What is your current stance on Telus International?

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I had read in one of the newsletters a few months ago that your stance on TIXT had changed to Neutral but on the website under the Growth Bull LIst it shows Bullish. Has your stance reverted to Bullish or is it simply that this area has not been updated to reflect the change in sentiment.

Thanks in advance

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Asked on May 31, 2024 12:45 pm
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Private answer

Hi there. Telus International was removed from the bull list a while ago. We just forgot to actually remove it from the Bull List section.

I still hold the company. I will be honest, it is one of the worst performing positions in my portfolio. I did make some profits on a past position by buying on a low and selling when the company launched back up to what I felt was fair value at the time but it doesn't quite make up for what's going on now.

The company is in the midst of a significant downtrend in its sales cycle. The company offers things like customer support channels, IT services, back office support etc. With the slowing economy, there is generally lower demand for its products at this point in time.

I continue to hold. I have debated selling as it is in my taxable account and I do have some gains to offset, but I haven't done so yet.

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Posted by Dan Kent
Answered on June 2, 2024 7:43 am