The Globe’s stars and dogs for the week

The Globe’s stars and dogs for the week

Chewy (STAR)

Pandemic pets aren’t just good for our mental health. They’re good for our financial well-being, too. Just ask a Chewy Inc. investor: With more people adopting animals and showering them with treats and toys, the U.S. online pet products retailer recently posted a 45-per-cent surge in revenue to US$1.78-billion for its third quarter ended Nov. 1. The shares gained more ground this week after RBC Capital Markets reiterated an “outperform” rating and hiked its price target to US$113 from US$85, citing the company’s “large and attractive opportunity” and “very compelling value proposition for pet parents and suppliers.” Who’s a good boy, Chewy?


The RealReal (STAR)

What’s the deal with the RealReal? Shares of the luxury consignment website – where consumers buy and sell designer clothing, jewellery, handbags, shoes and other used items – have more than tripled from their March low. And Wall Street thinks there’s more to come: This week, Piper Sandler initiated coverage of the shares with an overweight rating, saying it is “optimistic that closet clean-outs should rebound post vaccine, which should support supply and in turn meet demand” on RealReal Inc.’s site and in its stores. Hey, anyone interested in a pair of previously loved Nikes with a small hole in the toe? Open to offers.

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REAL – Nasdaq

Boston Pizza Royalties Income Fund (STAR)

A special distribution from a restaurant stock? In the middle of a pandemic? Boston Pizza Royalties Income Fund investors must have been pinching themselves after the dining chain – which had suspended monthly distributions in March before resuming them at a reduced rate in October – announced a special cash payment of 20 cents a unit, in addition to its December distribution of 6.5 cents. The fund cited, among other factors, its cash position, debt obligations, financial projections and the fact that it would face a higher effective tax rate if it didn’t distribute sufficient cash in 2020. Investors are grabbing a slice.


Rite Aid (STAR)

Business quiz! Shares of Rite Aid Corp. surged after the U.S. pharmacy chain: a) was chosen as the National Football League’s official supplier of COVID-19 tests; b) received a US$2-billion takeover offer from Loblaw Cos. Ltd., which plans to rebrand Rite Aid stores under its Shoppers Drug Mart banner; c) reported better-than-expected adjusted earnings of US$21.6-million, as higher pharmacy sales and flu immunizations helped to drive a 12-per-cent increase in revenue for the third quarter. Answer: c.


Tilray (STAR)

The good news for Tilray Inc. investors is that the stock jumped this week. The bad news? It’s still down more than 90 per cent from its high in the fall of 2018 – remember, when marijuana stocks were going to make everyone rich? Shares of the Nanaimo, B.C.-based cannabis producer rose after it announced a merger with Leamington, Ont.-based Aphria Inc. in an all-stock deal to create the world’s largest marijuana company based on sales. Aphria’s shares also got a brief lift from Wednesday’s announcement, but they’re still down more than 50 per cent from their 2018 high. Time to spark up a joint and remember the good old days.

TLRY – Nasdaq

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A humorous look at the companies that caught our eye, for better or worse, this week

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Published at Fri, 18 Dec 2020 23:00:30 +0000

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Written by Riel Roussopoulos


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