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stars and dogs

A humorous look at the companies that caught our eye, for better or worse, this week

Lyft (DOG)

Investing in Lyft’s US$2.34-billion IPO seemed like a good idea at the time. But since going public in late March, the ride-hailing service has been giving investors a ride from hell. Shares of the company, initially priced at US$72, soared as much as 23 per cent on their first trading day, only to give all of those gains back – and more – over the next two weeks. With investors questioning Lyft’s lofty valuation as rival Uber prepares to go public, the stock could be spinning its wheels for a while.

LYFT - Nasdaq

Canopy Growth (DOG)

Marijuana stocks overvalued? This is shocking! Citing “tepid” sales after legalization, fewer new store openings than expected and “packaging, processing and quality assurance constraints," Scotia Capital warned that earnings estimates for cannabis producers are too high and predicted that the next batch of quarterly results will be disappointing. For Canopy Growth, Scotia chopped its fiscal fourth-quarter revenue estimate by 26 per cent to $87-million. What a buzz kill.

WEED - TSX

Baytex Energy (STAR)

There once was a business called Baytex

That chewed through a lot of folks’ paycheques

But as crude oil rebounded

They all were astounded

That the stock was no longer a train wreck

BTE - TSX

Papa Murphy’s Holdings (STAR)

Forget rising crust pizza. Papa Murphy’s investors feasted on something even more delicious this week: a rising stock price. Shares of the “take ‘n bake pizza” chain – Papa Murphy’s makes the pies fresh, but you have to cook them at home – were all hot and gooey after Canadian restaurant franchisor MTY Food Group agreed to acquire the U.S. company for US$6.45 a share or US$190-million, including debt. Make it an extra-large with a double-topping of $100 bills, please.

FRSH - Nasdaq

Dean Foods (DOG)

Care for a glass of cold, refreshing milk? Didn’t think so. As milk consumption drops and consumers switch to alternatives such as soy- and almond-based beverages, U.S. dairy giant Dean Foods has shed about three-quarters of its market value in the past year. With rising costs, the proliferation of private-label milk brands and Dean’s high debt load making matters worse, the company recently suspended its dividend after posting a bigger-than-expected 2018 loss. This must be udderly disappointing for investors.

DF - NYSE

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