Here are your stock picks for the week: April 12, 2021

Apr 12 2021, 8:08 am

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Happy Monday, everyone. We made it through another wild week.

As of Sunday, 7.9 million doses of COVID-19 vaccines have been administered across Canada. Amazon employees in Alabama rallied against forming a union, and lawmakers passed a budget that will finally tax New York millionaires more.

Oh, and Elon Musk showed how he can make a monkey control a video game using a computer chip in its brain.

As we enter the second week of the second quarter, investors will be keeping a keen eye on newbies to the trading world, with self-driving truck startup TuSimple (TSP), digital banking platform Alkami Technology (ALKT), and crypto platform Coinbase (COIN) all going public.

And, of course, here are your weekly stock picks.

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Even before the pandemic, Shopify (TSX:SHOP) (NYSE:SHOP) needed no introduction as one of the most sought-after companies to invest in. But 2020’s e-commerce boom has made shareholders very happy indeed.

If you missed out on buying stocks of the company and have been wondering when would be a good time to join the party, now might just be your time.

While last month saw the world start to return to pre-pandemic activities, revenue growth from Shopify slowed from 95% to 50%, but with Toronto just entering another strict lockdown and Vancouver eliminating indoor dining, it would appear that another surge in online shopping could be around the corner.

Absolute Software

Looking to add a cybersecurity stock to your portfolio? Vancouver-based endpoint security platform Absolute Software (TSX:ABT) (NASDAQ:ABST) has been seeing significant financial growth lately, with stocks of the company increasing by nearly 90% in the last 12 months.

Absolute expects revenue growth of 12% in 2021. And while cybersecurity is a competitive market, the company has been maintaining some steady returns in comparison to some of its peers.

Whitecap Resources

No, we’re not talking about buying stocks of the Vancouver football team, we’re talking good old-fashioned Albertan oil. Rising 140% in the last six months, Calgary-based oil company Whitecap Resources (TSX:WCP) has seen some exciting growth the past year.

The energy stock has soared above its industry competitors with a net income of $322 million in 2020’s fourth quarter. Compared with only $13 million in the one prior, this is some pretty impressive growth, and it doesn’t show signs of slowing down anytime soon.

Algonquin Power

If you’re passionate about the environment and have been looking to build up your ESG (environmental, social, governance) portfolio, utility company Algonquin Power & Utilities Corp. (TSX:AQN) (NYSE:AQN) might just be one of your best bets.

The Oakville-based company has a dividend yield of nearly 3.8% and makes 35% of its revenue from renewable power. And with the Biden administration’s focus on renewable energy, this is a great time to buy stocks in this industry.

Levi Strauss & Co.

Jean lovers, we have good news. The company behind everyone’s favourite 501s just raised its quarterly dividend from 4 cents per share to 6 cents.

Although the jeans maker reported a significant decline in its fiscal first quarter, likely due to reduced foot traffic from the pandemic, Levi’s (NYSE:LEVI) has raised its half-year revenue growth forecast, predicting revenue to rise by 24% to 25%.

M.D.C Holdings

If you’re looking to capitalize on the US’s real estate market, keep your eye on one of the country’s biggest home-builders, M.D.C Holdings (NYSE:MDC). Despite the pandemic and a decrease in housing sales, the company came out of 2020 on a roll, with its revenues surging 17% last year to $3.77 billion.

As the home builder capitalizes on increased housing demand and low mortgage rates, its revenue is expected to rise in 2021 to $5.2 billion.

Disclaimer: Market Buzz contributor has no position in any of the stocks mentioned.

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