Yahoo Finance Canadian Stocks to Buy Now: 2 Growth Picks for 2021
Heading into the new year, there are always high-quality opportunities for investors, but 2021 may be one of the most opportune years in recent memory. In addition to the numerous opportunities created by the recovery from the coronavirus pandemic, there are other unrelated Canadian stocks with a tonne of potential that you’ll want to buy now.
The fact that the pandemic continues to dominate the headlines has given less attention to these other opportunities. So, when the broader market sees the long-term potential of these stocks, they could skyrocket rapidly.
Investors always want to find the best-performing stocks. However, what’s better than finding a stock that will rally for a year or two is finding one that you can add to your portfolio for the long term.
So, while the pandemic created tonnes of impressive returns for some Canadian stocks, we want to find stocks that will continue expanding their operations long after the pandemic is over.
With all that in mind, here are two of the most promising Canadian growth stocks to buy now.
Drone delivery tech stock that’s about to take off
The first Canadian stock to consider adding to your portfolio for 2021 is a promising micro-cap stock, Drone Delivery Canada (TSXV:FLT).
Drone Delivery Canada is a tech stock that’s been building and refining its drone delivery technology for nearly a decade. Drones present an incredible long-term opportunity, so the fact that FLT is leading the way in Canada gives it a tonne of long-term potential.
The stock got a little attention earlier this year and took off considerably. So, when more investors see the potential of Drone Delivery in 2021, there may not be another chance to get it this cheap. This is why it’s one of the best Canadian stocks to buy now.
So far, the company has made great strides figuring out logistics, payloads, and other technical information that will be crucial to get the drones off the ground. It continues to get closer to launching commercially, which is why there may not be a better time to add Drone Delivery Canada stock to your portfolio.
Canadian clean energy stock to buy now
In addition to drone delivery, some of the other top Canadian stocks to buy now are renewable energy companies. Renewable energy is an industry that’s only scratching the surface. So, with a lot more work to be done to reduce greenhouse gasses and more energy demand that will be coming online over the next decades, green energy has a tonne of long-term potential.
That’s why these are some of the best Canadian stocks to buy now. Investors have already taken notice, which is why green energy stocks performed so well in 2020. However, there is still a tonne of upside over the next decade. Plus, most of the attention in green energy has gone to the companies that generate renewable energy.
Don’t get me wrong; these stocks will be a great addition to your portfolio. However, the fact that all the attention is on the generators has left alternative renewable energy companies like Xebec Adsorption (TSXV:XBC) with a tonne of value.
Xebec has been growing consistently all year, up more than 300%. However, despite its incredible performance this year, the company is still a small cap. Plus, it’s made a string of acquisitions as of late, which only increases its prospects for long-term growth.
Governments are increasingly incentivizing businesses to reduce their carbon emissions. So, demand for Xebec’s products will only continue to increase over the foreseeable future.
With all the momentum, though, the longer you wait, the more expensive the stock will likely be. That’s why Xebec is one of the top Canadian stocks to buy now.
The post Canadian Stocks to Buy Now: 2 Growth Picks for 2021 appeared first on The Motley Fool Canada.
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Fool contributor Daniel Da Costa owns shares of Xebec Adsorption Inc.
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