After last week’s highly volatile trade action, the TSX Index closed down 1.3%. Given the volatile nature of the markets currently, it is not surprising to see many stocks enter oversold territory. From a technical perspective, a stock is considered oversold when its 14-day relative strength index (RSI) dips below 30. When this happens, there is an opportunity for a short-term bounce.Taking that into account, here are three stocks that closed the week in oversold territory and could be due … [Read more...] about Look for these 3 stocks to rebound this week
Well that was disappointing. On Wednesday, the cannabis industry leader - Canopy Growth Corp (TSX:WEED) - posted results that shocked the markets. Not in a good way.The company posted a hefty net loss of $3.70 per share, far more than the $0.41 loss that the market was expecting. Likewise, first quarter revenue of $90.5 million missed by 19% or $21.27 million. Ouch.Despite a 249% jump in revenue year over year, there are already signs of slowing growth. First quarter revenue dropped by … [Read more...] about Is Canopy Growth Corp (TSX:WEED) Still a High-Growth Stock?
We all want to see our portfolios head in a straight line. A straight line up of course. Unfortunately, that's not the way it works, and it's not the way it will ever work.The DOW has suffered two of its biggest single day losses of the year this week, and it has had a large effect on Canadian markets. During times of volatility, it helps to have defensive stocks in your portfolio. Here are two of them you should be looking to add today.Andrew Peller (ADW.A)Andrew Peller (TSX:ADW.A) … [Read more...] about Two Defensive Stocks For Your Portfolio During Harsh Volatility
It was a strong second quarter for Pinnacle Renewables (TSX:PL) as the company reported second quarter earnings after the bell yesterday. The company is currently trading up 6% as of writing. So why the jump? Lets dig in.Most analysts predicted the company would post earnings per share of $0.01 this quarter, but Pinnacle surprised both analysts and investors with earnings of $0.06 per share. Revenue also came in 4% higher than expected at $104.2 million.The company is seeing excellent … [Read more...] about This Renewable Energy Stock Spiked After Solid Q2 Earnings, Should You Buy?
It has been a great couple of days for Inter Pipeline (TSX:IPL) shareholders. On Thursday, the company’s stock price jumped almost 9% on rumors that it received a cash takeover bid worth up to $12.4 billion, or $30 per share.The good news didn’t stop there. After the markets closed, Inter Pipeline announced strong second quarter results. The company posted record second-quarter income of $260 million, more than double analysts estimates for net income of $114 million.Earnings of $0.63 … [Read more...] about Inter Pipeline (TSX:IPL) Spikes on Takeover Rumours – Posts Record Earnings
The alternative lending industry is picking up in Canada in a big way. As major financial institutions are forced to lend with extreme regulatory limitations like the mortgage stress test, alternative lenders don't have to follow these restrictions, allowing them more leniency on who they wish to lend to.According to CBC, there were 200 to 300 active alternative lenders in Canada last year holding $13 billion to $14 billion of outstanding Canadian mortgages. That's up from $11 billion to $12 … [Read more...] about Goeasy Ltd (TSX:GSY) Posts Strong Q2 Results
A good way to gage management sentiment is to analyse insider trading activity. Are insiders buying up shares or are they dumping them and subsequently reducing their positions.Although insiders can sell for a wide-variety of reasons, consistent selling could be a bearish indicator. This is especially true if the sells outweigh the number of buys. The other important aspect to remember is that not all insider trading should be treated equal. Part of the problem with several … [Read more...] about Warning: Insider Selling Could Spell Trouble For These Stocks
It hasn’t been a good month for CannTrust (TSX:TRST) shareholders. In early July, the company was caught illegally growing cannabis. Unfortunately, the news just got worse.On Thursday evening, it was announced that the Ontario Securities Commission (OSC) has opened an investigation into the company. The investigation will be in partnership with the RCMP’s Financial Crime Program and the OPP’s Anti-Rackets Branch.This has gone beyond mis-management of production. As new information has … [Read more...] about Stick a Fork in it, CannTrust (TSX:TRST) is Dead Money
Canada’s oil & gas industry has been decimated in recent months. Reminiscent of last year’s dip, the industry is mired in a significant downtrend. Over the past year, the TSX Oil & Gas Index is down 25%! Caught in the cross-hairs, Vermillion Energy (TSX:VET) is down 21% in 2019 and its value has almost been halved in the past year. At this time last year, the company was trading at $44.78 per share. Today it is touching 52-week lows around $23 per … [Read more...] about Is Vermillion Energy’s (TSX:VET) Dividend at Risk?
Whenever Canadian investors talk about the telecom industry, there are three names that often come to mindTelus (TSX:T) Rogers (TSX:RCI.B) Bell (TSX:BCE)It makes sense considering the industry has ridiculously high barriers to entry. These three major telecom companies are protected by a highly regulated, somewhat monopoly like structure. No company has penetrated the barriers yet, and as such Canada has some of the highest wireless prices in the developed world.However, … [Read more...] about Tired Of The Big 3? Buy These Telecom Companies Instead