What Are Some High-Growth Canadian Stocks?

The second half of the year is a time when Canadian growth stocks ride their seasonal rallies. Here are some growth stocks to consider.

Puja Tayal

Author Bio

Puja Tayal grew up in a small-business family where dinner conversations often centred on working capital and savings. Her early experiences with investing, particularly during the 2008 financial crisis, shaped her approach to understanding markets and evaluating investment opportunities. She began her career at a mutual fund company before moving into investor education and financial writing for asset and wealth management firms. Before joining The Motley Fool, Puja wrote for Market Realist, where she extensively covered the semiconductor industry. Her published work has also appeared in The Indian Express. Puja believes every stock has a story that can help investors understand its potential returns. She combines business analysis with different investing approaches to help investors make informed decisions and align their portfolios with their long-term financial goals. Outside of finance, Puja enjoys long drives, catching up with friends, watching superhero and science-fiction movies, and managing her family portfolio. She also has a keen interest in artificial intelligence and its potential to reshape the world.

Education

Bachelor's degree in Accounting and Finance, University of Mumbai (2007)
CFA Level I

Areas of Expertise

Qualitative company analysis, management strategy, risk assessment, long-term investing, portfolio diversification and rebalancing, dividend reinvestment, cyclical growth opportunities, compounding strategies, growth stocks, and dividend stocks.

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Favorite Investment Quote

"Risk comes from not knowing what you're doing." — Warren Buffett

Published July 30, 2025 5:00 pm EDT

Recently, Clestica’s (TSX: CLS) share price surged a whopping 17% in just one day on July 29 after its earnings beat its guidance. The strong demand for networking switches from hyperscaler customers drove revenue up 21% year-over-year to $2.89 billion in the second quarter of 2025, beating its guidance of $2.72 billion. It also revised its 2025 guidance upwards to reflect the strong demand. If you have missed this growth rally, you need not worry. Canada has some cyclical and seasonal stocks that can generate high growth in a short period.

With the July 29 rally, Celestica stock is now in the oversold category, with a Relative Strength Index (RSI) of 80.2, indicating that a correction is likely. The RSI takes the 14-day average and determines the speed and magnitude of price changes. On a scale of 1 to 100, an RSI above 70 indicates that the share is overbought, and an RSI below 30 is underbought.

person stacking rocks by the lake — Source: Getty Images

High-growth Canadian stocks to consider

Among seasonal growth stocks are e-commerce stocks like Shopify (TSX: SHOP) and Lightspeed Commerce. They tend to rally in the second half during the holiday season. Between the two, Shopify is a better growth stock as Lightspeed is still recovering from expensive acquisitions made in 2021.

Shopify

This time, the rally came early as Shopify stock jumped 57% from its April 2025 low and is just 6.3% below its 2024 holiday season peak. This makes one wonder if the stock has already ridden its seasonal rally. The RSI of 61 says otherwise. While the buying momentum has picked up, more growth is likely in November.

In 2024, Shopify stock surged 51% between early August and October and rallied another 57% to its holiday season peak in February 2025. This shift is because Shopify’s strategy to expand beyond small and medium businesses (SMB) to Enterprises, beyond North America to International markets, and beyond online to offline channels is normalizing seasonal growth. The company continued to grow its revenue by more than 20% for nine consecutive quarters.

You could consider buying the stock even now and enjoy another 40–50% holiday season rally till February. A good strategy is to buy the dip in the seasonally weak months of March and April, and sell in the February rally.

Hive Digital Technologies stock

Hive Digital Technologies (TSXV:HIVE) stock is cheap at the moment as it is in the next stage of artificial intelligence (AI) supply chain growth. Currently, hardware companies like Celestica are experiencing growth as hyperscalers and companies like Hive invest in building AI-ready data centres.

Hive is growing its capacity from six Exahash per second (EH/s) to 25 EH/s by December 2025. Its BUZZ High Performance Computing (HPC) segment saw 300 times revenue growth in the second quarter. The new capacity addition will help the company grow its HPC revenue and bring it on par with Bitcoin mining income. The capacity expansion could grow revenue fourfold and drive the stock price.

Hive stock is currently at an RSI of 49, which indicates balanced price momentum. Now is a good time to buy the stock before the momentum picks up. Early investing could help you ride the rally and double your investment, given the stock’s high volatility.

Final thoughts

Choosing the right stock can make a difference in your investment returns. Investing is only the first step. You should monitor returns on your investment periodically to determine whether to hold or sell a stock.