Owner of Robertson Trading surveys wildfire damage that burned historic building to the ground
Scott Robertson said the store held a lifetime's worth of Indigenous artwork, beadwork and history.
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Globe and Mail
an hour ago
- Globe and Mail
Why Netflix Should Replace Tesla in the "Magnificent Seven"
Looking back over the past decade and beyond, I don't think there are many folks out there who would deny just how impressive Tesla 's success has been. This innovative business, led by polarizing CEO Elon Musk, disrupted the global auto industry with its electric vehicles (EVs). While the EV stock trades 32% below its peak (as of June 10), that's still a gain of 1,810% in the past 10 years. That long-term performance made it one of the world's largest tech companies, which is why Bank of America analyst Michael Hartnett gave it a spot in the " Magnificent Seven" when he introduced the idea of the group in 2023. However, I think it's time to swap the EV maker out of this unofficial grouping and replace it with the more-deserving Netflix (NASDAQ: NFLX). Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Tesla's struggles are hard to ignore Over the years, Tesla shareholders grew used to seeing the company register jaw-dropping sales growth. The picture isn't so rosy anymore, though. Its automotive revenue declined 20% year over year in Q1. In 2024, it reported its first-ever year-over-year drop in deliveries. And the company's profitability has continued to slide as higher interest rates and a more competitive environment have put downward pressure on demand for its vehicles. Musk's push in the political arena might at first have been viewed positively by some investors, as he was positioning himself to have more influence in Washington, D.C., which could have benefited Tesla from a regulatory perspective. But both his time in President Donald Trump's inner circle and his more recent exit from politics, as well as his highly public spat with Trump, have been huge distractions that have certainly damaged Tesla's brand instead. It's safe to say that a company that was once in the fast lane is now stuck in traffic. Tesla will have a lot of work to do in order to get back to its prior glory. Netflix just keeps winning While Tesla faces a battle to get itself back on track, Netflix continues to flourish. The streaming stock is up 1,200% in the last decade. The company added 41 million net new customers in 2024, bringing its total to nearly 302 million at year's end. While Netflix chose to stop publicly reporting the number of subscribers it has starting this year, it did increase revenue by 12.5% year over year in the first quarter. It might seem like this streaming platform has saturated its market. However, co-CEO Greg Peters believes there are still "hundreds of millions of folks to sign up." By continuing to focus on creating compelling content offerings all over the world, Netflix is in a position to keep its expansion going. Wall Street's consensus analyst estimates are for its revenue to rise at a compound annual rate of 12.3% between 2024 and 2027. The streaming industry, like the automotive market, is extremely competitive. Netflix co-founder and former CEO Reed Hastings previously said that he counts sleep among the company's key competitors. I don't believe this was a stretch. Netflix goes up against all the other activities consumers can do when it's time to wind down and relax. But to be more specific, people have an almost unlimited number of viewing options at their fingertips today. Netflix is in the lead, though. Data from Nielsen shows that Netflix commanded 7.5% of video viewing time in the U.S. in April, only behind YouTube, which isn't necessarily an apples-to-apples comparison due to the latter largely featuring user-generated content. With its massive subscriber base, and trailing 12-month revenue of $40 billion, Netflix has the financial strength to spend a lot on content and marketing. And it's still able to bring in billions in free cash flow each year. It's important to highlight that the "Magnificent Seven" is not an official index like the S&P 500 is. However, with each passing quarter, Netflix continues to make the case that it deserves to be mentioned with the tech giants in that group. Given the streaming pioneer's ongoing success, it belongs in that exclusive club instead of Tesla. Should you invest $1,000 in Netflix right now? Before you buy stock in Netflix, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Netflix wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,702!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $870,207!* Now, it's worth noting Stock Advisor 's total average return is988% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025
CTV News
an hour ago
- CTV News
Work begins on new St. Boniface apartment complex
A sod-turning took place to mark construction of an eight-storey apartment complex in St. Boniface. Work is underway to build a new apartment complex on Provencher Boulevard, a project aimed at helping to revitalize the St. Boniface street and addressing Winnipeg's housing shortage. Government officials and developers picked up shovels Friday for a sod-turning ceremony, marking the next phase in the creation of Promenade Provencher. Winnipeg Mayor Scott Gillingham said the project comes at a time when housing is sorely needed. 'We know that our city needs more housing at every level, from supportive housing to affordable housing to at-market rental units,' he said. Promenade Provencher Government and development officials are pictured at a June 13, 2025 sod-turning ceremony to kick off construction of the Promenade Provencher apartment complex. (Jamie Dowsett/CTV News Winnipeg) The eight-storey apartment complex at 159 Provencher Blvd. will have 94 units, as well as ground-floor retail space and second-floor commercial offices, which will house an engineering firm. Carrington Real Estate, the developer behind the project, said the design is in keeping with the corridor's charm and historic character. The company collaborated with Entreprises Riel – an economic development agency that promotes French language in business and tourism in the Riel district. Provencher Promenade A computer rendering shows the proposed suite design in the Promenade Provencher development. (Carrington Real Estate) 'This is an exciting day and a fruition of 20 years of work on behalf of Entreprises Riel on assembling the lands on which Carrington Real Estate will be building their building today,' said Entreprises Riel President Pascal Toupin-Selinger. The developer estimates Promenade Provencher will be open by spring 2027.
CTV News
an hour ago
- CTV News
Costco onto next step to build new Manitoba store
FILE - A lone shopper pushes a cart toward the entrance of a Costco warehouse, March 13, 2025, in Sheridan, Colo. (AP Photo/David Zalubowski, File) Costco has cleared a hurdle in its bid to build another Manitoba location. Public hearings were held at the RM of West St. Paul's council meeting Thursday night for two variance applications associated with the potential new store. One is a conditional use application for a proposed auto service station and a garden centre, and the other is a separate variance application to reduce required loading space. Mayor Peter Truijen told CTV News feedback at the public hearings was largely positive, and council voted unanimously on both applications. 'A lot of people think this is a good thing,' he said. Next, the wholesaler will need to submit a development agreement to council, the mayor explained, which would also require a vote. The proposed 161,992-square-foot store would be built on Meadowland Drive. Truijen believes the store will attract Manitobans from a number of communities. 'It's right on the Perimeter. It's pretty easy access for a lot of residents, not just West St. Paul, but Selkirk, St. Clements—lots of places north of the city.'
