Have you ever wished you had bought into a stock before it skyrocketed? Think of growth stocks like Amazon, Shopify, or Tesla in their early days. These names helped even small investments grow into fortunes for investors with patience and long-term vision.

While no one can go back in time, the great news is that similar opportunities still exist in the Canadian stock market. With the right growth picks, you could expect to receive outstanding returns on investments in the long term, especially if you invest in fast-growing companies with solid fundamentals and strong growth potential. In this article, I'll highlight two promising Canadian stocks that I believe have the potential to turn a $10,000 investment into $100,000 by 2030.

Aritzia stock

Aritzia (TSX:ATZ) is a Vancouver-headquartered vertically integrated design house that started its journey as a TSX-listed company nearly eight years ago in October 2016, with its initial public offering priced at $16 per share. Today, it has a market cap of $5.7 billion as its stock trades at $50.43 per share with 83.4% year-to-date gains.

Despite facing global pandemic-driven operational challenges, including supply chain disruptions and high inflation over the last few years, Aritzia has emerged as one of the most resilient retail stocks in Canada. In the five years ended in February 2024, the company's total revenue jumped by 167% from $874.3 million to $2.3 billion. This impressive growth, even amid economic uncertainty, highlights Aritzia's ability to adapt and thrive in a competitive retail environment.

One main factor that has contributed positively to its financial growth in recent years and boosted its long-term growth outlook is its consistently strengthening performance in the U.S. market. In the second quarter (ended in August 2024) of its fiscal year 2025 alone, Aritzia saw its U.S. sales grow by an impressive 24% year over year, reaching $345.4 million and accounting for over 56% of its total revenue.

Moreover, consistently growing demand for Aritzia's products in the U.S., coupled with its strategic expansion of boutiques and an improved e-commerce platform, could significantly accelerate its financial growth trends in the coming years, which should help its stock stage a strong rally.

Magna International stock

Another growth-oriented stock worth considering right now is Magna International (TSX:MG). MG stock has underperformed the broader market by a wide margin as it currently trades with 17% year-to-date losses against the TSX Composite's 22% gains. However, these losses could be a buying opportunity for long-term investors who want to benefit from Magna's strong position in the rapidly evolving automotive sector.

MG stock's poor performance in 2024 could mainly be attributed to recent weakness in global automotive production and inflationary pressures that have affected the broader industry. However, these short-term headwinds are unlikely to have a major impact on its long-term growth outlook.

Whether it's through its innovative solutions for electric vehicles (EVs) or its commitment to revolutionizing autonomous driving, Magna's portfolio is built to benefit from many fast-emerging trends in the automotive industry. Besides being one of the world's largest automotive parts suppliers, it also provides EV platform, battery enclosures, and advanced driver-assistance systems. Given these strengths, I wouldn't be surprised if Magna stock multiplies its value over the next several years as the global transition to EVs and autonomous vehicles accelerates further.