|Bid||0.00 x 47500|
|Ask||0.00 x 47000|
|Day's Range||72.14 - 72.14|
|52 Week Range||47.99 - 73.22|
|Beta (5Y Monthly)||0.80|
|PE Ratio (TTM)||11.48|
|Forward Dividend & Yield||2.82 (3.91%)|
|Ex-Dividend Date||Apr 21, 2021|
|1y Target Est||N/A|
Reddit Penny Stocks continues to collect investors looking for the best small stocks to take a chance on. Source: Mehaniq / Shutterstock.com Let’s look at some of the favorite stocks on the subreddit that investors may want to look into. Fusion Acquisition (NYSE:FUSE) — FUSE is a special purpose acquisition company (SPAC) founded last year. Shares of the stock are down 1.2% as of this writing. Here’s what to know about the company. Royal Bank of Canada (NYSE:RY) — This is Canada’s largest bank by market capitalization. RY stock was up 1.2% this morning. Learn more about it here. Avista (NYSE:AVA) — AVA is an American energy company and a larger one investors wouldn’t normally think to see on the Reddit Penny Stocks. Either way, shares are up 2.5% today. Get up to date on AVA stock at this link. Lands’ End (NASDAQ:LE) — The clothing and home decor retailer has been struggling of late and that makes it a target for investors hoping for a turnaround. Shares were down 6.5% as of this writing. Read up on LE here. Rite Aid (NYSE:RAD) — The pharmacy is another one unexpected on a penny stocks subreddit but here it is. Shares of RAD stock are down 1.8% today. Here’s the latest RAD news. Genius Brands International (NASDAQ:GNUS) — This entertainment company is more of what investors expect to see on the subreddit with a low entry price under $2 per share. GNUS stock was down 13.4% Friday morning. Investors wanting more GNUS content can follow this link. NovaGold Resources (NYSEAMERICAN:NG) — Here’s a stock that both Reddit Penny Stocks and r/WallStreetBets are loving today. Its shares are mostly flat as of this writing. Learn more about the stock here. Allied Esports Entertainment (NASDAQ:AESE) — This provider of live esports entertainment finishes up the list of popular Reddit Penny Stocks today. AESE stock was down 26% as of this writing. Catch up on AESE news at this link. On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.InvestorPlace - Stock Market News, Stock Advice & Trading Tips More From InvestorPlace Why Everyone Is Investing in 5G All WRONG It doesn’t matter if you have $500 in savings or $5 million. Do this now. Top Stock Picker Reveals His Next Potential 500% Winner Stock Prodigy Who Found NIO at $2… Says Buy THIS Now The post Reddit Penny Stocks: FUSE, RY, AVA, LE, RAD and Other Top Names on the Popular Subreddit appeared first on InvestorPlace.
(Bloomberg) -- Finance Minister Chrystia Freeland stressed the government will do “whatever it takes” to support Canada’s recovery and suggested it’s too early to declare victory despite data that show surprising strength in the economy.Gross domestic product expanded at a 9.6% annualized rate in the fourth quarter, according to a preliminary estimate released Tuesday by Statistics Canada. A flash estimate from the agency said the economy probably grew 0.5% in January.Freeland said at a news conference she’s committed to spending through the Covid-19 crisis. “Our government will continue to do whatever it takes, for as long as it takes, to help Canadians through this bleak time, to prevent economic scarring and to invest in a way that allows us all to come roaring back after Covid-19,” she told reporters Wednesday in Ottawa.Prime Minister Justin Trudeau has presided over some of the developed world’s largest deficits to help the economy during the pandemic. Canada’s deficit swelled to C$248.2 billion ($196.6 billion) in the nine months ended Dec. 31, compared to C$11 billion in same period a year earlier.The borrowing has been driven by programs that send money to people and businesses that lost jobs and income because of the virus, which has killed 22,000 people in Canada. But some say the government went too far -- spending C$20 in transfers to households last year for every dollar of regular income that was lost.“We are constantly, carefully evaluating government spending, government debt, jobs numbers and economic growth,” Freeland said. “We are prudent and we are responsible, but sometimes the greatest danger is not to act and we understand that risk, too.”The government is indeed acting, extending its Covid-19 income supports for businesses -- wage and rent subsidies, along with a lockdown benefit -- at current levels until June. Freeland pegged the cost of that move at C$16 billion, and it comes on the heels of a similar extension last month for aid to individuals that cost about C$12 billion.“Given the timing, these changes will mostly impact next fiscal year,” Simon Deeley, an analyst at RBC Capital Markets, said Thursday in a report to investors.This week’s GDP numbers have caused economists to begin raising their forecasts for 2021, and expectations for better growth are showing up in higher borrowing costs. The yield on 10-year Canada bonds has increased to 1.42%, up from below 1% earlier this month.(Updates with cost of income support extensions in 2nd and 3rd last paragraphs.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- The Reserve Bank of Australia signaled it’s ready for a prolonged battle with bond traders betting on a reflation wave sweeping across the global economy.“The bank remains committed to the 3-year yield target and recently purchased bonds to support the target and will continue to do so as necessary,” Governor Philip Lowe said in a statement Tuesday, after keeping the main policy levers unchanged. “The bank is prepared to make further adjustments to its purchases in response to market conditions.”The RBA has stepped up bond purchases to defend its yield target and in an effort to soothe market dysfunction. Australia and New Zealand both find themselves at the front line as early success in containing Covid-19 means they’re further along the road to recovery that will, potentially, trigger an unwinding of ultra-loose policy settings.Su-Lin Ong, head of Australian economic and fixed-income strategy at Royal Bank of Canada, said the central bank’s unscheduled operations Friday to defend its yield target and doubling of its usual quantitative easing purchases Monday marked a shift in stance.It signals “a preparedness to be more flexible, deploy its existing tools for better impact,” she said. That suggests the RBA “will err on the side of more, rather than less, accommodation with QE3 likely.”After the upheaval in yields through February, market reaction was muted to the RBA’s statement today. The 10-year yield spiked seven basis points higher while the three-year yield was just under 1.2%, suggesting markets will continue to test the RBA with reflation bets. The currency trimmed its intraday decline to trade at 77.64 U.S. cents at 5:48 p.m. in Sydney.Lowe indicated in his statement that the outlook was largely unchanged from the prior month: inflation will accelerate temporarily after the end of Covid-related price reductions; otherwise, consumer prices will rise 1.25% this year and 1.5% next.The central bank won’t raise its cash rate “until actual inflation is sustainably” in its 2-3% target range,” the governor reiterated. This, he said, will require “materially higher” wages growth that in turn will need “significant gains” in employment to tighten the labor market.“The board does not expect these conditions to be met until 2024 at the earliest,” Lowe said.Central banks and bonds markets across the world have been locked in a showdown as efforts to keep borrowing costs low are being tested by inflation bets. Fed Chair Jerome Powell last week spent two days telling U.S. lawmakers the economy is in no state to be thinking about monetary tightening. European Central Bank President Christine Lagarde is “closely monitoring” debt yields.Lowe said today the bank is “prepared to do more if that is necessary.” That echoed comments earlier today by The Reserve Bank of New Zealand, which said that it stood ready to ramp up bond purchases.What Bloomberg Economics Says...“Rather than resorting to expanding existing policy tools the RBA stuck with jawboning, stating that it doesn’t expect conditions to warrant an increase in interest rates until 2024 at the earliest.”-- James McIntyre, economistFor the full note, click here.Covid RecoverySentiment is strong in Australia, underpinning activity and hiring; on top of that, the nation’s largest export -- iron ore -- is hovering around $170 a ton, levels last seen a decade ago.Economists estimate the economy expanded 2.5% in the final three months of last year from the prior quarter, ahead of data Wednesday. Yet, gross domestic product probably contracted 1.9% from a year earlier, they said.The low cost of borrowing is fueling a rapid rebound in property with the housing market recording its largest monthly gain in 17 years and lending reaching a record high in January.“Housing credit growth to owner-occupiers has picked up, but investor and business credit growth remain weak,” Lowe said. “Lending standards remain sound and it is important that they remain so in an environment of rising housing prices and low interest rates.”(Updates with comment from economist in fourth and fifth paragraphs.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.