AutoCanada got hammered down 21% after releasing earnings. They have been really hard hit by higher interest rates. I knew that interest rates were a headwind for them but I thought that vehicle margins should be high with the shortage of vehicle. But it seems that the vehicle margins were not strong.
I’ll update this one within the next week or so and take a close look at their balance sheet.
Other investments that could be particularly hard hit by higher rates include the Brookfield Office Property preferred shares that I have been mentioning. They may report as soon as after the close today.
Andrew Peller has had weak results and faces high interest costs.
I will definitely be looking closer at balance sheets and interest rate risks in my updates.