The Best Stocks to Invest $1,000 in Right Now

These three are the best stocks your $1,000 can buy, with all seeing huge growth in the last year, but even more to come in 2024.

| More on:
Different industries to invest in

Image source: Getty Images

Canadian investors might be sitting on some strong opportunities right now. The market continues to trade around all-time highs, but it’s not there yet. And there are therefore still some deals that can be had before we enter a growth environment once again. So if you have $1,000 on hand that you’re ready to invest, these are the three best stocks to park your cash in right now.


Shares of Celestica (TSX:CLS) have surged in the last year as the company sees growth from the interest in semiconductor stocks. Celestica stock is a multinational electronics manufacturing services (EMS) company. The company provides a wide range of services including design, engineering, manufacturing, and supply chain management for various industries such as aerospace and defence, healthcare, industrial, and semiconductor.

It’s of course this last area that’s seen immense interest, as without Celestica stock, there wouldn’t be any semiconductors. Which is why the company has managed to expand so much, now spanning from Canada and the United States into China and Eastern Europe.

As interest continues to grow, so too will revenue for Celestica stock. Therefore, if you’re looking to gain from interest in semiconductors, it’s one of the best stocks I would certainly pick up today.

Lundin Mining

Another strong option that goes hand in hand with semiconductor stocks is Lundin Mining (TSX:LUN). True, a mining stock on the surface doesn’t have much to do with the sector. However, Lundin stock focuses much of its business on the production of copper.

Copper is used in everything from plumbing to circuit boards. The company has therefore focused about 60% of its business on the commodity, and good thing too. Demand is high, but production has been lower in the last few years for other companies. Yet for Lundin stock, it sees production of copper only increasing this year and beyond.

So with shares up by 46% in the last year and a dividend yield at 2.35%, it’s certainly another of the best stocks that you can invest in with that $1,000.


Finally, if you had a couple thousand dollars I would likely turn your attention to Constellation Software (TSX:CSU). However, if you don’t, then Topicus (TSXV:TOI) is a great secondary option. This company is a spinoff of CSU stock, both run by management that includes Mark Leonard, founder and CEO of CSU stock.

These companies engage in the acquisition of software firms in niche markets. This allows them to corner the markets, becoming the primary option for those that need the software.  This approach allows Topicus to deliver highly specialized and effective solutions that address the specific requirements of its clients.

Topicus now has a track record of growth through both organic expansion and strategic acquisitions. The company actively seeks opportunities to expand its portfolio of products and services, enter new markets, and strengthen its position in existing markets through acquisitions and partnerships. Shares are now up by 36% in the last year alone, and rising, so it’s another of the best stocks to consider these days. And one I’d continue to hold for years to come.

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 Amy Legate-Wolfe has positions in The Motley Fool has positions in and recommends The Motley Fool recommends Constellation Software. The Motley Fool has a disclosure policy.

More on Stocks for Beginners

Stocks for Beginners

After Hitting 52-Week Highs, TIH Stock Is Down: Here’s What Happened

TIH (TSX:TIH) stock has seen a huge rally in 2023, but dropped earlier in April as an analyst weighed in…

Read more »

clock time
Dividend Stocks

Is Now the Right Time to Buy goeasy Stock? Here’s My Take

Shares of goeasy stock (TSX:GSY) slumped last year on a federal announcement, but that has all changed since then.

Read more »

Bank sign on traditional europe building facade
Stocks for Beginners

1 Magnificent TSX Dividend Stock Down 22% to Buy and Hold Forever

This dividend stock may be down 22% from all-time highs, but is up 17% in the last year alone. And…

Read more »

Canadian energy stocks are rising with oil prices
Energy Stocks

What to Watch When This Dividend Powerhouse Shares Its Latest Earnings

Methanex stock (TSX:MX) had a rough year, which ended on a bit of a high note, though revenue was down.…

Read more »

Car, EV, electric vehicle
Tech Stocks

Why Tesla Stock Surged 16% This Week

Tesla stock (NASDAQ:TSLA) has been all over the place in the last year, bottoming out before rising after first-quarter earnings…

Read more »

Growing plant shoots on coins
Stocks for Beginners

2 TSX Growth Stocks That Could Turn $10,000 Into $23,798 by 2030

Are you looking for growth stocks? These two are proven winners with even more room to grow in the years…

Read more »

Investor wonders if it's safe to buy stocks now
Stocks for Beginners

Underpriced and Overlooked: 2 Canadian Stocks Ready to Rally

Momentum is underway for these two Canadian stocks, and yet both still trade at share prices that are quite low…

Read more »

grow dividends
Dividend Stocks

BCE Stock Needs to Cut Its Dividend – Now

BCE stock (TSX:BCE) has seen shares fall drastically with more debt rising, so why on earth did it increase its…

Read more »