Tuesday, January 31, 2023
  • Home
  • News
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
  • Disclaimer
  • DMCA Notice
  • Contact
No Result
View All Result
No Result
View All Result
Home News

Why Goodfood Stock Recovered 12% on Wednesday

by Editor
March 16, 2022
in News
3 Shares to Purchase for Triple-Digit Good points within the Subsequent 5 Years

Image source: Getty Images

Goodfood Marketplace (TSX:FOOD) shares recovered 12% on Wednesday, with the meal-kit delivery service seeing shares comeback from 52-week lows.

What happened?

Goodfood stock seems to be flipping back and forth over the last week, gaining 12%, losing it, and gaining it back once more. And unfortunately, it really doesn’t have much to do with what the company has been doing lately.

Most recently, Goodfood stock seems to have experienced a solid recovery after hitting 52-week lows, followed by a stronger market sentiment. The Asia-Pacific markets came out strong on Wednesday, leading to growth in many areas of the market. This positive outlook led to investors wanting in on these potential growth stocks once more.

So what?

While it’s important to note that there haven’t been any developments for Goodfood stock, it’s not that you should ignore it altogether. In the case of this company, analysts continue to weigh in on the stock. Most recently, two analysts announced target prices for Goodfood at $3 and $4.25. Both prices are far higher than the current $2.30.

That being said, many investors (me included) have been burned in the past. True, no one could have predicted the Ukraine crisis that now hurts the market. However, we couldn’t have predicted the pandemic growing the stock either.

Now what?

Goodfood stock may see growth eventually, hitting those targets by analysts. But it’s going to take some time. The pandemic isn’t over, but, unfortunately for the company, many Canadians don’t see the purchase of a Goodfood meal kit as necessary anymore. Instead, they’re heading back to in-store shopping or even picking up their groceries online.

Goodfood stock does have a few tricks up its sleeve, rolling out on-demand delivery across the country, with even more options and fulfillment centres. But only time will tell how much this will help. For now, even after this growth, I’d recommend watching the company from a safe distance.

Goodfood stock is up 11.5% as of writing, trading at 2.59 times book value.

ShareTweetShare

Related Posts

2 Growth Stocks to Buy and Hold Forever
News

3 Canadian Stocks to Buy That Could be Massive Long-Term Winners

October 13, 2022
Can You Retire a Millionaire by Just Investing in the S&P 500?
News

Can You Retire a Millionaire by Just Investing in the S&P 500?

March 27, 2022
Yes, Canada Has a Housing Affordability Crisis. Is It the Federal Government’s Fault?
News

Yes, Canada Has a Housing Affordability Crisis. Is It the Federal Government’s Fault?

March 27, 2022
21 Toronto Condo Launches You Need to Know About This Spring
News

21 Toronto Condo Launches You Need to Know About This Spring

March 27, 2022
“Slightly More Balanced Market” On the Way For the GTA This Spring
News

“Slightly More Balanced Market” On the Way For the GTA This Spring

March 27, 2022
New Ontario Data Standard Will “Even the Playing Field” For Housing Development Approvals
News

New Ontario Data Standard Will “Even the Playing Field” For Housing Development Approvals

March 26, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Most Read

Housing Market Created Good Alternative for Buyers with A number of Properties

Nearly $30 Billion in GTA Housing Linked to Money Laundering

November 18, 2021
How  Canadians can Protect their Money From Inflation

How Canadians can Protect their Money From Inflation

November 30, 2021
That is How A lot it Prices for a Household of 4 to ‘Thrive’ within the GTA

Are Investors the Cause, or Just the Blame, Behind Ontario’s Outrageous Housing Market?

November 26, 2021
A Transformation is on the Horizon for Toronto’s Jane and Finch Neighbourhood

A Transformation is on the Horizon for Toronto’s Jane and Finch Neighbourhood

November 12, 2021
Today’s Housing Market Looks a Lot Like 2017’s… That Should Worry Everyone

Today’s Housing Market Looks a Lot Like 2017’s… That Should Worry Everyone

February 16, 2022
Canadian Start-Up Aims to Deliver Flexible Payment Options for Renters

Canadian Start-Up Aims to Deliver Flexible Payment Options for Renters

January 22, 2022
  • Home
  • News
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
  • Disclaimer
  • DMCA Notice
  • Contact

Copyright © 2021 The Canadian Investor | All Rights Reserved

No Result
View All Result
  • Home
  • News
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
  • Disclaimer
  • DMCA Notice
  • Contact

Copyright © 2021 The Canadian Investor | All Rights Reserved