Business & Investment

4 Top TSX Stocks That Make You Lucky

Investors have recently been worried about market recessions and even market crashes. And it seems that it may be in progress.Some of my favorite stocks TSX We are currently seeing a significant setback. This is primarily the technical sector, and many inventories have been steadily declining since the vaccine was announced last year.

But if you are a long-term investor, it leaves you a strong opportunity. You can get short-term and long-term profits from these solid companies.In fact, you may even see some returns that make you lucky By St. Patrick’s Day! Therefore, think of these four strains as your own four-leaf clover.

Canopy growth

Canopy growth (TSX: WEED)(NYSE: CGC) It has been boosted since the November elections in the United States. Several new states have legalized the use of recreational marijuana. However, President Joe Biden also announced that his administration would decriminalize cannabis by the federal government. This is a big step towards legalizing cannabis nationwide.

Still, stocks continue to fall as the market experiences this recession. If you need a stock that can see you at a strong price for decades, consider a canopy. Canopy Growth has already begun approving a partnership to become the largest distributor in the world’s largest cannabis market. And since December 2020, when it was on its way back from the crash, it hasn’t been traded at this price. Buying this cannabis stock in the long run may be exactly what your portfolio needs.

Kinaxis

Another stock that has seen a big setback Kinaxis (TSX: KXS) afterwards Revenue.. Were they bad? Far from that! The company is making strong profits throughout the year, and investors are afraid that the best is over. But if you are a long-term investor, now is a great time to buy another stock of this company.

Kinaxis’ supply chain management Software-as-a-Service (SaaS) system is exactly what businesses need today and during a pandemic. Focusing on enterprise-level businesses around the world, no company makes up more than 5% of its diverse portfolio. Supply chain management is essential in today’s world. Therefore, buying now can double your investment in a very short period of time. Stocks have fallen 27% from their August peak and are still up 20% since the crash last year. Still, inventories have increased by 262% over the last five years, with an annual compound interest growth rate of 30%.

Shopify

If there’s one company to buy now with this pullback, Shopify (TSX: SHOP)(NYSE: SHOP).. The company has seen a significant decline since reaching a record $ 1,900. But if you are a long-term buyer, you will definitely want to consider this stock.

Shopify has had a great year of revenue. Recent reports have once again infuriated shareholders as management said it was unlikely that a year like 2020 would be seen again. However, many projects were underway and we were still optimistic about future growth. Still, the pullback came from fear. So don’t be afraid. Get greedy and board this stock before it soars again.

Dyes and Durham

If there is one company that is stable, it is Dyes and Durham (TSX: DND).. The company provides software and technology support to almost the last failed industries, such as law firms and government agencies. Therefore, when it comes to SaaS, it is no more stable than this inventory.

The company has grown rapidly through its acquisition strategy and will continue to grow. In fact, management expects adjusted EBITDA to rise 116% by 2009 and 150% by 2010. Once again, the market share is declining simply because we are in the tech sector. At the time of writing from the record high, the share has decreased by 24%, providing a reliable shot with a quick return.

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Stupid contributor Amy Legate-Wolf It owns shares in Canopy Growth, Kinaxis INC, and Shopify. Tom Gardner I own a stake in Shopify. Motley Fool owns and recommends shares in Shopify and Shopify. Motley Fool recommends KINAXIS INC.

4 Top TSX Stocks That Make You Lucky

https://www.fool.ca/2021/03/07/4-top-tsx-stocks-to-make-you-lucky/ 4 Top TSX Stocks That Make You Lucky

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