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Wednesday, May 29, 2019

Mysterious Mainstreet Equity Corp. (MEQ)

Again today, the TSX didn't exactly perform today,  but that doesn't matter, because I got another good news today! Bank of Montreal (BMO) had increased its dividend distribution. I am not getting a huge amount out of this. I actually have only enough to buy a coffee, but free money is free money. My non-registered and TFSA dividend income is now at $7 315.69. If I include the dividend earn inside my RRSP, I am now at $8 669.89. 

I am not in a rush to place my new investment, I actually feel good, for once, to have some money in my bank account. But with me, we never know. I sometimes change my mind on things. I continue to look at Mainstreet Equity Corp. (MEQ), but I notice something strange. On May 28, MEQ had no activity what so ever on the TSX!!! Check it for yourself:

And between May 25 and May 26 - no trade at all! The reason why I keep checking on Mainstreet Equity Corp. (MEQ) is because of it's a very beautiful overall chart. That's the type of stock I am looking for. It's risky to invest in stocks, but it might be even riskier to invest in a stock that doesn't register any activity at all for one to two days in a row. I really don't know. And on top of this little problem, MEQ doesn't pay any dividend. And that little tiny annual distribution of mine of $8 669.89 need to beef up. At this time, Brookfield Asset Management Inc. Class A Limited Voting Shares (BAM.A) seem to be a better stock pick. 

But no real stock pick, for now, I am not in a rush to place my next investment. If I can leave some money in my bank account for once, I will be really really proud of myself. Let see if I can keep in the control.


Anonymous said...

Hi Sunny,
I am pretty sure that May 25 and 26 were on a weekend so that explains why there was no trading on those days. MEQ is a pretty small company with a market cap of only $526 million. With the low daily trading volumes, there is definitely some risk if you need to sell in a hurry. Buyer beware!


Sunny said...

Thanks for sharing. That makes sense.

Anonymous said...

I don't like stocks with low volume. If they tank chances are it will be very hard to sell. I prefer stocks that trade with a 100,000 share volume. Keep up the interesting blog!!


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