Image source: Getty Images. It’s easy to identify and invest in the most consistent and steady growth stocks, but they make up a relatively small portion of the overall pool of securities that you can buy for decent capital appreciation. Going for a mix of both consistent growth stocks and the ones that may offer explosive growth in the right market circumstances would be the smart thing to do. An industrial growth stock 2022 was a great year for energy stocks and whether it will remain the case in 2023 is hard to predict right now. But there is one industrial-leaning energy stock that has the potential to keep moving upwards, even when the sector is down, that you should consider buying. TerraVest Industries (TSX:TVK) has been consistently growing since 2012, and considering its modest valuation and healthy business model, this pattern may continue in the foreseeable future. And its growth pace can be considered explosive, especially among the consistent growth stocks that usually develop a more reasonable pace after so many years of growth. Even in the last five years, in which the pandemic reshaped the trajectory for almost the entire TSX, TerraVest maintained strong upward momentum and returned almost 200% to its investors via price appreciation alone. A cargo growth stock Cargojet (TSX:CJT) was one of the most powerful growth stocks of the last decade, but it has been “off track” since 2020. After a 52% fall from the post-pandemic peak, the stock is now trading below its pre-2020 crash valuation. This brutal correction is also reflected in the valuation — i.e., its price-to-earnings ratio of about 7.1 — and it’s one of the reasons why I have hope for its explosive growth potential in 2023. The other reason would be its position as the premier overnight cargo airline operating in Canada, which has been expanding its operational reach at a powerful pace for some time now. And even though Air Canada is emerging as a possible competitor, the airline’s financials are no match for Cargojet’s. Assuming the stock picks up its former pace, investors may expect explosive growth from this holding in the coming years. A newcomer growth stock Even though it has been around since June 2020, First Hydrogen (TSXV:FHYD) can still be considered a newcomer when compared to the other two stocks. The first few months of the stock’s performance were quite slow, but it picked up pace in March 2021, and since then, it has grown over 1,400% by now. That’s in stark contrast to both the TSX at large and companies similar to First Hydrogen in the business model — zero-emission vehicles — as most other companies operating in the same domain have suffered quite a decline in that time. However, if the company can keep up its current pace for even a couple of more years, it would be transformational for your portfolio. It’s also a good pick if you are into ESG (environmental, social, and governance) investing. Foolish takeaway The three growth stocks, assuming they deliver on their potential, can help you realize amazing gains not just in 2023 but in the years beyond. TerraVest and Cargojet have a precedent of long-term bullish runs, and First Hydrogen (as a green company) may experience adequate organic growth in the future to sustain the stock’s growth.
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