Now that 2017 has come to a close, it’s time to look back at the stock picks that I made this year to see how I did. Whether good or bad, I like to have an honest review of how my stocks did, so I can see what went right and what didn’t.
Below are the five picks I made this year and their results.
Cenovus Energy Inc. (TSX: CVE)(NYSE: CVE) was the very first stock pick I made back in August. On the first trading day of August, the stock closed at $10.15, which I’ll use as my starting point. Since that time, the stock price has reached a high of over $14 before dropping back down to $11.48 to finish the year.
Although the price has declined, that pick would have netted a nice return of over 13%.
With the price of oil continuing to rise, and OPEC agreeing to extend cuts, this is definitely a stock I would hang on to, as there is certainly potential for it to continue to rise.
I took a bit of a safer pick in September when I went with Canadian Imperial Bank of Commerce (TSX: CM)(NYSE: CM). Since then, the stock has risen 17% and finished the year above $122. The bank had been having a difficult year up until that point, and its recovery was overdue.
CIBC offers investors a great 4% yield that will continue to grow, and that makes the stock a great long-term buy.
In October, Open Text Corp. (TSX: OTEX)(NASDAQ: OTEX) was my pick for the month, as the stock came off a 52-week low. The share price has seen some fluctuations since October, but a late push at the end of the year has the share price up 11% since when I made the selection.
The company’s most recent quarter saw strong top-line growth, and what I like most about the company is that it has a great deal of recurring revenue thanks in part to a lot of service and subscription-related sales. The stock provides investors with lots of stability, and it’s still a great investment to hold on to in 2018.
Aphria Inc. (TSX:APH) was my stock selection for November, and boy did it do well. Since then, the share price has increased 143%, as other cannabis stocks have also done tremendously well in the past few months. What I like most about Aphria is its leadership and that its business focuses on profitability and not just growth.
However, had I bought the stock back in November, I’d considering selling it at its astronomical valuation today. I don’t anticipate the stock can continue this incredible pace, and if you’ve made a good profit on it, you may want to consider cashing out.
Sierra Wireless, Inc. (TSX: SW)(NASDAQ: SWIR) rounds out my final pick for 2017, and it’s been the only one to disappoint thus far. Although it’s only been a month, the share price has tanked 12% since the start of December. It has only been a month, so there is still time for the stock to recover.
The Internet of Things industry is an exciting one that has lot of growth potential, and Sierra’s stock could see a lot of upside as a result of that.
