The world is finally recovering and healing from the lethal attacks by the pandemic which kept coming back. With the vaccine available, the business is finally welcoming customers and profits. In the period of last year, we have seen stock traders suffer a lot because of sudden lockdowns and consequent economic losses.
StocksCM Broker, Mr Tony Novak is optimistic regarding the suffering business getting back on track soon and he has discussed 3 stocks that you can consider buying this June. Let’s have a look at each one of these in light of their past performances and future plans.
Canopy Growth Corporation
Canopy Growth Corporation is an Ontario based company that was previously known as Tweed Marijuana Inc. The firm was founded in the year 2013 by Mr Bruce Linton and his partner Mr Chuck Rifici. The firm was named Canopy Growth Corporation in the year 2015 when it was merged with another firm Bedrocan Canada that year. The company deals in cannabis and cannabis-derived products such as oil, dried flowers, infused beverage, vaporizer devices, soft gel capsules, etc. The company is world-famous and has made a successful entry in the markets of Canada and the United States in the health and wellness sector. It has many subsidiary companies that are equally well known and well established in difficult markets such as those of Europe. In the year 2020, despite the harsh conditions inflicted by the pandemic, the company made a huge revenue of around 440 million Canadian Dollars. Mr Novak says that the current performance of the company is a clear indicator that the company is continually growing at the same steady pace. He said that in the light of some recent advancements such as the company signing Southern Glazer’s Wine and spirit for distribution for its beverage. They have also launched another beverage line which will now be widely available all across the US. All such advancements together make the stock look like a good buy. What do you think?
Sea Limited is another stock that looks very promising at the moment. It is a Singapore based company which deals with internet services. The company came into existence in the year 2019, on the 8th of May by Mr Xiaodong Li who is also the current CEO. This isn’t it, the tech company also holds the famous e-commerce company Shopee and the online game publisher as well as developer Garena. Mr Novak says that the company is successfully running because according to the statistical data, the value has more than tripled in the period of the past year. If we turn towards the revenue, then the quarterly report suggests that the company has seen a huge surge of more than 145% in the total revenue and a 121% increase in the cash in hand. A Hedge fund manager from Asia said at a recent conference (Sohn Hong Kong Conference) that he sees the stocks share over US Dollar 600 in the near future. He is Mr Rashmi Kawatra from Sixteen Street Capital who presented his thesis for Sea Limited. In line with his remarks, Mr Novak recalled the time when the stocks were being sold for a total of 13 US dollars and now the value is somewhere near 200.
American Eagle Outfitters Inc.
American Eagle Outfitters or American Eagle is a Pennsylvania based company that is all about American clothing, accessories and lifestyle. They are famous for their tees, hoodies, jeans, shorts, etc. The firm was founded in the year 1977 and has many subsidiary companies such as Tailgate Clothing Company, Aerie, AEO Management Co and AE Direct Co. LLC. The parent organization is Retail Ventures. The American based company made a revenue of 4.308 billion US Dollars in the year 2019. The firm currently operates with physical outlets in the United States, Mexico, Hong Kong and Canada but the merchandise can be purchased from a total of 200 different locations all around the world through the e-commerce division with shipping services to 81 countries. In the period of last year, the companies have suffered a lot at the hands of the pandemic but despite all the odds the stock value of the company has gone over 240% and Mr Navok thinks this is the right time to buy it. He says that according to the quarterly reports and other statistics the 240 figure is bound to rise. This quarter, the revenue has gone up by 87% and the posted revenue was worth 1.03 billion US dollars. With all these figures in front, it can be clearly seen that American Eagle Outfitters can be a great buy this month.
Stocks are something that you can never be sure about but keeping in mind the above-discussed facts and figures, it can be said that these three seem to be a great buy for the month of June.
Disclaimer: Our content is intended to be used for informational purposes only.
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