Investment

Got $3000? These TSX Stocks Can Triple Your Investment!

Published

4 years ago

August 9, 2020

Canadian investors who have some extra cash to spend in their portfolios right now have some decisions to make. Valuations are high on the S&P/TSX Composite Index in early August. However, there are still some very attractive long-term options to consider. Today, I want to look at three TSX stocks that could triple in value in the first half of this decade. Let’s jump in.

This top TSX stock is on the rebound

Back in the spring of 2019, I’d suggested that investors should take profits in Badger Daylighting (TSX:BAD). Shares of Badger have dropped 19% year-over-year as of close on August 7. However, this TSX stock has gained some momentum in 2020. Badger provides non-destructive excavating and related services in Canada and the United States.

The company released its second quarter 2020 results on August 5. Badger’s earnings were negatively impacted by the COVID-19 pandemic, but it still looks strong heading into the second half of the current fiscal year. In the years ahead, Badger still projects the doubling of U.S. revenue from fiscal 2019 levels over the next three to five years. It is targeting adjusted EBITDA growth of 15% over this same period.

Shares of Badger last possessed a price-to-earnings ratio of 26, which puts it in solid territory relative to industry peers.

Spin Master has surged after earnings

Spin Master (TSX:TOY) is a children’s entertainment company that creates, designs, manufactures, and markets products and entertainment products to its global client base. Its shares have dropped 31% in 2020 so far. However, the TSX stock has surged 50% in the last three months. The company released its second quarter 2020 results on August 5.

Despite the effects of the COVID-19 pandemic, Spin Master exceeded expectations in Q2 2020. Still, adjusted EBITDA dropped to $21.5 million compared to $55.1 million in the prior year. In the year-to-date period, Spin Master reported revenue of $508.4 million – down 9.2% from the first six months of 2019.

The company possesses a fantastic balance sheet and has achieved strong earnings growth in recent years. Shares are trading in the middle of its 52-week range. This TSX stock has room to run as the reopening should boost its business in the second half of 2020.

One more exciting TSX stock to snag in August

Goodfood Market is an online grocery company that delivers fresh meals and grocery products across Canada. Interest in the company has erupted since the COVID-19 pandemic shook up the retail world. I’d suggested that investors should continue to stack this TSX stock in July.

The company achieved its first quarter of net income on July 8. Its business received a big boost from the pandemic, jumpstarting a shift to e-commerce grocery shopping. However, there is still significant competition from other top grocers in Canada.

Revenue at Goodfood climbed 74% year-over-year to $86.6 million. Online grocery is a fast-growing industry. Canadians who want to get in on this emerging space should consider Goodfood right now.

On the topic of growth stocks in the summer . . .

This Tiny TSX Stock Could Be the Next Shopify

One little-known Canadian IPO has doubled in value in a matter of months, and renowned Canadian stock picker Iain Butler sees a potential millionaire-maker in waiting…
Because he thinks this fast-growing company looks a lot like Shopify, a stock Iain officially recommended 3 years ago – before it skyrocketed by 1,211%!
Iain and his team just published a detailed report on this tiny TSX stock. Find out how you can access the NEXT Shopify today!

Fool contributor Ambrose O’Callaghan has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Spin Master. The Motley Fool recommends Goodfood Market.

Source: – The Motley Fool Canada

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Economy

S&P/TSX composite down more than 200 points, U.S. stock markets also fall

Published

1 week ago

September 6, 2024

Anne Joseph

TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.

The S&P/TSX composite index was down 239.24 points at 22,749.04.

In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.

The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.

The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.

The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.

This report by The Canadian Press was first published Sept. 6, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

S&P/TSX composite up more than 150 points, U.S. stock markets also higher

Published

2 weeks ago

August 29, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.

The S&P/TSX composite index was up 171.41 points at 23,298.39.

In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.

The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.

The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.

The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.

This report by The Canadian Press was first published Aug. 29, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Investment

Crypto Market Bloodbath Amid Broader Economic Concerns

Published

1 month ago

August 5, 2024

Harry Miller

The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.

The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.

Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.

The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.

Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.

Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.

Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.

Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.

The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.