Here are some key facts about Constellation Software: As of 2023, Shopify was used by over 4.4 million websites in 175 countries around the world. Shopify specializes in providing a proprietary eCommerce platform for online merchants. Even a 10-for-1 stock split in June 2022 could not change the sentiment of investors. Since then, Shopify’s stock has struggled due to the challenging macroeconomic environment. This Canadian growth stock rewarded early investors with massive growth during the pandemic. It was founded in 2006 in Ottawa, Ontario, by current CEO Tobias Lutke. Shopify is the largest tech company in Canada by market capitalization. The first stock on our list needs no introduction. Methodology 10 Best Growth Stocks in Canada for 2023 1. In this article, we will discuss our list of the ten (10) best Canadian growth stocks to buy in March 2023. As we saw in 2022, higher interest rates and a bear market can cause growth stocks to fall considerably from previous highs. ![]() Likewise, during times of economic volatility, growth stocks are usually the first to get slashed. If growth slows unexpectedly, the stock price can take a massive hit. While outsized growth and returns are the allure of growth stocks, they do come with some risks as well. These stocks also usually have high forward-looking price multiples that anticipate the potentially rapid growth of future earnings. ![]() There are no big tech companies north of the border, nor are there many electric vehicle makers or semiconductor brands.Ī sure sign of a growth stock is if the company foregoes profitability to build the business as fast as possible. Growth stocks in Canada are a little different from growth stocks in the US. In Canada, this benchmark is usually the S&P/TSX 60 index. In the US, stocks are typically measured against the performance of the benchmark S&P 500 index. ![]() Many investors correlate growth stocks with the tech sector, but this isn’t always the case.īy definition, a growth stock is any stock that is anticipated to significantly outperform the average growth of the broader market. Most stocks on the market are broken down into two categories: growth or value.
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