These Were the Worst-Performing Stocks on the TSX Last Week

The S&P/TSX Composite Index finished the week of July 8-12 down 0.33%, well below the weekly performance of the S&P 500, which was up 0.23%. More importantly, both the S&P 500 and Dow set all-time records.

| More on:

The S&P/TSX Composite Index finished the week of July 8-12 down 0.33%, well below the weekly performance of the S&P 500, which was up 0.23%. More importantly, both the S&P 500 and Dow set all-time records. 

Here in Canada, the Bank of Canada let it be known that it is going to hold the line on interest rates, unlike in the U.S., which looks to cut the key rate at the end of July.

It was a crazy week for cannabis stocks, while energy stocks and the Canadian dollar jumped on rising oil prices. 

These were three of the worst-performing stocks on the TSX last week. 

CannTrust

The Toronto-based cannabis producer CannTrust (TSX:TRST)(NYSE:CTST) saw its shares fall by 48.3% on the week, as rumours circulated that it could lose its licence to grow pot. 

Early in the week, CannTrust revealed that its Pelham, Ontario, greenhouse was non-compliant in the eyes of Canadian regulators who found in an unannounced inspection that the company was growing cannabis in unlicensed rooms. It was also found to be providing false statements to Health Canada and keeping inadequate records.

As a result of the regulatory problems, CannTrust has halted the sale and shipment of all product until Health Canada can inspect its other facility in Vaughn, Ontario. 

CannTrust stock has fallen for seven straight sessions. As a result of its demise, the Marijuana Life Sciences Index lost 5% in Friday’s trading. 

Bausch Health

Bausch Health (TSX:BHC)(NYSE:BHC), the manufacturer of eye care products, including contact lenses, saw its shares fall 7% on the week. 

It’s unknown what caused the stock to lose 7% on the week. There wasn’t any specific news to cause it to drop by so much in a week that was relatively calm except for the CannTrust issues. 

Generally a volatile stock, Bausch announced the week before last that it would announce its second-quarter results August 6. If BHC stock is to continue to recover, investors will want to see more progress as it continues its transformation.

In terms of good news, Bausch Health announced July 9 that it had launched Ocuvite Eye Performance vitamins in the U.S. The supplement is intended to strengthen the macula.   

Tucows

The internet domain registration company Tucows (TSX:TU)(NASDAQ:TCX), which also operates Ting Mobile in the U.S., lost 18.7% last week. 

The company announced that it would add service over the Verizon network, extend its agreement with Sprint, and end its contract with T-Mobile.

In the short term, these moves will reduce Tucows’s profitability due to carrier migration costs, excess carrier penalties, and Ting Mobile’s underperformance. 

Long term, the analysts that cover it are generally positive about its future. It might be a good time to buy on the pullback.  

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Will Ashworth has no position in any stocks mentioned. Tom Gardner owns shares of Tucows. The Motley Fool owns shares of Tucows and TUCOWS INC. Tucows and Verizon are recommendations of Stock Advisor Canada.

More on Investing

man shops in a drugstore
Dividend Stocks

1 Dividend Stock to Buy if the CRA Tightens TFSA Rules

If there's one thing we all need, it's food. And that's why this dividend stock is a perfect investment.

Read more »

Safety helmets and gloves hang from a rack on a mining site.
Energy Stocks

Suncor Versus Canadian Natural Resources: The Energy Stock I’d Buy on Climbing Oil

These two powerhouse energy stocks deserve attention, so let's get into them.

Read more »

Canada Day fireworks over two Adirondack chairs on the wooden dock in Ontario, Canada
Tech Stocks

Why This Tech Stock Could Be the Next Shopify

This offshoot of Constellation Software is becoming a powerhouse all on its own.

Read more »

space ship model takes off
Dividend Stocks

2 Canadian Stocks That Could Sky Rocket With a Rate Cut

Having trouble sleeping at night over your investments? Then consider these two for a passive income portfolio.

Read more »

Happy golf player walks the course
Dividend Stocks

This 7% Monthly Dividend Stock Could Be Your Secret to Early Retirement

Listen up, you could have an early retirement with this monthly dividend stock, and consistency!

Read more »

Blocks conceptualizing Canada's Tax Free Savings Account
Dividend Stocks

This 7.1% Monthly Payer Could Save Any TFSA During Market Chaos

With markets acting out of control, this dividend stock is in a prime position.

Read more »

A meter measures energy use.
Dividend Stocks

Buy the Dip: 1 Utility Stock That’s a Steal After Dropping 22%

This utility stock has had a wild ride, but now might be the time to consider it once again.

Read more »

how to save money
Energy Stocks

BCE: Buy, Sell, or Hold in July 2025?

BCE stock sits 15% below its March peak, but U.S. fibre strategic deals and a de-risked dividend seem appealing at…

Read more »