3 Stocks on the NYSE to Buy and Hold

Johnson & Johnson. Canopy Growth. And Shopify. Here are 3 stocks on the NYSE that you can buy and hold. 

Background

The stock market has always done reasonably well for the long-term investor. No matter the number and scale of intermittent market contractions, it always seems to be unwavering in its upward climb. Despite the lingering trade war, leading to drops in key market indices in recent days, the stock market has still returned over 10% YTD.

Hence, investing for the long term is always recommended as the best type of investing. When you invest for the long term, short-term dips can do only little to nothing to throw you off your feet. However, to invest for the long term, you will need a special kind of strategy.

For example, you might have to look beyond the short-term negative financial postings of companies to focus on their potential for the long term. Based on this, here are three stocks that you can buy and hold. 

Johnson & Johnson (NYSE: JNJ)

Established in 1886, Johnson & Johnson is a healthcare conglomerate with global operations.  The company has multiple business segments including consumer health products, medical devices, and pharmaceuticals. 

©TradingView. August 8, 2019.

Thanks to its consistent performance, Johnson & Johnson has been a popular choice for long-term investors. The company has consistently increased its dividend payout consecutively for 57 years and at its current market capitalisation of approximately $345 billion, it is the largest independent biotechnology company in the world.

Canopy Growth (NYSE: CGC)

The legalisation of the cannabis space in Canada has set a favourable environment for the emergence of winning stocks. However, the savvy buy-and-hold investor must know the right place to look. 

As a result of its association with Constellation Brands, Canopy Growth (NYSE: CGC) appears well poised to benefit best from the tremendous organic growth that the industry would enjoy in the coming years. The chances of this would be further enhanced if the United States also legalises the presently highly controlled substance. 

©TradingView. August 8, 2019.

As of August 8, Canopy Growth (NYSE: CGC) has a market capitalisation of approximately $11 billion.

Shopify (NYSE: SHOP)

Shopify is an Ottawa-based e-commerce company providing a wide range of solutions including marketing, payment, customer engagement, and shipping for small e-commerce entrepreneurs. In recent times, the company has been giving its largest competitors a  great run for their bucks. One of those is Amazon. 

Considering the diverse needs — from web design to inventory management — it satisfies, the prospect for Shopify is a bright one. Presently, the company has about a million users, with strong growth potential for the future. Hence, in the long run, it could turn out to be the potential successor for Amazon that the e-commerce ecosystem has been expecting to see.

©TradingView. August 8, 2019.

Despite not posting an official annual profit yet, Shopify’s stock, in the past three years, has significantly appreciated in value. The company currently has a market capitalisation of approximately $37 billion. The 52-week share price range is $117.64 to $350.79.

About Travis Garlick 1422 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.