3 Growth Stocks I’d Buy With $3,000

Investors ready to invest $3,000 into stocks could consider shares like Shopify to outshine the broader markets and create wealth.

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Investors ready to put their savings into growth stocks should look for companies with solid fundamentals and the ability to grow their sales and earnings. Additionally, one must consider investing in shares of companies belonging to industries with the potential to perform well in the future. Importantly, this entails diversifying a portfolio to spread risk. 

Against this backdrop, let’s look at three Canadian stocks I’d buy with $3,000 to beat the broader market in the long term.


Dollarama (TSX:DOL) is an attractive investment for investors seeking growth, stability, and income. The retailer operates in a resilient sector that thrives in all economic situations. By offering products at fixed and low prices, Dollarama attracts budget-conscious shoppers and consistently delivers solid financial performance. 

Thanks to its solid financial and operating performance, Dollarama stock has grown at a CAGR (compound annual growth rate) of 24% over the last five years, beating the broader market by a wide range. In addition, Dollarama enhances its shareholders’ value by consistently growing its annual dividend payments. 

Looking to the future, Dollarama is well-positioned to deliver solid growth led by its value-pricing strategy. Moreover, its expansive store network and operational efficiency cushion its earnings, enabling the company to reward shareholders with increased dividend distributions.


Shopify (TSX:SHOP) is another lucrative growth stock poised to deliver massive returns over the long term. The e-commerce platform provider is set to capitalize on the ongoing transition in selling models towards omnichannel platforms.

Despite macroeconomic challenges, Shopify’s stock has exhibited a robust recovery, witnessing an impressive year-to-date rally of nearly 105%. This rebound underscores its ability to grow sales rapidly. Additionally, the increase in the adoption of its products, such as Payments and Capital, and the expansion of sales and marketing channels indicate that Shopify is well-positioned to expand its merchant base, transaction volumes, and overall revenues.

It’s worth highlighting that Shopify’s focus on optimizing its operations, cost reduction initiatives, and commitment to generating sustainable earnings are likely to support the upward trajectory of its stock. To sum up, the resilience of its revenue streams, higher gross merchandise volumes, and focus on profitability augur well for growth. Moreover, the company’s positive outlook on the attach rate strengthens my optimism about its prospects. 


Aritzia (TSX:ATZ) is the final stock on my list. Notably, shares of this luxury apparel design house have lost substantial value year to date (down nearly 49%) due to the deceleration in its sales growth rate. However, this presents a solid opportunity to buy its shares at a discounted valuation. 

The company is focusing on its product development schedule to introduce new styles, ensuring a constant stream of fresh assortments. Additionally, strategic initiatives such as opening new boutiques, targeted pricing adjustments, and a robust e-commerce channel are expected to bolster its top-line growth, which is projected to grow at a CAGR of 15–17% through 2027.

Besides the leverage from higher sales, Aritzia’s focus on reducing its cost structure and opening its new distribution centre will support its margins and profitability, consequently driving its share price higher.

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 Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Aritzia and Shopify. The Motley Fool has a disclosure policy.

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