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The demand for essential goods, software solutions surged unprecedently last year. Cannabis industry also witnessed new highs. This trend has continued in 2021 too. Amid lockdowns and stay-at-home situations and those periods of limited freedom, the importance of the above industries cannot be ignored.
Here are three stocks that have defied the COVID-19 and still marching north:
Nuvei Corporation (TSX:NVEI)
The software firm provides cloud-based payment solutions to multiple industries and recently entered the cryptocurrency market. The stock has a current price of 77.31 and a market cap of C$ 3.55 billion.
The stock has entered the bullish trend, with over 13 per cent rise month-to-date (MTD).
At the last closing price of C$ 75.70, the stock is 6.41 per cent above its 60-day simple moving average (SMA), according to EODHD/Others data. It could cross its all-time high of 90.82 per common share in April.
The payment firm posted good financials for 2020, following a 53 per cent year-over-year (YoY) rise in its top line.
Aphria Inc. (TSX:APHA)
The Ontario-based pot company has accelerated its growth journey this year, with a successful merger with Tilray (TLRY:US or NASDAQ: TLRY). Its current share price is C$ 23.69.
The pot stock has a one-year growth of over 438 per cent, outperforming the S&P/TSX Composite Index, which is up 285 per cent relatively.
At the previous close of C$ 23.09, the marijuana stock was trading over 11 per cent above the 60-day SMA, a bullish indicator.
It has started rising again on the back of robust pot sales and optimistic legalization sentiments across North America.
Aphria’s net revenue rose 33 per cent YoY to C$ 160.5 million in Q2 FY21, guided by the recreational cannabis demand.
Image Source: Kalkine Group @2020
Metro Inc. (TSX:MRU)
The essential goods retailer stock has been trading steadily in the range of C$52 to C$66 in the last 52-weeks. Its current stock price is C$ 57.32.
The consumer defensive stock has garnered more than 8 per cent MTD. It offers a quarterly dividend of C$ 0.25 per share at a dividend yield of 1.744 per cent.
At the last close of C$ 57.33, it was trading nearly 3 per cent above its 60-day SMA, which indicates a bullish trend.
Amid the upcoming lockdown in Ontario, the third-largest grocery distributor of Canada could extend its bull-run in April.
