June 20, 2017

On Tuesday, the S&P 500 was down 0.7% and Toronto was down 0.8%.

Ceapro, our one penny stock, was down 5.1% to 92 cents. This could easily continue to go down unless there is some positive news on the earnings or future products front. This was always a speculative pick. I am not inclined to make further investments despite the lower price.

CRH Medical was down 3.0% in Toronto and 3.5% in USA trading. I think they have a solid business model and so I would consider adding to this one on this and the recent weakness.

I notice that Home Capital had a nice inflow into its high interest savings account product on Monday. (The first notable inflow since the big outflows started.) They likely did even better on Tuesday. This lender appears to be out of the woods now operationally. It will be interesting though to see what kind of loss it will post for Q2. The share price is likely to continue to be volatile.

Statistics Canada reports that wholesale trade increased in April. Apparently, the economy continues to grow. I note the vehicle sector was down. On June 14 I noted that the retail auto sales in April were up nicely in dollars although down in units. So, conflicting signals here but it might suggest dealers were less confident and brought in fewer new cars.

 

 

 

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