We’re just past the halfway point of our first Stock Challenge contest of the year.
Of all the data and trends that can be extracted from this month’s contest, one thing stands out above all else: commodities are booming!
All current top 10 players picked at least one natural resource stock, with those stocks combining for an average return of roughly 65% thus far.
Top 10 Leaderboard
With crude oil prices at a 7-year high, and after weeks of consecutive gains, it’s no surprise that oil and gas stocks have been breakout performers in the first two weeks of the month. A third of the top ten performing stocks – including the #1 performer – belong to oil and gas companies. So far this month, those 3 stocks have combined for an average yield of roughly 99.9%.
Top Performing Stocks
Canada-based precious and base metals explorer, Goldquest Mining, has performed well with a triple-digit return of about 101% so far. Two U.S.-based cannabis companies, iAnthus Capital and General Cannabis, also feature in this month’s top 10 stock performers, after posting roughly 65% return each so far in January.
The Stock Challenge Index
Despite having more than 60% of the stocks selected this month currently in the red, the Stock Challenge Index (SCI) is holding out above zero – thanks in large part to the small-cap exchanges represented in January’s contest, all of which are averaging positive returns.
Even though it has already been a wild ride for the SCI this month, uncertainties related to omicron, inflation and supply shortages could spark even further swings later in the month. We could still have a nail-biter to close the month out. Watch this space!
Best of luck for the remainder of the contest! And don’t forget to sign up for February’s Stock Challenge while there’s still time. Do NOT miss your chance at winning silver bullion and Pinnacle Digest swag.