Hoping for a quick 70% win
I bought this stock today
With profits from the recent silver trade, I have just bought stock in a new company.
It went public in 2021, raising C$100M at C$10. But the shares are currently trading around C$6, down 40% since the IPO.
This is due in part to the fact that the sector, renewable natural gas (RNG), has fallen out of favour. But also because the company has failed to get investors excited.
However, there could be some positive news coming in Q1 that, it seems, the market is ignoring: the company has indicated there will be a material funding transaction of over $500m. Recent transactions in the sector could imply a valuation in excess of $40/share. Even if you discount that by 75%, the risk-reward here is very attractive.
Cormack, Haywood, National Bank of Canada and RBC all have targets of $11-14 on the stock.
You’ll no doubt want to know what the company is.
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