Yahoo Finance 3 Stocks up Over 35% This Year
The TSX is having yet another mediocre year with the index showing barely any change from where it started the year. With uncertainty surrounding NAFTA, rising interest rates, and oil and gas continuing to struggle, it’s not a surprise that the Canadian markets have not been strong.
However, there have been stocks that have been able to perform well despite these challenges, and below I’ll highlight three that have risen more than 35% since the start of the year and that could continue to soar.
Shopify (TSX:SHOP)(NYSE:SHOP) has continued to be volatile this year, but overall it has still been able to see its stock price rise around 50% this year. Far from its peak of over $233, there’s still ample room for the stock to continue its climb, as it has been weighed down by a slowing growth rate as well as continued negativity from Citron Research. Sales growth will be the key indicator of the stock’s success, and a strong Q3 could definitely lift the share price back to previous highs.
What makes Shopify an appealing investment and why it has been able to grow so much over the years is that its platform can be used by any online merchant looking to sell something online, and that means a lot of potential customers around the world. Its ease of use and integration with other online sites, including eBay, makes Shopify an easy way for someone to sell through its platform.
Although we’ve seen investors show some hesitation around the company’s slowing growth rate, overall the stock has been very bullish this year, and after a dip in price it may be a great time to buy.
Canada Goose Holdings (TSX:GOOS)(NYSE:GOOS) is another high performer on the TSX, as its share price got a big boost after it reported its Q4 earnings when the company posted impressive growth. The stock is a relatively new one on the TSX, but it has already produced significant returns for investors, climbing more than 260% since being listed on the exchange last March.
Year to date, Canada Goose has already doubled in price, and with continued expansion across the globe, the sky is the limit for the company and its quality clothing.620
What makes the company even more appealing is its focus on direct-to-consumer sales, which allow Canada Goose to take advantage of higher margins by not having to include retailers and other middlemen into the mix. The more this segment grows, the more potential the company has to pad its bottom line.
Great Canadian Gaming (TSX:GC) has been riding high the past year as it continues to win bids to manage more casinos. The gaming industry never goes out of style and it has a lot of potential growth particularly as the economy is doing well, but it’ll also have customers even when times are tough.
Year to date, the stock is up more than 35% and it’s still a great buy today, as the stock trades at a multiple of around 26 times earnings while achieving strong growth.
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Fool contributor David Jagielski has no position in any of the stocks mentioned. Tom Gardner owns shares of Shopify. The Motley Fool owns shares of Shopify and SHOPIFY INC. Shopify is a recommendation of Stock Advisor Canada.
