Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.The dollar index, which tracks the dollar against a basket of six major currencies, was up 0.357% at 95.903, close to its 16-month high of 96.266 hit on Wednesday. The Motley Fool recommends BlackBerry, OPEN TEXT CORP, and Open Text and recommends the following options: long January 2023 $1,140 calls on Shopify and short January 2023 $1,160 calls on Shopify. The Motley Fool owns shares of and recommends Lightspeed POS Inc and Shopify. This 1-Week Prediction of BlackBerry (TSX:BB) Might Surprise Youīuilding a Portfolio? Start With These 3 Stocks The 4 Best Canadian Stocks to Buy Now Under $30 These are 5 Canadian stocks that we think are screaming buys today.
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We are giving away a FREE copy of our " 5 Small-Cap Canadian Growth Stocks Under $5" report. Want to buy even CHEAPER HIGH-GROWTH STOCKS? Here’s a FREE LIST for you: The post Forget Reddit Stocks: Buy These 3 Unbeatable TSX Tech Stocks Instead appeared first on The Motley Fool Canada. Long-term investors can buy its stock right now before it starts rallying again. The shares of Open Text have also underperformed the broader market this year and trading with just 4.3% year-to-date gains. Analysts expect the company’s adjusted net profit margin to expand to 27.2% in the fiscal year 2021 compared to 25.2% in the fiscal year 2020.
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Its information management solutions help companies gain business insights and take the right decisions at the right time.ĭespite COVID-19-related challenges, the demand for Open Text’s software solutions remained stable, as its revenues have consistently been rising for the last seven quarters in a row. Open Text (TSX:OTEX)(NASDAQ:OTEX) is a Waterloo-based enterprise software company.
While the company’s near-term sales growth may slow a bit in the coming quarters, its long-term financial growth outlook remains solid. Its subscription solutions sales rose by 71%, and merchant solutions sales jumped by 137% YoY for the quarter. Shopify registered 110% YoY (year-over-year) growth in its revenue in the first quarter. The stock is currently trading with 8% year-to-date gains - much lower compared to more than 15% gains in the TSX Composite Index. Despite the ongoing strong trend in its financials, its stock has underperformed the broader market in 2021 so far. Shopify (TSX:SHOP)(NYSE:SHOP) is another tech stock that you may consider adding to your portfolio right now. Its sales growth rate is expected to increase further as analysts expect its sales to more than double in the ongoing fiscal year. In its fiscal year 2021 (ended in March 2021), Lightspeed’s revenue rose by 84% compared to the previous fiscal year. These solutions make it easier for businesses to sell their products online, manage operations, engage with consumers, and accept payments. Lightspeed mainly focuses on providing its cloud-based, omnichannel commerce platform to small- and medium-sized businesses. The stock hasn’t seen much appreciation this year, as it’s currently trading with only 0.3% year-to-date gains after posting solid 149% gains last year. Lightspeed POS (TSX:LSPD)(NYSE:LSPD) stock is one of my favourite Canadian tech stocks to buy right now. Here are three Canadian tech stocks with solid fundamentals that you can buy today. Fundamentally strong stocks could even beat most of these Reddit stocks in the long term, I believe. They can buy some cheap stocks with good fundamentals for the long term to get handsome returns. However, it doesn’t mean small retail investors shouldn’t expect good returns. It certainly isn’t something that retail investors with low to medium risk appetites should consider. The users of this subreddit apparently tried to go against institutional short-sellers and started consistently buying the stocks of selected companies - triggering a sharp rally.īut the recent sharp drop in these Reddit stocks once again demonstrated why buying stocks based on Reddit trading frenzy is too risky. The rally in these stocks picked pace earlier this year after being widely discussed on Reddit’s WallStreetBets group. Unfortunately, the rally in most of these Reddit stocks has seemingly run out of steam for now, as most of these stocks saw sharp losses in the last few sessions. A handful of stocks like BlackBerry, GameStop, AMC Entertainment, and Clover Health saw a sharp rally earlier this month.
The recent massive rally in some meme stocks has become one of the hottest topics among stock investors lately.
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