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3 of the Best Canadian Growth Stocks That Just Went on Sale

Stock MarketsNov 30, 2021 14:16
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3 of the Best Canadian Growth Stocks That Just Went on Sale

Over the last few weeks, and especially last Friday, we have started to see volatility increase in stock markets. And while there are certainly Canadian stocks being impacted in this economic environment, other growth stocks have been oversold, creating an excellent opportunity for investors today.

The key is keeping a long-term mindset and looking at the big picture whenever stocks sell-off.

So if you’re a growth investor looking for some of the best companies to buy, here are three Canadian growth stocks that have been oversold in the recent market pullback.

A leading Canadian retail stock One of the best Canadian stocks you can buy right now that’s recently sold off from its 52-week high is Canadian Tire (TSX:CTC.A).

Canadian Tire has been one of the top Canadian retail stocks you could own for a while. However, over the last year and a half through the pandemic, it has reminded investors what an excellent stock it can be.

Its portfolio of retail banners offers diversification but also attractive synergies, and its commitment to building out its e-commerce operations prior to the pandemic has also helped the company to perform well through the pandemic.

It’s proven now time and again that it can grow both organically and by acquisition, making it an attractive Canadian stock for long-term investors. And now, at approximately $170 a share, Canadian Tire is roughly 20% off its 52-week high.

So if you’re looking for a Canadian growth stock to buy today, Canadian Tire offers some of the best value.

An excellent green energy stock Another excellent Canadian growth stock and one of the best to buy while it’s still undervalued is Brookfield Renewable Partners (TSX:BEP.UN)(NYSE:BEP). At roughly $45.50 per unit, Brookfield is almost 30% off its 52-week high and only slightly above its 52-week low.

This makes now one of the best times to buy the high-quality Canadian growth stock, especially since the green energy industry, as well as Brookfield’s operations, should only continue to grow over the long run.

Brookfield is a massive renewable energy stock with operations located all over the world. The company has some of the best management, and because it has so much access to capital, it has some of the best deal flow in the industry.

Brookfield partnerships are generally managed to perform well and maximize unitholder value over the long term, which is why they are investments you’ll want to own for years. It also means that having the opportunity to buy these stocks at a significant discount is attractive, which is why Brookfield Renewables has to be one of the best Canadian growth stocks to buy today.

A top crypto stock Finally, with the significant selloff in cryptocurrencies during the heightened market volatility recently, Voyager Digital (TSX:VOYG) has sold off considerably and now offers an exciting entry point.

Voyager is one of the top crypto stocks you can buy, especially if you would rather have exposure to the growing popularity of the entire cryptocurrency industry rather than just gain exposure to a single coin.

Voyager operates a cryptocurrency app in the United States that allows users to buy several of the most popular cryptocurrencies and onboard their cash into the crypto universe.

The company has seen its operations expand considerably as the industry grows and as it continues to make improvements to its platform. In addition, the launching of its own token has been another excellent way to attract users. The Voyager token is now in the top 100 most valuable coins in the world and has a market cap north of $1 billion, showing how popular Voyager’s platform has been.

So if you’re looking for a high-quality Canadian crypto stock to buy on sale today, Voyager Digital is one of the best.

The post 3 of the Best Canadian Growth Stocks That Just Went on Sale appeared first on The Motley Fool Canada.

Fool contributor Daniel Da Costa has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

This Article Was First Published on The Motley Fool

3 of the Best Canadian Growth Stocks That Just Went on Sale

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