Growth stocks have a reputation for generating substantial wealth for investors over the long term. Moreover, one doesn’t necessarily need a large capital to invest in these stocks and achieve above-average returns. Even a modest investment of $50 can be a starting point for investing in top Canadian growth stocks.
Despite the upward trend in many growth stocks over the past year, several high-quality remain priced below $50. While many growth stocks have trended higher over the past year, a handful of high-quality are still under $50. These stocks are trading at attractive valuations with solid fundamentals and significant growth prospects.
In this context, let’s explore three Canadian growth stocks I’d buy under $50. ( ) stock is one of the top stocks to buy now. Lightspeed stock has declined about 32% this year and is trading near its 52-week low.
The fear of an e-commerce slowdown has weighed on the stock. While the selloff has driven Lightspeed’s valuation near an all-time low, the company’s fundamentals are intact, with Lightspeed consistently generating durable revenues. Also, it is heading towards achieving profitability soon, which will likely significantly boost its share price.
The is well-positioned to capitalize on the structural shift in selling models towards multi-channel platforms. Lightspeed is expected to witness higher demand for its products and services as small- and medium-sized enterprises (SMEs) upgrade their traditional payment systems and .