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  5. GFL: Any reason for the decline in price in GFL? [GFL Environmental Inc. subordinate voting shares]
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Q: Any reason for the decline in price in GFL? Is this a buy or hold at this price?

Thanks
Asked on December 24, 2025
5i Research Answer:

GFL is down 8% this year but we see no recent materially negative news. Its Q3 earnings were fine, but it has missed estimates in six of the last eight quarters. We think it is a victim of some year-end positioning and sector rotation as tech surges again. We see no real new negatives here other than its usual high valuation.