The TSX today continues to improve, with investors finally realizing that downturns don’t actually last forever! This can give investors time to latch onto cheap stocks that could be the growth stocks of their dreams in the years to come.
The thing is, we’re still saving, just in case. That’s totally understandable. Because of this, it’s a great time to consider putting even $50 in the market. Such a small stake might not seem like much, but it could increase your investment over and over again in the right stock.
WELL Health
WELL Health Technologies (TSX: WELL) is one of those pandemic growth stocks that hit two major categories: healthcare and tech. The virtual healthcare provider surged in share price, as the world stayed home and still needed healthcare support. Yet when the dust settled, shares of the stock dropped lower and lower.
Yet there really wasn’t a good reason for it. WELL Health stock continues to provide record earnings reports, with the stock on the TSX today becoming the largest outpatient clinic in Canada. It’s now looking big, expanding to the United States and thinking internationally next.
A recent acquisition caused shares to jump by about 10%, as of writing. Now, shares are up 51% in the last year, though they are still down 5% in the last three months. Therefore, it could be a great time to pick up the essential and peak-performance stock.
StorageVault
If you’re looking for something else essential, storage can be an excellent choice on the TSX today. Sure, it’s not the most exciting, except when you think broadly. Small businesses have been growing ever larger over the last few years, with storage space needed for these businesses to thrive. This is where StorageVault Canada (TSX: SVI) has hopped in.
The company has entered the 21st century, creating online options for storage rental services and providing the perfect place to store products. Never mind that storage will always be around, given we all need it for things like displacement, downsizing, divorce, or death. That makes it one of the safest growth stocks around.
StorageVault stock is still down 1% in the last three months, however, and on par with where it was last year. The TSX today is filled with more exciting options, but this could mean you might see this stock rise to incredible heights once investors catch on.
Lightspeed Commerce
An oldie but a goodie, Lightspeed Commerce (TSX: LSPD) is also worth consideration and is still far lower than investors give it credit. Lightspeed stock plunged from all-time highs after a short-seller report, followed by the drop in tech stocks. Yet these days, it’s proving its worth once more.
The company has a renewed focus on its point-of-sale systems as well as bringing in larger, enterprise-level companies. This has caused revenue, earnings, and pretty much everything to have higher results than ever before.
Yet shares are on par with where they were last year, though they have been showing signs of life recently. Lightspeed stock is now up 29% in the last three months on the TSX today. So, it again could be a great time to scoop up this among other growth stocks while it’s on a streak.
