These 2 Canadian Stocks Have the Most Explosive Potential

In this article, we will discuss the 2 Canadian Stocks Have the Most Explosive Potential.

When building a strong investment portfolio, I like to strike a balance between reliable dividend-paying stocks and high-growth opportunities. While dividends help create steady income, I also make room for select high-conviction growth stocks—companies that may not pay out today but have the potential to deliver exceptional returns in the future.

Among the stocks I currently own, two stand out for their massive upside potential. Here’s a closer look at these Canadian growth plays and why I believe they could deliver explosive gains in the years ahead.

BlackBerry (TSX:BB): A Comeback Fueled by Innovation

Once known for its smartphones, BlackBerry has transformed itself into a cutting-edge software and cybersecurity firm. Today, the company focuses on three main areas: its QNX operating system (used in smart vehicles), secure communications, and technology licensing.

In the last six months, BlackBerry shares have surged over 60%, currently trading at $5.35 with a market cap of $3.2 billion. While it doesn’t offer a dividend, BlackBerry is all about long-term capital appreciation.

The company reported revenue of US$141.7 million for the quarter ending February 2025, with adjusted EBITDA reaching US$21.1 million—translating into a strong 15% EBITDA margin and beating expectations. Performance was robust across all business segments, and disciplined cost control further boosted results.

BlackBerry also recently sold its Cylance cybersecurity division, improving its financial position and cash flow. Even so, the company continues leveraging Cylance’s technology through resales and AI integration. Partnerships with major players like AMD, Microsoft, and Intel are further enhancing its QNX platform and AI capabilities.

With a cleaner balance sheet, an AI-driven strategy, and growing momentum in smart vehicle and security tech, BlackBerry could be gearing up for a significant comeback.

Celestica (TSX:CLS): A Quiet Giant in Hyper-Growth Mode

Celestica may not be a household name, but its performance speaks volumes. The company designs high-performance hardware platforms and provides supply chain services to clients in aerospace, industrials, and cloud infrastructure.

Over the past three years, Celestica stock has exploded more than 1,750%, including a remarkable 122% surge in the past year alone. It now trades at $164.09 with a market valuation of $19 billion.

Celestica’s rise isn’t just hype—it’s backed by strong fundamentals. In Q1 2025, the company posted revenue of US$2.65 billion, a 20% year-over-year increase that exceeded its guidance. Adjusted earnings per share came in at $1.20, up 39.5% from the previous year, driven by better margins and growing demand for cloud and enterprise solutions.

The company has also raised its full-year guidance, reflecting optimism around sustained growth. With AI, hyperscale computing, and strategic partnerships acting as powerful tailwinds, Celestica is well positioned to continue its impressive trajectory.

Bottom Line

Both BlackBerry and Celestica are riding transformative trends in AI, cybersecurity, and cloud technology. While they’re very different businesses, each has a clear path to further growth. If you’re looking for high-upside stocks in Canada with the potential to deliver outsized returns, these two are worth serious consideration.