- Canada’s main equity index fell by roughly 10 per cent in 2022
- GH stock swelled by almost 22 per cent year-to-date (YTD).
- NPK stocks rocketed by about 668 per cent in 52 weeks
Some TSX stocks priced under C$ 10, like Gamehost (TSX: GH), Verde Agritech (TSX: NPK), MDA (TSX: MDA) etc., could provide substantial growth exposure over the long term.
Growth investing focuses on quality stocks that could outpace the market by offering significant growth in the long run. However, one should note that this strategy involves risk.
Canada’s main equity index fell by roughly 10 per cent in 2022, posting a loss of 0.42 per cent on Friday, July 22. But investors looking for long-term gains could explore the following growth stocks listed publicly on the Toronto Stock Exchange (TSX).
1. Gamehost Inc (TSX: GH)
Gamehost owns and manages gaming and hospitality properties, complemented by its food and beverages business in Alberta. The C$ 189-million market cap company saw its operating revenue gallop by 1254.5 per cent year-over-year (YoY) to C$ 14.9 million in the first three months of FY2022.
GH stock swelled by almost 22 per cent year-to-date (YTD). According to Refinitiv findings, GH stocks had a Relative Strength Index (RSI) value of 53.81 on July 22, noting a moderate trend, supported by the Moving Average Convergence/ Divergence (MACD) indicator coinciding with the base line.
2. MDA Ltd (TSX: MDA)
Space technology and service company MDA announced in July receiving a contract award from York Space Systems to design and build Ka-Band steerable antennas for satellite systems to ensure space security and communications constellations.
The MDA stock plummeted by about 16 per cent so far this year and rose by over eight per cent from a 52-week low of C$ 7.35 (July 14). As per Refinitiv findings, MDA scrip seems to be on a moderate trend with an RSI value of 47.45 on July 22.
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3. Verde Agritech Plc (TSX: NPK)
Verde Agritech is a smallcap agriculture firm offering crop nutrition and protection products. In addition, it provides solutions to improve soil and increase sustainability. The Canadian fertilizer maker reported notable revenue growth of 1260 per cent to C$ 11.30 million in Q1 FY2022 compared to Q1 FY2021.
NPK stocks rocketed by about 668 per cent in 52 weeks. Refinitiv data suggest NPK stocks to be on a moderate trend with an RSI of 53.86 on July 22.
4. Dexterra Group Inc (TSX: DXT)
Dexterra is a smallcap company providing business service and support solutions to private and public sector clients. The C$ 385-million company said its revenue climbed 44 per cent year-over-year (YoY) to C$ 223.96 million in the first quarter of fiscal 2022.
DXT stocks surged by over 10 per cent from a 52-week low of C$ 5.37 (July 6). This business service stock lost more than nine per cent in 12 months. As per Refinitiv data, DXT stocks recorded an RSI value of 54.06 on July 22.
5. BlackBerry Limited (TSX: BB)
BlackBerry is a cybersecurity company with a market capitalization of C$ 4.43 billion. The software company seems to be expanding its business footprints by collaborating with players like Magna (TSX: MG) and LeapXpert.
The BB stock sank by approximately 35 per cent in 2022. As per Refinitiv data, BlackBerry stocks appear to be on a moderate level, with an RSI value of 53.81 on July 22.
High-risk investors could explore these growth stocks under C$ 10 to possibly capture significant gains in the future. Some of these enterprises have seen notable topline growth in their latest quarters. In addition, Gamehost and Dexterra can also bring dividend income.
Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.