Money TFSA Investors: 1 Little-Known Stock That Has Doubled Like Shopify (TSX:SHOP) in 2019
3 Things to Do Today If You Want to Get Your TFSA to $1,000,000
The dividend income that you'll earn from a stock like Enbridge Inc (TSX:ENB)(NYSE:ENB) can play a big role in your retirement plan.Canadians are in a lot of debt and there are reports that suggest a good chunk of the population is living pay cheque to pay cheque. Credit card debt is undoubtedly a big reason behind that. For investors seeking to build a nest egg for retirement, the very first thing they should work on clearing off any debt that isn’t attached to a home.
High-growth stocks are best stashed in a TFSA, no matter how high they appreciate, investors don’t have to worry about potential capital gains taxes in the future.
Shopify’sstock has been for TFSA growth investors over the past few years due to its massive share price gains over the period which top 656% since three years ago.
Shares have always been expensive, but investors have continued to push the valuation up a 117% year-to-date as the market still sees further growth in the company’s client base, merchandise processing volumes and, most important, profitability potential as visionary Tobias “Tobi” Lütke and his team continue to innovate and build a more robust ecosystem around the business.
Turn Your $69,500 TFSA Into a Million by Investing Like This
BMO Low Volatility Canadian Equity ETF (TSX:ZLB) makes it easy to invest systematically, so you can hit the million-dollar TFSA milestone in as little as two decades.It’s vital that you contribute the maximum amount you’re able and use the proceeds to invest in stocks, because by procrastinating and waiting for the markets to crash, you stand to lose a tremendous amount of capital appreciation, especially if you’re a young investor, like a millennial, who’s decades away from your expected retirement date.
Revenue has continued to grow exponentially over the past three years to US$1.07 billion (C$1.41 billion) last year and the latest guidance is for invoices worth US$1.555 billion (C$2.06 billion) for a further 45% growth in the top line for 2019 and the company’s operating losses have been narrowing significantly and consistently over several recent quarters.
This firm is indeed a great tech business being built that strongly speaks to the dreams of every aspiring entrepreneur globally to open an online shop and get all supporting services inside the ever-expanding Shopify ecosystem to a growing merchant population that reached the one million mark recently.
That said, there’s this fast-growing cannabis related firm that has continued to impress against all industry odds as pears tumbled this year.
TFSA Investors: Is This 1 Stock The Energy Titan of 2020?
Kelt Exploration Ltd. is on track to achieving positive retained earnings. Is it a good stock for your TFSA or RRSP?The reason why this is important for investors is because positive retained earnings indicate the company has had more years of net income than net loss. The company I am referring to is Kelt (TSX:KEL), which is focused on the exploration, development and production of crude oil and natural gas resources in northwestern Alberta and northeastern British Columbia.
Little-known Valens GroWorks Corp (TSXV:VGW) is the new leader in the provision of extraction services for cannabis and hemp biomass to the budding marijuana industry,
Valens stock has been one of the hottest tickers on the TSX’s junior and incubatory exchange platform, the TSX Venture. Price gains stand about 110% so far in 2019 and shares have returned a 734% investment return over the past three years.
Unlike other cannabis tickers that have largely tanked this year, Valens has continued to impress in 2019.
The company’s latest financial reports for the third quarter of 2019 showed a sequential revenue growth of 87% over the second quarter. Gross margins have expanded unbelievably from just 38% of revenue in February to 58% in May 2019 before hitting the 78% mark for the quarter ended in August this year.
This was a massive quarter-on-quarter improvement that enabled the company to report its first quarterly net profit this year (a big 36% net profit margin) and positive adjusted EBITDA margin of over 59%.
TFSA 101: You Can Earn an Extra $775 Per Month in Tax-Free Retirement Income With This Stock
Buy Restaurant Brands International (TSX:QSR)(NYSE:QSR) stock to hugely benefit from international growth in its Popeyes franchise.In simple terms, this means that all the money flowing out of the cannabis sector has to land somewhere, and it usually lands with safe, blue-chip stock that investors are familiar with and understand. A very good example of that type of stock is Restaurant Brands International(TSX:QSR)(NYSE:QSR). I recently wrote about how this company is leveraging technology and its international expansion plans to accelerate growth.
Business is expected to grow further into the next year after the company won a contract with Shoppers Drug Mart to be the third-party supplier of cannabis oil products to the pharmaceuticals retailer’s online stores.
Further, Valens is poised to partake in the cannabis 2.0 edibles market too. Management announced a new five-year deal with Iconic Brewing that will see the company manufacture over 2.5 million cannabis beverages.
The small firm has impressive profitability profiles and there’s growth potential here after a recent acquisition. My only concern is whether its current clients will not build their own extraction facilities to avoid outsourcing the value addition service in the long term, but the company is winning new long-term contracts from the best financed industry players right now.
It may be fine to assume that VGW may maintain its specialist niches for a long time to come.
One little-known Canadian IPO has doubled in value in a matter of months, and renowned Canadian stock picker Iain Butler sees a potential millionaire-maker in waiting…
Millennials: How to Build a $1 Million TFSA
This past decade has seen some fortunate investors build a $1 million TFSA, but the long game is still the most reliable path to wealth creation.Since its inception, the Tax-Free Savings Account (TFSA) has attracted special attention because of the way some investors have managed to rack up huge tax-free gains.
Because he thinks this fast-growing company looks a lot like Shopify, a stock Iain officially recommended 3 years ago – before it skyrocketed by 1,211%!
Iain and his team just published a detailed report on this tiny TSX stock. Find out how you can access the NEXT Shopify today!
- Is the Ultimate AI Stock
Fool contributorhas no position in any of the stocks mentioned. owns shares of Shopify. The Motley Fool owns shares of and recommends Shopify and Shopify. Shopify is a recommendation of Stock Advisor Canada.
TFSA and RRSP Investors: Invest in Value Stocks and Retire Early .
AirBoss of America (TSX:BOS) pays a stable quarterly dividend and is investing in core areas of the business to expand a solid foundation that will support long-term growth. This tiny TSX stock could be the next ShopifyOne little-known Canadian IPO has doubled in value in a matter of months, and renowned Canadian stock picker Iain Butler sees a potential millionaire-maker in waiting…Because he thinks this fast-growing company looks a lot like Shopify, a stock Iain officially recommended 3 years ago – before it skyrocketed by 1,211%!Iain and his team just published a detailed report on this tiny TSX stock.