Finding top TSX stocks with the potential to double your money is never easy, but there are always high-quality companies trading at attractive valuations that can deliver massive returns. The key for investors is to find businesses with strong fundamentals, significant long-term growth potential, and the ability to scale their operations.
Right now, there are several stocks on the TSX with the potential to double in value over the coming years, whether through rapid expansion, a rebound from undervaluation, or strong earnings growth. So, if you’ve got cash that you’re looking to put to work, here are four top stocks that could deliver massive upside.
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Two of the best growth stocks on the TSX
When it comes to finding TSX stocks that can grow rapidly and consistently, WELL Health Technologies (TSX: WELL) is one of the best.
As Canada’s leading digital healthcare provider, WELL Health Technologies has been rapidly expanding its footprint in the telehealth and digital medical records industry. The company operates a network of clinics, virtual care services, and software platforms that support healthcare professionals.
WELL has seen explosive growth over the last few years as demand for digital health solutions continues to rise. In addition, though, and what’s even more impressive, is its consistent acquisitions of outpatient clinics across the country and its ability to improve the efficiency of these businesses almost immediately after they’re acquired.
So, not only does WELL continue to increase its revenue, but it is also rapidly improving its profitability now.
Despite its rapid growth, though, the stock remains undervalued compared to its long-term potential, making it a top candidate for a significant rally.
In addition to WELL, goeasy (TSX: GSY) is another incredible TSX stock with the potential to double your money. In fact, over the last six years it’s nearly quintupled investors’ money, up a whopping 394%.
goeasy is one of Canada’s top alternative lenders, specializing in loans for consumers who may not qualify for traditional bank credit. Over the years, the company has built a strong track record of growing its loan book, improving profitability, and expanding its customer base.
What makes goeasy so compelling is its ability to generate significant earnings growth, even in uncertain economic conditions.
So, with demand for alternative lending continuing to grow and the company consistently demonstrating its ability to manage risk, goeasy’s stock has the potential to double once again as it continues expanding its market share and increasing profitability.
Two top TSX stocks benefitting from the growing popularity of e-commerce
One of the best TSX stocks to buy now, which has both a tonne of growth potential and is significantly undervalued, is Cargojet (TSX: CJT).
Cargojet is a leader in the overnight air cargo business, providing time-sensitive delivery services across Canada and internationally. While the stock has seen volatility in recent years, its long-term growth potential remains intact as e-commerce continues to drive demand for rapid logistics solutions.
Plus, in addition to the tailwinds Cargojet has from the growing popularity of e-commerce, it also has a strong network of delivery routes, key partnerships with major companies, and ongoing expansion into new markets.
Therefore, Cargojet is positioned to capitalize on the increasing need for efficient cargo transportation. As the business continues to expand its operations and improve its profitability, the stock could see a significant rebound, offering investors the potential for major gains.
Finally, one stock that’s been rallying significantly lately yet still has more potential for growth is Aritzia (TSX: ATZ).
Aritzia is one of the fastest-growing fashion retailers in Canada, with an expanding presence in the United States. The company has been aggressively growing its store count while also capitalizing on the growing popularity of e-commerce, which has driven significant sales growth in recent years.
Despite some short-term challenges it’s faced as a result of macroeconomic headwinds, Aritzia has a loyal customer base and a strong brand that continues to gain traction in new markets.
Therefore, as it rapidly expands its presence across the United States and continuously increases both its sales and profitability, Aritzia’s stock has the potential to double once again in 2025 after jumping nearly 200% over the last 16 months.
