June 1, 2020

Ignoring the riots, stocks were higher on Monday with the S&P 500 up 0.4% and Toronto up 0.3%.

Canadian Western Bank was up 4.0%.

Canadian Western Bank is updated and rated Speculative Buy at $23.59. It looks quite cheap. But the extent of loan losses it is facing is hard to guess (even for CWB management). It will probably turn out to be a very good investment but due to potential loan losses it is not without risk.

AutoCanada was up 3.6%.

The Canadian dollar at 73.8 cents U.S. has risen recently in spite of a lot of predictions that it was going to fall.

WSP Global is issuing shares indicating it is for potential future acquisitions. I wonder if it is also to take advantage of a fairly high stock price which has wheathered the pandemic better than most.

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