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Buzz on the Bullboards: Big Names Return

Omri Wallach Omri Wallach, Stockhouse
3 Comments| August 22, 2019

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If you’re looking to see the stocks that investors have been keeping an eye on over the past week, you’ve come to the right place. The Stockhouse Community regularly acts as a microcosm of investor sentiment at large. Great results lead to a lot of discussion and praise, poor results lead to even more discussion (with significantly less praise).

Every week we break down the most-viewed stocks on the Stockhouse Bullboards and dive into what users are saying. One of the most exciting things about our weekly review is seeing a chart-topping regular bounce back after a few rough weeks. Another is when a new entrant appears and captures our attention. This week, we have both!

Canopy Growth Corp (TSX:WEED, Forum) is back! Well, near the top of the most-viewed cannabis Bullboards at least. After a few weeks’ absence, the largest LP in Canada was back in the minds of cannabis investors, thanks to surprisingly poor fiscal quarter results. Shares dropped from $45.17 on Aug. 13 to $35.66 on Aug. 19, a 21% loss and around the 52-week low.

(Click image to enlarge)

So what happened at Canopy? Did Bruce Linton’s abrupt firing suddenly cause the end of the world? Not exactly. The fiscal results announcement highlighted a massive $1.2 billion net loss, with most of it coming from the extinguishment of warrants, but that doesn’t account for an unexpected increase in expenses and revenue that missed analyst estimates.

Yet the discussion on WEED’s Bullboard was less focused on a negative quarter and more emblematic of the entire cannabis industry. Stockhouse Member catchascatchcan is one of many that sees the long-term potential for Canada’s market, and Canopy alongside.

“I've been in WEED since $7 and loaded up at $10. At this point in time, all the shorts would laugh at someone like myself who's still holding and has not cashed in at the peaks. But, I'm of the mind that this is still just a baby stock in a baby space. The MJ market will take another ten years to 'mature', and is really just now starting to become legal in any way. Think what it will look like five years after the US goes legal/states rights. There is little doubt that the market for MJ products is real and will be legally monetized in the coming years...

While we now know that the Canadian market will take longer to migrate to legal sales, and may in fact be smaller than originally thought. We also know that it will not get smaller with the arrival of 2.0 products…”

(Po?st:We've been here before)

Another returnee was on the Top 6 most-viewed on the energy Bullboards: Baytex Energy Corp (TSX:BTE, Forum). Unlike most companies that draw large views, a glance at BTE’s price chart shows that it has had a relatively stable summer, but that stability is trending downwards. On Aug 15, shares hit a new 52-week low and closed at $1.68.

(Click image to enlarge)

On the news front, the oil and gas company has been relatively quiet. At the beginning of August it released Q2 2019 results, and a few days later announced that the company’s CEO would present at an industry conference.

Naturally, an absence of news simply served to fuel speculation on the company’s Bullboard discussions. Why was BTE’s management up to behind-the-scenes? Was the stock about to turn around, as it had done in the spring? Amidst a sea of suggestions, Stockhouse Member AndreiV pointed out that Baytex still looked solid to them even in a worst-case scenario.

“BTE has massive value at theses prices. If they had to sell their Eagle Ford assets they already could pay off all debt and buy back half of the BTE shares. As long as WTI stays above 55 it's a safe investment they can survive and slowly pay down debt. At 60-65 they are already making massive profits.

The ballad of familiar faces on the Stockhouse Bullboards continues at the technology sector with Patriot One Technologies (TSX:PAT, Forum). The Canadian security systems developer is back following a few weeks’ absence as PAT shares started the week at $1.81 on Aug. 13, dipped to $1.71 the next day, shot back up, and finally stabilized at $1.79 on Aug. 20.

(Click image to enlarge)

Explaining the initial dip is tricky, but the recovery correlates roughly to Patriot One announcing a partnership with Jonson Controls International Plc (NYSE:JCI) on a security platform contract. Still, a glance at the six-month chart shows that the company has struggled to maintain a solid direction for long.

The question on the PAT Bullboard is, why? From an outside perspective, Patriot One has solid contracts and potential, so Stockhouse Member PliskinNYC was one of many wondering why Canadian investors haven’t been enamored by the company.

“…I wasn’t saying nasdaq was the answer, although I think it would only help things, but I’m just a little surprised PAT isn’t being touted as what they are proving to be as far as their story is concerned.
I understand waiting for more fundamentals, but man, you would think there would be a little more buzz and excitement up there around this. Just my opinion.”
(Po?st:RE:RE:Johnson Controls nr & Canadas market reaction)

Finally, this week we have a visitor from the materials sector to the most-viewed industrial Bullboards. As the other top companies are usual suspects on Buzz, and even though we don’t normally track the materials sector, an impressive showing from Chemtrade Logistics Income Fund (TSX:CHE.UN, Forum) demanded some coverage. Shares of CHE.UN jumped up a few points from $9.52 on Aug. 13, fell down, and jumped back up to settle at $10.05 on Aug. 20.

(Click image to enlarge)

The industrial chemicals provider turned some heads last week when it released fiscal quarter results with lower revenues but higher adjusted EBITDA. Alongside these results, the Fund announced its August distribution was on-par with those in previous months.

After discussing the quarterly results, Chemtrade’s Bullboard shifted to focus on an increase of insiders buying CHE.UN shares. While a few posts had a negative outlook, Stockhouse Member trevorjplows was in the majority feeling that this was a sign of even more good things to come.

“I am not sure what point you are trying to make with that last post. Insiders buy and sell for various reasons and i dont necessarily think that is indicative of the company. To have your salaries and bonuses as well as a large share position is putting all your eggs in one basket. However when insiders as a group do buy you can be sure of one thing , they are convinced the sp is going higher sooner than later. this quarter is more than half over and the insiders are well aware of the numbers unlike us…”

Although we didn't get to the metals and mining sector this week, Stockhouse is still interested to see which resource companies you're following. Head over to our homepage or click the image below to cast your vote for which companies you'd like Stockhouse to invite to our next online conference!

(Click image to go to the poll)

Until next week, which should be interesting as the summer wraps up. As always, let us know what sectors you want to see highlighted in the future, or what companies you’re interested in hearing about. For previous editions of Buzz on the Bullboards: click here.

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August 28, 2019

It may be a coincidence, but I'm guessing there's something to it.
August 22, 2019

The popular boards also have the most spam. Is that a coincidence?
August 22, 2019

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