Many investors fail to understand valuation when they buy a growth stock.

TOP IDEAS: Awarded the Canadian Technology Stock of the Year for 2018, Sangoma Technologies’ (TSXV: STC) shares are up 682% in value. The stock price has momentum as awareness from new investors keeps building.

TOP IDEAS: Revenues and profits are on track to rise as Destiny Media Technologies Inc. (TSXV: DSY) secures a bigger deal with Universal Music and other labels for use of Play MPE, a SaaS service for securely distributing content in the music industry.

In a down market, Sangoma Technologies Corp. (TSXV: STC), Questor Technology Inc. (TSXV: QST), Avante Logixx Inc. (TSXV: XX) and Caldwell Partners International Inc. (TSX: CWL) still generated good returns year-over-year in 2018.

Up 64% from last year, Sangoma Technologies (TSXV: STC) is a top pick again for 2019. Other stock predictions to perform next year include Novra Technologies (TSXV: NVI) and Destiny Media Technologies (TSXV: DSY).

TOP IDEAS: Integration of acquisition and expanded product portfolio are playing out for Novra Technologies Inc. (TSXV: NVI) as revenues and profits show robust growth. The stock price is undervalued.

TOP IDEAS: Latest acquisition makes Quorum Information Technologies Inc. (TSXV: QIS) twice as big, with more SaaS solutions to serve the auto dealership market in North America. The stock is up 215% since first recommended.

NEW COVERAGE – TOP IDEAS: New revenues from Destiny Media Technologies Inc.'s (TSXV: DSY) latest version of Play MPE, a SaaS service for securely distributing content in the music industry could provide big returns for small cap investors.

Once again the media hype machine for growth stocks causes financial pain for small cap retail investors.

TOP IDEAS: Avante Logixx Inc. (TSXV: XX) is cashed up and ready to make a bigger splash with more acquisitions. Year-to-date the stock price is up 44%.