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Growth stocks can be very exciting positions to hold in a portfolio. As the name suggests, these stocks tend to have outstanding growth potential. By holding enough shares of solid growth stocks, investors could see their portfolio grow by many multiples over the years. Often, growth stocks run up in value very quickly. This makes it difficult for investors to accumulate shares over time. In this article, I’ll discuss three top growth stocks that are offering great discounts today!

Invest in the e-commerce industry

If there’s one area that excites me the most, it would be the e-commerce industry. It’s very easy to see that this portion of the retail industry is growing at a rapid rate. Although the growth seen over the COVID-19 pandemic may be behind us, I believe there’s still a lot of future growth available. Many big-name retailers are still making the move over to online retail, and it should benefit companies like Shopify (TSX:SHOP)(NYSE:SHOP) in the long run.

Shopify provides a platform and many of the tools necessary for merchants to operate online stores. In 2021, Shopify made headlines when the company announced that it had been chosen by Netflix to power its official online store. As of this writing, Shopify stock trades about 43% down for the year. This is a great stock that leads an important and emerging industry. Investors should take note and jump on this opportunity.

Include renewables in your portfolio

Investors should also take note of the action surrounding renewable energy. Within that broader umbrella, I prefer to focus on the renewable utilities industry. Many governments and businesses alike are shifting operations to become more environmentally friendly. This increases the demand for renewables and should drive stock prices higher over the long run.

Brookfield Renewable (TSX:BEP.UN)(NYSE:BEP) is my top choice within this area. What interests me about this company is that Brookfield has managed to solve the issue of scalability. This is often the limiting factor when it comes to utility companies. It operates a massive portfolio of assets capable of generating more than 21,000 MW of renewable power. Its development pipeline also totals 62,000 MW of power. Year to date, Brookfield stock is up nearly 16%. However, it still trades about 18% lower than its all-time highs.

Buy this top stock

Topicus.com (TSXV:TOI) is a stock that has interested me since its IPO. Formerly a subsidiary of Constellation Software, Topicus has shown that it has the ability to adapt Constellation’s proven playbook and make it work for itself. In its first year of trading, Topicus stock rose more than 120% before succumbing to the market correction earlier this year.

Like its former parent company, Topicus is an acquirer of vertical market software companies. It differentiates itself by focusing on the highly fragmented European tech industry. I believe that an investment in Topicus could be similar to buying shares of a very young Constellation Software. If this company could generate returns at even half the rate of Constellation Software, investors should be very happy in the long run.

The post No April Fool’s Joke: 3 Growth Stocks Offering Great Discounts Today appeared first on The Motley Fool Canada.

More reading

• 3 Top TSX Tech Stocks for April
• Why Shopify Stock Plunged 52% in Q1 2022
• Make a Fortune From 2 Growth Stocks
• Don’t Let These 3 Stocks Trick You on April Fool’s
• 3 Top Stocks to Buy in April

Fool contributor Jed Lloren owns Brookfield Renewable Partners, Shopify, and Topicus.Com Inc. The Motley Fool owns and recommends Shopify and Topicus.Com Inc. The Motley Fool recommends Constellation Software and Netflix.

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By: Jed Lloren
Title: No April Fool’s Joke: 3 Growth Stocks Offering Great Discounts Today
Sourced From: www.fool.ca/2022/04/01/no-april-fools-joke-3-growth-stocks-offering-great-discounts-today/
Published Date: Fri, 01 Apr 2022 19:45:00 +0000

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