3 Unstoppable Canadian Growth Stocks You Can Buy Right Now for Less Than $100

When it comes to finding great investments, high-quality Canadian growth stocks that can expand their operations for years are some of the best you can buy.

Some stocks can have periods of rapid growth followed by periods of stagnant growth, where they struggle to find new ways to bring in revenue. But the best stocks will be businesses that have differentiated themselves and clearly proven that they can consistently expand their operations and grow value for shareholders.

So, if you’re looking for some of the top Canadian growth stocks to buy, here are three of the best to consider today.

An incredible crypto stock to buy and hold for the long haul

In this market environment, some of the best growth stocks to buy if you can stomach the volatility will be crypto stocks. That’s why Galaxy Digital Holdings (TSX:GLXY), in my view, the top crypto stock in Canada, is one of the top Canadian growth stocks to buy right now.

In addition to the fact that its stock is considerably cheap right now, almost 50% off its all-time high, the growth potential the stock offers is actually a more compelling reason to invest.

Galaxy has built an incredibly diverse financial services business that serves the cryptocurrency industry. Whether it’s creating investment funds, so Canadians can gain exposure to cryptocurrencies, market-making for institutional and high-net-worth clients, or even offering investment banking services to cryptocurrency companies, Galaxy Digital is perfectly positioned to benefit from the ongoing boom in the cryptocurrency industry.

While this unstoppable Canadian growth stock is still cheap, I’d consider it one of the best to buy today.

A top retail growth stock to buy right now

Another excellent Canadian growth stock to buy now that continues to impress is Aritzia (TSX:ATZ). Aritzia is a vertically integrated women’s fashion retailer that has been growing rapidly across North America.

While most of its boutiques started out in Canada, lately, it has been rapidly expanding across the United States with much of the same success.

Aritzia’s entire strategy is refreshing, and, therefore, not surprising it’s been this successful. The company has managed to carve out its own share of the market, making fashion products that are more luxurious and desirable than fast fashion items, but at prices that are still far cheaper than true luxury brands.

In addition, it committed to building its e-commerce platform long before the pandemic and intends to use its wildly successful boutiques as a physical cash flow-generating marketing platform for its new products.

All this has resulted in impressive growth, with the retail stock performing exceptionally well through the pandemic. In fact, over the last three years, investors have earned a total return of almost 200% or a more than 42% compounded annual growth rate.

So, if you’re looking for a truly unstoppable Canadian growth stock to buy now, Aritzia is one that continues to impress.

A top residential real estate stock for long-term investors

Last but certainly not least is a residential real estate stock, InterRent REIT (TSX:IIP.UN). InterRent is an incredibly successful real estate stock that has been growing investors’ capital rapidly and consistently for over a decade.

The company has taken full advantage of the booming housing market in Canada as well as ultra-low interest rates. It’s done this by consistently making high-quality acquisitions to expand its portfolio. It’s also heavily invested in upgrading the properties it owns in order to not only increase the net asset value for investors but also significantly increase the cash flow each property yields.

This has been exceptionally successful, with investors over the last decade earning a total return of 600%. It’s hard to find any investment as safe as residential real estate that can grow your investment by 600% in just 10 years.

So, if it’s a high-quality growth stock you’re looking to buy, InterRent is one of the best Canadian real estate stocks you can consider.

The post 3 Unstoppable Canadian Growth Stocks You Can Buy Right Now for Less Than $100 appeared first on The Motley Fool Canada.

Buy Alert: The Shopify of Cryptocurrency

We recommended Shopify before everyone knew about it… and now it’s up roughly 5,000% and while making some investors a fortune in the process.

Now, The Motley Fool is issuing a buy alert on another controversial investment with mouth-watering potential: cryptocurrency. But not just any cryptocurrency… one specific coin that we think could rise above the rest.

This is the first cryptocurrency The Motley Fool has ever recommended, so you probably don’t want to miss out.

Click here to get all the details!

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More reading

Alert: These Cheap Stocks Won’t Be Cheap Too Long
3 of the Best Canadian REITs for 2022
WOW! These 4 Canadian Stocks Are Unbelievably Cheap
Why Galaxy Stock and Voyager Stock Fell Over 10% on Monday
Could This Retail Stock Become a Tech Stock?

Fool contributor Daniel Da Costa owns shares of Galaxy Digital Holdings Ltd. and INTERRENT REAL ESTATE INVESTMENT TRUST. The Motley Fool has no position in any of the stocks mentioned.

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