Written by Amy Legate-Wolfe at The Motley Fool Canada
It’s Black Friday — a time when we all race online or in stores (finally) to buy up some super deals. It’ll save us tonnes when it comes to holiday shopping. But what if we also applied the same thoughts to investments?
This is exactly what’s happening with so many companies right now. There are Black Friday sales all over the place, and that could lead you to financial independence to retire early (FIRE).
So, without further preamble, here are the three Black Friday sales to buy today.
Of the Big Six banks, Canadian Imperial Bank of Commerce (TSX:CM) offers a superior deal. That’s because this bank offers you the protection during a recession with provisions for loan losses, and the best dividend of the batch.
On top of that, CIBC stock is in growth mode, with a huge focus on its customer service. And yet it’s still a FIRE stock that’s perfect to pick up this Black Friday. Shares trade at just 9.38 times earnings, offering an incredible 5.19% dividend yield.
With shares down 8.35% year to date, you can grab it far below where it was back in January. Then you can lock in strong growth, with shares up 163% in the last decade. That’s a compound annual growth rate (CAGR) of 10% as of writing.
Another strong choice is Nutrien (TSX:NTR), despite showing some volatility in the last few months. Nutrien stock is the perfect choice this Black Friday among FIRE stocks. It offers stability through its investment in crop nutrients, and growth from signing on new long-term agreements from sanctions on Russian potash.
Plus, the company has brought the industry into the 21st century, with its e-commerce arm expanding its revenue. And yet, with shares reaching all-time highs after the Russian invasion of Ukraine, those shares dropped when interest rates and inflation caused a downturn.
Now, Nutrien stock offerings shares trading at 5.88 times earnings, a dividend yield at 2.45%, and shares down 21% from all-time highs.
Another solid long-term option this Black Friday is Teck Resources (TSX:TECK.B). Again, on the surface you might think it’s not the best deal. It’s been booming the last few months, after all. But fundamentals would disagree with that notion.
Teck stock deals with the mining of essentials products such as fertilizers, silver, copper and steel-making coal. It’s also improving its balance sheet through a sale that brought in half a billion dollars. Now, shares are still up 26% year to date!
Even so, those same shares are down 21% from 52-week highs. Plus, it offers a dividend yield of 1.09%, trading at just 5.41 times earnings. Shares are up 69% in the last decade alone as well, offering a CAGR of 5.41%.
Black Friday isn’t just about buying products. It can also be able getting great deals on investments as well. Investments that will not only bring in strong returns in the short term but could be FIRE stocks just waiting to turn your portfolio from good to great.
The post Black Friday Sale! Grab These FIRE Stocks Before it’s Too Late appeared first on The Motley Fool Canada.
Before you consider CIBC, you'll want to hear this.
Our market-beating analyst team just revealed what they believe are the 5 best stocks for investors to buy in November 2022 ... and CIBC wasn't on the list.
The online investing service they've run for nearly a decade, Motley Fool Stock Advisor Canada, is beating the TSX by 15 percentage points. And right now, they think there are 5 stocks that are better buys.
See the 5 Stocks * Returns as of 11/4/22
Fool contributor Amy Legate-Wolfe has positions in CANADIAN IMPERIAL BANK OF COMMERCE. The Motley Fool recommends Nutrien Ltd. The Motley Fool has a disclosure policy.