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With February 2 comes yet another Groundhog Day, and according to folklore, it’s time to rely on the little critter for a weather report. Nova Scotia's celebrity groundhog, Shubenacadie Sam, reportedly emerged from his burrow this morning and “failed” to spot his own shadow. So as per the legend, Canadians can expect spring to arrive soon.
Had the animal spotted his own shadow and run back into his hole, folklore would dictate that winter is set to last longer.
So with Groundhog Day and hopes of a soon-arriving springtime in mind, let’s dive in to check out three Toronto Stock Exchange-listed stocks that have been performing well.
Shopify Inc (TSX:SHOP)
One of the few stocks that escaped the dreary shadow of COVID-19 has been Canadian e-commerce giant Shopify Inc. The stock ballooned roughly 170 per cent in 2020 and nearly 22 per cent in the last three months.
Since debuting on the TSX platform in 2015, Shopify stocks have rocketed by over 4114 per cent in the last near-six years.
Shopify’s sales numbers grew as physical stores faced shutdown amid the COVID-19 pandemic. During last year’s Black Friday-Cyber Monday weekend, which is known for spiking shopping trend, Shopify’s sales figures jumped 76 per cent year-over-year (YoY) to C$ 5.1 billion.
©Kalkine Group 2021
Canadian Tire (TSX:CTC.A)
Stocks of retail giant Canadian Tire have grown steadily through the pandemic crisis last year. Since dipping to a low of C$ 73.14 (March 23) amid the COVID-triggered market collapse, Canadian Tire scripts have shot up by over 134 per cent in the last 10 months.
Canadian Tire’s stock price hit a record level of C$ 180.9 last month (January 14), a high point the enterprise has not seen in years. Its scripts expanded by nearly 39 per cent in the last six months and by about 16 per cent in the last three months.
At the time of writing, Canadian Tire posted a return on equity (ROE) of 14.14 per cent and a return on assets (ROA) of 2.9 per cent.
Lightspeed POS (TSX:LSPD)
Homegrown tech firm Lightspeed POS took quite a hit during the March market crash last year, plunging to an all-time low share value of C$ 12 (March 18). But the tech stock went on to rebound noticeably over the course of 2020, growing by a whopping 141 per cent in the last six months and by about 120 per cent in the last three months.
On the financial front, Lightspeed POS recorded a revenue growth of 62 per cent YoY to US$ 45.5 million in its second quarter of fiscal 2021, which ended on 20 September 2020. The omnichannel solutions provider’s recurring software and payments revenue expanded by 62 per cent YoY to US$ 41.1 million in Q2 FY2021.
Lightspeed is set to release the financial results of its third quarter for fiscal 2021 this Thursday, on February 4. The quarter, spanning from October to December 2020, will include the figures of the major shopping weekend of Black Friday, so the sales numbers are expected to be significant.
