The stock market continues to dip, and growth stocks seem to be falling the heaviest. During times like these, investors would be wise to invest in “safer” companies such as blue-chip stocks. However, if you’ve got a strong stomach, and are willing to withstand some volatility, then you have an excellent opportunity to buy the dip in top growth stocks. Choosing the right companies and letting them grow from here could help you generate massive returns in the coming years. Here are three stocks investors should consider buying today!
This is my top growth stock pick
If I could only buy one TSX-listed growth stock for the rest of my life, it would be Shopify (TSX:SHOP)(NYSE:SHOP). Of the different industries to invest in, none interest me more than the e-commerce industry. This is because it’s very easy to see how much more comfortable consumers are with regards to buying online goods today compared to a few years ago. In addition, as today’s younger consumers grow older and represent a larger proportion of the global consumer base, e-commerce should continue to grow.
Where does Shopify come in? It helps businesses operate online stores. The company provides an online platform and all the tools necessary for businesses to set up their own online marketplaces. Shopify’s platform is very inclusive, providing appropriate solutions for everyone from the first-time entrepreneur to large cap companies. In Q2 2021, Shopify surpassed Amazon in terms of quarterly customer traffic for the first time.
A stock that could become a massive market winner
Today, businesses rely on technology more than ever. This is true for many aspects of everyday operations. From accounting to payroll and more, businesses are incorporating more technological solutions in order to streamline operations. When it comes to employee training, Docebo (TSX:DCBO)(NASDAQ:DCBO) stands out from its peers. It offers a cloud-based and AI-powered eLearning platform to enterprises.
Docebo has already managed to attract many impressive customers such as Amazon and BMW. As remote work continues to dominate the business world, it should only be a matter of time until more big-name customers turn to Docebo’s eLearning platform. This company has great growth potential.
Invest in renewable energy
If we’ve learned anything in the recent weeks, it’s that gas prices are very susceptible to global events. That gives another reason why investors should focus on the renewable energy industry. Over the past few years, businesses and governments alike have already started to turn to renewable sources of power, pushing stocks in this area to new heights. Of all the companies in that industry, Brookfield Renewable (TSX:BEP.UN)(NYSE:BEP) is my top stock.
Brookfield Renewable operates a portfolio of diversified assets capable of generating more than 21,000 MW of power. Upon the completion of its current construction projects, the company estimates that it will more than double its current generation capacity. That would solidify its position atop a very important and growing industry.
