A Bull Market Is Coming: 2 Spectacular Growth Stocks to Buy Now and Hold Forever

Are you looking for stocks to buy before the next bull market? Here are two top picks!

| More on:
A bull outlined against a field

Image source: Getty Images.

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.

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 Jed Lloren has positions in Constellation Software. The Motley Fool has positions in and recommends Alimentation Couche-Tard. The Motley Fool recommends Constellation Software. The Motley Fool has a disclosure policy.

More on Investing

stock research, analyze data
Dividend Stocks

How Much to Invest to Get $500 in Dividends Every Month

TSX dividend stocks such as Enbridge, TD Bank, and Telus, can help you earn $500 in monthly dividend payments.

Read more »

A solar cell panel generates power in a country mountain landscape.
Energy Stocks

Clean Energy Play: Is Brookfield Renewable a Good Stock for a TFSA?

Add this top renewable energy stock to your self-directed TFSA portfolio for significant long-term and tax-free wealth growth.

Read more »

Golden crown on a red velvet background
Dividend Stocks

Dividend Powerhouses: Canadian Stocks to Fuel Your Portfolio

These two top Canadian dividend aristocrats are some of the top stocks on the TSX to buy now and hold…

Read more »

Dial moving from 4G to 5G
Dividend Stocks

This Undervalued Dividend Stock is Worth Buying Right Now

Want an undervalued dividend stock with long-term potential and a juicy yield? Here's an option you may regret not buying…

Read more »

A worker gives a business presentation.
Dividend Stocks

1 Stock I’m Buying Hand Over Fist in July Despite the Market’s Pessimism

This top dividend stock is going through a rough patch, but don't let that count out all the growth we've…

Read more »

financial freedom sign
Investing

2 Stocks With Millionaire-Maker Potential

These two top Canadian stocks are among the best on the TSX, and each has the potential to be millionaire-maker…

Read more »

Piggy bank next to a financial report
Stocks for Beginners

Is It Finally the Right Time to Buy Bank Stocks?

Canadian bank stocks are some of the most secure investments out there, but of them all, this bank stock is…

Read more »

clock time
Investing

3 Blue-Chip Stocks Every Canadian Should Own

Want some reliable blue-chip Canadian stocks to buy and hold for the next 10 years? These three stocks are worth…

Read more »