Top Canadian Stocks to Buy, According to Reddit

These Canadian stocks are all over Reddit, so let’s look at why.

Amy Legate-Wolfe

Author Bio 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. Her work can also be found at Canada's National Observer, where she writes on the business side of climate action. Before joining Motley Fool Canada, Amy 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. Social Media 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 August 22, 2025 10:00 am EDT

Reddit traders love to rally around stocks with big stories, and a handful of Canadian names have been trending on those forums this year. Dollarama (TSX: DOL), Hut 8 (TSX: HUT), and Hammond Power Solutions (TSX: HPS.A) are all getting attention for very different reasons. Each delivered its own flavour of performance over the last year, and the chatter online shows just how divided retail investors are about what comes next.

Person holding a smartphone with a stock chart on screen — Source: Getty Images

Dollarama

Dollarama is the steady giant in this mix, and Reddit’s buzz here is all about consistency. The Canadian stock is up nearly 43% over the past year, hitting new highs as Canadians leaned harder into discount shopping. The latest quarter showed 8.2% sales growth and a nearly 27% jump in earnings per share (EPS). Investors online point to Dollarama’s ability to pass on higher costs while keeping stores busy, with many threads highlighting how the stores remain crowded even as the economy stabilizes.

The Canadian stock also just expanded into Australia through its acquisition of The Reject Shop, giving Reddit bulls plenty of reasons to call it a “forever stock.” Bears, however, point to its lofty valuation. With a price-to-earnings (P/E) multiple well above 40, some posters warn that any stumble in growth could spark a correction. Still, for long-term Redditors, Dollarama remains the defensive growth play they love to hold.

Hut 8

Then there’s Hut 8, the crypto-linked energy and mining company that has been the darling of Reddit’s speculative side. Over the past year, Hut 8 shares have nearly doubled, surging 93% as Bitcoin prices climbed and the company reshaped itself into more than just a miner. The latest quarter reported $41.3 million in revenue, but far more eye-catching was the $137 million in net income and its $1.1 billion Bitcoin reserve.

Reddit threads lit up with excitement when Hut 8 detailed its 10,800 megawatt development pipeline and new artificial intelligence (AI) data centre ambitions. Posters see it as one of the few Canadian stocks with exposure to both crypto upside and the booming AI infrastructure theme. The skeptics online warn about volatility and the company’s negative operating cash flow, with comments reminding newcomers that crypto-linked stocks can drop as quickly as they rise. But for Reddit’s risk-takers, Hut 8 is the lottery ticket stock that keeps hope alive.

Hammond Power

Finally, Hammond Power Solutions is the under-the-radar pick that has slowly built a cult following online. Reddit chatter has grown louder around HPS as it quietly delivered record sales of $224 million last quarter, up nearly 14% from the year before. Shares are up about 11% over the past year, and posters love to point out that it benefits directly from electrification and infrastructure spending.

The Canadian stock is expanding manufacturing capacity, including a new facility in Mexico, and its transformers are critical for renewable energy and data centres. Fans on Reddit call it a “real business with real demand,” contrasting it with flashier but less stable plays. Bears note that margins are under some pressure from higher input costs, and the stock’s valuation isn’t as cheap as it once was. Still, many posters argue that Hammond is the kind of mid-cap growth story Canada doesn’t produce often, making it a long-term hold for those betting on the energy transition.

Bottom line

Put together, these three Canadian stocks show the range of names that capture Reddit’s imagination. Dollarama offers defensive growth with a global twist, Hut 8 rides the waves of crypto and AI speculation, and Hammond Power quietly delivers steady exposure to electrification. The risks vary widely, but that’s part of the appeal for online investors who like to balance stability with moonshot potential.

For those watching the forums, the message is clear: Canadian stocks aren’t just about the big banks or resource plays anymore. Whether it’s value retail, Bitcoin, or power infrastructure, Reddit’s favourite names reflect both the shifting economy and the appetite for bold bets. And while not every Canadian stock mentioned online will live up to the hype, these three are worth keeping on the radar as the community debates what’s next.