We are halfway through the 2020s. The first half brought a significant crisis and bubble. The pandemic, the artificial intelligence (AI) revolution, the Russia-Ukraine war, and tariff wars continue to change the global supply chain. All these events created gainers and losers in the stock market. As we enter the second half of the decade, new trends could shape stock market movements.
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What to expect in the next five years
2026 could see a recovery from the tariff impact as tariffs become a new normal for Canadian businesses. Next year could also see an increase in construction activity as the Canadian government adopts a nation-building strategy and looks for new export markets. Moreover, the AI revolution could enter the next growth phase, whereby growth from AI hardware normalizes, and that from AI applications picks up. The potential gainers in the next five years could be businesses that leverage AI and trade.
TSX stocks that could triple in five years
Hive stock
Hive Digital Technologies (TSXV:HIVE) became a poster stock of the Bitcoin price rally and AI adoption in 2025. The company absorbed losses from the Ethereum shift by expanding into AI cloud computing. It also responded to the Bitcoin halving by increasing capacity. In 2025, the company expanded capacity from 6 to 25 Exahash per second (EH/s) in just six months, both organically and through acquisitions. This expansion increased its monthly Bitcoin production capacity by 182% year-over-year to 290 BTC in November 2025. The company funded the expansion by selling the Bitcoin it mined and stored in inventory.
The 2025 execution has helped Hive develop its growth flywheel to capture supercycles in Bitcoin operations and high-performance computing (HPC) growth. Both are data centre opportunities. The difference is that Bitcoin mining needs Tier I data centre capacity, where the downtime is high, as it has only one power and cooling path and no backup. HPC needs Tier III capacity with multiple paths for power and cooling, and backup that reduces downtime. The latter one is a high-margin business, and that is where Hive will invest in the coming years. It will use equity capital and Bitcoin cash to fund this expansion.
And given the increasing AI adoption, HPC demand will grow. A larger share of HPC revenue will help Hive reduce profit and share price volatility from Bitcoin prices and help it grow steadily over the next five years. At the same time, Hive will also benefit from any Bitcoin upcycles, making it a stock that can triple or quadruple your investments.
Shopify
Shopify (TSX: SHOP) stock could also triple your investment in the next five years by growing revenue at a 20% CAGR. It has finally achieved the scale at which it generated operating profit for nine consecutive quarters. The next five years could see the implementation of AI tools to boost revenue and reduce costs. It is expanding beyond North America, creating ample opportunities, especially in an economic growth cycle.
However, it is better to wait till March 2026 to buy Shopify stock, as that is when the share price falls due to seasonal weakness. Looking at the last five-year rally, the stock has only grown 46% for those who bought at its 2020 peak. However, those who bought at the 2022 dip saw a 460% rally. Hence, buy the stock at the dip for better returns.
Descartes stock
Descartes Systems (TSX: DSG) stock corrected 30% in 2025 as the tariff war slowed trade volumes and organic growth. A company that provides logistics and supply chain solutions, such as customs and compliance, inventory and transport management, and route tracking, benefits from higher trade volumes. Descartes continued to grow its revenue from acquisitions in 2025. However, 2026 could be a year of recovery and drive organic growth as Canadian companies adopt a new supply chain strategy.
An uptick in trade volumes, compounded by the addition of new services and technologies from acquisitions, could triple the share price in the next five years.
