Cannabis stocks are having a bumpy ride as the U.S. House of Representatives toys with the possibility of marijuana legalization. Canopy Growth Corp. stock fell -8.66% last week.

Stock surges and setbacks for the week ending April 8, 2022.

WINNERS

Avalon Advanced Materials Inc. (+42.37%)

Shares of this Canadian mineral development company soared last week when the Ontario government announced it will partner with Avalon to establish the province’s first regional lithium battery materials refinery in Thunder Bay. That brings the company’s number of advanced-stage projects to four, all providing investors with exposure to much-coveted lithium and tin, among other minerals.

Dominion Lending Centres Inc. (+15.75%)

Investors welcomed Dominion Lending Centres to the Toronto Stock Exchange with a boost in its stock price. The Calgary-based mortgage company, which connects aspiring homebuyers with mortgage brokers, recently reported strong year-end results for 2021.

Roots Corp. (+14.46%)

The Toronto-based clothing retailer beat expectations with the release of its closing quarter results for 2021, with net profits increasing 47 per cent from the same period a year ago. Roots says it earned $18.1 million in the quarter, up from $12.3 million a year earlier.

LOSERS

Canopy Growth Corp. (-8.66%)

Cannabis stocks are having a bumpy ride as the U.S. House of Representatives toys with the possibility of marijuana legalization. Shares fell after a few committee meetings were postponed last week.

The Bitcoin Fund CAD (-7.63%)

There’s never a dull moment in the world of cryptocurrency. The past week came with some tough news: Ben McKenzie, the star of glorious teen soap opera “The O.C.” has waged a crusade against the currency, and a reporter in El Salvador, which adopted bitcoin as its national currency, saysusing the coin to pay for things is a total, utter nightmare.

Transat A.T. Inc. (-5.68%)

Uncertainty around a new wave of COVID-19 has some investors fearful of what’s in store for some of Canada’s tour operators. Transat A.T., headquartered in Montreal, saw its shares fall last week after an otherwise prosperous March.

JOIN THE CONVERSATION

Conversations are opinions of our readers and are subject to the Code of Conduct. The Star does not endorse these opinions.

More from The Star & Partners