Gzdu 2 Canadian Stocks That Turned $5,000 Into $10,000 in Just 1 Year
The tech stock聽selloff聽that began on December 30, 2021, continues. One of the hardest-hit stocks from this selloff was聽L
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ightspeed Commerce聽 TSX:LSPD NYSE:LSPD , and the dip continues. Its stock fell over 6% t
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oday, adding to its one-week decline to 14%. The stock has lost 82% of its valuation since the Spruce Point聽report聽in September 2021. What triggered the latest dip What happened in the past week On April 20, Statistics Canada released its March inflation numbers. The inflation surged from 5.7% in February to 6.7% in March. When inflation rises, the average investor s appetite to sacrifice current consumption for future growth prospects reduces. The surge in inflation created panic, sending growth stocks into the red.聽Nuvei聽and聽Shopify聽fell 5.5% and 14%, respectively. Lightspeed stock fell 6.24%.聽U.S. inflation
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rose to 8.5% in March from 7.9% in February. The accelerating inflation has forced the Fed to take a tough stance. On April 21, Fed chair Jerome Powell聽hinted聽at the possibi Fkie Can BlackBerry (TSX:BB) Hack it as a Software Company
The latest ensuing market crash聽is devastating global stock markets across the board. It is crushing Canada s Big Five Banks. Shares of Canada s largest lender,聽Royal Bank of Canada, are down by more than 15% from the February 21, 2020, peak.Similarly, shares of聽Bank of Nova Scotia聽 TSX:BNS NYSE:BNS and Toronto-Dominion Bank聽 TSX:TD NYSE:TD are down by 18.14% and 18.01%, respectively, from the start of the year.The short-term outlook for all significant equities looks poor. The statement is more accurate for Canada most prolific financial institutions. Despite the near-term outlook, I think both BNS and TD offe
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r investors something to look
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forward to.Let s take a look at how the two financial institutions fared during the market crash of 2008 for reference.ScotiabankAt writing, the Scotiabank stock is trading for a forward P/E ratio of 7.93 and a 1.12 P/B value ratio. The bank shares
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will likely pull back further, as the coronavirus-crazed sell-off increases. Still,