New to Investing? These Are The Top TSX Stocks to Buy Even at TSX Record Highs

These three stocks may be quite different, but all three have a potentially multi-bagger future ahead.

Amy Legate-Wolfe

Amy became interested in investing in 2018 after having her first daughter. After receiving a masters degree in journalism from Western University, she became frustrated that the finance industry remained a confusing place for Canadians like her: new parents, millennials, and other young people who needed to understand their finances. Now, Amy focuses on tech companies and renewable energy for growth opportunities, coupling that with long-term investing strategies and equities. She also provides investors with a daily newsletter, Canada Stock Digest, for daily market updates. Before joining Motley Fool Canada, she wrote for major news organizations including HuffPost, CTVNews.ca, and CBC. When she’s not researching investing strategies, Amy’s time is pretty much monopolized by her two wild daughters, but in what little spare time she has she loves to do yoga, go on walks with her dog, and travel with her husband. Follow Amy on LinkedIn and Canada Stock Digest. Favorite Investment Quote: “October: This is one of the particularly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February.” – Mark Twain

Published July 23, 2025 4:40 pm EDT

The TSX recently hit a record high, and keeps pushing higher, and for new investors wondering if it’s too late to get in, don’t worry. There are still pockets of opportunity if you know where to look. Even with just $500, you can start building a diversified position in innovative Canadian companies with long-term potential. Instead of chasing the most expensive stocks on the market, smart investors are turning their attention to lesser-known names that are building real value.

Three such TSX stocks worth considering are Lightspeed Commerce (TSX:LSPD), Galaxy Digital Holdings (TSX:GLXY), and Troilus Gold (TSX:TLG). Each operates in a different sector of commerce technology, digital finance, and gold mining, but all have promising outlooks and recent updates that make them worth a closer look.

diversification is an important part of building a stable portfolio — Source: Getty Images

Lightspeed

Let’s start with Lightspeed. The TSX stock posted strong fourth-quarter results back in May, with revenue rising 10% year over year to $253.4 million. That capped off a full-year revenue total of $1.08 billion, up 18%. Despite a large reported net loss of $575.9 million due to a non-cash goodwill impairment, the underlying business is gaining momentum. Adjusted income came in at $15 million, and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) hit $12.9 million, both improvements from the previous year.

Lightspeed is becoming leaner and more focused, especially on retail in North America and hospitality in Europe. Monthly annual revenue per user (ARPU) rose 13% to $489, and subscription ARPU climbed 11%, showing that customers are spending more on its platform. With over $558 million in cash, aggressive share buybacks, and a clear plan to grow both locations and revenue, the TSX stock is well-positioned. For about $18 a share, it’s a high-growth name at a reasonable price.

Galaxy

Next is Galaxy Digital. The TSX stock has had a dramatic year, completing its long-awaited move to the U.S. and relisting on the Nasdaq in May. That’s a major strategic shift, as Galaxy transitions from being just a crypto trading firm to an artificial intelligence (AI) and digital infrastructure powerhouse. Still, the first quarter wasn’t kind. Galaxy reported a net loss of $295 million due to lower digital asset prices and a $57 million impairment related to its Helios data centre wind-down.

But that’s not the whole story. Galaxy’s second quarter is already showing signs of life, with preliminary income between $160 and $170 million and equity capital bouncing back to $2.2 billion. It’s also expanding aggressively into data centre leasing, signing a deal to provide 393 megawatts of critical IT load to CoreWeave for artificial intelligence (AI) and high-performance computing, with revenue generation expected to start in 2026. With over $1.1 billion in cash and stablecoins, and a long runway ahead, Galaxy is volatile, but potentially explosive. Shares recently traded around $37.85, offering high-risk, high-reward exposure to both crypto and AI infrastructure.

Troilus

Lastly, there’s Troilus Gold, a lesser-known but very interesting gold exploration and development company. It’s focused on restarting and expanding the past-producing Troilus gold and copper project in Quebec. The TSX stock controls a massive land package in a tier-one jurisdiction and is working toward bringing a major mine back into production.

Gold prices have remained strong, and Troilus is well-positioned to benefit from renewed interest in safe-haven assets. In its most recent updates, the TSX stock advanced permitting, environmental studies, and engineering toward a feasibility study expected later this year. It’s also backed by strong institutional investors and strategic partners. At about $0.66 per share, $500 goes a long way, giving investors a foothold in a project that could become a meaningful Canadian gold operation.

Bottom line

Of course, all three of these TSX stocks come with risks. Lightspeed needs to keep executing on profitability, Galaxy is tied to the ever-volatile crypto world, and Troilus has a long path ahead before production. But for a starter portfolio with just $500, these each offer something different: software, digital infrastructure, and hard assets. Together, these cover growth, innovation, and value. And if the market pulls back tomorrow? You’re not just holding stock; you’re holding a story — one with real potential.