Sunday , June 13 2021

The TSX May Be The Best Start Since 1980, But These 3 Stocks Continue to Beat The Market



The TSX Index, Canada's benchmark for publicly traded securities, is off to its best since 1980, including an eleven-day winning streak as of Friday's close.

That's all well and good, but these three stocks have fared even better, outperforming the TSX by a considerable margin since the year began.

Canopy Growth Corp (TSX: WEED) (NYSE: CGC)

Shares in Canada's largest licensed cannabis producer have continued to be in the new year, up to whopping 57% since the start of January.

WEED stock remains below its all-time high of $ 76.88 reached just one day before recreational cannabis became legal in Canada, but got a nice boost last week after it inked a deal with New York state officials to legally produce hemp, a month after President Donald Trump signed the U.S. Farm Bill into law, legalizing shirt.

Canopy has plans to invest somewhere between US $ 100 as much as $ 150 million toward a production facility in New York state, which will be its first extraction and processing facility outside Canada's borders.

Enbridge Inc (TSX: ENB) (NYSE: ENB)

Enbridge stock is up nearly 13% so far in January versus the TSX Index, which posted a 6.83% gain thus far in January.

Enbridge stock now sits just a loonie or two below its 52-week highs.

Shares are yielding investors at 6.16% annual dividend, and with management already on record with plans to increase the payout over the next couple of years, not only is Enbridge a solid high yield for investors and retirees, but it's also extremely strong candidate as a dividend growth investment for younger investors looking to take advantage of the power of compounded interest.

However, given the extent of January's move in light of the historical volatility that ENB has tended to exhibit, investors may want to give this one a little space and look for a pull back before initiating a position.

Cronos Group Inc (TSX: CRON) (NASDAQ: CRON)

It seems that everybody has already heard about Canopy Growth at now, but Cronos is a strong candidate as well as becoming a leader in several key international markets.

At this point it's looking more and more like cannabis investments are becoming the long man's game. Although Canopy may have been the first to swing, it remains to be seen whether it is a company like Cronos standing tall when all is said and done.

Shares in Cronos Group are up a little over 37% through the first three weeks of trading in January.

Amazon CEO Shocks Bay Street Investors By Predicting Company "Will Go Bankrupt"

Amazon CEO Jeff Bezos recently warned investors that "Amazon will be disrupted one day" and eventually "will go bankrupt."

What might be more alarming is that it has been dumping roughly $ 1 billion worth of Amazon stock every year …

But Bezos isn't just cashing out, it's reinvesting its money into a company utilizing a fast-emerging technology that will improve every business.

In fact, this techno- logy could be bigger than the bigger than Amazon, Tesla and Berkshire Hathaway combined.

Get the full scoop on this opportunity that has billionaire investors like Bezos convinced – before it's too late…

Click here to learn more!


Fool contributor Jason Phillips has no position in any of the stocks mentioned. Enbridge is a recommendation of Stock Advisor Canada.


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