Yahoo Finance 2 TSX Growth Stocks That Could Turn $10,000 Into $23,798 by 2030
Written by Amy Legate-Wolfe at The Motley Fool Canada
If you’re looking for top growth stocks, it can be tempting to look for companies that are newer. Ones that everyone is excited about and everyone wants in on. However, I would urge you not to consider this method.
Instead, look for companies that have seen steady and continued success. In this case, there are certainly two growth stocks that are due for even more in returns in the years to come. So, let’s get right into them.
goeasy
Let’s look at recent growth stock goeasy (TSX:GSY). While growth has been absolutely insane, the company has remained steady for decades. This comes from a steady and reliable industry that will only grow more steady and more reliable in the decades to come.
goeasy stock is a leading Canadian financial services company focusing on providing non-prime consumers with access to easy and affordable financial solutions. The company operates through two main segments: easyfinancial, which offers unsecured installment loans and secured installment loans, and easyhome, which provides furniture, electronics, appliances, and other household items through lease-to-own agreements.
In recent years, goeasy has experienced significant growth and expansion, both organically and through strategic acquisitions. The company has a strong retail presence across Canada, with hundreds of branches serving communities from coast to coast. Additionally, goeasy has embraced digital technologies to enhance its customer experience and streamline its operations.
Even as the budget last year stated that the annual percentage rate would need to come down for companies like goeasy stock, management was unbothered. That’s because it looks as though it will weed out the rabble and leave the company with even more clients. So, no matter the market, goeasy stock looks like a win. And with shares up 280% in the last five years alone, this could easily happen again before 2030. If you were to invest $5,000 today, that would then turn into $13,798.40 by 2030 as of writing.
Topicus
Another company that investors should highly consider is growth stock Topicus (TSXV:TOI). On the surface, this looks like a new stock. However, the company is a spinoff of highly successful growth stock Constellation Software.
While Constellation stock focuses on North America, Topicus is located in Europe. It is a technology company that specializes in developing software solutions for various industries, including government, healthcare, finance, education, and real estate.
Just as with CSU, Topicus focuses on creating software products that help organizations streamline their operations, improve efficiency, and deliver better services to their customers or constituents. These products often leverage advanced technologies such as artificial intelligence, machine learning, data analytics, and cloud computing to provide innovative and scalable solutions.
The company has proven its worth, with shares climbing as CSU management continues to guide the stock to greatness. So, really, with CSU stock now in the four-digit share price range, you could see something similar in the near future for Topicus stock as well.
For now, shares have doubled since coming on the market in 2021. That should easily happen again before 2030, making this another growth stock to consider. That would mean today’s shares invested at $5,000 could turn into $10,000 by 2030. Together with goeasy stock, you could then have a total of $23,798.40 in just a few years.
The post 2 TSX Growth Stocks That Could Turn $10,000 Into $23,798 by 2030 appeared first on The Motley Fool Canada.
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Fool contributor Amy Legate-Wolfe has positions in goeasy and Topicus.com. The Motley Fool has positions in and recommends Topicus.com. The Motley Fool recommends Constellation Software. The Motley Fool has a disclosure policy.
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