Another riveting round of Stock Challenge has come to an end.
After pulling ahead shortly after our mid-month update, player ‘FlashCMA’ managed to hold on to top spot, despite stiff and constant pressure from both runners-up, closing out the month with an average return of ~77.64%.
Ladies and gentlemen, we present to you October’s Stock Challenge Champion: ‘FlashCMA’!
Congratulations ‘FlashCMA’! No matter how hard they tried, you weren’t letting go for anybody!
Congratulations to all three of you! Your prizes will be coming your way shortly. Please look out for an email from our support staff to help us get your prizes shipped out asap.
The Stock Challenge Index
October is the hottest the Stock Challenge Index (SCI) has been since February of this year.
The vast majority of stocks selected in this month’s Stock Challenge were TSXV-traded stocks — more than a third of all the stocks selected for October’s contest trade on the TSX Venture. And the average monthly return of those stocks was an impressive 12.8% — not far at all from the S&P/TSX Venture Composite Index performance in the last 4 weeks.
Minerals Explorers Reign in October
Natural resource exploration companies showed the best returns this month. See the chart below.
Even a coal company registered triple-digit returns. It might be the first time in Stock Challenge history a coal stock is among the top 10 performing stocks, let alone the top 3. The surge was obviously in connection with a coal supply crunch, which now appears to be easing. So, in all likelihood, just another one-hit wonder…or is it?
Final Top 10 Leaderboard
Staying on the theme of natural resource companies, Canadian precious and base metals explorer, Emerita Resources Corp., is this month’s kingmaker. Take a look at the final leaderboard:
Emerita’s stock price surged to its all-time high earlier this month. All 3 players that selected the junior make up the full suite of October’s prize winners.
Another notable from this month’s leaderboard is crypto. Crypto-based stocks are beginning to catch some wind in their sails again. Nothing quite like what we’ve observed in the past (yet), but the signs of upward momentum are certainly there. Companies like Galaxy Digital, Bit Digital and Bluesky Digital are all up more than 55% in the last month alone.
As indicated in our mid-month update, October’s story has been one of getting behind gold, silver and other inflation hedges such as crypto. It has also shed some light on the current sentiment towards metals and other minerals that will support the clean energy industry for years to come. We just wrote a detailed piece explaining how Canada stands to benefit from both of these trends. Click here to read it if you haven’t done so already.
All the best with your investments,