The Best TSX Stocks to Buy With $1,000 Right Now

The Best TSX Stocks to Buy With ,000 Right Now
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2022 was a year that the stock market spent in an entirely volatile area. However, not all about market volatility is doom and gloom for investors. Stock market downturns and periods of volatility create various opportunities for more sophisticated investors. Depending on the type of risk you are willing to take, there are many excellent assets to explore for your investment portfolio.

Suppose you have a balanced portfolio that can mitigate your losses due to market volatility. If so, you may have a little more wiggle room in your portfolio to explore slightly riskier assets for the potential for higher returns. Today I’ll be reviewing two growth stocks on the TSX that may be ideal choices for growth-oriented Canadian investors.


Dollarama Inc. (TSX:DOL) is an opportunistic pick as we enter the holiday season. This year’s holiday season, like every year, will be filled with celebration, but there will be one key difference from the past few years.

Christmas shopping can finally become an in-person experience again as we enter the post-pandemic era. With high inflation and rising interest rates, Dollarama stock may become the ultimate growth stock this holiday season.

The company, with a market capitalization of $23.3 billion, is Canada’s largest one-dollar retailer with operations across Canada. It also has an international presence through its expanding branch network called Dollar City, which operates in Latin America. Dollar stores do well in uncertain economic times. With the economy in disarray, Dollarama has the perfect opportunity.

As of this writing, Dollarama stock trades for $81 per share, up 27.7% year-to-date from the market. It can be an excellent investment before the Christmas boom.

Nutrition Couche Tard

Nutrition Couche-Tard Inc. (TSX:ATD) is another company that has been able to thrive even in economically uncertain times. The $62. A billion-cap company headquartered in Laval is one of the largest convenience store and service station operators in the world.

With a presence in 24 countries and over 14,000 locations, it is well positioned to generate significant revenue regardless of broader market conditions.

Alimentation Couche-Tard’s remarkable rise to such great heights has taken place in just over 40 years. Its aggressive, growth-focused strategy has been successful, with five of the company’s largest acquisitions in the last 10 years alone. By expanding into new markets and applying a strategic M&A strategy, the company has positioned itself as one of the top growth stocks on the TSX for now.

As of this writing, Alimentation Couche-Tard stock is trading at $61.25 per share, up 17.6% year-to-date. It might be the right time to add its stocks to your portfolio before it continues higher.

Stupid take away

It’s important to remember to diversify your stock market investment portfolio. Stock market investing is inherently risky, especially if you’re putting money into growth stocks. Even the most reliable names among Canadian Growth Stocks represent a risk regardless of their track record.

If you’re willing to take the risk of investing in growth stocks because you have a balanced portfolio, Dollarama stock and Alimentation Couche Tard stock can be a great addition at current levels.

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