Goodfood Market Corp's stock has seen significant declines in 2023, with no major news this week.
Goodfood Market Corp (FOOD.TO) has had a tough year, with its stock price dropping over 90% year-to-date. This week, the stock remained stable, closing at C$0.03, with no new significant factors affecting its price. Investors are closely watching the company's financial health as it navigates a challenging retail environment.
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Goodfood Market Corp
FOOD.TO
FOOD.TO
Goodfood Market Corp
WealthAwesomeMarket cap
$2.99M
52W high
$0.38
52W low
$0.03
1W change
+0.00%
Beta
0.99
Analyst Price Targets
Based on analyst covering FOOD
Wall Street analysts forecast FOOD stock price to rise 66.7% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$0.05
+66.7% Upside
Current Price
C$0.03
Last close
Analyst ratings and price targets are updated periodically. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on FOOD's historical volatility
30-Day Vol
344.7%
Annualized
90-Day Vol
209.4%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$0.03
Expected price
| Horizon | Expected | 68% Range (1ฯ) |
|---|---|---|
| 30 trading days | C$0.03 | C$0.01 โ C$0.09 |
| 60 trading days | C$0.03 | C$0.00 โ C$0.14 |
| 90 trading days | C$0.03 | C$0.00 โ C$0.20 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ยฑ1ฯ, 95% band = ยฑ2ฯ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Investor takeaway: Goodfood's recent performance highlights the ongoing struggles in the meal kit delivery sector. While the company is reviewing strategic alternatives, investors should remain cautious due to the substantial decline in market value and uncertain recovery prospects.
Goodfood Market Corp's stock is down 91.04% year-to-date.
The company's market cap has shrunk to approximately C$2.99 million, reflecting its struggles in a competitive consumer discretionary sector.
Bull case
Analysts have an average target of C$0.05 for Goodfood, indicating potential upside from current levels. If the company can successfully implement its strategic reset focused on cash generation, it might stabilize its financial position and regain investor confidence.
Bear case
Goodfood's stock has lost over 90% of its value this year, highlighting serious operational challenges and a negative profit margin. The ongoing review of strategic alternatives and recent court filings under the CCAA suggest significant financial distress, which could hinder recovery efforts.
Recent Price Action
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Goodfood Market Corp's stock closed at C$0.03, with no change in price over the last trading day. The stock has seen a decline of 80% over the past month and a staggering 91.04% year-to-date. Volume for the stock reached 3,389,075 shares, nearly double the 20-day average volume of 1,713,004 shares.
Company News and Outlook
This week, Goodfood did not release any significant news that would impact investor sentiment. However, the company has been under scrutiny following its announcement of a review of strategic alternatives aimed at stabilizing its financial position. This comes amid ongoing operational challenges and recent court filings under the Companies' Creditors Arrangement Act (CCAA).
Technical Picture
From a technical standpoint, Goodfood's stock is currently trading well below its 50-day moving average of C$0.12 and its 200-day moving average of C$0.22, indicating a bearish trend. The stock has a 52-week range of C$0.03 to C$0.38, with the current price at the lower end of this range. The beta of 0.99 suggests that the stock's volatility is in line with the broader market.
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