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Mar 17, 2017

‘The proof will be in the pudding’: Why one investor already cashed out of Canada Goose

Why this investor already cashed out of Canada Goose

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It was a blockbuster start to Canada Goose’s life as a public company – now its test is keeping shareholders happy over the long term.

The parka maker's stock closed almost 27 per cent higher on Thursday in its first day of trading on the Toronto Stock Exchange. After day-one hype, the company’s CEO made it clear he’s gunning for more than one day of fireworks. “Obviously we are really flattered that stock market prices have traded up and things are looking really good,” Dani Reiss told BNN Thursday afernoon. “We’re looking at this in the long term. We have always been aiming to deliver long-term shareholder value.” 

Bruce Campbell isn't sticking around to see how that plays out.

Canada Goose dual-class structure okay — for now: Finance professor

Canada Goose shares continue to rise following its market debut. But the company's dual-class share structure could present problems down the line, according to David Goldreich, professor of finance at the Rotman School of Management. He breaks down the risks and rewards of employing dual-class shares.

The president of Oakville, Ont.-based boutique investment shop Campbell, Lee & Ross Investment Management cashed out after Canada Goose burst out of the gates in early trading Thursday.

"You have to remember, there's great companies and then there's great stocks," Campbell told BNN in an interview Friday. "So here's one where we thought it was no longer a great stock to own at 40x earnings. So we're no longer shareholders."

Campbell added he thinks Canada Goose shares will be range-bound between roughly $17 and $20 for a while.

"The proof will be in the pudding, but it will take a while. I suspect the stock doesn't flounder, but it maybe trades in a pretty wide range."

 

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