The Stocks I’d Choose First If I Had $1,000 to Put to Work Right Now

A $1,000 tax refund can be enough to buy into two TSX names with momentum: one steadier and one higher-octane.

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Key Points
  • Calian offers balanced exposure to defence, space, health, and IT, with improving quarterly earnings and a small dividend.
  • Kraken Robotics has strong contract momentum in subsea tech, but the valuation is extremely rich and expectations are high.
  • Pairing them splits your bet between reliable execution and faster growth potential, instead of guessing on one story.

Tax season has come to a close, and some of you might actually be receiving a refund! Even a thousand dollars can get you started, as long as you’ve done your taxes correctly.

It’s more of an issue than one might think. A recent Omni Calculator report found ChatGPT showed a 78.3% instability rate in finance prompts, Gemini still came in at 25%, regression rates reached 17.4%, and one retirement calculation missed the correct $1,009,919.76 answer by roughly 40%, landing at $606,000 instead.

That’s a sharp warning for taxpayers, but also for investors: don’t guess. Look for companies with clean momentum, strong guidance, and a business story that could still surprise the market when the next report lands. Yet just because these AI companies can’t do your taxes doesn’t mean there isn’t an opportunity with these top Canadian companies on the TSX today.

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Source: Getty Images

CGY

Calian (TSX:CGY) looks much more practical if I had $1,000 to invest right now. It runs a mix of defence, space, health, and IT services, which gives it a more balanced business than many smaller Canadian tech names. Over the last year, governments and institutions have kept spending on mission-critical services, and Calian stock has leaned into that demand while reshaping weaker parts of its portfolio. In fiscal 2025, revenue rose 4% to $774.1 million, though adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) fell 15% to $78.4 million as some segments lagged.

The more recent numbers looked better. In the first quarter of fiscal 2026, revenue rose 12% to $208 million, adjusted EBITDA climbed 28% to $22.8 million, and adjusted diluted earnings per share (EPS) increased 46% to $1.03. Calian stock recently held a market cap of around $802 million, a trailing price-to-earnings (P/E) ratio of 30.55, and a forward P/E of 16.05. This suggests Calian stock is not cheap on old numbers but looks more reasonable if earnings keep improving. That’s why it fits. You get a steady operator with defence and space exposure, but you still get room for upside if execution stays strong. Plus, it has a nice little 1.6% dividend yield as a bonus.

PNG

Kraken Robotics (TSXV:PNG) is the bolder choice, and that is exactly why a $1,000 position could make sense here. It builds subsea batteries, sonar systems, and marine robotics used in defence and offshore work. Over the last year, the story picked up speed as demand stayed strong, the company expanded through the 3D at Depth deal, and then swung even bigger with its planned Covelya acquisition. This is not sleepy industrial growth, but a company trying to become a much larger underwater technology platform.

The financials show why investors keep watching it. Kraken reported record 2025 revenue of $102.2 million and adjusted EBITDA of $25 million. It also said that since January 2026, it has announced $87 million in product orders, including about $28 million announced on April 16. PNG offers a market cap near $2.46 billion, a trailing P/E around 801, and a forward P/E around 115, so this stock is clearly priced for growth. That is the risk as expectations are high. But for a small amount of capital, I’d rather own a fast mover with real contract momentum than a cheap stock with no spark.

Bottom line

If I had $1,000 to put to work right now, I’d lean first toward Calian stock for balance and Kraken for upside. Put simply, I’d want one stock with a steadier earnings base and one with bigger growth energy. On this list, Calian stock and Kraken stand out as the names that still give you that chance today.

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Kraken Robotics. The Motley Fool recommends Calian Group. The Motley Fool has a disclosure policy.

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