The Canadian Broadcast Media Network is one of the most prestigious networks in the country.
But it’s also one of those rarest stocks: no one knows how much the stock is worth.
The stock has been trading around $12.10 since January, but it dropped almost 40% in just the last two months.
“It’s a tough one to buy and sell, but we have to be patient,” said Paul Fauci, managing director at Wealthfront.
“We’ve been buying for a while.”
The network is owned by the Toronto-based Rogers Communications.
Fauctier said the company has invested a total of $30 million in the stock since it was launched in 2014.
The network has been known for its smart marketing and content.
The company created a network of smart brands for its Canadian sports networks, including CBC Sports, the CBC Sports Network, Rogers Sports Network and Rogers Kids.
Fucetier said that the network is also heavily invested in health and wellness brands.
“The networks focus on quality content, but also the content is very well crafted and well curated,” Fucets said.
“There’s a lot of quality content in the network that is relevant to health and well being.”
In fact, the network has produced more than 600 videos on wellness and fitness in the last 12 months, with more than 400 of those videos being on its website.
But the stock has fallen so steeply, that Fucettier said it’s “not really a very good buy right now.”
That’s because the stock currently trades at just $10.75.
That’s down from its peak of $13.60 in January and the recent 30-day moving average of $15.50.
Fauset said it may take several years for the stock to bounce back.
“I would say that it’s probably a bit of a hold, but if it does come back in the market it will probably be the only one in the long run that we would want to buy,” he said.
Faucettier also said that it will be tough to predict how the stock will fare in the future.
The shares are valued at $2.6 billion, but that number has more to do with how well the company is doing and how much it’s investing in the brand.
Fancier said he believes the company can return to profitability, but said he isn’t sold on the stock yet.
“To say that we’re at the point where we’re a profitable company, that’s not happening,” Fauccio said.
The Globe and Mail is not a broker or investment advisor.
This story was updated at 12:00 p.m. to correct that the stock was valued at just over $10, it was worth over $20.