Yahoo Finance TSX Reaches 16,000: These Are 5 of the Highest-Performing Stocks This Year
For much of the year, the TSX has been lacklustre, if not abysmal. It has only been since September that the market started its ascent and finally broke out of the up-and-down activity we have seen for much of the year.
With the TSX having recently reached a milestone at 16,000, I?ve compiled a list of five of the best-performing stocks year to date that have helped the market reach this plateau. What may surprise you is that while Canopy Growth Corp. (TSX:WEED) might have the most hype, it is not on the list, nor is any other cannabis stock.
Ballard Power Systems Inc. (TSX:BLDP)(NASDAQ:BLDP) stock has nearly tripled in 2017 with its share price rising over 190% year to date. A big reason behind the company?s growth was an announcement by Ballard back in September that it would provide hydrogen-tram buses in France with the company?s fuel cell engines.
As greener technologies and electric vehicles are growing more popular, Ballard is proving to be a key piece of that movement. These developments could be just the tip of the iceberg, and the growth potential for the company has not been unnoticed by investors.
Lithium Americas Corp. (TSX:LAC) has seen its share price rise more than 150% so far this year, and in just the past three months, the stock has achieved incredible growth. The company is still in its early growth stages, but last year, it already started recording revenue from its organoclay operations.
The big potential for the company is in the market for lithium ion batteries, which are used to charge many different consumer electronics. As Lithium Americas continues to progress in its development, so too will its stock price.
Aurinia Pharmaceuticals Inc.?s (TSX:AUP)(NASDAQ:AUPH) stock price has increased more than 160% in 2017 and has outperformed even one of the biggest names on the TSX this year. Its Voclosporin drug, which helps improve the health of patients struggling with lupus nephritis, has been progressing well this year and has fueled a lot of the company?s growth.
The company still does not have a lot of revenue on its books, so much of its ascent in price will have to come from progress it makes in clinical trials and the further development of the drug.
Westport Fuel Systems Inc. (TSX:WPRT)(NASDAQ:WPRT) is a green-energy play that focuses on providing clean-burning fuel systems that it hopes will provide for a cleaner, more sustainable world. The stock got a big boost in August on strong Q2 results that saw sales rise by 67%, while also finishing the quarter in the black.
Year to date, the stock has tripled in price, and more could be on the way, as consumers continue to demand cleaner energy sources.
Theratechnologies Inc. (TSX:TH) is the second pharmaceutical company on this list, and it focuses on improving the life of HIV patients through its products. Strong financials for fiscal 2016 helped propel the stock, with sales rising 23% year over year, and the company posting a profit for the second consecutive year.
In total, the stock has risen 180% since January, and there is plenty of room for the share price to continue to grow.
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Fool contributor David Jagielski has no position in any stocks mentioned.
