3 Canadian Stocks With Growth Potential in 2023

Despite concerns about economic growth stalling in 2023, there are still a number of Canadian stocks that are expected to continue growing rapidly. In 2022, many Canadian stocks have declined in value due to various challenges, such as high inflation and increasing interest rates. Investors have become cautious due to fears about the economy’s ability to grow next year. 

Some companies listed on the Toronto Stock Exchange may also be affected by these challenges in 2023. However, there are still a number of stocks worth considering, including some that have recently sold off, that are expected to continue growing in the coming year. These five stocks could be good options for investors looking for growth.

The best retail stock options for Canadian investors

Aritzia is a retail company that is expected to continue growing rapidly, even as rising inflation affects many other retail and consumer discretionary stocks. The company has consistently performed well, expanding its business across North America even during the pandemic. 

Aritzia has a strong brand that has gained a loyal following, and it has plenty of room for growth as it continues to open new boutiques in North America. According to analysts, the company’s sales are expected to grow by over 26% in its fiscal 2023 year. Aritzia’s stock has been recovering recently, but if it experiences a dip in the future, it could be a good opportunity for investors to buy.

The best growth stock option for Canadian investors

Even though Shopify’s stock has experienced a major decline this year, falling over 75% year-to-date, it is still a good stock to consider for long-term investment. The company has a strong market position in its industry, which is expected to continue growing in the coming years. 

Analysts predict that Shopify’s revenue will increase by nearly 25% in 2023, following a similar growth rate this year. Currently trading at a discounted price and with a long growth potential ahead, Shopify is a good choice for investors looking for Canadian growth stocks.

A solid financial stock option for Canadian investors 

goeasy is a financial services company that has experienced a significant decline in its stock price this year, making it a potentially good opportunity for investors. The company provides loans to consumers with below-prime credit ratings, which carries some level of risk. 

However, goeasy has a track record of being resilient and has consistently performed well, even in difficult economic conditions. Sales are expected to grow by over 23% this year and another 18% next year. goeasy’s stock currently trades at a low price, making it a stock worth considering for your watchlist.


Stockwire Inc. does not hold a position in the securities and/or financial instrument(s) mentioned herein, has not received any compensation, whether in securities or monetary form, for the content of this publication by any company mentioned herein and does not stand to benefit from any volume generated by this publication. Stockwire Inc. and its authors do not provide investment advice or recommendations regarding the purchase or sale of any securities. Investors are responsible for their own investment decisions. Any information, opinions or views provided in this document, including hyperlinks to the Stockwire website or the websites of its affiliates or third parties, are for your general information only, and are not intended to provide legal, investment, financial, accounting, tax or other professional advice. While information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author(s) as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Stockwire Inc. or its affiliates. You should conduct your own research and consult with your qualified advisor before taking any action based upon the information contained in this document. Stockwire Inc. and its affiliates do not accept any liability for any for any investment decisions made based on the information provided in this document.

Furthermore, the products, services and securities referred to in this publication are only available in Canada and other jurisdictions where they may be legally offered for sale. If you are not currently a resident of Canada, you should not access the information available on the Stockwire Inc. website.

For more information on our terms and conditions of use, please see and and