Canadians are starting to see a light out of the pandemic. Consequently, cyclical stocks like Air Canada (TSX:AC) are once again gaining steam on the TSX. I don’t know about you, but there is a spring-like optimism in the market again. Certainly dropping COVID-19 cases and the acceleration of vaccine deployments is having a positive effect on airline, hospitality, restaurant, and retail stocks.
Air Canada stock is taking off, but is it a buy? Since February, Air Canada stock has had a nice 43% run up. In fact, it is hitting near 52-week highs. However, it still trades 42% below its high set in November 2019. Many may be wondering if now is the time to get back into the stock. Perhaps it is, but I am choosing to stay on the sidelines. Unfortunately, the pandemic has seriously damaged Air Canada financially and operationally.
Firstly, numerous travel rules and restrictions still disable Air Canada from operating even at a fraction of pre-COVID-19 capacity. Given the rate of vaccine dep..
Nuvei’s (TSX:NVEI) tenure as a public company has been excellent. Barely a year after going public, the stock has nearly doubled in value after a 90% rally in 2020. While the stock has pulled lower from all-time highs, the pullback could create an opportunity for long-term investors.
Here’s a closer look at why Nuvei’s growth story remains intact and why the stock could potentially be worth 10-fold more than it is today.
Robust growth As was the case in 2020, the payment-processing company is well positioned for an impressive 2021, as online and offline shopping-related services continue to grow. With digital payments becoming the new norm, the company is likely to generate significant revenues and bounce back to profitability.
In the fourth quarter, the company posted a 46% year-over-year increase in revenues that totaled $115.9 million, marking the strongest growth period in the company’s history. Full-year revenue was up 53% to record highs of $245.8 million.
An expanding cust..
Working and studying from home is the new norm. Even after the pandemic, many office workers and students are expected to continue telecommuting. This means institutions will need to adopt new technologies to offer the same infrastructure and support offices once did.
One such critical piece of infrastructure is training. Introducing new skills to a remote workforce is a challenge for even the most resourceful company. Docebo (TSX:DCBO)(NASDAQ:DCBO) offers a software solution that can plug the gap. The stock remains well positioned for tremendous growth.
Despite its promise, Docebo stock has declined along with the rest of the tech sector. It’s down 27% year to date. Here’s why this dip could create an excellent buying opportunity for long-term tech investors.
Improving financials The company has made a name for itself on providing SAAS learning platforms; it’s used to train external workforce partners and customers. The company’s offerings are already resonating well with an ever..
Litecoin has had a brutal “bull market” if you can even call it that for the once popular cryptocurrency built on Bitcoin’s code. However, that all might soon turn around, as a massive bounce is brewing on the LTCBTC trading pair.
A reversal on the trading pair could help Litecoin catch up to the rest of the market, which has already set new all-time highs and then some. If and when LTC recovers against BTC, the upside could be swift and violent. Here’s why.
How Long It’s Been Lights Out For This Altcoin’s Bull Market Comparing Litecoin’s chart next to the likes of Dogecoin, Ethereum, Bitcoin, Binance Coin, and several others, shows just how dark the depths of the crypto winter got for the altcoin.
Litecoin was an incredible performer at the height of the last bull market, rising to beyond $360 per LTC in a flash.
The altcoin also led the charge in the 2019 crypto market recovery, fueled by buzz surrounding the protocol’s block reward halving.
Related Reading | Why Litecoin Is The Next Crypto To “Teleport” Like Dogecoin
Litecoin’s code is very similar to Bitcoin’s, giving it several key similarities that should be benefiting the “digital silver” counterpart currently, such as hard-coded scarcity.
Only 84 million LTC exist, a mere four times the amount of the BTC supply. And if scarcity is driving the demand behind Bitcoin, the fact that Litecoin isn’t at all following is confusing.
But a bounce is due, according to one crypto analyst‘s interpretation of the LTCBTC price chart.
A hidden dull div on the OBV could trigger a breakout of the falling wedge | Source: LTCBTC on TradingView.com Smart Money Signals That Litecoin Is Ready To Bounce Against Bitcoin The trader who shared the above chart says that LTCBTC is currently at long-term support of a falling wedge, coinciding with a bullish divergence on the on-balance volume indicator (OBV).
The OBV is often regarded as the “smart money indicator” – named as such for its ability to pick up signals of movement..
“When the going gets tough, the tough get going.” The famous American-English proverb seems applicable to companies navigating the ongoing global pandemic. You wouldn’t want to invest in mediocre assets that would wither under harsh market conditions.
Current shareholders of Royal Bank of Canada (TSX:RY)(NYSE:RY) are sticking to Canada’s largest bank, because the institution is a tough nut to crack. The $160.39 billion bank has been around since 1864 and has seen the best and worst of times. Yet in the aftermath of every downturn or recession, RBC stands tall.
The banking giant’s resiliency is on full display again in 2021. Despite the COVID-19’s impact and massive industry headwinds, the blue-chip stock is up by an impressive 9% year to date. It could be your time to buy, because the rally is just starting.
Solid earnings results In fiscal 2020 (year ended October 31, 2020), RBC’s total revenue increased 3% to $47.1 billion versus fiscal 2019. The bank’s net income slid 11% to $11…
TSX stocks at large have started to look overvalued after their stupendous rally since last year. However, there are few undervalued Canadian names that suggest strong growth potential for the future. Here are three TSX stocks among them.
BRP BRP (TSX:DOO)(NASDAQ:DOOO), the leading Powersports vehicle maker, saw remarkable growth in the last few months. Hopes of normalcy and the management’s upbeat outlook in November drove the stock consistently higher. Since November last year, BRP stock has soared almost 60%, beating TSX stocks at large.
The company will release its next quarterly earnings on March 25. Notably, better-than-expected performance could continue to push the stock further higher. It expects 31-37% earnings growth in 2021 year over year. Although BRP stock is trading at its all-time high, the stock is still fairly valued and indicates more upside.
Industries like travel and leisure are expected to see superior growth in the post-pandemic world. Thus, BRP comes in focus..
The contribution room for Tax-Free Savings Accounts (TFSA) was raised by another $6,000 this year, bringing the total to $75,500. Investors can use this opportunity to find or increase their stake in several strong companies. But if you’re looking for good buys that will last you decades, you want to go essential. That means looking at necessary companies that will continue to be around decades from now, and with dividends to reinvest along the way.
Enbridge While it might be nice to think that green energy will soon take over the world, it’s going to take a long time. True, in the next decade, about $10 trillion will be invested globally into green energy projects. That’s certainly a lot of investment, and a lot of opportunities on the stock market.
However, if you want safe and stable stocks that will continue to increase, the oil and gas sector is your best bet. These stocks are on the rebound as the pandemic comes to an end, the oil and gas glut decreases, and trading can resume…
Air Canada (TSX:AC) is becoming a roller-coaster ride for its investors through the pandemic. At writing, the stock is trading for $26.90 per share on the TSX, and it is up by almost 50% from its valuation six months ago.
Air Canada’s improvement on the stock market comes after it was decimated due to the pandemic-fueled travel restrictions. The airline had to make steep cuts in its capacity, lay off many of its employees, and the airline has been enduring a higher net cash burn rate. The growing debt for the airline led to many investors selling Air Canada stock.
The vaccination process going on worldwide and lockdown measures easing up are positive developments. Air Canada stock has started to rise again amid the hopeful developments. However, there still are short-term challenges that could continue to weigh down on the stock before it can recover.
Short-term challenges for the airline While the vaccination distribution is active, widespread inoculation will still take some time…
The cannabis space has witnessed strong buying this year with the benchmark index Horizons Marijuana Life Sciences Index ETF trading 67.6% higher for this year. With Democrats taking control of both Senate and House, investors are hopeful of pro-cannabis bills becoming laws soon. Further, the expansion of addressable markets due to increased legalization has also contributed to the strong buying.
Amid the renewed investors’ optimism, Hexo (TSX:HEXO)(NYSE:HEXO) is up 101.9% this year. Last month, it had announced an agreement to acquire Zenabis Global for $235 million in an all-stock deal, which boosted its stock price. Meanwhile, the company will post its second-quarter earnings of fiscal 2021 before the market opens on March 18. So, should you buy HEXO ahead of its earnings? Let’s first look at analysts’ expectations and the company’s growth prospects.
Second-quarter expectations HEXO had delivered an impressive first-quarter performance in December, with its top line growing by 103..
The first meme-coin was born in 2013: Dogecoin (DOGE). This cryptocurrency is kind of an homage to the known meme Doge, which origins go as back as 2005. Then, years later, Jackson Palmer, a marketer for Adobe Systems, bought the Dogecoin.com domain for fun. He started like that what it would be a digital currency with over $7b in market capitalization.
Now, we have a curious phenomenon around this cryptocurrency. Its price was boosted to new All-Time-Highs (ATHs) last February, and it wasn’t due to something inherent in the coin itself. Dogecoin’s system has its own blockchain similar to Litecoin, and this one hasn’t changed a lot in a while.
The reasons behind this sudden growth are partly fun and partly revenge. And the consequential adoption because of it.
WallStreetBets, Gamestop, and Dogecoin In case you don’t know it already, there is a subreddit dubbed “WallStreetBets” (WSB), where users worldwide meet to share experiences about the stock market. And to defy the entire financial system by joining forces to sabotage Wall Street, it seems.
Let’s check. GameStop (GME) is an American company that sells videogames and related products, physically. With the rise of online game platforms (Xbox, PlayStation, Steam, etc.) and the COVID-19 pandemic, they didn’t bear very well. They’ve been suffering millionaire financial losses and they’ve closed thousands of its stores worldwide.
That’s why, in the stock exchanges, the bigger investors (which mean investment companies) have been betting for its failure and making profits with such bets. They borrowed (and sold) GME stocks at the beginning of January, and they were expecting them to decrease by the end to make profits from it. The disappointment and alarm were large when the stocks didn’t decrease but skyrocketed out of a sudden.
From $17.25, these stocks reached $325+ per unit. That meant a 1,784%+ increase and millionaire losses for the short-selling investors. All this because of a group of Redditors from WSB..