The Bank of Canada announced yet another 25-basis-point rate cut to boost spending while US tariffs are making everything expensive. While tariffs safeguard domestic industries from international competition, high tariffs can discourage trade and make trade partners look for alternatives. How do you invest in stocks under the current economic climate?
Today’s reality brings new opportunities to double your money
The Canadian Prime Minister is considering looking for other trade partners to reduce dependence on the United States. While this could pull down trade in the short term, it will have a positive long-term impact. It will give Canada more negotiation power with the United States and boost trade when the US trade volumes resume once tariff uncertainty eases. While everything is hanging in the balance on the hopes of trade recovery with the United States, the wait is burning cash, as it did during the pandemic.
A lower US court has ruled that the “tariff imposition” is illegal, but the Trump administration has appealed to the US Supreme Court. The tariffs could prevail until the Supreme Court ruling comes.
This presents an opportunity in certain stocks that can realistically double your money while the world waits for tariff uncertainty to end.
Three stocks under $100 that could realistically double your money
HIVE Digital
HIVE Digital Technologies (TSX:HIVE) stock has already rallied 129% between June 23 and September 19, 2025, as it expands capacity from six Exahash per second (EH/s) in February to 25 EH/s by November. The expanded capacity could help it mine more Bitcoin even at a halved rate. Moreover, its high-performance computing business is growing at a faster rate, which could reduce the exposure to Bitcoin price volatility.
Further, interest rate cuts could see savings shift from term deposits to stocks and other asset classes, driving Hive’s stock price. This company has the fundamentals and the market sentiment favouring more upside in the share price. The stock could grow to $10 anytime over the next three years, making it a buy even at $5, and a definite buy if the share price falls below $4.
Air Canada stock
Air Canada (TSX:AC) stock has been caught in the $14–$26 loop since coming out of the pandemic. Even the revenge travel uptick that helped it post its best profits could not move the stock beyond the $26 price because of the mounting debt it took on to stay afloat during the pandemic. However, the airline used the revenge travel profit to reduce net debt to a manageable level of $3.6 billion.
Air Canada’s earnings have normalized, and it is using that to buy back shares and reduce the equity dilution from the equity capital raised during the pandemic. This could eventually help the stock break the $26 resistance and double your money in the medium term.
Meanwhile, Air Canada’s stock could continue its seasonal rally from $19 to $25 between October and January. What makes me sure is the airline’s advance ticket sales, which remain upbeat for the holiday season.
Lundin Gold stock
Lundin Gold (TSX:LUG) stock has surged 102% since April 4. Every tariff announcement boosts gold prices, driving the stock price of gold stocks. Lundin Gold is one of the beneficiaries of this trend. Its all-in sustaining cost of US$927 per oz is better than several peers. Moreover, it is among the few gold mining stocks that turned debt-free. It is now using the windfall gains from the higher gold price to boost gold production and give a performance dividend to shareholders.
The cyclicality of gold mining stocks makes investors wary of buying into the rally. However, the falling interest rate cuts by the US Fed and Bank of Canada hint that the dollar value will continue to slip and the gold price will continue to rise in the medium term.
If tariffs slow down economic growth and US trade partners build new trade ties, the gold price will rise. Now is a good time to buy the stock as it has corrected 10% from its 52-week high.
