Buzz on the Bullboards: Stocks to watch in volatile times.

This week, Canada’s main stock index, the TSX, hit another record high, supported by strong retail sales data and positive investor sentiment. However, the index quickly fell from grace following U.S. President-elect Donald Trump’s announcement of significant tariffs on major U.S. trading partners, including Canada.

This move has negatively impacted investor confidence, causing a ripple effect across the markets. Despite the broader market turbulence, several TSX-listed companies have made headlines this week. Here’s a closer look at three stocks that investors should keep an eye on:

Canopy Growth (TSX:WEED, Forum), a leading global cannabis company, announced that board member Luc Mongeau will take over as CEO effective January 6, 2025. Mongeau, a Harvard Business School graduate, has a robust background in consumer-packaged goods, with notable tenures as CEO of ESolutions Furniture, President of Weston Foods, and President of Mars Petcare North America.

Since joining Canopy’s board in early 2023, Mongeau has been instrumental in steering the company towards asset-light expansion and near-term profitability. Canopy Growth is known for its diverse portfolio of brands, including Doja, Wana, Jetty Extracts, and Tweed.

Canopy Growth stock (TSX:WEED) has fallen 21.63 per cent over the past three months and is down 19.08 per cent since the beginning of the year, last trading at C$5.47.

PyroGenesis (TSX:PYR, Forum), an industrial company focused on decarbonizing heavy industry, has secured a C$2.8 million payment under its C$25 million aluminum recovery contract with Radian Oil and Gas Services Company.

The contract involves the manufacture and delivery of seven Drosrite aluminum dross recovery systems to its Saudi client. Three of these systems are already operational at the Ma’aden aluminum plant in Ras Al-Khair, Saudi Arabia, the largest vertically integrated aluminum complex in the world. PyroGenesis’ Drosrite technology offers 98 per cent aluminum recovery, significantly higher than traditional methods, while reducing operating expenses by 50 per cent.

PyroGenesis stock (TSX:PYR) last traded at $0.66 and though down 16.46 per cent in the past three months, it has climbed 53.49 per cent since the year began.

Sonoro Energy (TSXV:SNV, Forum) has signed a “heads of agreement” with IPR Energy Group, a Texas-based global energy company. This partnership aims to evaluate known oil accumulations expected to be made available through Iraqi government licensing bid rounds or direct negotiations.

Under the agreement, Sonoro and IPR will collaborate on a joint study to secure oil assets where significant production increases can be achieved through further field development and the application of advanced technologies. Initially, the focus will be on acquiring producing assets in Iraq. The agreement also lays the groundwork for expanding future collaboration across the Middle East and North Africa (MENA) region.

IPR Energy is responsible for discovering and developing new producing assets, with a significant operated and non-operated position in Egypt.

This is the second relationship announced by Sonoro this month in the region. The vompany is encouraged by the multiple opportunities being assessed, in addition to its independent activities in Western Canada.

A “heads of agreement” is the first step towards a fully binding contract, outlining the roles and responsibilities of the parties involved in a potential partnership before any formal documents are finalized.

Though down 35.29 per cent since the start of the year, Sonoro Energy stock (TSXV:SNV) has climbed 46.67 per cent over the past three months and last traded at $0.11.

Stocks to the thankful for

As the U.S. markets experience a shorter trading week due to Thanksgiving, the TSX might see a bit of a reprieve from the recent volatility. Investors should stay informed about market developments to ensure their portfolios remain well-positioned. Keeping an eye on key stocks like Canopy Growth, PyroGenesis, and Paramount Resources can provide valuable insights into potential investment opportunities.

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(Top image generated with AI.)