefore be first…

Read more »

Financial technology concept.
Dividend Stocks

2 TSX Value Stocks to Buy for Peace of Mind (and a Crazy-Good Deal)

2 TSX stocks that could outperform in the long term.

Read more »

Double exposure of a businessman and stairs - Business Success Concept
Dividend Stocks

3 Value Stocks That Smart Investors Should Seriously Consider

You get it all with these stable stocks. They may have less growth now, but will have incredibly high growth…

Read more »

stock research, analyze data
Stocks for Beginners

Is Dollarama Stock a Buy Before its Q4 Earnings?

Dollarama stock has stayed resilient and notably outperformed markets in this bear market.

Read more »

edit Person using calculator next to charts and graphs
Stocks for Beginners

Where to Invest $10,000 in March 2023

Here are two options at either end of the risk spectrum for a $10,000 lump sum investment.

Read more »

oil and gas pipeline
Energy Stocks

Why Tourmaline Oil Stock Just Fell to 52-week Lows?

The recent correction in Tourmaline Oil stock could be an opportunity.

Read more »

Credit card, online shopping, retail
Stocks for Beginners

TFSA Investors: How to Tackle Debt for Good and Come Out on Top

If you have tons of debt and it's become overwhelming, using the "snowball method" can certainly help you tackle it,…

Read more »

tsx today
Stocks for Beginners

TSX Today: What to Watch for in Stocks on Tuesday, March 21

TSX investors may want to closely monitor the latest domestic inflation report today.

Read more »