It has been a wild ride for markets on Bay Street and Wall Street this week.
Some indices hit lows not seen in nearly a year after a concerning inflation report, only to bounce back the next day.
It is reporting season for many companies, and Stockhouse users seem bullish about big swings and small cap opportunities alike, so tapping into the Bullboards can show us what’s captivating value-seeking investors. This week, we highlight three plays that drew attention.
Canopy Growth (TSX:WEED, Forum) reported its fiscal Q3 2024 financials indicating a decline in losses as gross margins rise.
The Canadian cannabis stock earned C$78.5 million in net revenue, a 7 per cent drop year-over-year because of a decline in Canadian cannabis revenue. Overseas cannabis sales rose 81 per cent year-over-year to C$10.5 million.
Canopy Growth achieved its third quarter of sequential revenue growth across its Canadian cannabis businesses. The company narrowed its net loss by 18 per cent since last year to C$216.8 million from C$264 million. The company’s cash and cash equivalents decreased to C$142.7 million from C$667.7 million at the end of last year.
Its Canadian medical cannabis business generated record net revenue in Q3, increasing 11 per cent to C$15.6 million compared to the prior year’s C$14.1 million. The increase in Canadian medical cannabis revenue was mainly because of a shift in the customer mix and a larger assortment of cannabis products.
Theralase Technologies (TSXV:TLT, Forum) has donated some of its technology to help advance university studies into Parkinson’s disease treatment.
In a news release, the Toronto-based pharmaceutical company stated it had donated two Theralase TLC-2400 Cool Laser Therapy (CLT) systems to the University of Windsor to help in the research and development of a novel treatment for patients suffering from Parkinson’s disease.
Theralase revealed it is working in collaboration with researchers at the University of Windsor’s Faculty of Human Kinetics and a Windsor-based chiropractor to conduct this clinical study.
The study is focused on how Theralase CLT can be used to treat Parkinson’s. Theralase’s CLT, with its super-pulsed laser technology, is one of the few technologies in the world able to non-invasively penetrate the human skull, promoting anti-inflammatory responses and stimulating neurons to promote healing from the disease.
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With no known cure, Parkinson’s is a neurological disorder where the brain loses its ability to control movement. People with Parkinson’s may struggle with walking, talking, memory loss, chronic pain, fatigue, depression, anxiety, loss of the sense of smell and other non-motor impairments.
Around 1 million people in North America and 10 million people worldwide suffer from Parkinson’s. From 2019-2020, the Canadian Chronic Disease Surveillance System reported more than 12,500 new diagnoses of Parkinson’s and, overall more than 103,000 cases of Parkinson’s were reported in Canada. Nearly 90,000 people are diagnosed annually in the United States, according to Parkinson’s Foundation data.
Despite better-than-expected revenue, Bombardier’s (TSX:BBD, Forum) profit declined in Q4 2023, but it is targeting more aircraft and more revenue in 2024.
The Canadian business jet manufacturer’s revenue rose 15.3 per cent to C$3.06 billion in Q4 2023 and its total revenues for the year were C$8 billion, a 16 per cent increase compared to 2022. Free cash flow from continuing operations rose to C$646 million from $169 million a year earlier.
The company expects full-year 2024 revenue of C$8.4 billion to C$8.6 billion, compared with analysts’ expectations of C$8.27 billion.
However, Bombardier’s net income declined to C$215 million, or $2.11 a share, down from Q4 2022’s C$241 million.
Aircraft deliveries in 2024 are expected to be between 150 and 155 jets, compared with 138 jets delivered in 2023. Free cash flow is expected to be C$100 million to C$400 million after last year’s C$257 million.
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