Canadian Tech Stock Eases Despite Cloud Record

Tecsys Inc. (TSX:TCS), a Canadian tech stock, fell even as its year-to-date cloud adoption hit a record

Sean Mason | March 9, 2020 | SmallCapPower

A big jump in SaaS bookings failed to boost a small Canadian tech stock Monday. Here’s some small stocks making big moves on Monday, March 9, 2020 (as of 4 pm EST):

Tecsys Inc. (TSX:TCS), a Canadian tech stock that provides supply chain management software, slipped 7% to $16.91 on Monday after announcing record year-to-date cloud adoption, posting a 300% increase in its Q3 SaaS bookings.

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As well, shares of Ensign Energy Services Inc. (TSX:ESI) sank 50% to $0.78 as the oilfield services company said its Fiscal 2019 revenue surged 38% to $1.6 billion, while swinging to a yearly loss of $162.9 million from a profit of $58.3 million during 2018.

Last Mile Holdings Ltd. (TSXV:MILE), meanwhile, began trading on the TSX Venture Exchange on Monday. The Company, formerly OjO Electric, has a portfolio of exclusive, long-term contracts to operate shared mobility systems at 35 colleges and 45 municipalities under the OjO and Gotcha brands, with products that include e-bikes, e-scooters, e-trikes, and electric seated scooters.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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