Investors got a bit of a scare when stock markets fell over inflation fears. Some worried about the fallout over the Evergrande fiasco in China. But stocks got over it and the rally was back on with new all-time highs. These are the top 15 stocks users looked up on Yahoo Finance Canada in October.
Electric car maker Tesla’s stock recently topped $1,000 share and became a trillion-dollar company, helping to solidify Elon Musk's place atop the world’s richest people. A string of positive news helped give the shares a boost, including an order of 100,000 Teslas from rental-car company Hertz.
Suncor’s plan to double its payout to shareholders on the heels of a strong quarter boosted by higher oil prices sent the company's stock to its highest level since June. One analyst called the latest financial results a turning point for a stock that’s lagged its peers during the oil price run up.
Reddit favourite AMC’s shares have been trading relatively sideways after a huge run-up earlier in the year. Yahoo Finance Canada readers seem to be losing a little bit of interest in this meme stock; visits to its stock quote page were down 39 per cent month over month.
There’s been a huge surge in air travel, up more than 24 per cent as restrictions ease. But investors might be surprised to see Air Canada’s stock price hasn’t taken off. The COVID-19 pandemic has also created an opportunity for smaller airlines to make gains in the Canadian market.
Oil producer Camber Energy’s shares plummeted after becoming the target of a short seller’s attack. Kerrisdale Capital said “Camber is a defunct oil producer that has failed to file financial statements with the SEC since September 2020, is in danger of having its stock delisted next month,” in its report. The company responded to the report in a release saying, "our business relationships are legitimate and that we are firmly committed to improving the organization's capitalization and executing on our growth strategy."
Lightspeed also found itself in the crosshairs of a short seller. Spruce Point Capital claimed Lightspeed isn’t transparent about competitive pressures and gives investors too little information to understand organic growth. It also accuses Lightspeed of inflating customer numbers. The company called the claims false.
Apple shares fell after reporting weaker than expected fourth-quarter revenue. CEO Tim Cook blamed supply constraints. The share price drop resulted in Microsoft taking over the title of world’s most valuable publicly traded company.
Shares of Digital World Acquisition, the blank check company planning to take former President Trump's new social media venture public, fell 25 per cent in the span of two days. But early investors need not fret, they have been up as much as 800 per cent.
This might be the last time Facebook and this ticker will appear on this list. The social media company has changed its name to Meta, and the new ticker is MVRS which will go into use Dec. 1.
The original meme stock has been relatively quiet in terms of its share price. GameStop used to be a mainstay at the top of this list but like AMC, interest from readers has dropped.
The TSX has been on quite a run as of late, although last week breaking a 14 day winning streak. The resource sector stock benchmark has been rewarded by higher commodity prices.
Bitcoin took another step toward the mainstream with the launch of a long-awaited ETF on the New York Stock Exchange. Canada already has several. Many securities with the world blockchain in their names, including HIVE Blockchain Technologies, have gone along for the ride.
Like Hive Blockchain technologies, Canadian bitcoin mining company Hut 8 Mining is benefiting from the bitcoin rally. Its shares jumped 13 per cent in a single day.
BlackBerry’s turnaround plan continues to unfold. It became a Reddit favourite and the stock has been up as much as 69 per cent year to date.
NIO designs, develops, manufactures, and sells smart electric vehicles in China. Unlike Tesla, the stock has been a disappointment for investors. They will get their next look at the state of the company's financials when ti files third quarter results on Nov. 9.
Jessy Bains is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jessysbains.