Buy FortressBuy Fortress Paper
(6/30/2015)There’s one more company that looks to benefit from a Grexit, and that’s relatively unknown pulp and paper producer Fortress Paper Ltd.(TSX:FTP).
Essentially, investors in the company are betting on one thing. The company seems like the natural choice to get the contract to print a new Greek currency through a Swiss subsidiary. This speculation has sent shares soaring in the last few months, rising more than 47%. Look for that to continue in the upcoming days.
But there’s all sorts of other issues with the company. It lost more than $4 per share in 2014, and that was after losing $7.41 per share in 2013. The issue is with its main pulp mill in Quebec, which is a consistent money loser. Without a big contract, the company isn’t on great financial footing. Consider this one at your own risk.
Canadian investors shouldn’t sweat a Grexit. They should just treat it like any other misguided crisis and look at buying solid companies that are on sale.
From here: https://www.fool.ca/2015/06/30/what-does-a-grexit-mean-for-canadian-investors/