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Various COVID-19 recovery plays have been surging of late, correcting upwards following the excessive and unwarrant stanley cup ed damage they took when the stock market fell off a cliff back in February and March.Food court kingpin MTY Food Group TSX:MTY is a name I ;ve been pounding the table on is up nearly 240% from its l stanley cup usa ows of March. And Cineple stanley romania x TSX:CGX , a battered movie theatre darling, has been a falling knife that I encouraged investors to reach for back in the depths of October when the stock was trading at a mere $5 shares are now worth more than $9 .Each reopening play looks unstoppable now that a handful of safe and effective COVID-19 vaccines are ready to end the pandemic. But only one of the two names, I believe, is still a buy after bounces off their respective bottoms, given the risks that still exist en route to post-pandemic normalcy.MTY Food GroupMTY is the king of the food court, with such quick-serve restaurants as Taco Time my favourite , Tha茂 Express, Vanelli 8 Snsu 3 Oversold Dividend Stocks to Start Your Self-Directed RRSP Today
On September 20 Encana Corporation TSX:ECA NYSE:ECA agreed to sell 107,000,000 shares at a public offering price of US$9 stanley cup .35 per share, generating a total inflow of聽more than US$1 billion. Underwriters h stanley thermoskannen ave an option to sell an additional 16,050,000 shares, which would result in another US$150 million cash inflow.The stock was down 6% on the news, mainly because the size of the deal forced it to sell shares at a discount.With a market cap of just US$8.3 billion, the share issuance is huge. What does Encana plan on doing with its new capital hoard Half聽will fund capital expendituresAccording to the company itself, Encana intends to use approximately half of the net proceeds received from the sale of the stanley thermos mug shares to fund a portion of its 2017 capital program.As with 2016, the 2017 capital program is focused on only a handful of properties with the highest-quality reserves and the lower production costs.聽Already, 96% of Encana s capital expenditures are dedicated to its four |
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