According to market analysts, bond rates are on the verge of a downtrend again, with benchmark interest rates expected to decline. This is true in both the Canadian, U.S., and most developed economies. Accordingly, for investors who believe that these lower rates will bleed into even higher stock market multiples, looking at the best-performing growth stocks of 2023 could provide some insights as to where to invest moving forward.
In a sense, the market does appear to be slightly overvalued right now. Maybe that’s sugarcoating it when one looks at historical multiples compared to where stocks are broadly trading today.
However, there is some additional value to be found in somewhat overlooked TSX-traded growth stocks right now. In my view, these three companies could be screaming buys if another hyper-bull market materializes, like what we saw take place following the pandemic.
Let’s dive in!
