Q: What are your thoughts on the new spinoff? It got hit badly on the first day of trading but that may provide an opportunity.
5i Research Answer:
Canada Packers has a $510 mln market-cap and is a spin off from Maple Leaf and has more of a pork focus. Often times, these names can be weak for a a few weeks, as shares start to land in accounts for those who owned Maple Leaf. Often times these can just get indiscriminately sold, weighing on shares. It is a name to watch but we don't think an investor needs to rush into it.