2 Tech Stocks Could Build Your Wealth Faster Than Shopify (TSX: SHOP) –

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2 Tech Stocks Could Build Your Wealth Faster Than Shopify (TSX: SHOP) – fr


the Indice composé S & P / TSX reached an ultra-daily high of 19,582.40 on May 20, 2021, before settling at 19,527.30 to end the trading day. Likewise, all 11 primary sectors are in positive territory, including the tech sector, which is finally coming to life this year.

Shopify and the rest of the industry constituents were the runaway winners in 2020, but underperforming in 2021. The ecommerce platform is the recognized leader, although two names are better investment choices at the moment. You can build wealth faster with I can (TSX: MOGO) (NASDAQ: MOGO) et Photon control (TSX: PHO).

Financial literacy and well-being

Fintech company Mogo has outperformed Shopify by one mile so far in 2021 (+ 89.88% vs. + 2.54%). There is also a considerable disparity in price, as high-tech TSX stocks are trading at $ 1,473.78, while you can buy fintech stocks for just $ 9.19 per share. Market analysts recommend a buy rating for Mogo and forecast a potential rise of 74% to $ 16 over the next 12 months.

Vancouver’s $ 595.5 million business is new to Canadians, especially the younger generation. Mogo’s financial app aims to improve financial literacy and teach users how to develop financial health habits. Its founder, CEO and chairman David Feller is more concise. He said people need better solutions to close the wealth gap.

MogoSpend, MogoMoney, MogoMortgage, and MogoCrypto cover almost the entire financial spectrum. Canadians have a digital spending account and can access personal and mortgage loans. The fintech company has increased its stake in the Coinsquare cryptocurrency exchange to 37%, indicating that it is also targeting crypto investors.

Mogo is seizing the moment in the cryptocurrency world given the accelerated adoption of digital wallets and digital finance. Do not forget about the commission-free trading platform MogoTrade, which will be launched soon. Following its acquisition of Fortification Capital, a Canadian securities broker, Mogo will obtain the necessary licenses, registration and technology to facilitate order management and market data processing.

Strategic agreement

Photon Control goes under the radar, but it outperforms the TSX (+ 12.01%) and the technology sector (+ 1.94%) with its gain of 77.23% since the start of the year. The mission of this Richmond-based $ 376.23 million company is to enable technological advancements through detection. It develops and manufactures tailor-made solutions for the precise requirements of OEMs (Original Equipment Manufacturer).

Besides semiconductors, Photon caters to other high-tech industries such as energy, medicine and research. May 10, 2021, Instruments MKS, a NASDAQ-listed technology company, announced a definitive deal to acquire Photon Control for approximately $ 387 million. Expect the all-cash transaction to close in Q3 2021.

According to John TC Lee, President and CEO of MKS, the acquisition of Photon will help the company achieve its long-term strategic goals of expanding MKS’s portfolio of key technologies to better serve its customers. The board of directors of both companies approved the transaction.

As of May 20, 2021, the stock price was $ 3.58, although the latest development is expected to propel tech action soon. Likewise, the business outlook is encouraging due to the strong demand in the global semiconductor market due to the shortage of chips. MKS Instruments believes that the Photon agreement is strategic because the culture and vision of the companies are similar.

The most efficient of technology

Despite the collapse of Shopify in 2021, the cloud-based multi-channel commerce platform for small and medium-sized businesses remains the main draw for the TSX. However, investors could buy more Mogo and Photon shares and build wealth faster.

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Foolish contributor Christopher Liew has no position in any of the stocks mentioned. Tom Gardner owns shares of Shopify. The Motley Fool owns and recommends Shopify and Shopify and recommends the following options: January 2023 long calls at $ 1,140 on Shopify and January 2023 short calls at $ 1,160 on Shopify.

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