In reviewing stock performance over the past week, I was initially surprised at how many stocks did really well. Then I remembered that it was the final days of RRSP contributions, which likely accounted for much of the growth in price. The performance, however, was focused in a few stocks and not generalized across all constituents of the TSX 60.
Valeant has done very well recently, growing in price by 38% over the past six months. Momentum remains very strong. The company is a multinational, formerly named Biovail. It’s widely considered to be well-managed. It has grown quickly, although much of the growth has come from 50 acquisitions over the past four years.
As a note, last week’s pick, CP, rose in price by 5.14% in the last week. That’s extraordinary. The pace can’t continue, but it still shows potential.