Savvy Trades and Investments

[maxluke1]

ADFJF/DRX-TO - I've owned it about 5 different times between early 2019 and mid 2022. Made out just fine on it, but have been surprised by the move.

The fundamentals have always been solid. The trading is typically bizarre, although it may improve with increased attention (HMM-A.TO may be a comparable stock story; no one gave a crap until they did).

Recollecting my past DD (that's likely very rusty, since it's from 2019 to 2022):
-Quebec-based companies often trade worse than companies based elsewhere in Canada on the TSX
-There's no doubt they are shareholder friendly
-I seem to remember that one of their main end markets is fabricating for warehouses (I think they do it for one or several of the big guys - Home Depot, Amazon, etc.)
-The new manufacturing equipment/line at the Terrebonne facility appears to have been a game changer in terms of efficiency. Previously the Montana facility seemed to be operating better
-They do fabricate stuff for sexier end markets, like stadiums, etc.
-I had trouble resolving how steel price affected them, but my main takeaway was that the surge in steel prices in 2021/2022 wasn't helpful and may have caused the stall out in the stock price. They may be benefiting now from lower prices the last several quarters or better negotiating tactics on their contracts