On February 21, Brianne Gardner, senior wealth manager at Velocity Investment Partners, Raymond James, appeared on BNN Bloomberg to share her outlook on the shifting landscape of the Canadian and US markets for 2026. Focusing on the Canadian landscape, Gardner highlighted the importance of leaning into commodity exposure and high-quality domestic names. International diversification remains a cornerstone of her strategy to navigate global uncertainty. She noted that her team is actively adding to international holdings to balance domestic and US exposure.
This strategy is complemented by a consistent allocation to gold, which she views as a necessary hedge during times of geopolitical risk and economic dispersion. She explained that staying nimble is essential as policy changes and earnings reshape market leadership, and international diversification provides the necessary breadth to capture growth outside of the concentrated US tech trade.
That being said, we’re here with a list of the 10 best Canadian stocks to buy under $20.
Our Methodology
We used screeners to identify Canadian stocks that are trading below $20 per share, and limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. These stocks are also popular among analysts and elite hedge funds.
Note: All data was sourced on February 25.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
10 Best Canadian Stocks to Buy Under $20
10. Canada Goose Holdings Inc. (NYSE:GOOS)
Canada Goose Holdings Inc. (NYSE:GOOS) is one of the best Canadian stocks to buy under $20. On February 5, Canada Goose reported a 13% year-over-year revenue increase to $695 million for FQ3 2026, which was driven by a 13% rise in D2C sales and a 14% gain in wholesale. Geographic performance was supported by a 20% revenue jump in North America and a 12% increase in the Asia Pacific region, particularly in mainland China.
The company’s expanded year-round product assortment, featuring lighter-weight fabrics and non-parka styles, contributed to doubling the revenue from new product offerings compared to the previous year. Despite the top-line growth, adjusted EBIT fell to $204 million with a margin of 29.3%, representing a 450-basis point contraction from the prior year. This decline was influenced by a 40-basis-point drop in gross margin due to a shift in product mix and a $66 million increase in SG&A expenses.
Management highlighted four consecutive quarters of positive D2C comparable sales growth and expressed confidence in long-term brand relevance following strategic marketing investments. Looking ahead, Canada Goose Holdings Inc. (NYSE:GOOS) aims to improve store and marketing efficiencies to drive margin expansion.
Canada Goose Holdings Inc. (NYSE: GOOS), together with its subsidiaries, designs, manufactures, and sells performance luxury outerwear, apparel, footwear, and accessories for men, women, youth, children, and babies. It operates through three segments: Direct-to-Consumer, Wholesale, and Other.
9. Lightspeed Commerce Inc. (NYSE:LSPD)
Lightspeed Commerce Inc. (NYSE:LSPD) is one of the best Canadian stocks to buy under $20. On February 5, Lightspeed Commerce reported FQ3 2026 revenue of $312.3 million, which marked an 11% increase year-over-year. Adjusted EBITDA rose 22% to $20.2 million, and the company achieved its second consecutive quarter of positive free cash flow at $15 million. Growth was largely driven by North American retail and European hospitality sectors, which saw a combined revenue increase of 21%, while the company added 2,600 net new customer locations during the quarter.
Financial margins showed broad improvement, with total gross margin rising to 43% from 41% the previous year. Software gross margin reached 82% due to cloud spend optimization and AI-driven support efficiencies, while transaction-based gross margin climbed to 31%. However, software revenue growth remained moderate at 6% as the company lapped prior pricing actions, and hardware margins declined due to strategic discounting aimed at acquiring new business.
The company is heavily integrating AI to differentiate its retail and hospitality workflows, focusing on inventory optimization and customer experience to drive upsells. Payment penetration reached 46%, up from 42% last year. To sustain this momentum, Lightspeed Commerce Inc. (NYSE:LSPD) hired 150 new sales representatives to accelerate location growth and outbound sales performance.
Lightspeed Commerce Inc. (NYSE:LSPD) sells cloud-based software subscriptions and payments solutions for single and multi-location retailers, restaurants, golf course operators, and other businesses.
