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Opinions Benj Gallander
GMP Capital Trust IncGMP.TOTOP PICKFeb 27, 2018
Benj GallanderStock price when the opinion was issued
As of Nov 23, 2020. Market Open.
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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
They’ve had trouble. They are involved in two major areas: (1) raising money for companies in commodities and oil & gas, has gone poorly. Revenues have gone down. (2) Richardson Securities has gone well and the takeover by Scotia in this area has made Richardson more attractive. GMP Capital is raising funds in cannabis and cybercurrency so this is a way to play those areas that is lower risk than buying the financed companies. (Analysts’ price target was not provided on the show)