Bombardier (STAR)
BBD-B - TSX
For years, investing in Bombardier was about as much fun as jumping out of an airplane without a parachute. But after plunging deep into penny-stock status last fall, shares of the troubled aircraft maker have rebounded more than 400 per cent as the slowing pandemic has breathed new life into air travel. In another encouraging sign, Bombardier this week announced a firm order for 10 business jets worth US$451.8-million – its biggest sale of the year – from an undisclosed customer. Pretty sure it’s not the Trump Organization.
Moderna (STAR)
MRNA - Nasdaq
Remember back in November when Moderna said its mRNA vaccine had an efficacy rate of 94.1 per cent against COVID-19? And remember how you didn’t buy the stock because it had already jumped 20 per cent that day and you figured you had missed out? Well, don’t kick yourself, but the shares have added another 50 per cent since then, bolstered by an accelerating global vaccination campaign and by data this week indicating that Moderna’s two-dose shot produced neutralizing antibodies against the highly contagious Delta variant. It’s definitely too late to jump in now, right?
Marin Software (STAR)
MRIN - Nasdaq
Those darned Reddit kids are at it again. Not content with making a small fortune by orchestrating short squeezes that propelled AMC, GameStop and BlackBerry to ridiculous heights, the greedy WallStreetBets gang this week threw its muscle behind Marin Software, a money-losing online advertising company with just US$30-million of revenue last year. With Marin’s stock soaring more than 1,000 per cent over the past two weeks, one Reddit commenter observed: “This is a pump and dump … it is so obvious.” Say it ain’t so.
Bed Bath & Beyond (Star)
BBBY - Nasdaq
Business quiz! Shares of Bed Bath & Beyond rose after the retailer of home goods: a) announced that it would be offering a free 30-minute aromatherapy bubble bath and souvenir bath towel to customers who purchase at least $100 of merchandise; b) agreed to a $5-billion merger with a well-known Canadian tech company to create Bed Bath & Beyond BlackBerry; c) posted net sales growth of 49 per cent for its fiscal first-quarter, helped by store renovations and the launch of new brands, and hiked its full-year revenue forecast. Answer: c.
Alimentation Couche-Tard (STAR)
ATD-B - NYSE
Now that the economy is opening up, we can all get back to the things we’ve missed – such as sitting in bumper-to-bumper traffic. Alimentation Couche-Tard isn’t complaining: With more cars on the road, the convenience store giant’s total merchandise and service revenues surged 15.2 per cent to US$3.7-billion for its fiscal fourth quarter ended April 25, as adjusted net earnings rose 10.6 per cent to 52 US cents a share. Investors are using their profits to plan an epic road trip.
A humorous look at the companies that caught our eye, for better or worse, this week
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John Heinzl