Investing in the stock market is one of the best ways to grow your wealth without significant initial capital. While there is no guaranteed method to turn $15,000 into $150,000, it is possible if you take the right investment approach. To obtain a tenfold return on your investments through stock securities, it is necessary that you have a long-term investment strategy.
Contrary to what some may think, it is possible to buy up certain stocks and leave them alone for a number of years and find that your investment has grown to ten times what you initially invested. The TSX has several stocks that offer substantial value and the growth potential to make you a wealthier investor.
Today I will discuss three TSX growth shares with such potential.
Celestica
Celestica (TSX:CLS) is a Canadian technology stock that has benefited from the increase in artificial intelligence (AI) adoption. While it’s not exactly pure play AI StocksCLS has a business model that can leverage growing demand. The company produces the components that power the AI industry, something that is arguably more important than the big AI stocks.
The company’s operating margins have soared and management saw it raise 2025 guidance after setting new records in the second quarter. At the time of writing, Celestica stock is trading at $389.08 per share, a massive 407% increase from its 52-week low. Since there is still plenty of upside potential, this could be the right time to invest in its shares.
easy
easy (TSX:GSY) is a Canadian company with a market cap of $2.56 billion that provides significant relief to Canadians who are unable to obtain loans from traditional lenders. Typically, lenders do not allow people with poor credit scores to take loans from them due to the higher risk of default. However, companies like goeasy are making it easier for subprime lenders to get unsecured installment loans.
It is a leading player in the subprime lending market and has a huge customer base to tap into. The company has rapidly scaled its operations over the years, increasing revenue and profits at a rapid pace. At the time of writing, goeasy stock is trading at $159.40 per share and boasts a 3.66% dividend yield that you can lock into your portfolio.
Lightspeed trading
Lightspeed trading (TSX:LSPD) has a market cap of $2.19 billion tech stocks which started as a Point-of-Sale software supplier, but has now grown into a huge company. It is now an omnichannel and commercial Software-as-a-Service platform. It provides functionality that customers need to connect with end users, manage activities, accept payments and grow their business.
After the short seller report triggered a massive sell-off that coincided with the collapse of the tech sector a few years ago, the stock has struggled to recover to its all-time high in the stock market. However, the company itself is doing well. In the most recent quarter, LSPD’s revenue grew 15% year over year. The company also plans to buy back 12% of its shares in 2025. It has all the makings of a stock with double-digit growth in the coming quarters.
Silly takeaway
Getting a tenfold return on your investment doesn’t come from timing the market or chasing the hype around the market’s hottest stocks. Rather, it comes from identification fundamentally strong companies with the ability to grow their turnover and profits year in, year out.
While no investment is risk-free, investments with solid underlying companies have the best chance to succeed and achieve multi-bagger returns. With this in mind, Celestica, goeasy, and Lightspeed Commerce stocks may be good investments to consider for your self-directed investment portfolio.
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