It’s time like these that many investors might be looking back at when the market was a golden place to be. While the pandemic was absolutely terrible, it did leave many with extra cash on their hands from stay-at-home orders.
This cash led many to put it into the market and take advantage of even more growth. Thanks to this, there were many companies that rose to incredible heights. However, many of these companies went through a period of volatility, with some never coming back.
Today, however, we’re going to focus on the positive. Let’s look at two pandemic stocks that are still rising. From there, we’ll look at a company now offering the potential for a major deal on the TSX today.
Rising stocks
When it came to the pandemic, there were two companies that surged higher and higher. And while each went through a period of weakness afterward, they’ve come back to major strength. Those companies are goeasy (TSX:GSY) and Shopify (TSX:SHOP).
goeasy stock saw its shares rise for two reasons. First, there was taking out loans and mortgages at some of the lowest interest rates around. All while there was enormous demand for housing. From there, it also was able to take advantage of Canadians taking out loans for home renovations.
This left goeasy stock in a strong position. And you’d think that higher interest rates would lead to shares falling, but not so. Instead, goeasy stock has seen many come to the company for the best deal for the loans they need to take out. And that has left the company achieving record loan originations quarter after quarter.
As for Shopify stock, it was a bit trickier. Shopify stock expanded too much, too soon. While its retail sales and new merchant subscriptions were soaring, it used the cash to try and be the next global retailer. This means expanding into fulfillment networks and shipping as well.
However, the company learned its lesson. The fulfillment network was sold. Shopify stock strengthened its bottom line. It’s now focusing back on where it first struck gold: small and medium merchants, with the ability to expand for enterprise clients.
Now, the company may not be at all-time highs, but it’s back in three-digit territory. And that’s been great news for investors who have seen shares come down so low.
A stock offering a deal
Now, not all pandemic stocks have come back. In fact, I’d say most didn’t — especially when it came to tech stocks, growth stocks, and healthcare stocks. This is why a company such as WELL Health Technologies (TSX:WELL) has fallen so low.
In fact, WELL stock is now at 52-week lows. The company has seen shares drop, even as it continues to report record revenue over and over. And while it continues to see both organic growth and growth through acquisitions.
However, investors may believe that the company is trying to get into every area of healthcare tech. Instead, it should mainly focus on its electronic medical filing systems and virtual healthcare. This is where it, too, struck gold.
So, keep an eye on this stock. After missing estimates after two quarters, the fourth quarter came out swinging. And with first-quarter results around the corner, we could see a climb from this once great growth stock.
