IPO shares in aerospace technology company MDA take off while digital ad technology company Acuity’s sink — here are this weeks winners and losers
n », »heading »: » », »fullWindow »:false, »fullBleed »:false, »showFullBleedOnMobile »:false, »headColor »: » », »type »: »html5mobile », »textColor »: » », »mobileImageUrl »: » », »bgColor »: » », »imageUrl »: » », »registeredOnly »:false, »linkUrl »: » », »aodaTitle »: »Graphic for MDA Ltd », »internalScroll »:false, »displayStyle »: »small-up »},{« text »: »Galaxy Digital Holdings Ltd. (GLXY) +30.1%« , »type »: »text », »isParagraph »:true},{« text »: »Bitcoin had a decent week. Galaxy, a cryptocurrency asset manager and trader, had an even better one. Galaxy’s shares have been on a tear since the company announced blockbuster fourth quarter results. The company announced March 30 a fourth quarter profit of $483.6 million, compared with a $32.9 million loss in the same period a year ago. Much of that gain came thanks to a $294.4 million profit turned by the company’s trading division. A year ago, that same division lost $16.7 million. », »type »: »text », »isParagraph »:true},{« type »: »textBreakPoint », »insertAt »: »contentMiddleBreakPoint »},{« snippet »: »n », »heading »: » », »fullWindow »:false, »fullBleed »:false, »showFullBleedOnMobile »:false, »headColor »: » », »type »: »html5mobile », »textColor »: » », »mobileImageUrl »: » », »bgColor »: » », »imageUrl »: » », »registeredOnly »:false, »linkUrl »: » », »aodaTitle »: »Graphic for Galaxy Digital Holdings », »internalScroll »:false, »displayStyle »: »small-up »},{« text »: »Tecsys Inc. (TCS) +12.6%« , »type »: »text », »isParagraph »:true},{« text »: »It’s been a banner week for Tecsys. The Montreal-based supply chain software firm announced a pair of major contracts in two different industries. One was with Spectrum Health, a Michigan-based not-for-profit hospital consortium. The other was with Fuel Transport, a Montreal-based transportation firm serving the aerospace, automotive, food and beverage, retail and pharmaceutical industries. Financial terms of neither deal were disclosed. Investors pushed Tecys shares higher in the wake of the deals. », »type »: »text », »isParagraph »:true},{« snippet »: »n », »heading »: » », »fullWindow »:false, »fullBleed »:false, »showFullBleedOnMobile »:false, »headColor »: » », »type »: »html5mobile », »textColor »: » », »mobileImageUrl »: » », »bgColor »: » », »imageUrl »: » », »registeredOnly »:false, »linkUrl »: » », »aodaTitle »: »Graphic for Tecsys Inc. », »internalScroll »:false, »displayStyle »: »small-up »},{« type »: »ad », »heading »: »ARTICLE CONTINUES BELOW », »name »: »ArticleSecondBigBox », »display »: »medium-down », »pos »: »2″, »interstitial »:true, »sizes »:[[300,250]]},{« text »: »LOSERS« , »type »: »text », »isParagraph »:true},{« text »: »Acuityads Holdings Inc. (AT) -22.9%« , »type »: »text », »isParagraph »:true},{« type »: »cta », »buttonText »: »Sign Up Now », »buttonLink »: »/emails.html?nsrc=article-inline-covid », »description »: »Never miss the latest news from the Star, including up-to-date coronavirus coverage, with our email newsletters », »title »: »Get the latest in your inbox »},{« text »: »Getting added to an index usually gives a company’s shares a boost, as index-tracking fund managers buy them up to make sure their holdings match up. It can also give the shares a boost just by raising their profile. But digital ad technology company Acuity’s boost was short-lived, after its shares were added to the TSX Composite Index in mid-March. Since peaking at $19.43 on March 15, the day the move was announced, Acuity has been sinking steadily, dropping as low as $13.51. », »type »: »text », »isParagraph »:true},{« snippet »: »n », »heading »: » », »fullWindow »:false, »fullBleed »:false, »showFullBleedOnMobile »:false, »headColor »: » », »type »: »html5mobile », »textColor »: » », »mobileImageUrl »: » », »bgColor »: » », »imageUrl »: » », »registeredOnly »:false, »linkUrl »: » », »aodaTitle »: »Graphic for Acuityads Holdings », »internalScroll »:false, »displayStyle »: »small-up »},{« text »: »Score Media and Gaming Inc. (SCR) -16.7%« , »type »: »text », »isParagraph »:true},{« type »: »relatedStories », »relatedStories »:[]},{« text »: »Oh, how the mighty have fallen. Since peaking at $51.86 on Feb. 18, Score Media shares have been on a steady, downward tumble. The Toronto-based online betting and media company had shot up more than 800 per cent over the previous six months, as the rumour mill linked them to a takeover bid giant U.S. competitor Draft Kings. Score also saw its shares get a dual listing on the tech-heavy NASDAQ exchange Feb. 25, something which should theoretically have raised its profile – and potentially its share price — south of the border. », »type »: »text », »isParagraph »:true},{« type »: »slimcut »},{« snippet »: »n », »heading »: » », »fullWindow »:false, »fullBleed »:false, »showFullBleedOnMobile »:false, »headColor »: » », »type »: »html5mobile », »textColor »: » », »mobileImageUrl »: » », »bgColor »: » », »imageUrl »: » », »registeredOnly »:false, »linkUrl »: » », »aodaTitle »: »Graphic for Score Media and Gaming Inc. », »internalScroll »:false, »displayStyle »: »small-up »},{« text »: »Canopy Growth Corp. (WEED) -11.1%« , »type »: »text », »isParagraph »:true},{« type »: »textBreakPoint », »insertAt »: »contentEndBreakPoint »},{« text »: »Now that’s a bad buzz. Canopy announced this week that it was taking over Toronto-based Supreme Cannabis Co. Evidently investors believe that at roughly $435 million, Canopy is paying too much for Supreme and its premium 7Acres brand, as Canopy shares fell after the deal was announced. It’s the second acquisition this month for Canopy, which as recently as last June said it wasn’t looking to the M+A market. April 1, Canopy bought AV Cannabis. Desjardins analyst John Chu, who rates Canopy as a “hold,” called the Supreme deal “slightly positive.” », »type »: »text », »isParagraph »:true},{« snippet »: »n », »heading »: » », »fullWindow »:false, »fullBleed »:false, »showFullBleedOnMobile »:false, »headColor »: » », »type »: »html5mobile », »textColor »: » », »mobileImageUrl »: » », »bgColor »: » », »imageUrl »: » », »registeredOnly »:false, »linkUrl »: » », »aodaTitle »: »Graphic for Canopy Growth », »internalScroll »:false, »displayStyle »: »small-up »},{« text »: »Josh Rubin is a Toronto-based business reporter. « , »author »:{« janrainUuid »: »2d1f9caf-acb1-4045-88f6-2d46c83d4983″, »author »: »Josh Rubin », »facebookmeta »: »https://www.facebook.com/pages/Josh-Rubin/234914459966218″, »photo »:{« origImageSize »: »800×500″, »lastmodified »:2700061000, »url »: »/content/dam/thestar/columnist_logos/Rubin_Josh_logo2015W.jpg », »sizes »:{« 1:1 »:{« small »: »https://images.thestar.com/hCr3JPRZXJGc6HGHBlcvRC8QxIg=/100×100/smart/https://www.thestar.com/content/dam/thestar/columnist_logos/Rubin_Josh_logo2015W.jpg »}, »3:2″:{« small »: »https://images.thestar.com/nhAmckWnBcS988bkCf5BJKWX4nw=/114×76/smart/https://www.thestar.com/content/dam/thestar/columnist_logos/Rubin_Josh_logo2015W.jpg », »medium »: »https://images.thestar.com/VUGML7cxntQPnSJZYcLpzu9Q4OQ=/330×220/smart/https://www.thestar.com/content/dam/thestar/columnist_logos/Rubin_Josh_logo2015W.jpg », »large »: »https://images.thestar.com/iAjJqpo7K5ovzHFlQPEDHqFCmPg=/690×460/smart/https://www.thestar.com/content/dam/thestar/columnist_logos/Rubin_Josh_logo2015W.jpg »}, »21:9″:{« large »: »https://images.thestar.com/bgftfWvkqliNGkLDyB_LBeM_AVk=/1080×460/smart/https://www.thestar.com/content/dam/thestar/columnist_logos/Rubin_Josh_logo2015W.jpg »}}}, »location »: »Toronto », »tag »: »josh_rubin », »credit »: »Business Reporter », »twitterId »: »starbeer », »email »: »josh@thestar.ca »}, »authorPageUrl »: »https://www.thestar.com/authors.josh_rubin.html », »type »: »endnote », »isLast »:true},{« type »: »related_topics », »tags »:[« tsx »]},{« type »: »shareBar »},{« type »: »trustbar »}], »assetTags »:[« stocks », »nicrt2″, »winners_and_losers », »weeks_winners_losers », »maxar_technologies », »s_p_tsx_60″, »arc_cov_economy », »business », »smg_business », »toronto_stock_exchange », »economy », »opinion », »josh_rubin », »economy_of_canada », »covid_19″, »coronavirus », »kmi1″, »InHouseArticle_thestar », »companies », »tsx », »canopy_growth », »economy_of_ontario »], »seoKeywords »: »Opinion,stocks,Winners and Losers,Arc cov economy,COVID-19,coronavirus,weeks winners/losers,business,economy,TSX,KMI1,NICRT2,smg_business,InHouseArticle_thestar », »excludeInRecommendations »:false, »promo »:[], »related »:{« pubdays »:0, »strategy »:0}, »personalizationMetadata »:{« inHouseArticle »: »true », »image »: »https://images.thestar.com/5vGJLAfbYEgjtj0GyvNghOKeb7M=/1280×1024/smart/filters:cb(1618019434684)/https://www.thestar.com/content/dam/thestar/business/2021/04/09/ipo-shares-in-aerospace-technology-company-mda-take-off-while-digital-ad-technology-company-acuitys-sink-here-are-this-weeks-winners-and-losers/mda_ltd.jpg », »enableLivechat »: »false », »images »: »https://www.thestar.com/assets/img/thestar-ribbon.png », »noShow »: »false », »enableConversations »: »false », »description »: »Stock surges and setbacks for the week ending April 9, 2021″, »hasImage »:true, »section »: »Business », »abstract »: »Stock surges and setbacks for the week ending April 9, 2021″, »asset_id »: »28bfcce4-7556-4297-ab5e-436f2b87e2d9″, »title »: »IPO shares in aerospace technology company MDA take off while digital ad technology company Acuity’s sink — here are this weeks winners and losers », »type »: »article », »smg_tag »: »business », »url »: »https://www.thestar.com/business/2021/04/09/ipo-shares-in-aerospace-technology-company-mda-take-off-while-digital-ad-technology-company-acuitys-sink-here-are-this-weeks-winners-and-losers.html », »site_name »: »thestar.com », »enableLivechatadmin »: »false », »thumbor_image »: »{« imageid »: »GAQ16QUFB.4″, »origImageSize »: »1200×837″, »lastmodified »:1618013816163, »fullWindowMainart »:false, »forceoriginal »:false, »caption »: »Mike Greenley, president of MDA. 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WINNERS
MDA Ltd. +23.9%
We have liftoff. The IPO of aerospace technology company MDA, which began life in 1969 as MacDonald, Dettwiler and Associates, finally happened this week. While it didn’t budge much in its opening day of trading on the TSX Wednesday, it’s since been on a fairly steady upward trajectory. In 1999, MDA took over Spar Aerospace, builder of the Canadarm, and renamed it MD Robotics. The company and its assets have changed hands — and names — several times. Most recently was last April, when Toronto private equity firm Northern Private Capital bought MD from Colorado-based Maxar for $1 billion.
Galaxy Digital Holdings Ltd. (GLXY) +30.1%
Bitcoin had a decent week. Galaxy, a cryptocurrency asset manager and trader, had an even better one. Galaxy’s shares have been on a tear since the company announced blockbuster fourth quarter results. The company announced March 30 a fourth quarter profit of $483.6 million, compared with a $32.9 million loss in the same period a year ago. Much of that gain came thanks to a $294.4 million profit turned by the company’s trading division. A year ago, that same division lost $16.7 million.
Tecsys Inc. (TCS) +12.6%
It’s been a banner week for Tecsys. The Montreal-based supply chain software firm announced a pair of major contracts in two different industries. One was with Spectrum Health, a Michigan-based not-for-profit hospital consortium. The other was with Fuel Transport, a Montreal-based transportation firm serving the aerospace, automotive, food and beverage, retail and pharmaceutical industries. Financial terms of neither deal were disclosed. Investors pushed Tecys shares higher in the wake of the deals.
LOSERS
Acuityads Holdings Inc. (AT) -22.9%
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Getting added to an index usually gives a company’s shares a boost, as index-tracking fund managers buy them up to make sure their holdings match up. It can also give the shares a boost just by raising their profile. But digital ad technology company Acuity’s boost was short-lived, after its shares were added to the TSX Composite Index in mid-March. Since peaking at $19.43 on March 15, the day the move was announced, Acuity has been sinking steadily, dropping as low as $13.51.
Score Media and Gaming Inc. (SCR) -16.7%
Oh, how the mighty have fallen. Since peaking at $51.86 on Feb. 18, Score Media shares have been on a steady, downward tumble. The Toronto-based online betting and media company had shot up more than 800 per cent over the previous six months, as the rumour mill linked them to a takeover bid giant U.S. competitor Draft Kings. Score also saw its shares get a dual listing on the tech-heavy NASDAQ exchange Feb. 25, something which should theoretically have raised its profile – and potentially its share price — south of the border.
Canopy Growth Corp. (WEED) -11.1%
Now that’s a bad buzz. Canopy announced this week that it was taking over Toronto-based Supreme Cannabis Co. Evidently investors believe that at roughly $435 million, Canopy is paying too much for Supreme and its premium 7Acres brand, as Canopy shares fell after the deal was announced. It’s the second acquisition this month for Canopy, which as recently as last June said it wasn’t looking to the M+A market. April 1, Canopy bought AV Cannabis. Desjardins analyst John Chu, who rates Canopy as a “hold,” called the Supreme deal “slightly positive.”
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