CRASH PROOF: 2 Top Growth Stocks That Aren’t About to Fall

Stop worrying about when a market crash and start building a solid portfolio based on these top growth stocks.

| More on:

Everyone is worried right now about the potential for another market crash. Investors ended 2020 on a high note, when it came to finances at least. The Santa Claus Rally happened yet again, with shares jumping in just about every area. But unfortunately, that could soon be over. And it’s why you’ll want to consider some strong growth stocks for the next crash.

A vaccine is pushing the markets higher as well, but the vaccine isn’t likely to be widely available to Canadians until September. Meanwhile, COVID-19 vases soared over the holidays. Now, most of the world is under a lockdown order. Many even have a stay-at-home order. That means businesses are going to see even more cutbacks. And after a poor earnings season at the end of last year, it could seriously hurt results, which we’ll witness when full-year and quarterly earnings come out in March.

It’s therefore little wonder everyone is worried. But rather than fretting, find are stocks that will still remain high even during a crash. Just look to these two great options.

Lightspeed

Lightspeed POS Inc. (TSX:LSPD)(NYSE:LSPD) has been on a tear recently. The boom in e-commerce jolted the new company higher and higher. Just recently, it announced the Lightspeed Supplier Network for North American retailers. Smalla and medium-sized businesses now have the tools mainly available to enterprise companies. So the company continues to find new ways of bringing in more clients, boosting revenue higher and higher.

The company keep pushing past all-time highs, up 403% as of writing since its initial public offering, and 126% in the last year alone. With more recurring revenue being added each quarter, this is a great stock to consider buying on a dip. It’s true that it’s not cheap at a price-to-sales ratio (P/S) of 40 as of writing, but even still. This company has become a top player in the growing world of e-commerce and isn’t going anywhere soon.

CloudMD

If you want to take advantage of the boom in both health care and tech, then you need CloudMD Software & Service Inc. (TSXV:DOC). The company came on the stage just before the pandemic as a telehealth service. Since the pandemic, it’s acquired health care telehealth companies in practically every industry. You can now talk to mental health professionals and physiotherapists from the same program!

And if you want growth stocks, this is definitely the one you want. CloudMD is up 398% in the last year alone! While that won’t happen forever, it’s likely to continue growing in share price as it grows through acquisition. It’s become one of the top players in this new world of telehealth. The world has changed, and CloudMD proves it. Even after the pandemic, it’s likely the company will continue to be a popular method of receiving health care.

Bottom line

Whether a market crash happens or not, growth stocks are an ideal way of staying on top of your investments. These two stocks have had a stellar year in a volatile market. Each also continues to announce projects that show the companies aren’t done growing yet. Investors would be wise to pick them up on any dip and hold on tight as they soar higher.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Amy Legate-Wolfe owns shares of Lightspeed POS Inc. The Motley Fool owns shares of Lightspeed POS Inc.

More on Tech Stocks

A data center engineer works on a laptop at a server farm.
Tech Stocks

3 No-Brainer Data Centre Stocks to Buy With $500 Right Now

Data centres are going to be a huge growth opportunity in the next decade. And these are the top buys.

Read more »

The virtual button with the letters AI in a circle hovering above a keyboard, about to be clicked by a cursor.
Tech Stocks

Is OpenText Stock a Buy, Sell, or Hold for 2025?

OpenText stock has fallen in the last few years, but that could mean this top tech stock remains an undervalued…

Read more »

AI microchip
Tech Stocks

Celestica Stock: Buy, Sell, or Hold?

Celestica's stock price has rallied 950% in the last five years. Will the AI boom send it even higher in…

Read more »

data analyze research
Tech Stocks

2 Ridiculously Cheap Growth Stocks to Buy Hand Over Fist in 2024

Well Health Technologies is a cheap growth stock to buy for its record-breaking results, massive revenue growth, and profitability.

Read more »

A worker uses a double monitor computer screen in an office.
Tech Stocks

4 Reasons to Buy Kinaxis Stock Like There’s No Tomorrow

Kinaxis stock has a strong past. But there is even more to look forward to from this top tech stock.

Read more »

The letters AI glowing on a circuit board processor.
Tech Stocks

The Future of AI: Best Canadian Stocks to Buy Now

Here are two of the best AI-focused stocks in Canada that you can consider adding to your portfolio before it’s…

Read more »

TFSA (Tax-Free Savings Account) on wooden blocks and Canadian one hundred dollar bills.
Tech Stocks

2 TFSA Stocks to Buy Right Now With $7,000

Are you looking for growth stocks that can help you maximize the tax-free withdrawals of the TFSA? This article is…

Read more »

cloud computing
Tech Stocks

3 No-Brainer Tech Stocks to Buy Right Now for Less Than $1,000

Not all tech stocks are the risky investments that many think they are. Which is why we're focusing on the…

Read more »