Summer Sale
50% off Premium Yearly
Opinions Benj Gallander
GMP Capital Trust IncGMP.TOHOLDSep 26, 2017
Benj GallanderStock price when the opinion was issued
As of Nov 23, 2020. Market Open.
You might be interested:
Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Investors responded positively to news that avoids a proxy fight for Richardson, which they will fully take over. They are expected to buy back $40M which will result in greater per share earnings leverage. Unlock Premium - Try 5i Free
Stockchase InsightsBenj GallanderBenj GallanderHe owns the common stock and the preferred share. They have sold off their resource business side of their brokerage business. They are in wealth management only now. TD took a run at them a few years ago and it could be a possibility in the future. He will continue to hold it.
Benj Gallander
Benj GallanderBenj Gallander
Benj GallanderBenj GallanderBenj GallanderThey had a special dividend of 10 cents a share not so long ago. Crypto currency will not be so popular in the future. Their investment in the cannabis space could do well. He likes this one and where they can go. It has a chance to get to double digits but not tomorrow, and also they could get competition.
A lot of these companies have been taken over. TD-T has looked at this one. They are raising money for marijuana and crypto currency stocks. They paid a special dividend last year. It has a lot of upside potential.
Benj Gallander
Bought this last April at over $3, and it has come down since then. They have a few problems such as dealing with some lawsuits. One is obviously a rogue trader who was putting people into investments that were too risky for them. This is possibly going to court, and he doesn’t know how that is going to work out. GMP Capital has 2 sides. One is the energy side where they raise money for energy and mining companies, which has not been a great side. The other side is Richardson Securities, wealth management, which has been absolutely wonderful for them. Thought they would be taken over. He is quite content holding this, and can see how it can do a triple from this level. They had a lot of competition, but a lot of it has either folded or merged, so there is less competition.