Business & Investment

Three Cheap Canadian Stocks To Buy In Recent Withdrawals

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The stock market has been volatile in the last two days as cases of COVID-19 by a new variant, Omicron, are resurrected around the world. NS S & P / TSX Comprehensive Index It has fallen by more than 2% in the last two trading days. Despite the revision, the Benchmark Index is trading 0.5% higher this month.

However, the following three Canadian stocks witnessed a significant sellout this month, losing more than 10% of their share price. On the other hand, abrupt revisions provide an excellent entry point given the sound growth prospects of long-term investors.

Nuvey

At the beginning of my list Nuvey (TSX: NVEI)(NASDAQ: NVEI), Losing more than 17% of its share price this month, down 31.8% from its September highs. Concerns over its high valuation seem to have lowered the stock. However, its growth outlook looks sound. With the expansion of online shopping, digital transactions are becoming more and more popular, benefiting Nuvei, a provider of electronic payment services.

Meanwhile, Nuvei is also working on innovative products, expanding its geographical presence and strategic acquisitions to drive growth. Through Faster Payments and Instant SEPA technology, we are strengthening our position in the UK and Europe respectively. We have also recently obtained a license to serve online betting and iGaming operators in Connecticut, Louisiana and Arizona. In addition, through the recent acquisition of Simplex, the company provides the infrastructure for clients to trade using over 45 cryptocurrencies and non-fungible tokens.

Therefore, given its multiple growth factors and the sharp revision of stock prices, Bullish on Nuvei..

Good food market

Good food market (TSX: FOOD) This month we lost nearly 40% of our stock price.weak Third Quarter Revenue And investor skepticism about growth prospects amid the resumption of the economy has lowered stock prices. In the midst of a sharp revision, the company is trading with an attractive valuation, with a multiple of the forward price of 0.9.

However, given its sound growth outlook, investors will need to take advantage of sharp pullbacks to accumulate stocks in order to get higher returns over the next three years. Given the convenience and accessibility of online shopping, we expect demand for Good Food Market services to continue into the post-pandemic period. Meanwhile, the company plans to build 13 fulfillment facilities across Canada to increase delivery speeds. We are also expanding our product offerings, entering new markets and increasing our production capacity to drive growth.

Light speed commerce

this month, Light speed commerce (TSX: LSPD)(NYSE: LSPD) We lost more than 43% of our share price amid rising net losses and sluggish outlook. In the second quarter of the recently announced 2022 fiscal year, the company’s net loss increased from US $ 19.5 million to US $ 59.1 million. In addition, the company’s management has weakened this year’s guidance as supply chain issues continue. Despite short-term challenges, the company’s long-term growth outlook looks sound.

Increasing adoption of online shopping has created multi-year growth opportunities for Lightspeed Commerce. Total transaction value in the second quarter increased by 123% to US $ 18.8 billion, and the total number of customer locations increased to 156,000. In addition, we are expanding our services to new markets and focusing on launching innovative new products to increase our customer base and average revenue per customer. With US $ 1.2 billion in cash and cash equivalents, the company is well equipped to support growth initiatives and future acquisitions. Therefore, given its sound outlook, Lightspeed Commerce expects to outperform over the next three years.

Three Cheap Canadian Stocks To Buy In Recent Withdrawals

https://www.fool.ca/2021/11/30/3-cheap-canadian-stocks-to-buy-amid-the-recent-pullback/ Three Cheap Canadian Stocks To Buy In Recent Withdrawals

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