Shopify, Cargojet Among Canada’s Big Winners in Year of Slight Index Gain

Michael Bellusci, Bloomberg News

The Shopify headquarters as snow falls in Ottawa, Ontario, Canada, on Sunday, Nov. 22, 2020. Shopify Inc. expects a banner holiday season as the worsening pandemic encourages more consumers to shop online and buy from the small businesses that sell through its platform. , Bloomberg

(Bloomberg) -- Canadian equities closed out 2020 with a slight gain, though lagged their peers south of the border.

The S&P/TSX Composite Index advanced 2.2% this year, while the S&P 500 Index rose 16%. Oil & gas stocks were among laggards as lockdowns continued, denting demand.

Here’s a look at some companies that benefited -- and those that have suffered this year.

Winners:

Trillium Therapeutics Inc. (+1,308%): Cancer drug developer surged after data, and has been a hedge fund favorite
Ballard Power Systems Inc. (+221%): Clean energy and electric-vehicle exposure has propelled Ballard
Shopify Inc. (+178%) and Lightspeed POS Inc. (+149%): Tech platforms surged during Covid-19 lockdowns, and the two have emerged as Canadian tech darlings
New Gold Inc. (+143%) and Teranga Gold Corp. (+95%): Gold acted as a haven during the pandemic, while fiscal uncertainty remains
Cargojet Inc. (+108%): Cargo shipping has hit peak levels as many retail storefronts remain closed during lockdowns
Canfor Corp. (+89%): Lockdowns boosted lumber futures on home renovations

Losers:

Suncor Energy Inc. (-50%), Inter Pipeline Ltd. (-47%), Cenovus Energy Inc. (-41%): Energy stocks lagged as oil briefly turned negative in the early stages of lockdowns along with a Saudi-Russia price war
Air Canada (-53%): Travel bans crushed global flying
Cominar Real Estate Investment Trust (-43%): Quebec REIT looking at strategic alternatives given office and retail exposure