This year began on a confusing path for investors as sectors struggle under greater inflation costs and hopes of an imminent interest rate cut fade.
A few weeks later in 2024, we are starting to see a clearer picture of where many companies are headed this year.
Much of the most heated discussion on Stockhouse’s Bullboards has centred on any moves made by the likes of Tilray Brands Inc. (TSX:TLRY, Forum) and Bombardier Inc. (TSX:BBD, Forum).
In this week’s edition we will look at some of the companies that people are talking about across several sectors. In some cases, the opportunity for investors is obvious, while in others, a lack of information can make for interesting deep-dive discussions into what is known.
One of the most talked about companies on the Bullboards is cannabis stock Tilray. The Canadian cannabis license producer released two new fruity high-alcohol drinks under its SweetWater Brewing brand.
The new line of SweetWater Gummies brews is available in two flavours, Sour Watermelon India Pale Ale and Cherry Limeaid IPA that are brewed with real fruit and clock in at 9.5 per cent alcohol-by-volume.
The brewery team described Sour Watermelon IPA as having a candy aroma, a crisp fruity body with a hint of tartness, and a slightly sweet finish. While the Cherry Limeaid IPA is said to boast a lime-forward profile, a subtle maraschino cherry aroma, a sweet citrus body, and a hint of candy cherry flavour.
Source: Tilray Brands, Inc.
The Leamington, Ontario-based company made a number of recent moves in the beverage space, having recently acquired Truss Beverage Co. from Molson Coors Canada (NYSE:TAP, Forum) and eight beer and beverage brands from Anheuser-Busch (NYSE:BUD, Forum). Tilray’s cannabis brand, Riff launched its new Riff Boost beverage collection earlier this month that features two new ready-to-drink THC- and CBG-infused drinks.
Tilray stock has moved 7.63 per cent higher in the past three months and moved
0.36 per cent higher in early Thursday trading at C$2.82 per share.
Tilray also topped the Health Care Bullboard discussion this week, but next on the list was a hot topic, and that was Reliq Health Technologies (TSXV:RHT, Forum).
The healthcare technology company saw a boost from news it has expanded its contract with a large U.S. health plan.
The health plan operates accountable care organizations and health maintenance organizations in five states with more than 3,000 doctors and more than 1 million patients. The expansion is expected to add more than 50,000 new patients to Reliq’s iUGO Care platform by the end of 2025 at an average revenue of $65 per patient per month.
The rally was short-lived and Reliq stock fell 10.42 per cent this week, as trading was halted on Wednesday.
Reliq Health specializes in developing virtual care solutions, including its iUGO Care platform that connects wearables, sensors and voice technology with mobile apps and computer software.
The platform provides real-time access to remote patient monitoring data that can help prevent hospital readmissions and trips to the emergency room.
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Uranium stocks have gathered much investor attention of late, after the world’s biggest miner of nuclear fuel, Kazatomprom, warned it could miss production targets for up to two years, driving the value of other uranium stocks higher.
Prices jumped to a 16-year high this week, beyond US$105/pound and uranium stocks also saw a lot of growth.
Feeding off this news was Uranium Energy Corp. (NYSE American: UEC, Forum), one of the top trending companies on the Bullboards.
The independent U.S. uranium miner announced it is restarting production at its Christensen Ranch In-Situ Recovery site in Wyoming. The recovered uranium will be processed at the Irigaray Central Processing Plant with a current licensed capacity of 2.5 million pounds U3O8 per year. The first production is expected by August 2024.
Uranium Energy Corp. opened at C$10.88 a share. This uranium stock has leveled up 17.97 per cent this week and jumped 123.61 per cent in the past year.
Aviation giant Bombardier was awarded a contract from the U.S. Army for up to three Global 6500 business jets to be modified into a novel spy plane prototype.
The company touts the Global 6500 as an ideal aerial-intelligence, surveillance and reconnaissance aircraft thanks to its 12,223-kilometre range, class-leading maintenance intervals and compatibility with mission-critical equipment.
Source: Bombardier.
The contract with the Pentagon includes one jet, to be delivered by Oct. 1, that will be retrofitted with signals intelligence equipment, screen banks and other electronic systems under the HADES aerial reconnaissance program.
Though consideration was not disclosed, the Global 6500’s just under C$75 million price tag means the total contract value could approach C$225 million.
Bombardier has been advancing sales of militarized versions of its jets to other countries, expressing its disappointment in the Canadian government’s decision to award a generational contract to Boeing Co. (NYSE:BA, Forum). 16 of Boeing’s P-8A Poseidon aircraft will join the Canadian Multi-Mission Aircraft project. Bombardier stated this was done without an open and fair competition and without fully evaluating its home-grown industry’s multi-mission aircraft capabilities.
Though up 1.18 per cent Thursday, Bombardier’s stock has steadily moved lower, down 17.85 per cent over the past year with 5.06 per cent is losses this week, while Boeing (up 1.85 per cent Thursday) has dropped 8.56 per cent over the past week and has lost 22.20 per cent in the past month because not all news is good news.
Keeping track of every noteworthy move in the markets can be a daunting challenge. A helpful way to keep up with the news is the weekly Buzz on the Bullboards to make sense of it all.
With heavy daily fluctuation as markets touch record numbers, the coming weeks are sure to be interesting. For previous editions of Buzz on the Bullboards: click here.
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