Trending

Member ‘MIC’ Leads March 2021 Stock Challenge

TSX Venture Investing > Member ‘MIC’ Leads March 2021 Stock Challenge

week 2 cover for stock challenge

We’ve reached the end of another week of Stock Challenge, contestants! Member ‘MIC’ is leading this month’s Stock Challenge with a return of 139.58% (the last time MIC held first place in Stock Challenge was in February 2020), followed closely behind by second place member ‘Grix’ (99.65% return) and third place member ‘allan riedlinger’ (98.88% return). Interestingly enough, almost every contestant in the Top 10 right now has Gamestop in their portfolio…

Despite falling from a high of US$347.51 to US$40.59 by late February, Gamestop is now back – today, the stock closed at US$264.50. However, Gamestop’s most recent run may not be like the last.

According to Yahoo Finance,

“. . .the recent surge in GameStop shares has not coincided with an increase in short interest, as it did during the last episode in late January, according from data from S3 Partners. This current run is much different, lacking any sort of short squeeze behavior, either in the numbers or in the public narrative that previously saw short-selling hedge funds pitted against retail investors looking for revenge.”

Before we wrap things up, let’s take a look at some of the most recent, noteworthy stats for this month’s contest, starting with the biggest movers of the day: Sokomon Minerals and Digihost Technology. Sokomon Minerals had the biggest stock breakout, rising 41.46% from C$0.20 to C$0.29. Digihost Technology, on the other hand, experienced the biggest stock breakdown, falling 25.16% from C$3.14 to C$2.28.

The performance of the Stock Challenge Index (SCI) itself has been mediocre, with the SCI hovering around roughly 2%.

stock challenge index (SCI) as of March 12, 2021

March 2021 Stock Challenge is Off to a Slow Start

We’re almost at the halfway mark for this month’s Stock Challenge, and only one contestant has a triple-digit return. Although contestant returns are far more subdued than they were last month, there’s still plenty of time left for Stock Challengers to make a move!


Pinnacle Stock Challenge
 
Pinnacle Digest