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Summary
- The Toronto Stock Exchange saw some of its most powerful stocks crumble during the market crash around March and April.
- Some stocks, however, ballooned in the wake of the pandemic as the companies recorded a spike in their demand.
- Stocks of CIBC, Shopify, Docebo, Aphria, Cargojet, etc. have posted notable YTD growth amid the pandemic.
It is no secret that the outbreak of the novel coronavirus this year left stock markets around the world decimated. Canada’s Toronto Stock Exchange (TSX) saw some of its most powerful stocks crumble during the market crash around March and April, and a few of these are yet to recover from their losses.
At the same time, though, some stocks ballooned in the wake of the pandemic as the companies recorded a spike in their demand. Despite the operational and production disruptions due to the lockdown restrictions, these companies saw their businesses inflate and, in turn, their stocks secured high trading activities.
Let’s take note of some of these TSX stocks:
©Kalkine Group Image
FINANCIAL STOCKS
Canadian Imperial Bank of Commerce (TSX: CM)
Canadian Imperial Bank of Canada, aka CIBC, is ranked high among the top performing financial stocks on the TSX, with a 10-day average trading volume of 3.19 million.
Since shriveling to its lowest point of this year during the market meltdown in March, CIBC stocks catapulted by about 1,450 per cent in the following nine months. The shares also rebounded to their pre-pandemic levels from February, climbing almost four per cent year-to-date (YTD).
CIBC is set to pay a quarterly dividend of C$ 1.46 on 28 January next year. The dividend yield currently stands at 5.215 per cent, as per the data on the TMX portal.
AVIATION & LOGISTICS STOCKS
Cargojet Inc (TSX:CJT)
Dubbed as the top freight carrier in Canada, Cargojet Inc saw its business skyrocket this year as online orders took amid lockdown. Amazon Inc (NASDAQ: AMZN, AMZN:US) had acquired a 9.9 per cent stake in Cargojet last year, which worked in the latter’s favor as the spike in Amazon’s business mirrored for it.
The cargo carrier’s total revenues climbed from C$ 117.4 million in Q3 2019 to C$ 162.3 million in the latest quarter of Q3 2020.
Cargojet stocks have surged about 106 per cent this year and almost 36 per cent in the last six months. The shares are currently priced at C$ 213.86.
E-COMMERCE STOCKS
Shopify Inc (TSX: SHOP)
Like Amazon, Shopify’s business almost bloomed since the onset of the pandemic as people switched to online shopping from the safe confines of their homes. The e-commerce giant recorded a 96 per cent year-over-year (YoY) growth in its third quarter revenue of US$ 767.4 million.
Apart from the gains in its latest quarter, Shopify also saw its stocks swell about 187 per cent YTD. The stocks climbed six per cent in December and about 25 per cent in the last three months.
TECHNOLOGY STOCKS
Docebo Inc (TSX: DCBO)
Cloud-based learning platform Docebo Inc saw its stocks gallop by over 272 per cent this year and by about 97 per cent in the last six months. Since getting listed on the TSX last year, the stocks have shot up by almost 365 per cent.
Toronto-based Docebo Inc currently posts a market cap of C$ C$ 2.06 billion. Its price-to-book (P/B) ratio stands at 35.943, while its debt-to-equity (D/E) ratio is 0.08.
Docebo stocks are currently priced at C$ 63.26.
CANNABIS STOCKS
Aphria Inc (TSX: APHA)
Aphria Inc made headlines last week (December 16) after reports of its merger with fellow cannabis company Tilray Inc was confirmed, triggering a spike in the prices of both the stocks.
Aphria stocks registered a growth of nearly 60 per cent in the last six months and by about 40 per cent this year.
The company’s net cannabis revenue jumped by a whopping 103 per cent YoY in the first quarter of fiscal 2021. Aphria and Tilray have claimed that based on their pro-forma revenues, the merged entity would be the largest cannabis company in the world.
