Join us in ringing in the New Year by welcoming the last Stock Challenge Champion of 2020: member ‘Teal’! Despite this being their first contest, Teal finished the month with a blockbuster return of 252.50% thanks to their pick of Bionano Genomics! Well done, Teal — your market foresight has made you the winner of this month’s one ounce gold maple leaf coin!
However, we couldn’t forget about our other incredible winners, including member ‘Rainendown’ who finished second (241.20% return), member ‘SOBARS’ who finished third (166.07% return), and member ‘miningstocksguide’ who finished fourth (153.64% return).
Well done, everyone! Your prizes, which include silver bullion and/or Pinnacle Digest merchandise, will be shipped out soon. But before we pop the bubbly, let’s take a quick look at how Teal pulled off their victory this month…
Champion’s Corner: Bionano Genomics
Teal owes his tremendous victory to one company: Bionano Genomics. Supported by a flurry of press releases, Bionano skyrocketed 528.57% from US$0.49 to US$3.08 for the month of December. The company, which describes itself as a genome analysis company providing tools and services based on its Saphyr system, recently announced that one of its customers, Praxis Genomics, received accreditation from the College of American Pathologists.
“Erik Holmlin, PhD, CEO of Bionano Genomics commented: ‘We want to congratulate Praxis Genomics and its founder Dr. Peter L. Nagy on their CAP accreditation, making their Saphyr-based test the first whole genome analysis LDT in the U.S. in a CAP/CLIA setting. We believe this accreditation is a key step on the path to reimbursement of Saphyr-based LDTs by third party payors. . .”
Great pick, Teal! We hope you enjoy your stay in the Stock Challenge Hall of Fame and look forward to seeing your performances in the months ahead…
Stock Challenge Index (SCI) Finishes the Year Strong
While the SCI dipped late this month (much like it did in December 2019), it recovered phenomenally, closing at 16.39% by the end of the month. This is a significant improvement over last year when the SCI finished at 12.69%.
Contestants picked 144 stocks from the TSX Venture this month. The average return of the stocks picked from the TSXV was 26.38%, hardly surprising given that the TSX Venture Index closed at 875.36 today — a stone’s throw away from its 5-year high of 939.66!
Final Top 10 Leaderboards
2020 Revealed the Value of Optimism
This year, Stock Challengers proved that even in the midst of extreme market volatility, growth opportunities exist. We plan to carry this same optimistic mindset with us into 2021 (and implore you to do so the same) as we look toward a new year full of possibilities!