The end of the year is fast approaching but that doesn’t mean the markets have slowed down as the holidays quickly approach.
Over the past five-day period, the S&P/TSX Composite has increased by 23 points to 20,862.86, while the S&P/TSX Venture Composite has risen by 8.75 points to 543.27 points. This is in part thanks to rising crude oil prices leading to an increase in energy stock prices.
As the year comes to a close, looking back on how the markets performed in 2023 can only be described as cautious as inflation rates pressured investors while the cost of groceries alone nearly fueled a recession.
Is there hope for a market rebound in 2024? No one can really say for sure. But, even in the midst of chaos, some stocks still stand out above the rest and generate buzz from investors. Let’s take a look and see what sectors and companies investors have been talking about.
Healthcare stocks always generate attention, andQuipt Home Medical (TSX:QIPT) has generated interest from investors thanks to its Q4 2023 and full year financial results.
The home medical equipment provider announced Monday that its revenue for fiscal year 2023 was US$221.7 million, up from $139.9 million for fiscal 2022, representing a 59 per cent increase.
Quipt Home Medical also revealed that its customer base increased by 65 per cent year-over-year to 285,819 patients, up from 173,203 patients in 2022.
“Our growth strategy continues to yield consistent financial and operational results, and we are pleased with the team’s continuous efforts to expand our patient-centric ecosystem into strategic areas around the country. To achieve our goals for organic growth, we have been concentrating our efforts on areas where COPD prevalence is high and extending our sales efforts into continuum markets,” Greg Crawford, CEO of Quipt Home Medical, said in a statement.
Over the course of the year, shares of Quipt Home Medical have risen by 1.08 per cent to C$6.58.
Canadian oil companyAthabasca Oil (TSX:ATH) has also been generating tons of buzz from investors.
Most recently the Calgary-based company entered into a partnership with Cenovus Energy (TSX:CVE) to develop a new corporation in Duvernay Energy.
Under the terms of the agreement, Athabasca Oil will own a 70 per cent interest in Duvernay while Cenovus will own the remaining 30 per cent. It is estimated that Athabasca will contribute $22 million in seed capital and Cenovus will contribute $18 million.
Duvernay Energy will also provide exposure to more than 200,000 gross acres.
What the “Buzz”
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In the technology sector, PyroGenesis Canada (TSX:PYR) has topped headlines thanks to the company receiving a U.S. patent for its NexGen plasma atomization powder.
The NexGen plasma atomization technology is used for producing metal powder for use in additive manufacturing and 3D printing. Notably, the patent describes the innovative aspects of the technology that creates the potential for higher and more efficient production rates, including a two-wire simultaneous feedstock approach where the wires themselves are electrically charged before reaching the plasma atomization step.
“The NexGen process is a significant departure from conventional plasma atomization, as the improved efficiency from NexGennot only targets higher production rates, but also narrower particle size distribution for more uniformity and consistency, and an ability to tailor particle size distribution to customer requirements,” Pierre Carabin, CEO of PyroGenesis, said in a statement.
Year-to-date, shares of PyroGenesis are down 60.85 per cent to C$0.42.
From the newest hot sectors and rising small-cap opportunities, to the monumental shakeups and stories that seem to pop up out of nowhere to captivate the markets, make sure to stay tuned, and for previous editions of Buzz on the Bullboards, click here.
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