The Toronto Stock Exchange Venture (TSXV) provides plenty of chances for investors to benefit from the information flow in the market. This week, five stocks have made the biggest waves on the TSXV.
Rugby Resources (TSXV: RBY), up 75%, is the top weekly stock on the TSXV. The jump in price most likely occurred due to a positive financial update provided by the company. Rugby reported that it had generated $1.2 million in cash flow from operations in the first quarter of 2021, a rise of 31% compared to the same period last year. Guidance for the rest of 2021 also suggests further profits for the company and its investors.
The next biggest stock on the TSXV is Taiga Building Products (TSXV:TBL). The firm had an increase of nearly 47% this week as the company announced the purchase of a 3.3 million square foot facility in Toronto. This move opens up a range of new possibilities for the company, which expects to have the facility operational by the third quarter of 2021.
Riverlodge Acquisition Corp (TSXV:RVL) saw its stock increase by 43.48% this week after the company made an agreement to acquire a blockchain company operating in the middle market. The company also announced the final details of its rights offering of 31.5 million units at $3.25 per unit. Through this offering, Riverlodge will be well positioned to capitalize on the booming blockchain industry.
The fourth biggest stock on the TSXV this week was Belmont Resources Inc (TSXV:BEA), which had a jump of 34.62%. The recent price spike was most likely due to the engagement of Aurora Investment Strategies to provide strategic advice on the company’s opportunities in the global energy market. Belmont has positioned itself well to capitalize on the shifting global energy landscape and take advantage of the many opportunities that the sector presents.
The fifth biggest stock on the TSXV this week is Mountain Valley LP (TSXV:MVP). Mountain Valley’s stock saw an increase of 28.57% after the announcement of its participation in an all-cash deal that will see the company acquire Theros Mining & Exploration Ltd. and its assets. In addition, the company also announced a $2 million private placement of subscription receipts at a price of $1.50 per subscription receipt.
In conclusion, the five top weekly stocks on the TSXV this week saw prices increase due to a range of news items. Rugby Resources had the biggest jump in price due to positive financial updates, while still showing strong growth were Taiga Building Products, Riverlodge Acquisition Corp, Belmont Resources Inc. and Mountain Valley LP. Each of these five stocks have something unique to offer and are positioned well for further gains in the coming weeks.
“Unlock Life-Changing Gains: Weekly TSXV List Includes Rugby Resources Explosion of 75%
