Only two weeks into the month and already a few tidbits of intel for the curious investor…
The first and most evident takeaway is Lithium. Two of the top three leaders thus far have a lithium stock as one of their two picks. And, all but one of the handful of lithium stocks selected this month are up between 10% and 85%. Take a look at the leaderboard below:
Another standout performer from the snapshot above (don’t say we didn’t warn you) is crypto stocks. More than a dozen crypto stocks were selected this month, with those stocks averaging about a 15% return so far. The market is so bullish on crypto right now that one company’s CEO believes that Bitcoin is “going up forever”, and added 9,000 bitcoins to his company’s balance sheet just last quarter.
Although it’s not plain to see from the leaderboard, it looks like pot stocks are back on a roll (finally!). Check out the top performing stocks so far:
Chemesis is a U.S.-focused multi-state cannabis company working on providing AI-based retail solutions to the market. Its stock popped from an all-time low of roughly 10 cents to approximately double its value in the first two weeks of the month.
Seniors such as High Tide, Sundial, Tilray and Aurora – all selected in this round – are up 20% or more so far. In fact, all but one of the selected weed stocks have returned double-digit gains so far this month.
Knowing how much the market pounces on news of impending legalization, the leaked federal legalization bill in the U.S. must have triggered the recent weed buzz.
Not only is the TSX Venture the most popular with November’s Stock Challengers, but the Venture’s stocks are also, once again, outperforming all other represented exchanges in this month’s Stock Challenge. Check this out…
CSE stocks are also looking good for Stock Challengers. We’ll see how it ends, but for now, Canada’s small/micro cap exchanges are dominating November’s Stock Challenge. The combined average return from TSXV and CSE stocks in this month’s contest is about 50% better than the average returns of all the other represented exchanges combined.
The Stock Challenge Index (SCI)
Finally, as you might have guessed, the SCI is currently net positive. It took a dip from October’s closing early on in the month but got back up last Friday, and looks to be holding pretty steady for now.
It’s a tough call for November. The fact we’re seeing triple-digit returns this early in the round means this contest is wide open. It wouldn’t surprise us at all to see a wildly different leaderboard by the end of the month…so, fasten your seatbelts!
There are 2 weeks left to sign up for the last Stock Challenge round of the year. Get in before it’s too late.