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

The Canadian stock market is red hot right now. Here are three top companies you can still load up on at a discount.

| More on:
An investor uses a tablet

Source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Canadian stock market has been on an absolute tear as of late. The S&P/TSX Composite Index is up 15% over the past four months and is now nearing a return of close to 25% on the year. And that’s not even including dividends, either. 

But as hot as the market is right now, you don’t necessarily need to be on the sidelines, waiting for a pullback to put some money to work. The TSX still has plenty of top stocks trading below all-time highs to take advantage of today. 

I’ve put together a well-rounded basket of three discounted stocks that are poised to return to their market-beating ways.

If you’ve got time on your side, these three well-priced companies deserve a spot on your watch list.

Brookfield Renewable Partners

The renewable energy sector could be an excellent place to be investing today. Despite boasting huge long-term growth opportunities, the sector as a whole has been on the decline since early 2021. 

Brookfield Renewable Partners (TSX:BEP.UN) is a global leader in the space, and the stock can offer a whole lot to investors. Excluding dividends, shares are down more than 40% from all-time highs, which were last set in early 2021. 

Created with Highcharts 11.4.3Brookfield Renewable Partners PriceZoom1M3M6MYTD1Y5Y10YALLwww.fool.ca

As a proven market-beater in a growth-filled space, this discount alone is enough of a reason to have the company on your radar. Brookfield Renewable Partners had been a consistent market-beater in the years leading up to 2021. And as a long-term shareholder myself, I’m confident it’s only a matter of time before it’s back to outperforming the market.

At today’s stock price, Brookfield Renewable Partners’s dividend is also yielding a whopping 5%. 

Air Canada

I’ve got Air Canada (TSX:AC) on my watch list for reasons similar to those that would make someone interested in Brookfield Renewable Partners. 

Canada’s largest airline has a proven market-beating track record, yet it continues to trade far below all-time highs. Shares of Air Canada are down about 50% since the beginning of 2020. But from 2010 to 2020, the airline stock put up huge market-crushing numbers. 

The airline space certainly isn’t known for monster returns, but don’t let that sway you from investing in Air Canada. 

With shares up close to 50% over the past six months, we could be witnessing the start of Air Canada’s steady rise to new all-time highs. Don’t miss your chance to load up while these prices still last.

Lightspeed Commerce

Last on my list is a beaten-down tech stock that could offer investors long-term market-beating growth potential or a short-term pop. 

Lightspeed Commerce (TSX:LSPD) announced in September that it was exploring options for a potential sale. Since then, shares are up more than 30%. Short-term investors could get lucky here and load up before a surge from a sale. Long-term investors, though, still have just as much of a reason to have this tech company on their radar.

Shares are down more than 80% from all-time highs in late 2021, providing patient investors with an interesting buying opportunity.

Lightspeed already owns a global presence in the massively opportunistic commerce space. Revenue growth is also not expected to drop below the double-digit range anytime soon.

If you’re looking for a low-risk, high-reward type of growth stock, Lightspeed Commerce is the company for you.

Should you invest $1,000 in Air Canada right now?

Before you buy stock in Air Canada, consider this:

The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Air Canada wasn’t one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years.

Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have $20,697.16!*

Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 29 percentage points since 2013*.

See the Top Stocks * Returns as of 3/20/25

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 Nicholas Dobroruka has positions in Brookfield Renewable Partners and Lightspeed Commerce. The Motley Fool recommends Brookfield Renewable Partners and Lightspeed Commerce. The Motley Fool has a disclosure policy.

Confidently Navigate Market Volatility: Claim Your Free Report!

Feeling uneasy about the ups and downs of the stock market lately? You’re not alone. At The Motley Fool Canada, we get it — and we’re here to help. We’ve crafted an essential guide designed to help you through these uncertain times: "5-Step Checklist: How to Prepare Your Portfolio for Volatility."

Don't miss out on this opportunity for peace of mind. Just click below to learn how to receive your complimentary report today!

Get Our Free Report Today

More on Investing

calculate and analyze stock
Dividend Stocks

Here’s How Many Shares of Brookfield Renewable You Should Own to Get $500 in Quarterly Dividends

If you want some dividends on deck, then consider this energy producer, which could provide that and more.

Read more »

Canadian dollars in a magnifying glass
Stocks for Beginners

How I’d Invest $15,000 in Canadian Consumer Discretionary to Afford Life’s Luxuries

The best Canadian consumer discretionary stocks can provide growth and income for years. Here's a trio to look at closely…

Read more »

TFSA (Tax free savings account) acronym on wooden cubes on the background of stacks of coins
Dividend Stocks

Here’s Exactly How $15,000 in a TFSA Could Grow Into $215,000

If you're looking to grow your $15,000 investment into $200,000, here's exactly how to get it done.

Read more »

dividends can compound over time
Bank Stocks

Here’s How Many Shares of CIBC Stock You Should Own to Get $2,000 in Yearly Dividends

This dividend stock is a prime option for investors, and it's from more than dividends.

Read more »

A worker gives a business presentation.
Dividend Stocks

Navigating Economic Headwinds and Buying the Dip

If you're looking to get in on the markets, but fearful of the market dip, then here's how to navigate…

Read more »

shopper buys items in bulk
Bank Stocks

How I’d Allocate $1,000 in Domestic Stocks in Today’s Market

Got $1000? Here's how I'd play the tariff war with Canadian domestic stocks this April! Royal Bank of Canada (RBC)…

Read more »

dividends can compound over time
Investing

2 U.S. Stocks I’d Buy With $2,000 Whenever They Dip in Price

The dip presents an opportunity to invest in fundamentally strong U.S. stocks that have the potential to deliver substantial returns.

Read more »

TFSA (Tax-Free Savings Account) on wooden blocks and Canadian one hundred dollar bills.
Dividend Stocks

Income-generating Stocks That Could Accelerate Your TFSA Growth in 2025

Generate tax-free passive income in your TFSA with these two stocks and grow your wealth.

Read more »