An energy services stock powered higher Friday following an investment from PIMCO. Here’s some small stocks making big moves on Friday, October 9, 2020 (as of 4 pm EST):
Just Energy Group Inc. (TSX:JE), a consumer energy services stock, climbed 15% to $8.46 on Friday after Pacific Investment Management Company (PIMCO) disclosed a 28.9% stake in the Company.
As well, shares of MTY Food Group Inc. (TSX:MTY) shot up 16% to $43.20 as the fast-food restaurant franchisor said its Q3 net profit was $22.9 million, unchanged from a year ago, even as revenue for the period fell 16% to $135.4 million due to the impact of COVID-19.
Alcanna Inc. (TSX:CLIQ), meanwhile, reported that it has agreed to sell eight convenience-format liquor stores on Vancouver Island, British Columbia for a total consideration of $21.1 million. The Company also said it anticipates its same-store liquor sales for the three months ended September 30, 2020 will be approximately 15% higher than the same period a year ago. Alcanna stock moved up 3% to $5.10 following the announcement.
Finally, Power Group Projects Corp. (TSXV:PGP) shares gained 100% to $0.08 after the company announced that it has entered into a binding letter of intent to acquire the Muddy Gullies platinum and palladium project in Newfoundland, in consideration for 12.9 million PGP common shares.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.
Just Energy Group Inc. (TSX:JE), a consumer energy services stock, climbed 15% to $8.46 on Friday after Pacific Investment Management Company (PIMCO) disclosed a 28.9% stake in the Company.
, powered higher on Friday following an investment from PIMCO.){kind=link}