The TSX Is a Dud: Here Are 3 Stocks That Aren’t!
The TSX has performed horribly over the past few years with the index up by less than 4% during that time, and year to date it is down by around 5%. There are many factors that could be weighing on investors as interest rates are back on the rise and minimum wages have gone up as well, and that’s likely to create more challenges for companies to stay competitive, especially with stocks being as expensive as they are today.
But it isn’t all bad, and there are still good options out there for investors. Below are three stocks on the TSX that have generated returns of more than 50% during the past year and that could continue to increase in value.
Canada Goose Holdings Inc (TSX:GOOS)(NYSE:GOOS) hasn’t been listed on the TSX for long, but it’s already been one of its top performers. In the past 12 months, its share price has risen a whopping 138%, and with the company expanding into China, it could just be scratching the surface as it looks to sell its popular apparel to more places around the world.
Canfor Pulp Products (TSX:CFX) has been able to perform well despite looming issues surrounding softwood lumber. Even amid talks of duties the stock continued to do well and in the past year it has risen more than 70% in value. With natural disasters unfortunately becoming an annual occurrence in coastal cities south of the border, the demand for lumber to rebuild and repair homes will ensure that Canfor will continue to see strong sales in the quarters and years to come.
Aimia Inc (TSX:AIM) is proof of how quickly a company can turn things around. Many investors wrote off Aimia after Air Canada (TSX:AC) announced it was pulling out of the Aeroplan program. However, after Aimia set said that it would be looking to get into the airline industry, we quickly saw an Air Canada-led group bid for rewards program. The deal meant a big inflow of cash for Aimia, and with its astute management, it has the potential to take on newer and bigger projects that could add value for investors. In the last 12 months, Aimia’s stock has climbed around 64%.