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Buzz on the Bullboards: Aviation, cannabis, and industrial stocks undeterred by tariff drama
Any momentum the TSX would have gathered this week quickly eroded by escalating global trade tensions.
The index opened the week on a positive note, buoyed by rising energy and materials stocks, reflecting investor optimism around strong commodity prices and a rebound in global demand.
However, sentiment quickly shifted midweek following U.S. President Donald Trump's announcement to double tariffs on imported steel and aluminum—from 25 per cent to 50 per cent.
The move, part of his so-called 'Liberation Day' trade strategy, rattled markets and reignited fears of a broader trade war. The tariffs, set to take effect in early July, will apply to all countries except the United Kingdom, which recently reached a preliminary trade agreement with Washington.
There is a lot going on to keep track of, though this is considered a time where activity seasonally slows down. Even so, users have wasted little time in searching for things to get riled up about. I'll take 'Things that never happened' for $100.
Meanwhile, the Bank of Canada held its benchmark interest rate steady at 2.75 per cent, the second consecutive rate hold following a series of seven cuts, citing tariff uncertainty as a reason to be cautious.
This stance shows the strength and diversity of Canadian equities, particularly in sectors like pharmaceuticals, aerospace, and advanced manufacturing.
MediPharm Labs (TSX:LABS, Forum), a pharmaceutical business in precision-based cannabinoids, has announced the commencement of production for its novel cannabis metered dose inhalers (MDIs) aimed at the European Union and United Kingdom markets. These discreet, smoke-free devices offer patients a fast-acting, pharmaceutical-grade alternative to traditional cannabis consumption methods.
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Manufactured under stringent Good Manufacturing Practices (GMP), the MDIs are distributed exclusively by Blackpoint Ltd., MediPharm's regional partner. The company has already launched the product in Canada and anticipates further rollouts in Australia, the EU, and the UK by Q3 2025.
This expansion comes on the heels of a $4.5 million cash sale of its Hope facility, a move aimed at streamlining operations. However, internal turbulence looms. A proxy battle with dissident shareholder Apollo Technology Capital Corp. has raised concerns about governance and financial stability. Despite these headwinds, MediPharm reported an 11 per cent revenue increase in Q1, signaling operational momentum amid strategic uncertainty.
MediPharm published a response, calling Apollo Capital 'dissidents' and they 'do not believe they are the well-intentioned and successful business leaders they portray themselves to be', saying the company is currently 'under attack'.
Even so, MediPharm stock has risen more than 7 per cent in the past five days.
Bombardier (TSX:BBD, Forum) has reached a major milestone in its Global 8000 program, with the first production aircraft completing its inaugural flight on May 16. Departing from the company's Aircraft Assembly Centre in Mississauga, Ontario, the flight marks a pivotal step toward the aircraft's entry into service in the second half of 2025.
The Global 8000 is positioned as the next evolution of the Global 7500, offering a top speed of Mach 0.94 and an industry-leading range of 8,000 nautical miles. It's designed to connect global cities like Singapore to Los Angeles and London to Perth without refueling, while also offering access to shorter runways typically reserved for smaller jets.
Inside, the aircraft redefines luxury with four true living spaces, a dedicated crew rest area, and the lowest cabin altitude in its class. With over 250,000 flight hours logged by the Global 7500, Bombardier's latest innovation is poised to capture a significant share of the ultra-long-range business jet market.
Bombardier stock has lifted nearly 2 per cent in the past five days.
Advanced materials innovator PyroGenesis (TSX:PYR, Forum) has secured a major endorsement from aerospace giant Boeing (NYSE:BA, Forum). The company's Ti64 'coarse' metal powder—used in additive manufacturing—has been officially approved and added to Boeing's qualified supplier list.
This qualification is a significant validation of PyroGenesis' proprietary plasma atomization technology, which produces high-purity metal powders for 3D printing in aerospace and defense applications. The approval opens the door to broader adoption of PyroGenesis' materials in Boeing's manufacturing ecosystem, potentially unlocking new revenue streams and long-term contracts.
In the past five days, PyroGenesis stock has climbed nearly 2 per cent.
As the aerospace industry increasingly turns to additive manufacturing for lightweight, high-performance components, PyroGenesis is well-positioned to benefit from this structural shift.
These three TSX-listed companies—MediPharm Labs, Bombardier, and PyroGenesis—are each making headlines for different reasons, from product innovation and international expansion to strategic partnerships and shareholder activism. While the TSX continues to climb, investors would be wise to dig deeper into these stories, assess the risks and opportunities, and consider how these developments align with their investment goals.
As always, thorough due diligence remains the cornerstone of smart investing.
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