Published on 5 Aug 2023 on Insider Monkey via Yahoo Finance

10 Oversold Canadian Stocks To Buy

In this piece, we will take a look at ten oversold Canadian stocks to buy. If you want to skip an introduction to the Canadian economy and the stock market, then take a look at 5 Oversold Canadian Stocks To Buy.

Canada and the U.S. are tightly interlinked. The countries have a nearly two centuries-old relationship. The US and Canada are strong trading partners, with Canada being America's largest trading partner as of 2021 end.

This close relationship between the two countries also leads to several Canadian firms seeking to take advantage of America's lucrative capital markets and raising equity capital by selling shares on exchanges such as the New York Stock Exchange (NYSE) and the NASDAQ. More than two hundred Canadian firms are listed on both the Toronto Stock Exchange (the ten biggest stock exchange in the world and the third biggest in North America as of January 2023) and the NYSE and NASDAQ. This figure has grown significantly since data from the Bank of Canada shows that twenty years back, in 2003, 181 Canadian firms had listed their shares on U.S. exchanges, which itself had marked 100% growth over the previous two decades. According to the bank, some of the benefits to investors of Canadian firms from listing on U.S. exchanges include a broader risk base as more investors share it and reduced transactional costs due to greater liquidity.