The 5 Best (UNDER-$30) Canadian Stocks to Buy Right Now
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Investing in stocks is easy and does not require a large sum of money to buy high-quality companies. Investing regularly, even a small amount, can help generate strong returns over time. I have shortlisted five Canadian stocks that are trading cheap (under $30) and have strong growth potential.
Air Canada
The resurgent virus, lower advance bookings, and travel restrictions could continue to hurt
Air Canada (TSX:AC) stock in the near term. However, Air Canada remains attractive long term and is likely to benefit significantly from the recovery in air travel demand.
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Dividend stocks are a must-have in any portfolio. Besides providing a steady income stream, dividend stocks are considered a reliable long-term investment to create wealth, thanks to their ability to generate solid earnings and cash flows.
We’ll discuss three top TSX stocks that have paid and increased their dividends for over 10 years. Furthermore, their resilient cash flows and strong fundamentals suggest that these companies could continue to increase their dividends at a decent pace and boost shareholders’ returns.
Enbridge
Enbridge (TSX:ENB)(NYSE:ENB) is one the most reliable stocks for a steady income stream. The energy infrastructure company’s dividends have grown by a compound annual growth rate (CAGR) of 10% (the highest dividend-growth rate among peers) in the last 26 years. Meanwhile, it has uninterruptedly paid dividends for 66 years in a row.
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Dogecoin and Bitcoin plunged in recent days, as crypto investors booked profits and ran for the hills after Elon Musk suddenly changed his tune on the crypto market.
Why did Dogecoin crash?
Dogecoin is a perfect example of why investors should be careful chasing hot trends. The cryptocurrency, which started out as a joke a few years ago to poke fun at Bitcoin, soared in recent months, as speculators chased quick gains. A look at the Dogecoin chart shows the craziness of the mania. Dogecoin’s value rose from less than a penny at the start of the year to above US$0.70, making some people suddenly rich.
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Early investors of cryptocurrencies like Bitcoin have turned even small amounts of investments into riches. Now, new money in this industry turns to newer cryptocurrencies such as Dogecoin for the chance to increase wealth.
The first cryptocurrency only emerged about 13 years ago a short time compared to the much longer history of the stock market. Moreover, it requires an entirely new approach to perform fundamental analysis for a cryptocurrency. It could involve analyzing use cases, the number of people using it, and the team behind the project (if there’s one). This type of analysis is also very new.