TSX 60: these actions could be massive in 2022


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the TSX 60 is a stock index of 60 major companies listed on the Toronto Stock Exchange. This index is intended to represent leading companies in high-tech industries. As such, new investors looking for interesting stocks to add to their portfolio should take a look at this index. It includes stocks from 10 sectors, giving investors the flexibility to build diversified portfolios based on companies in this index. In this article, I’m going to discuss three stocks that could be huge changes in 2022.

This growth stock should be in your portfolio

It is impossible to write an article presenting the main stocks of the TSX 60 without including Shopify (TSX: SHOP) (NYSE: SHOP). It might seem like a record at this point, but Shopify is truly a generational business. We are currently experiencing a significant shift towards online shopping, and Shopify is playing an important role in that regard. It provides merchants of all sizes with a platform and all the tools necessary to operate online stores. Its clients include start-up entrepreneurs and large-cap companies like Netflix.

Shopify has continued to grow at an impressive rate this year. However, his stock did not gain as much as it normally does. In 2020, the Shopify share gained around 170%. This year, shareholders were only rewarded with a 27% return. However, I think the stock could see a rise if the company releases solid numbers for its fourth quarter 2021 earnings report. Additionally, if investors are given more clarity regarding the current uncertainties around interest rates. and the Omicron variant, then the Shopify share could increase more freely.

A well-known clothing manufacturer

If you’ve ever received a shirt from a school activity or club, there’s a good chance the shirt was made by Gildan sportswear (TSX: GIL) (NYSE: GIL). The company is known to produce clothing at a lower price, while maintaining a high standard of quality.

As many school and club operations were suspended in 2020, Gildan saw a noticeable drop in sales from its 2019 figures. However, while everything is back to normal for most of 2021, the company experienced a very impressive recovery. In the third quarter of 2021, Gildan reported a 33% increase in revenue from the previous year and an 8% increase from 2019. Successes like this have helped Gildan stock earn more than 54% since the start of the year. It’s not the most exciting business in my opinion, but you can’t dispute the numbers.

A game about the renewable utilities industry

The renewable energy utility industry has received a lot of attention over the past two years. This is why, at the start of 2021, valuations have skyrocketed. As a result, many renewable utility stocks have not performed as well this year. However, this trend will not last forever. With the continued increase in demand for renewable energy utilities, this is simply not possible. Ultimately, we should see valuations continue to rise, as corporate profits rise over time.

Because of that, Algonquin Power and Utilities (TSX: AQN) (NYSE: AQN) is a great company to consider adding to your portfolio. In addition to its growth potential, Algonquin has a huge dividend. Not only is he listed as a Canadian dividend aristocrat, but Algonquin has managed to increase his dividend at a double-digit growth rate for 10 consecutive years. In addition, its dividend yield is very attractive (4.73%).


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