2 Brilliant Growth Stocks to Buy Now and Hold for the Long Term

There’s no question that the best way to build wealth in the stock market is to buy and hold high-quality stocks for the long haul. And while there are various strategies to consider, few are as effective as finding top-notch growth stocks to buy and simply holding them for years.

The key, though, is holding them for years. That means you don’t just want stocks that are growing today. You want to find businesses with years of potential due to their competitive advantages, strong management teams, and business models that have the ability to continue expanding well into the future.

These are the types of companies that can steadily grow both their revenue and earnings for years to come. That consistent growth is what drives share prices higher over the long haul, creating significant returns for patient and disciplined investors.

So, with that in mind, if you’re looking to buy the dip this week, here are two of the best Canadian growth stocks to hold for the long term.

An impressive Canadian stock to buy now, with years of growth potential ahead of it

There’s no doubt that one of the very best Canadian growth stocks over the last five years has been Aritzia (TSX:ATZ), up over 250% over that stretch.

And while its past performance has been impressive, what’s most compelling about Aritzia is the future growth potential.

Aritzia operates a premium apparel brand that has built an extremely loyal customer base, particularly among younger consumers. That brand strength, combined with strong pricing power, a leading ecommerce platform and vertically integrated operations, has allowed Aritzia to grow both revenue and earnings at an impressive pace.

In addition to its impressive brand strength, though, with high-quality products that consistently resonate with consumers, the biggest driver of Aritzia’s long-term growth potential is its international expansion.

While the company already has a strong presence in Canada, it’s still continuing to expand across the U.S., which could provide decades of growth potential. Furthermore, Aritzia has traditionally been very successful with these new store launches.

For example, its rapidly growing e-commerce platform doesn’t just help drive sales, it also helps Aritzia determine where the most demand is across the country to help guide new store locations.

So, it’s no surprise that these stores often break even within their first 12 to 18 months, and why Aritzia continues to grow its operations at such an impressive pace.

So, if you’re looking for a top-notch growth stock to buy now, Aritzia shares have fallen by roughly 15% since the war in Iran began.

A top healthcare stock you can own with confidence

In addition to Aritzia, another top-notch Canadian growth stock to buy now and plan to hold for years is WELL Health Technologies (TSX:WELL).

WELL Health is one of the best growth stocks to buy for the long haul because it’s constantly expanding its operations, yet it operates in one of the most defensive and essential industries in the economy, healthcare.

For a while, it was known more for its digital health apps and telehealth businesses, especially during the pandemic.

And while it still operates a technology-enabled healthcare platform today, the company now combines digital health services with a growing network of medical clinics across Canada.

In fact, recently WELL has been selling off non-core assets and using the proceeds to continue acquiring new clinics. It is now the largest owner/operator of outpatient medical clinics in Canada.

This is compelling for two reasons. First, WELL has proven it can find these acquisitions at reasonable valuations. And secondly, the constant string of clinic acquisitions significantly improves its scale, which lowers costs.

So not only does WELL acquire these clinics at reasonable valuations, it immediately improves their operations and profitability.

Therefore, given its consistent growth potential and the fact that it operates in one of the most defensive sectors in the economy, there’s no question that WELL is one of the best Canadian stocks to buy now and hold for years to come.

The post 2 Brilliant Growth Stocks to Buy Now and Hold for the Long Term appeared first on The Motley Fool Canada.

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More reading

• Top Canadian Stocks to Buy With $5,000 in 2026
• 2 Canadian Stocks Primed to Break Out in 2026
• 3 Undervalued TSX Stocks That Could Surprise Investors in 2026
• 1 Canadian Stock Ready to Rocket Through 2026
• Turn Your 2026 TFSA Contribution Into $70,000 (or More!)

Fool contributor Daniel Da Costa has positions in Aritzia and Well Health Technologies. The Motley Fool has positions in and recommends Aritzia. The Motley Fool has a disclosure policy.