Three Canadian stocks to watch
The TSX continues its impressive rally into October, setting fresh record highs and building on last week’s momentum. The S&P/TSX Composite Index recently surpassed the 30,000 mark, buoyed by strong performances in the materials sector, particularly gold mining, and a weakening Canadian dollar that has made resource exports more attractive. Meanwhile, south of the border, Wall Street is grappling with uncertainty as a U.S. government shutdown continues, prompting investors to seek safer havens.
In the face of all of this volatility, three TSX-listed companies have made headlines this week:
This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
1. MEG Energy: Proxy firms back Cenovus deal
MEG Energy (TSX:MEG, Forum): is gaining investor attention after receiving strong endorsements from two leading independent proxy advisory firms regarding its proposed acquisition by Cenovus Energy (TSX:CVE, Forum). Glass, Lewis & Co. has joined Institutional Shareholder Services Inc. (ISS) in recommending MEG shareholders vote FOR the Cenovus transaction.
Glass Lewis praised MEG’s board for negotiating a superior offer compared to the initial unsolicited bid from Strathcona Resources Ltd., noting:
- MEG “pushed Cenovus to improve its offer twice.”
- The deal is expected to unlock “significant operational synergies” due to the contiguous nature of the properties.
- Cenovus has “extensive experience with large-scale integrations,” making it better suited to absorb MEG.
- Strathcona’s offer carries “higher integration risk” and lacks the same adjacency synergies.
- MEG shareholders could face valuation risks with Strathcona’s stock.
- Cenovus’s offer provides “cash certainty and exposure to stable equity.”
The transaction values MEG at C$28.26 per share, representing an enterprise value of approximately $8.2 billion. Shareholders can elect to receive cash, Cenovus shares, or a combination thereof, with a fully prorated consideration of C$20.44 in cash and 0.33125 Cenovus shares per MEG share.
The shareholder vote is scheduled for October 9, 2025, and the proxy deadline is October 7, though the current postal strike might complicate that.
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2. Tilray: Expanding medical cannabis in Germany
Tilray Medical, a division of Tilray Brands (TSX:TLRY, Forum), has announced the expansion of its Tilray Craft portfolio in Germany, introducing five new cannabis flower products cultivated at its EU-GMP certified facility in Neumünster.
The new strains include:
- THC30 TRM (Triangle Mints)
- THC28 TRM (Triangle Mints)
- THC28 PPV (Platinum Pave 34)
- THC25 PPV (Platinum Pave 34)
- THC22 SNS (Sunset Sherbet)
These products are available by prescription at pharmacies across Germany and are part of the BfArM in-country cultivation program. Tilray’s expansion reflects its commitment to providing high-quality, consistent medical cannabis options tailored to patient needs.
This move strengthens Tilray’s position in Europe’s largest medical cannabis market and supports its broader strategy of international growth and pharmaceutical-grade cannabis innovation.
3. Theralase: Ruvidar shows promise against HSV-1
Theralase Technologies (TSXV:TLT, Forum), a clinical-stage pharmaceutical company, has published peer-reviewed preclinical data demonstrating the effectiveness of its antiviral candidate Ruvidar against Herpes Simplex Virus Type 1 (HSV-1).
Key findings from the study published in MDPI – Viruses include:
- Ruvidar was more effective than Acyclovir and Metformin, even without light activation.
- It suppressed viral replication in infected cells and prevented the spread to adjacent cells.
- Ruvidar was also effective against Acyclovir-resistant HSV-1 mutants, offering hope for patients with drug-resistant infections.
This breakthrough positions Ruvidar as a next-generation antiviral therapy, potentially transforming treatment options for millions affected by HSV-1 globally. Theralase is now advancing Ruvidar into clinical development, with implications for broader antiviral applications.
Stay informed, stay ahead
As the TSX continues to outperform global benchmarks, Canadian investors have plenty to be optimistic about. From energy sector consolidation to international cannabis expansion and biotech innovation, this week’s headlines underscore the importance of staying informed. Keep your portfolio fresh and future-ready by tracking the latest developments—because in investing, knowledge is your most valuable asset.
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