For investors who stuck with equity markets through 2025, it was very likely a positive year. Indeed, for Canadian investors, the returns we saw last year were remarkable, leading many of the developed markets around the world in terms of returns.
Now, much of this narrative has to do with the country’s resource-rich economy. That’s going to provide a tailwind into 2026, so long as this commodity bull market continues.
That said, there are other high growth stocks I think are worth considering, both in terms of their near-term momentum, as well as their long-term capital appreciation upside potential. Let’s dive in!
Shopify
Shopify’s (TSX:SHOP) stock price performance in recent years has been notable. After falling to a low of around $35 per share in 2022, shares of SHOP stock have since rebounded to nearly the $200 level. Last year, shares of SHOP stock moved toward a new all-time high around the $250 level.
This rally is one I think has legs and could certainly continue in 2026. Much of that has to do with how robust e-commerce spending has been in recent quarters. Despite concerns about a weakening jobs market, Shopify’s gross profit surged 24% year-over-year this past quarter, driven by solid international expansion and overall GMV growth many analysts and investors didn’t see coming.
With the company investing heavily in AI-driven merchant tools and this international expansion expected to drive continued growth in new (higher-growth) markets around the world, Shopify is one of those unique bets trading near all-time highs I think could have plenty of juice left for another rally higher.
In my view, this recent dip into February is one worth buying. That is, for those with a long-term investing time horizon.
Celestica
Another top high-momentum growth stock that’s seen impressive performance of late is Celestica (TSX:CLS).
Shares of the Canada-based tech company have rocketed roughly 400% higher over the past four years, as investment in leading AI beneficiaries continues to propel high-quality operators like Celestica higher.
The company’s investments in its own AI connectivity and cloud solutions business has led to solid growth, with revenue surging 43% on a year-over-year basis this past quarter. Impressively, the company’s hardware platform solutions business grew at a nearly 70% clip over the same timeframe.
As cloud spending continues to benefit directly from hyperscaler AI data spend, Celestica’s visible multi-year earnings growth and its rising margins position the company well to continue to grow in a highly profitable way for long-term investors looking for the best opportunities in a sector that’s becoming bifurcated by companies that make money and those that don’t.
Aritzia
This last pick on this list is a bit more speculative, but it’s one I find intriguing right now. Shares of Aritzia (TSX:ATZ) stock have been on an absolute tear over the course of the past year, more than quadrupling over this timeframe.
This move has effectively turned Aritzia into one of Canada’s quietest but most effective momentum stories over the course of the past year.
Recent results indicate that Aritzia is returning to growth, with its outlook re-accelerating higher in recent quarters despite concerns about a strapped retail consumer. Importantly, the company has seen its productivity increase dramatically thanks to a robust e-commerce offering, and a growing footprint in the U.S. has helped Aritzia provide investors with a growth story worth buying into.
With the company’s revenue expected to grow at a 16% clip (and EPS growing at around 28%) in the year to come, Aritzia stock has been upgraded by a number of analysts, for good reason. We’ll have to see if this momentum can continue, but for now, I have to include ATZ stock as an honourable mention.
