Any specific reason for the constant drop in Fortis

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Hi,
I have been monitoring to add FTS in my portfolio and I see it continuously dropping.
Any specific reason?
Hope the present levels are good to add more, as in past I bought @53 but would wait to have your views before I add more.

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Asked on February 22, 2021 9:18 am
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Private answer

People are selling out of boring, defensive style stocks to take advantage of this high growth market.

It isn't just Fortis. It's all consumer defensive stocks in general. Loblaws, Emera, Canadian Utilities, Fortis, Metro, Dollarama.

This is a stock you buy to reduce overall volatility and provide strong income. This is arguably one of the least volatile stocks in North America.

Good time to accumulate!

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Posted by Dan Kent
Answered on February 22, 2021 9:38 am