“Sell in May and go away” is a theme investors and stock traders know well, and during this quieter month of June ahead of summer, some public Canadian companies have been engaging in serious business.
This week, we saw the TSX hit a one-month low on a drop among resource stocks while the tech sector saw some growth.
One of the most significant events of the week was the Bank of Canada’s decision to trim its benchmark interest rate to 4.75 per cent. This move aims to stimulate economic activity in the face of sluggish growth.
Meanwhile, on Wall Street, the start of June has been uneven, though gains in the tech sector have provided some uplift, highlighting the sector’s resilience and continued investor confidence.
Users around Stockhouse’s Bullboard forums have been keeping tabs on this activity.
Edgewater Wireless Systems Inc. (TSXV:YFI, Forum) has been making headlines with its latest advancements in Wi-Fi technology. The company recently announced it has submitted a second patent application for its spectrum-slicing solution to the U.S. Patent and Trademark Office. This new patent introduces an artificial intelligence-based algorithm designed to enhance Edgewater Wireless’ spectrum-slicing capabilities.
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CEO Andrew Skafel said, “This patent application, the second in a series of applications, underscores Edgewater’s commitment to innovation and excellence in the ever-evolving realm of Wi-Fi technology.” The latest filing, identified as U.S. Patent Application No. 18/643,386 and International Application No. PCT/CA2024/050533, aims to optimize Wi-Fi channel health using an advanced algorithmic stack.
This new patent builds on the company’s existing portfolio of 26 patents, further cementing Edgewater Wireless as a leader in the Wi-Fi technology space. Investors and tech enthusiasts alike will find Edgewater’s commitment to innovation noteworthy as the company continues to push the boundaries of wireless communication technology.
In Canada’s healthcare sector, Theralase Technologies Inc. (TSXV:TLT, Forum) announced that its lead compound, Ruvidar, has demonstrated effectiveness in inactivating a variety of viruses. This breakthrough was achieved through research conducted at the University of Manitoba in collaboration with the National Microbiology Laboratory.
The findings, published in the peer-reviewed journal Heliyon, revealed that Ruvidar was effective against enveloped and non-enveloped viruses, particularly when light-activated. This discovery could have significant implications for future viral treatments, including potential applications in vaccine development.
In light of recent studies by the CDC highlighting the rising threat of avian influenza, Theralase’s research is particularly timely. The ability of Ruvidar to inactivate the spike protein of the coronavirus without destroying it suggests promising avenues for the development of vaccines.
Aviation stock Bombardier Inc. (TSX:BBD, Forum) gathered a lot of attention with its recent advancements in the aerospace and defence sectors. The company, through its subsidiary Bombardier Defense, rolled out the first aircraft under Germany’s Pegasus program ahead of the ILA Berlin airshow. This initiative, valued at more than 1 billion euros, involves collaboration with HENSOLDT and Lufthansa Technik Defense to integrate the Persistent German Airborne Surveillance System (Pegasus) on Bombardier’s Global 6000 aircraft.
This project marks a significant milestone for Bombardier, which has successfully modified the first aircraft at its Wichita, Kansas, facility. The aircraft is set to undergo ground testing before its first flight, with two more aircraft modifications to follow. Bombardier Defense’s revenue was approximately US$600 million in 2023, with projections to increase to between US$1 billion and US$1.5 billion by 2030, according to S&P Global.
This development underscores Bombardier’s growing influence in the defence sector and its capability to deliver cutting-edge surveillance solutions. Investors interested in aerospace and defence should watch Bombardier’s progress closely as it continues to expand its market footprint.
As the market navigates through the quieter summer months, these three Canadian public companies – Edgewater Wireless, Theralase and Bombardier – stand out for their recent advancements. Their ongoing projects and research not only highlight their growth but also present exciting opportunities for investors. To stay ahead, investors should dive deeper into these companies and keep abreast of their future developments
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(Top image: AI-generated file photo)