The S&P/TSX Composite Index fell 194 points on March 4. Canadian stocks succumbed to headwinds that have been generated by rising bond yields in North America. The top U.S. indexes also suffered retreats on the same trading day. Investors should exercise caution in this volatile environment. Today, I want to look at three TSX stocks under $10 that are worth consideration. Let’s dive in.
This fintech stock has climbed and fallen on the back of Bitcoin
Mogo (TSX:MOGO)(NASDAQ:MOGO) is a Vancouver-based financial technology company. The rise of fintech firms garnered significant attention in the early 2010s. However, the big banks took notice and invested in their digital platforms. Since then, fintech companies have had to differentiate themselves from the big banks in other ways.
Shares of Mogo dropped 10% on March 4. The stock is now priced at $9.03 at the time of this writing. It has fallen sharply since reaching an all-time high of $15 in late February. Mogo jumped into the cryptocurrency space a few years ago. In January, Mogo announced a 100% increase in new Bitcoin accounts. This fintech firm’s stock benefited greatly from bitcoin’s recent bull run. However, it is also being punished as the top digital currency slips.
This company is set to release its fourth-quarter and full-year 2020 results later this month. Its shares have slipped out of technically overbought territory due to this recent slide. This is a TSX stock worth watching going forward.
Why you should snag this TSX stock for the long term
When this year started, I’d discussed why Canadians should stash TSX stocks in the healthcare space. WELL Health (TSX:WELL) stock has climbed over 350% year over year as of close on March 4. This company owns and operates a portfolio of primary healthcare facilities. It has benefited in a big way from the rise of telehealth usage during the COVID-19 pandemic.
The recent bout of turbulence may provide a great opportunity to add WELL Health at a discount. Its stock fell 9.5% on March 4. WELL Health last closed at a price of $7.68. The company has attracted positive attention after its acquisition of CRH Medical. This will provide WELL Health with greater access to the lucrative U.S. healthcare market.
Canadians should look to stash this TSX stock for the long haul. Better yet, look to add shares at a discount if it suffers during this bout of volatility.
One more TSX stock under $10 to add today
Crescent Point Energy (TSX:CPG)(NYSE:CPG) is the last TSX stock under $10 I want to zero in on today. In late February, I’d recommended that Canadians jump into the energy sector as oil and gas prices surged. Shares of Crescent Point have shot up 67% in 2021 as of close on March 4. This TSX stock is up over 50% from the prior year.
This Calgary-based company explores, develops, and produces light and medium crude oil and natural gas reserves in Western Canada and the United States. Oil prices have continued to gain momentum as bond prices have increased. It is not too late to jump on the frenzy in the oil and gas sector. Crescent Point closed at $5.08 on March 4.
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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.