The holidays are right around the corner, and that means Christmas shopping is about to be in full swing. Stocks don’t tend to go on sale for the holidays, but this year, the market seems to be giving investors a great opportunity. Over the past little while, growth stocks have been very volatile and generally trending downward. This gives investors an excellent opportunity to pick up shares at a low price. In this article, I’ll discuss three stocks on my holiday shopping list.
This stock won’t suffer forever Throughout 2020, Docebo (TSX:DCBO)(NASDAQ:DCBO) was one of the biggest winners on the stock market after gaining more than 400%. However, to start this year, the stock struggled. Docebo stock fell about 40%, as it needed time to cool off after a red-hot first full year of trading. Since hitting its lowest point in March, Docebo stock rallied to all-time highs, gaining about 140%. Unfortunately, the stock has once again been trending downward since mid-September. Today, it trades about 20% from its all-time highs.
Despite Docebo stock’s disappointing performance over the past couple months, investors should still be very interested in this company. Many large enterprises have stated their plans to continue operating remotely, even after the pandemic is long gone. This means that Docebo’s cloud-based and AI-powered eLearning platform will continue to be in high demand. With many large companies relying on its software to power their employee-training programs, Docebo has a chance to become the next stock market monster.
This company will help power our society in the future In many areas of the world, renewable forms of energy are being relied upon more than ever before. This is great news for renewable utility companies. Brookfield Renewable (TSX:BEP.UN)(NYSE:BEP) is one of the largest producers of renewable energy in the world. It operates a diverse portfolio of assets capable of producing about 21,000 MW of power. Upon the completion of its current construction projects, the company estimates it will be able to generate an additional 31,000 MW of power.
From the start of 2019 to the end of 2020, Brookfield Renewable managed to outperform the broader market by a wide margin. Over that period, Brookfield Renewable stock gained about 200%. However, this year hasn’t been as kind to the company. Since the start of the year, Brookfield Renewable stock has fallen more than 18%.
There haven’t been many positive moments for the stock this year. However, the company continues to execute at a high level. Investors are hoping it’s only a matter of time before the market begins to appreciate the company once again. Now’s the time to buy shares.
Buy a top growth stock this holiday season When considering companies that I would buy this holiday season, it’s hard to ignore my favourite growth stock on the TSX. Shopify (TSX:TSX:SHOP)(NYSE:SHOP) is a generational company, much like Amazon (NASDAQ:AMZN) in the early 2000s and Apple (NASDAQ:AAPL) in the 2010s. Shopify is a leader within the e-commerce industry. It provides merchants of all sizes with a platform and all the tools necessary to operate online stores with ease.
Shopify has been a major winner since its May 2015 IPO, gaining about 5,800%. Today, the company is valued at about $260 billion. I’m a strong believer that Shopify could become Canada’s first $1 trillion company. If that happens, investors could see a nearly four-fold return from here. It’s always a good day to consider adding Shopify to your portfolio. It’s a stock that is definitely on my holiday shopping list.
The post 3 Stocks on My Holiday Shopping List appeared first on The Motley Fool Canada.
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Fool contributor Jed Lloren owns shares of Apple, Brookfield Renewable Partners, Docebo Inc., and Shopify. The Motley Fool owns shares of and recommends Shopify. The Motley Fool recommends Amazon, Apple, and Docebo Inc.
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