A majority of common stocks on the Toronto Stock Exchange saw their values go up in 2024, a particularly strong year for the markets — but not every company delivered strong performance.
Among the 250-odd companies that have share prices lower Monday than at the start of the year, over 40 have lost half their value or more. At the lowest end, eight listed companies have dropped around 90 per cent so far this year. Corus Entertainment (CJR-B.TO) may be the best known of the group. The company’s stock is down just under 89 per cent in 2024, with its market capitalization currently at around $16 million.
Markets are unpredictable as a rule, so any of these companies could see stunning gains before the close on December 31, but as at market close one day earlier, they are the TSX’s worst performers so far this year.
The companies in the negative 90 per cent range operate in a variety of sectors, including communications, energy, healthcare, utilities, industrials and consumer defensive.
Corus’ share price crashed this year, with major drops after disappointing second-quarter earnings and then following an announcement that the company’s content deal with Warner Brothers Discovery would not be renewed in 2025.
In spite of the company’s weak performance, senior executives at Corus earned a total of over $1.8 million in bonus pay in 2024, company shareholder documents show.
At the bottom of the low performers list sit Else Nutrition Holdings (BABY.TO), an Israel-based health food company currently down 93.1 per cent on the year, and Tidewater Renewables (LCFS.TO), a renewable fuels company headquartered in Calgary, with shares down 91.5 per cent so far in 2024.
Tidewater Renewables’ parent company, the oil and gas infrastructure company Tidewater Midstream and Infrastructure (TWM.TO), has seen its share price tumble around 88 per cent this year.
In the healthcare sector, biotech companies BriaCell Therapeutics (BCT.TO) of West Vancouver and Aptose Biosciences (APS.TO) of Toronto are both down over 89 per cent in 2024. Avant Brands (AVNT.TO), a cannabis company based in Kelowna, B.C., has fallen some 87 per cent.
Shares of Exro Technologies (EXRO.TO), a Calgary-based electronics company, are also down around 90 per cent this year.
John MacFarlane is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jmacf.
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