At the close of the market today, a new winner emerged as the champion of this month’s contest, with an average return of 99.06%.
Ever since grabbing hold of 1st place weeks ago, long-time member ‘willmr’ never let go…
Congratulations ‘willmr’! The Stock Challenge has not seen a smooth cruise to victory like yours in several months. Job well done!
Interestingly, four players all got a sniff of 2nd place at least once today, but in the end, ‘Dave Melenchuk’ prevailed!
Congratulations to the three of you! Your prizes will be shipped out shortly — please check your inboxes for messages from our support staff.
The Stock Challenge Index Rallies On
Two weeks ago, we reported that, after a sustained nose-dive, the Stock Challenge Index (SCI) was showing signs of recovery.
And believe it or not, despite fears of selling in May and going away, the SCI closed the month at one of its best average returns since February this year.
The market is starting to look more enticing for investors. As the threat of inflation looms large over the global economy, many are looking for yield in the stock market.
Mining Stocks Dominate Among Top Performers
May’s leaderboard presents a great snapshot of the market and where the momentum is headed. Seven of the top 10 performers this month had mining companies as one of their stock picks. And this month, just one crypto-based stock helped to propel a contestant into the top 5.
‘Willmr’, on the other hand, was catapulted to victory exclusively by healthcare stocks. Investors will do well to watch this space…
Earlier this month, Royal Philips released a report detailing the transformation of the global healthcare sector as a result of the pandemic. And according to their findings, nearly two-thirds of healthcare providers across 14 global markets are now investing heavily in digital health.
May’s Most Popular Stock Picks
Reconnaissance Energy Africa Ltd., one of the best-performing energy stocks on the TSX Venture last year, was the most popular pick from Stock Challengers this month. POET Technologies Inc. is, once again, the 2nd favourite choice for this month’s contestants. And investment firm Bucephalus Capital Corp. has suddenly become popular with Stock Challengers.
While the world waits for monetary policies from various central banks as they try to suppress impending inflation, it will be interesting to see how the market reacts to the uncertainty in the coming months. Let the battle for June begin!