The cryptocurrency market has exploded since March 2020 and touched a cumulative market cap of US$3 trillion in November 2021. Solana (CRYPTO:SOL) was among the top-performing cryptocurrencies in the last year, as it surged higher by almost 11,000% in 2021. However, in the last two months, several digital tokens, including Solana, have lost steam. The SOL token is down almost 50% from all-time highs, making it attractive to contrarian investors.
Let’s see if the recent pullback presents an attractive buying opportunity to crypto bulls right now.
Solana is valued at a market cap of US$46.8 billion
Its staggering gains in the past year have meant that Solana is now valued at a market cap of US$46.8 billion, making it the fifth-largest cryptocurrency in the world, at the time of writing. The key catalysts for the massive uptick in the price of the SOL token include the high speed and low transaction fees of its blockchain network.
For transactions to be executed on a blockchain,...
Many TSX stocks are starting to get ridiculously oversold after another brutal day of selling on Thursday. The TSX Index is down 15% on the back of economic sluggishness â Canada’s economy grew 0.3% in April. Despite closing in on recession territory (two straight quarters of negative GDP growth), the Bank of Canada cannot afford to take a dovish pivot — not with 7.7% inflation that could continue to hurt consumers through year’s end.
Stagflation isn’t ideal for financial markets. Still, a recession isn’t a given, even though many stocks are priced as though we’re about to endure a lost year. In this piece, we’ll check in with three oversold TSX stocks worth stashing in your long-term portfolio.
This market selloff could easily worsen. Regardless, TFSA investors should continue to stay the course and top up gradually on the way down for better results over a longer-term timespan.
TFSA top pick #1: IA Financial
IA Financial (TSX:IAG) is a Canadian insurer that enjoyed a 2.4%...
The TSX is host to many excellent growth stocks. However, choosing which ones to add to your portfolio can still be a difficult task. Choosing the right stocks will not only help you realize gains in the future but remain confident during times of market uncertainty. In this article, I’ll discuss three top TSX stocks to hold over the next decade.
The e-commerce industry is only going to keep growing
By the header, you may have already guessed that the first TSX stock worth holding over the next decade is Shopify (TSX:SHOP)(NYSE:SHOP). This is a very popular stock — not just among growth investors but Canadians. It’s often suggested that our “home bias” may be a reason for Shopify being so widely held by Canadians. However, there’s no denying that it’s one of the most interesting companies to hold right now.
Shopify is a leader within the rapidly growing e-commerce industry. The company provides businesses with a platform and all the tools necessary to operate online stores. Sho...
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