Investors love to buy stocks during bull markets. In a way, it kind of makes sense because you generally see stocks skyrocket in value. In turn, that helps grow your portfolio. On the flip side, investors tend to be very hesitant to buy shares during bear markets — this is when the market is on a downtrend. What’s interesting is that by having the opposite mindset, investors could put themselves in a better position for the future.
The reason having the opposite mindset can be helpful is because during bull markets, it could be nearly impossible to find good deals on your favourite stocks. Whereas, during bear markets, investors should be able to find a large number of outstanding deals in the market. So far this year, investors have been treated to a roller coaster of a year. The market can’t seem to make up its mind on whether it’ll go up or down on any given week.
With that said, I think investors should take this as an opportunity to pick up shares of outstanding stocks when deals present themselves. In this article, I’ll discuss two spectacular growth stocks to buy now and hold forever.
A great growth stock for your portfolio
If there’s one growth stock that investors should buy now, it would be Constellation Software (TSX:CSU). In my opinion, this is one of the best growth stocks in the world. For those who are unfamiliar with this company, you should know that it’s a tech conglomerate. Constellation Software acquires vertical market software (VMS) businesses and helps those acquisitions become outstanding business units.
For most of its history, Constellation Software has focused on small- and medium-sized VMS businesses. However, for the past two years, the company has begun to target large VMS businesses for acquisition. This new direction has allowed Constellation Software to continue adding value to the company, which has been reflected in its stock price.
Fortunately for investors, after climbing more than 50% since mid-2022, Constellation Software stock has finally levelled out. I think it’s a great chance to get in on a generational stock.
Don’t miss out on this company
Alimentation Couche-Tard (TSX:ATD) is another growth stock that investors should consider buying today. Many Canadians outside of Quebec may not be very familiar with this name. But perhaps you’re more familiar with some of the other banners that this company operates under. This includes Circle K, On the Run, Mac’s, Dairy Mary and many more. Altogether, Alimentation Couche-Tard operates more than 14,000 locations across 25 countries and territories.
Although the broader stock market has had trouble increasing in value, Alimentation Couche-Tard stock has continued to reach new heights. So far this year, the stock has gained more than 22%. I believe that if a stock can perform that strongly during tough economic conditions, then it deserves a vote of confidence during better market conditions. With that being said, I think investors should consider adding Alimentation Couche-Tard to their portfolio today.
