Image Source: Kalkine Group @2021
Remember the COVID-19 outbreak-led stock market crash in March 2020? Almost every sector slumped to their lowest. But there were a few stocks that defied coronavirus and registered extraordinary price performances. While presenting the federal budget next week, Finance Minister Chrystia Freeland may keep in mind these COVID-related enterprises, many of which are related to essential services segment.
Here are eight COVID stocks to explore this week:
1. WELL Health Technologies Corp. (TSX: WELL)
The company engages in direct-to-consumer digital operation for COVID-19 antibody test retail and support across Ontario region. Its current share price is C$ 7.71, which has zoomed by over 367 per cent against its 52-week low of C$ 1.65 apiece (Recorded on April 16, 2020).
It is up almost 362 per cent in one year, outperforming the TSX Composite Index, which has gained 238 per cent relatively.
The health-tech firm generates majority of revenue from its healthcare-related Software-as-a-Service (SaaS) products.
2. Therma Bright Inc. (TSXV: THRM)
The medical equipment provider develops CoviSafe™ rapid test, which helps detect Covid virus in saliva. Its current stock price stands at C$0.40, which is up 3,900 per cent compared with its 52-week low of C$ 0.0100 (Registered on April 30, 2020).
It has grown 2,567 per cent in one year and surpassed the benchmark Canadian index too. It has delivered 86 per cent return this year.
The company is actively researching and developing COVID-19 test kits for new variants.
3. Dollarama Inc (TSX: DOL)
One of the largest grocers was operational even amid lockdowns since March 2020. The current share price is C$ 56.59, reflecting a rebound by 41.87 per cent from its 52-week low of C$ 39.89 per common share (Dated April 13, 2020).
Dollarama plans to increase its long-term store target to 2,000 locations across Canada in the next 10 years. The large-cap company’s stock has returned more than 36 per cent in one year, led by its annual sales growth.
4. Empire Company Limited (TSX: EMP.A)
The food retailer operates across Canada through its subsidiary Sobeys. Its last close price was C$ 40.25 per share, which is up 39.23 per cent compared to a 52-week low of C$ 28.91 per stock (Noted on April 14, 2020).
Empire stock has beaten the S&P TSX Food Retail (Sub Industry) Index, with a one-year return of 35.52 per cent.
The company also engages in drug distributions via its brand Lawton’s drug stores. In the first quarter of fiscal 2021, its e-commerce sales grew by 315 per cent.
5. Lightspeed POS Inc. (TSX: LSPD)
The SaaS-based solutions provider operates in the two primary segments – online payments and consumer engagement. The fintech firm has a current stock price of C$ 91.96, up almost 454 per cent versus its 52-week low of C$ 16.61 per cent (Noted on April 13, 2020).
It has delivered 16.36 per cent growth month-to-date (MTD), just after renewed lockdown announcement. Its one-year growth stands at approximately 398 per cent.
The top line soared 79 per cent in the third quarter of 2021, guided by its digital payment services.
6. Nuvei Corporation (TSX: NVEI)
Since its listing in September 2020, the fintech stock has grown more than double, led by its e-commerce volume and 50 per cent rise in revenue for 2020.
The stock has started as a mid-cap company, now the stock has been rewarded with the large-cap status on the back of massive price performance. It is up 13.84 per cent MTD, surpassing the S&P TSX IT Services (Industry) Index, which is down by 3.78 per cent relatively.
7. Cargojet Inc. (TSX: CJT)
This freight airline was one of the hot bets on the Toronto Stock Exchange because of its services for e-commerce companies to healthcare shipments amid the COVID-19 outbreak in 2020.
It has a current stock price of C$ 176.13, which increased as much as 55.87 per cent against its 52-week low of C$ 113 (Noted on April 13, 2020).
The cargo stock has yielded 51.51 in one year, surpassing the S&P TSX Transportation (Industry Group) Index, which is up 5.41 per cent comparatively.
8. TFI International Inc. (TSX: TFII)
The logistic company stock has almost tripled to C$ 93.02 per share against its 52-week of C$ 31.35 apiece (Noted on April 16, 2020). The stock has overtaken the S&P TSX Trucking Index in the past one year, with a yearly growth of 180.18 per cent.
The company posted positive sequential revenue for the fourth quarter of 2020, and its earnings per share also improved to C$1.18 against C$0.92 in Q4 2019, guided by continuing operations through lockdowns.