3 No-Brainer Stocks to Buy With $300 Right Now

Investing in stocks can be highly rewarding, especially for those planning to buy and hold stocks long term. Additionally, one doesn’t require substantial capital to start investing in stocks. In fact, shares of several fundamentally strong Canadian corporations are trading at discounted valuations, making them attractive investments near the current levels. 

With this background, let’s look at three no-brainer Canadian stocks with the potential to deliver solid growth. You can buy these three stocks for $300 right now.  


Shopify (TSX:SHOP) is a must-have stock to capitalize on the digital transformation. The ongoing shift in selling models towards omnichannel platforms and the increased number of consumers opting for the convenience of online shopping presents significant growth opportunities for this leading e-commerce platform provider.  

Despite the strong recovery in its price throughout the year, Shopify stock is still below its peak, suggesting potential for an upward trajectory as macroeconomic challenges ease and consumer spending rises. Besides, the company’s durable revenue growth rate, focus on streamlining its business and reducing costs, and improving performance on the profitability front provide a solid foundation for future growth. 

For instance, Shopify’s top line increased 25% year over year in the third quarter (Q3). Meanwhile, it delivered positive free cash flows for four consecutive quarters. In essence, the company’s focus on driving the adoption of innovative products like Payments and Capital, expanding sales and marketing channels, improving attach rates, and prioritizing sustainable earnings positions Shopify favourably for delivering substantial returns over the next decade.


Thanks to its robust growth and market-beating returns, goeasy (TSX:GSY) is a no-brainer stock one can buy right now. goeasy has consistently achieved double-digit growth in both revenue and earnings over the past several years. The company’s impressive financial performance is evident in its stock’s outperformance. For instance, goeasy stock has grown at a compound annual growth rate (CAGR) of about 30% in the last five years, outshining the broader markets. 

This subprime lender has grown its top line at a CAGR of 19.6% (as of September 30, 2023) in the past five years. At the same time, its earnings boasted a CAGR of 31.9% during the same period.

The company’s growing loan portfolio, leading position in the subprime lending market, diversified product base, and omnichannel offerings will continue to drive its financials. Meanwhile, its solid credit and payment performance, high-quality assets, and improving operating leverage will fuel its earnings growth and support higher dividend payouts.

Well Health

Shares of the digital healthcare company WELL Health Technologies (TSX:WELL) could be a solid addition to your portfolio near the current levels. Despite macro headwinds and challenges from the reopening of the economy, WELL Health continues to perform well and is delivering record revenue. What stands out is that its stock is trading extremely cheap, providing a solid buying opportunity near the current levels. 

WELL Health is strategically expanding its market presence by pursuing accretive acquisitions. Additionally, its focus on achieving profitable growth is a favourable factor. WELL Health is poised to benefit from omnichannel patient visits. Furthermore, its investments in artificial intelligence and the introduction of new products are set to accelerate its organic growth.

Looking into the future, WELL Health anticipates generating approximately $1 billion in annual sales within the next two years, signaling a positive outlook. Meanwhile, its stock is trading at the next 12-month enterprise value-to-sales ratio of 1.5, significantly lower than its historical average, supporting my bull case.

The post 3 No-Brainer Stocks to Buy With $300 Right Now appeared first on The Motley Fool Canada.

Should You Invest $1,000 In goeasy?

Before you consider goeasy, you’ll want to hear this.

Our market-beating analyst team just revealed what they believe are the 5 best stocks for investors to buy in November 2023… and goeasy wasn’t on the list.

The online investing service they’ve run for nearly a decade, Motley Fool Stock Advisor Canada, is beating the TSX by 24 percentage points. And right now, they think there are 5 stocks that are better buys.

See the 5 Stocks
* Returns as of 11/14/23

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More reading

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Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Shopify. The Motley Fool has a disclosure policy.

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