3 stocks to keep for the next decade – .

3 stocks to keep for the next decade – .

The Canadian stock market has many companies that are more than worthy of your portfolio. However, it is impossible to own all of these companies. So at some point investors will have to decide which ones to hold. In this article, I’ll discuss the top three stocks to own for the next decade.

This company is leading the retail revolution

One of the biggest secular trends today is the adoption of e-commerce. Consumers have slowly increased their online spending over the past decade. However, the past year marked a significant increase in spending at online retailers. Much of this was due to the pandemic that prompted governments around the world to impose stay-at-home restrictions and business closures. Shopify (TSX: SHOP) (NYSE: SHOP) has been a major player in helping businesses deliver online retail solutions.

Today, over 1.1 million merchants worldwide choose Shopify to operate their online stores. Because of its sticky platform, Shopify has managed to see impressive revenue growth every year. From 2019 to 2020, the company recorded an 86% increase in its total revenue. In its latest earnings report, Shopify reported a 110% year-over-year increase in first quarter revenue. Some investors fear that Shopify’s best days are behind them. However, the numbers tell a completely different story.

Digital payments are becoming essential

Like the growing reliance on online retailing, consumers and businesses are increasingly relying on digital payment solutions. These services allow us to make payments using different methods from anywhere in the world. Nuvei (TSX: NVEI) is the leading digital payments provider in Canada. The company made headlines in September when it closed the largest tech IPO in Canadian history.

Over the past month and a half, Nuvei has announced major developments regarding its business. First, the company announced that it had been licensed to provide sports betting and online gaming services in Michigan. Second, the company announced that it has agreed to buy Simplex, a fintech startup that provides a platform for cryptocurrency transactions. In Nuvei’s prospectus, the company announced that it would focus on innovation. These recent developments mean that the company has kept its word.

A reliable industry in Canada

When it comes to investing in Canada, there are so few areas that investors can turn to and expect reliable returns. The Canadian banking industry is a prime example. The Big Five are all great companies to hold in your portfolio, due to their astounding position in the country. Of the big five, Bank of Nova Scotia (TSX: BNS) (NYSE: BNS) is the best choice.

Although his peers have an international presence, they tend to focus primarily on the United States. In contrast, the Bank of Nova Scotia has significant exposure to the Pacific Alliance region. This is a region of Latin America that economists say will grow much faster than that of the G7 over the next few years. If the Bank of Nova Scotia manages to capture a significant market in these countries, investors could earn impressive returns.

Foolish contributor Jed Lloren owns stock in Shopify. The Motley Fool owns shares and recommends Shopify. The Motley Fool recommends BANK OF NOVA SCOTIA and the following options: $ 1,140 long calls in January 2023 on Shopify and $ 1,160 short calls in January 2023 on Shopify.


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