Got $7,000 to Invest? These Canadian Stocks Could Be Your Best Bet

These Canadian stocks are one of the best performers on the TSX and are likely to deliver significant returns over time.

Sneha Nahata

Author Bio

Sneha Nahata has been fascinated by the stock market for as long as she can remember. Growing up in a family of investors and stock brokers, conversations about businesses, markets, and investing were part of everyday life. What started as curiosity soon became a lifelong passion and, ultimately, a career. She began her professional journey at Zacks Investment Research, where she developed her analytical skills and gained experience evaluating investment opportunities. Sneha has been writing for The Motley Fool Canada since 2020, helping investors look beyond the headlines to identify long-term investment opportunities. Her work is also featured on Barchart. Sneha’s investing philosophy combines growth and dividend investing, with a focus on finding businesses that can build wealth over the long term. Outside of finance, Sneha enjoys sketching, exploring new creative ideas, and spending time with her family.

Education

Master of Science (M.Sc.) in Finance

Areas of Expertise

Technology stocks, media and telecommunications, banking and financial services, energy stocks, consumer stocks, dividend investing, growth stocks, fundamental analysis, company valuation, and long-term investing.

Social Media Profiles

Barchart author profile

Favorite Investment Quote

"Know what you own, and know why you own it." — Peter Lynch

Published May 15, 2025 4:10 pm EDT

Over time, equities have consistently delivered higher returns compared to other investment options, making them a powerful tool for growing money. Beyond their potential for price appreciation, many stocks also pay dividends, offering investors growth and cash flow benefits.

While stocks offer higher returns, they are risky bets. However, diversifying your investments across various companies and industries can help cushion your portfolio against sudden downturns.

Another smart way to boost investment returns is using a Tax-Free Savings Account (TFSA). Any capital gains or dividends earned within a TFSA are completely tax-free, allowing your investments to grow more efficiently over time. For 2025, the TFSA contribution limit is set at $7,000.

So, if you have $7,000 to invest, these Canadian stocks could be your best bet right now.

Shopify stock

Commerce platform provider Shopify (TSX: SHOP) is a top long-term bet for your TFSA portfolio. While SHOP stock has jumped nearly 34% over the past month, there are strong reasons to believe the company’s growth story is far from over. As more businesses shift towards omnichannel selling and embrace Shopify’s expanding suite of products, the company is well-positioned to continue delivering impressive returns.

An increasing number of merchants are adopting its platform, driving up key metrics like gross merchandise volume (GMV), which has grown by more than 20% for seven straight quarters. This momentum in GMV has translated into robust revenue growth, with Shopify posting over 25% revenue increases for eight consecutive quarters.

The company’s payments business is also thriving. Shopify is handling a larger share of its merchants’ transactions, leading to steady growth in its gross payment volume. Beyond online sales, Shopify is also expanding in offline commerce and growing rapidly by acquiring high-value customers. One of Shopify’s fastest-growing areas is its business-to-business (B2B) segment. This part of the business has delivered more than 100% growth in GMV for the past several quarters.

In addition to expanding its top line, Shopify focuses on operational efficiency. By leveraging artificial intelligence (AI), the company aims to optimize costs, supporting sustainable earnings growth.

Shopify’s expanding merchant base, international growth, diverse revenue streams, and focus on profitability make it one of the best Canadian stocks to buy now.

TerraVest Industries

TerraVest Industries (TSX: TVK) could be another solid stock to buy now with your TFSA contribution. This Canadian industrial manufacturer has been one of the TSX’s best performers, delivering an eye-popping return of nearly 637% over the past three years.

Despite this impressive run, TerraVest stock has significant growth potential. The company manufactures various industrial products, such as home heating equipment, propane, transport vehicles and storage vessels for hydrocarbons, energy processing systems, and fibreglass storage tanks. This diversity provides a strong and stable foundation for its business.

One of TerraVest’s key strengths is its focus on domestic markets. By concentrating on the regions where it operates, the company avoids many trade-related risks that can hurt global manufacturers. This local focus gives its business an added layer of stability amid uncertain economic times.

Moreover, TerraVest continues to invest in growth. The company has been expanding its manufacturing capabilities, broadening its product lines, and improving efficiency. Further, it has a solid balance sheet, which enables it to accelerate its growth through acquisitions.

A recent highlight is TerraVest’s acquisition of L.B.T. Inc., a North American tank trailer manufacturer. This move will boost TerraVest’s presence in the tank trailer market, offering operational synergies and helping the company expand its reach.

In short, TerraVest’s strong position in key markets and expanding manufacturing capacity position it well to deliver solid capital gains. Moreover, TVK also returns cash to its shareholders with regular dividend payments.