If you’re looking to supercharge your investment portfolio, few asset classes offer the kind of explosive potential that stocks do. With the right stocks, it’s entirely possible to grow your investment tenfold over time. This kind of growth is especially achievable when you focus on companies with strong fundamentals and innovative products or services.
As these Canadian companies expand their operations and gain market share, their stock prices often rise significantly. Some also benefit from major shifts in technology or consumer behaviour. A great example of this is the surge in interest and investment around artificial intelligence (AI), which is driving rapid gains in select sectors. Investing in businesses that are at the forefront of such trends can dramatically boost your portfolio’s returns.
Against this background, here are two top Canadian stocks that could turn $5,000 into $50,000.
Top Canadian stock #1: MDA Space
Investors looking to 10X their portfolio could consider adding MDA Space (TSX:MDA) stock to their portfolios. This Canadian space technology firm specializes in robotics, satellite systems, and earth observation technologies, solutions increasingly in demand by both government and commercial clients.
MDA stock has soared more than 210% over the past year, and the solid demand trends indicate that the rally is only getting started.
The company continues to perform well and has a growing backlog, which will support future growth. MDA’s revenue jumped 68% in the first quarter, and its increasing backlog, now at approximately $4.8 billion, offers visibility into future earnings. This backlog reflects ongoing and future contracts, confirming strong and sustained demand well into 2025 and beyond.
MDA Space’s diversified technology portfolio positions it well in the booming space sector. By serving multiple end-markets and continuously expanding its pipeline through existing contracts and new opportunities, MDA is building a rock-solid foundation for long-term growth.
Moreover, strategic moves like the recent acquisition of SatixFy Communications strengthen MDA’s position in the high-growth digital satellite communications space. The move enhances its satellite systems capabilities and broadens its global reach.
With solid positioning in a high-growth sector, next-generation innovations, multiple products, and a healthy growth trajectory, MDA Space looks well-positioned to deliver stellar returns.
Top Canadian stock #2: Celestica
Celestica (TSX:CLS) is one of the top Canadian stocks to capitalize on the AI boom. The company is benefiting from the growing spending of hyperscalers to build out AI infrastructure. Thanks to this strong demand, Celestica is delivering solid financial results, and its stock has seen significant gains.
Over the past year, Celestica stock has surged approximately 162%, and in three years, it has delivered an extraordinary gain of more than 1,623%. These returns reflect the company’s strong business momentum, primarily driven by its shift toward higher-value segments, such as Hardware Platform Solutions (HPS), a part of its Connectivity and Cloud Solutions (CCS) division.
Celestica’s HPS segment is booming. In the first quarter of 2025, it generated approximately $1 billion in revenue, representing a 99% year-over-year increase. It now accounts for 39% of total quarterly sales. That growth was driven by major hyperscaler clients scaling up infrastructure for next-gen AI applications. Celestica’s ability to deliver tailored, high-performance hardware solutions through its deep engineering expertise has made it a trusted partner.
Looking ahead, the solid demand for its networking switches, strategic contract wins, and ongoing capital investments suggests this growth story is far from over. Thus, Celestica is a solid stock that has the potential to turn your $5,000 investment into $50,000 over time.
