In the past month, the markets have seen a lot of turbulence, and the TSX has lost more than 5% of its value, erasing most of last year’s gains. However, not all stocks have struggled. Below are three stocks that have actually risen more than 15% in the past month.
Shopify Inc. (TSX:SHOP)(NYSE:SHOP) had a strong finish to the year, and the once-high-flying stock could be back on track toward $200. In just the last month, the share price has risen nearly 20%, as the stock broke through $150 and recently hit a new 52-week high.
While some investors may be concerned that growth may have slowed for the tech stock, it still has lots of potential to grow, especially after its software was chosen by the province of Ontario to help sell cannabis online.
The company has struggled to stay out of the red, but it’s understandable for investors to turn a blind eye given that in its most recent quarter, Shopify was able to achieve a sales growth of more than 70%. In three years, annual sales have skyrocketed from just $105 million to $673 million for a compounded annual growth rate of 86%.
Just Energy Group Inc. (TSX:JE)(NYSE:JE) jumped more than 18% after the company released a strong quarter in February that saw profits rise 15% from a year ago, despite seeing a slight decline in revenue. However, the share price still has a long road to recovery, as the stock hit a new 52-week low earlier in the month.
If the company can build on these strong results then there will be a lot of potential for the stock, but consistency has been a challenge with two of the last four quarters being in the red.
Just Energy trades at a low multiple to earnings and offers an 8% yield, making it a good bargain for investors not afraid to take on some risk.
Bombardier, Inc. (TSX:BBD.B) has been a very volatile stock in the past year thanks to the turmoil it’s been involved in south of the border and the recent partnership it undertook with Airbus to produce its CSeries jets.
The stock has quietly been mounting a recovery, as in the past 12 months the share price has risen more than 47%, and in just the last month the stock has increased 19%.
Initially, the share price got a boost when Bombardier won the tariff war with Boeing Co, although the stock eventually dropped back down shortly after the hype wore off.
Instead, it was the company’s recent quarterly performance that gave the stock its most recent boost. Although Bombardier still finished in the red, a $108 million loss was still a big improvement over the $251 million the company lost a year ago. Revenues of $4.7 billion were also up more than 7% from last year.
The big question for investors is how Bombardier will be able to recover in the long term, if at all. The company’s poor reputation is hurting its ability to grow, and it raises serious questions about just how competitive Bombardier will be in the years to come.
In the short term, there is some strong momentum behind the stock, but investors should be careful not to expect much more than that.
