November 11, 2020

Although it was Remembrance Day in Canada and Veteran’s Day in the U.S.; the markets were open today.

The S&P 500 was up 0.8% and Toronto was up 1.0%. 

Linamar surged 16% after releasing earnings.

Some of the “tech” stocks that had declined on Monday/Tuesday on news of progress on the vaccine front recovered somewhat with Shopify up 7.2% and Amazon up 3.4%

Melcor Developments managed a 5.6% gain to $7.00 on its earnings news. That’s not much of a gain considering how low it is and considering its book value per share is $32.83.  The trading volume remains extremely thin. There is almost no market interest in this company. Given my large position in this company, I will update the report shortly.

The Boston Pizza units were up 3.1% to $8.90. They will report Q3 on Friday morning. Given what they already reported on October 1, we already know that BP did reasonably well in Q3 considering. But now we are facing some more closures. I would be surprised to see these units get much higher in the short term  and could instead sink back. But we shall see what they say on Friday.

Andrew Peller was up 6.6% but that appears to have been in advance of releasing earnings after the close (leak?). The earnings  results appear to be good. Sales were up only 1% but earnings were up substantially.

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