The S&P/TSX Composite Index was up 31 points in mid-morning trading on February 9. Technology and health care led the way on the Canadian market. Both sectors have proven explosive over the past year. Moreover, the eruption in Bitcoin’s price following Elon Musk’s big bet have had a significant impact. Today, I want to look at the best TSX stocks under $10 to snag in your portfolio. Let’s dive in.
Two super TSX stocks in the healthcare space
This morning, I’d discussed why WELL Health Technologies (TSX:WELL) stock spiked in yesterday’s trading session. Its shares were up marginally in late-morning trading at the time of this writing. WELL Health stock has climbed 375% year over year. The stock was trading just below the $9 mark on February 9.
WELL Health’s revenues and profit have soared on the back of the growth of telehealth. Healthcare consultations via digital channels have increased during the COVID-19 pandemic. Moreover, the company bolstered its U.S. exposure with hits recent acquisition of CRH Medical. It is worth picking up for investors on the hunt for long-term TSX stocks.
AEterna Zentaris (TSX:AEZS)(NASDAQ:AEZS) is another healthcare TSX stock on a roll. This specialty biopharmaceutical company is engaged in developing and commercializing pharmaceutical therapies for treating oncology and endocrinology. Its shares have climbed 687% in 2021 at the time of this writing.
Canada has attracted criticism for its inability to secure adequate vaccine deliveries for its citizens. AEterna Zentaris holds some hope for Canada’s domestic development. Earlier this month, the company signed an agreement with Julius-Maximilians-University Wuerzburg, Germany, to analyze its preclinical potential COVID-19 vaccine. Shares of AEterna dropped 26% on February 9. That puts the stock just over the $3 mark.
This stock is rising as Canadian sports betting picks up steam
The promise of legalized sports betting in the United States thrust gaming stocks into the spotlight in 2019. Now, Canada is gearing up to join the fray. There is currently government-backed legislation awaiting passage in Ottawa that would end the prohibition on single-game sports betting in Canada.
Score Media is poised to be a big beneficiary if legal sports betting goes through. It operates as a sports media company in North America. Shares of this TSX stock have climbed nearly 500% over the past three months. Its sports-betting app is closely tied to its sports media app. Executives at Score believes this gives them an advantage over competitors like DraftKings and FanDuel.
These TSX stocks are soaring with Bitcoin and other cryptos
The rise of Bitcoin and its peers in the cryptocurrency space has also sparked a run for many top stocks on the TSX. HIVE Blockchain and Hut 8 Mining stocks have erupted over the past six months. Shares of HIVE Blockchain have climbed over 900% year over year. Meanwhile, Hut 8 Mining has increased 378% from the prior year. Elon Musk’s $1.5 billion bet on Bitcoin has lent even more legitimacy to the top digital currency. Crypto mining companies like HIVE Blockchain and Hut 8 will continue to build momentum in this crypto bull market.
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 Ambrose O'Callaghan has no position in any of the stocks mentioned. The Motley Fool owns shares of CRH Medical.