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Is 10 years enough time to make you rich? It depends on the amount you are investing and how much you expect to earn. If you want to convert $50,000 into $500,000, you need a Canadian stock that can provide a 26% compounded annual growth rate (CAGR). And if you want $250,000, you need a stock that can provide a 17.5% CAGR. For 26% CAGR returns, you need high-growth tech stocks that are shaping the future, such as those involved in artificial intelligence (AI). For a 17.5% CAGR, a resilient tech stock is what you need.
The Canadian stock that could give you a 26% CAGR in 10 years
If you are looking for a single stock that can give a 10 times return in 10 years, you need to invest in a futuristic Canadian stock with a competitive advantage. Tech stocks worth considering are Topicus.com (TSXV:TOI) for risk-averse investors or HIVE Digital Technologies (TSXV:HIVE) for risk-taking…
