Canadian stocks have had a roller-coaster ride in 2026, and we are only through the first three-and-a-half months. This has been one of the most volatile markets I have ever experienced in some time. The good news is that long-term investors can use the volatility for their gain.
If you want to maximize the growth of your capital in a tax-efficient way, you need to be using the Tax-Free Savings Account (TFSA). There is nothing more tax efficient than tax-free. Canadians got a fresh $7,000 of space to contribute to their TFSAs this year. If you have some capital, pop it in your TFSA, and get investing. Here are three Canadian stocks I would look at now.
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A top Canadian large-cap stock
Right now could be an attractive time to add Shopify (TSX: SHOP) to your TFSA. This is one of Canada’s premium growth stocks. After it has fallen 27% in 2026, you can buy it at a little more attractive valuation today. Even after the decline, it remains Canada’s largest tech stock with a $203 billion market cap.
This Canadian stock is down on the broader software-as-a-service sell-off. Last quarter, it delivered stunning results. Revenues were up 30% and operating income increased by 35%! In 2025, it generated $2 billion of free cash flow, which was a 25% improvement.
Shopify is gaining strong traction in international markets. It continues to add new tools (including AI tools) that add merchants to its ecosystem. If it can continue to put up great quarters like it just did, there is no reason this stock will be staying below $180 per share.
A top mid-cap stock
If you want something more in the mid-cap universe, Stantec (TSX: STN) looks like an attractive buy. This Canadian stock has a $13.8 billion market cap.
Stantec is a major Canadian provider of engineering, design, and environmental services. Major global trends like aging infrastructure, energy security, rising defence spending, and data centre growth are helping to fuel strong organic demand for its services.
Stantec has also been very acquisitive. Recent acquisitions have expanded its service offering and geographic presence. Last year, net revenue rose 10.6% and adjusted earnings per share (EPS) rose 19.9%. With a strong $8.6 billion backlog, it still anticipates 15%-18% EPS growth for 2026.
This is a company that has compounded shareholder returns by a mid-teens rate for over 10 years. With its stock down 6.6% in 2026, it’s a decent time to build a TFSA position.
A top Canadian small-cap stock
If you want a small-cap Canadian stock with some outsized growth, Firan Technology (TSX: FTG) is worth a look. After rising 75% this year, this company has a $509 million market cap today.
Generally, Firan is a pretty boring business. It manufactures circuit boards, cockpit components, and aerospace gadgets. However, the company has done a good job positioning itself as an essential aerospace supplier across the world.
Major aircraft manufacturers have decades of backlog. Rising defence spending, is also translating to more demand for Firan’s components. Last year, it grew revenues by 18% and adjusted earnings rose 31%.
The company has a strong balance sheet and a rising backlog. It is not cheap like it was this time last year. However, if it can continue to put up double-digit earnings growth, there could be more capital appreciation in the coming years.
