Buzz on the Bullboards: Has the November rally paid off?

Once the U.S. Thanksgiving passes, the mood in North American markets shifts as investors contend with holidays, gifts, and vacations on one hand, with the end of their fiscal years on the other.

Companies also look to end the calendar year on a positive note, and any stocks making last-second rallies become attractive investments.

Meanwhile, savvy investors on the Bullboards are keeping their eyes open for value in the markets as we prepare for the Christmas holiday.

We highlight three companies in three sectors this week that have experienced some dips heading into the winter but might be on the way back up and break down what’s happening. Are they worthwhile investment bargains or potential money pits?

In the past week, the energy sector has been leading downward pressure on the TSX as crude oil prices continued to fall, though in recent days the market has seen a turnaround.

One company feeling that pressure is Baytex Energy Corp. (TSX:BTE, Forum), which intends to sell part of its Viking assets at Forgan and Plato in southwest Saskatchewan for $153.8 million.

The Calgary-based oil and gas company stated that the transfer is expected to close before the end of the year, with net proceeds from the sale to be applied against outstanding bank indebtedness. Production from the assets is approximately 4,000 barrels of oil equivalent per day (boe/d) (100 per cent light and medium crude oil). Scotiabank acted as financial advisor to Baytex with respect to the transaction.

Baytex recently reported its Q3 2023 results, stating that its production increased to more than 155,000 boe/d (84 per cent oil and gas liquids).

In terms of the full-year 2023, the company stated it expects production to fall between 121,500 and 122,000 boe/d, up from its previous guidance range of 120,500 to 122,500 boe/d.

Cannabis company Canopy Growth Corp. (TSX:WEED, Forum) is debuting a new line of Martha Stewart CBD gummies set to benefit from an ongoing consumer shift from recreational to cannabis wellness solutions.

The new line of needs-based high-CBD gummies focuses on sleep, stress, and the discomfort of aches and soreness, and was created in response to consumer demand for more targeted solutions in partnership with Marquee Brands, a well-known global brand accelerator that owns the Martha Stewart brand.

Canopy’s association with the Martha Stewart brand, which reaches around 100 million consumers each month, grants it a leadership position in the documented consumer shift towards cannabis wellness products.

Finally, we look to a cutting-edge data intelligence company that helps clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits.

Fobi AI Inc. (TSXV:FOBI, Forum) has partnered with several hockey organizations across North America to provide its wallet pass technology.

The Vancouver-based company stated its Passcreator wallet platform will be implemented with the American Hockey League (AHL) and the Ontario Hockey League (OHL), and will provide these organizations with digital alternatives to traditional identification cards.

Fobi’s wallet pass will enable one of its OHL partners to convert VIP season ticketholder cards into digital wallet passes, which will be accessible in the ticketholder’s mobile wallet.

In the AHL, the company’s wallet pass will enable the creation of digital credential cards for key employees of the team including scouts, agents, managers, officials, and team representatives. The credentials will allow employees access into locker rooms and media facilities.

They say with time and age comes wisdom, and next week we’ll be able to see how the economy is faring as December begins. Where does cannabis stand, is the energy recovery for real, and what small-cap companies are Bullboard users excited about? Find out on next week’s Buzz on the Bullboards. For previous editions of Buzz: click here.

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The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, click here.