5 Best Canadian Stocks to Buy Now

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1. Shopify Inc. (NYSE:SHOP)

No of HFs: 81

Total Value of HF Holdings: $7.51 Billion

The number one best Canadian stock to buy now is SHOP. The stock was mentioned as one of the Top 10 Cloud Computing Stocks to Buy. In an article, McLain Capital mentioned that SHOP is the fastest growing yet unprofitable e-commerce platform.

“Shopify (SHOP) : The currently fast growing, yet unprofitable e-commerce platform for retailers trades at a $120bln valuation on $1.6bln in 2019 revenues, a valuation of 75x sales for a company that ran -8% net margins. Assuming the business will run a normal 10% net margin and trade at a generous 25x P/E in 2030, revenue will need to grow by a factor of 80 times current levels for shareholders to earn a 10% IRR over the next 10 years.”

Please also see 10 Best Gold Stocks to Buy Now According to Billionaire Hedge Fund and 10 Best Software Stocks to Buy Now.

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