On Tuesday, the S&P 500 and Toronto were each up 0.3%.
Toll Brothers was down 7.9% to $45.32 despite its strong earnings report. It remains one of my larger positions. If that were not the case I would be very tempted to buy more shares at this price given the strong earnings report. I also want to hold onto my cash in case markets decline.
AutoCanada was down 7.8% today. It has had an extremely strong recovery in recent months and so this pull-back is not too surprising. It now seems well positioned for future earnings growth but volatility can be expected.
The Melcor REIT issued a press release after the close basically indicating that it was not going to do anything in response to Firm Capital’s suggestion that Melcor Developments take it private. I had said I did not particularly expect anything to come out of this. It seems logical for the REIT to hunker down now and get through this pandemic. The unit price may decline on this news.
Alberta just announced quite a hard lock down for the next four weeks. Alcanna may do well on this news. Most of its business consists of liquor stores in Alberta and those are going to get even busier. The stock has done well lately (albeit after years of poor performance). At around $6.00 it seems attractive although somewhat speculative given its past. Boston Pizza, will see lower sales and so the Boston Pizza units could decline.