Yahoo Movies Drone Delivery Canada Stock Is Skyrocketing! Here’s How High It Could Go
The market has been on a significant rally the last few weeks. Many stocks have been rallying considerably, creating great opportunities for investors. One of the biggest gainers as of late has been Drone Delivery Canada Corp (TSXV:FLT).
Drone delivery is a small-cap growth stock with some of the best potential on the TSX. Many of these stocks were always high-quality, long-term investments. However, during the uncertainty of the pandemic, investors have mostly been ignoring small-cap growth stocks. This makes sense as investors haven’t wanted to buy these higher-risk stocks during the uncertainty of the pandemic.
Now, however, as it looks like the end of the pandemic may now be in sight, the forward-looking stock market is moving quickly to rebalance, and these high potential stocks have been some of the biggest beneficiaries.
That’s one of the major reasons why Drone Delivery Canada had such a massive run-up in its share price the last few days.
The concept
The drone delivery concept is one that is relatively new. While the idea is less than a decade old, companies like Drone Delivery Canada have been working on building up the company for several years.
More recently, the company is achieving major accomplishments signing pilot partners and moving closer to launching commercially. Investors have known this for a while, which is why the momentum we are seeing today is particularly noteworthy.
Drone Delivery has had exciting news for years. Furthermore, with all the technical work that’s been done until now, it’s always been a strong takeout candidate, so any recent news may have had some impact, but it’s not causing the whole price movement.
Investors recognize that drone delivery is just the start of a massive decade long runway of growth.
Drone Delivery stock: the potential
When most people think of drone delivery, they picture what Amazon is doing, delivering online shopping orders to consumers. While this will definitely be a major role drones play, especially at first, long-term Drone Delivery Canada is imaging much more.
The company believes that its drones and drone technology could be vital for several industries such as energy, mining, the industrial sector, and healthcare, to name a few.
It’s an industry that will slowly evolve and innovate as more companies sign up as customers. So while the stock already looks attractive today, I expect it to get even more attractive over the coming years.
Should you buy the stock today?
Drone Delivery Canada is a stock I have recommended multiple times. Although this summer, the stock was ignored for the most part, it’s always offered investors a tonne of long-term potential.
In the last few days, though, it’s gained sizeable momentum making it much more expensive for investors who have been on the sideline considering an investment.
Unfortunately, nobody has a crystal ball and can tell you what the stock will do over the short-term or when is the best time to buy the stock. However, what we do know is that it looks to offer exceptional long-term potential. So if you’re buying it for the long run, you don’t have to worry about how the stock performs in the short-run.
Bottom line
Drone Delivery Canada is one of the highest potential stocks on the market. Although it has rallied by more than 40% in the last two weeks, it only has a market cap of less than $200 million, suggesting the stock still has a long way to go.
The post Drone Delivery Canada Stock Is Skyrocketing! Here’s How High It Could Go appeared first on The Motley Fool Canada.
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