3 Growth Stocks I’d Buy With $3,000

Growth stocks like goeasy have the potential to beat the broader market average by a wide margin and deliver stellar returns.

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Investors looking for shares that would multiply their investments could consider investing in growth stocks. While growth stocks tend to outperform broader market indices, it’s important to note that they are highly volatile. 

Therefore, one should exercise caution in selecting growth stocks. Investors can consider shares of fundamentally strong companies with the potential to rapidly grow their sales and earnings. Against this backdrop, here are three Canadian stocks I’d buy with $3,000. 


goeasy (TSX:GSY) is one of my top picks to create wealth in the long term. It has consistently delivered stellar returns and outperformed the broader market average by a wide margin. For instance, this growth stock has gained over 333% in five years. This implies that shares of this subprime lender sport a compound annual growth rate (CAGR) of 34%. 

The significant appreciation in goeasy stock is based on the company’s ability to consistently deliver double-digit sales and earnings growth. For instance, goeasy’s five-year revenue (as of December 31, 2023) CAGR is 19.82%. At the same time, its earnings per share (EPS) increased at a CAGR of 31.9%. 

Looking ahead, the momentum goeasy’s business will likely sustain, driven by higher loan originations, omnichannel offerings, a large addressable market, solid underwriting capabilities, and efficiency improvements. In addition, its strong balance sheet, geographic expansion, and diversified funding sources will support its growth. 

Further, goeasy has raised dividends for nine consecutive years. Its growing earnings base indicates that goeasy will likely boost its shareholders’ returns with higher dividends in the coming years. 


Aritzia (TSX:ATZ) stock has regained some of its lost ground in 2024. However, it is still trading well below its 52-week high. The moderation in its growth rate weighed on its share price. However, the company’s focus on expanding its footprint by opening new boutiques, introducing new styles, and omnichannel offerings will likely re-accelerate its growth. 

Aritzia aims to launch eight to 10 new boutiques annually through FY27. These additions will contribute positively to revenue and profitability as they are expected to achieve breakeven swiftly. Additionally, the company is enhancing its online customer experiences and expanding omnichannel offerings like in-store shipping and online ordering with in-store pickup. 

Further, Aritzia has doubled its style offerings over the last five years, broadened its product range, and entered the menswear market. These endeavours position the company to deliver mid-teens sales growth in the foreseeable future. With increased sales, reduced inventory management expenses, and operational efficiencies, Aritzia could deliver double-digit earnings growth, which is expected to bolster its stock performance.


Dollarama (TSX:DOL) is another excellent growth stock. It is less volatile as it operates a defensive business and offers products at low and fixed price points. This retailer’s value pricing strategy, broad product range, and extensive store base have consistently driven traffic and, in turn, its sales and earnings. 

Thanks to its solid financials, Dollarama stock has grown at a CAGR of 24.3% in the past five years, delivering a return of nearly 197%. Further, it has returned cash to its shareholders through increased dividend payments. 

The momentum in its sales and earnings will likely be sustained, driven by its value pricing strategy, growing store base, and focus on reducing merchandise costs. Moreover, this is likely to distribute higher dividends in the coming years.

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. The Motley Fool has a disclosure policy.

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