Hey, you! Are you ready to take a risk and get ahead of the game? Then listen up, because this is an opportunity you don’t want to miss! The TSX is down by a whopping 7%, and that means it’s the perfect time to make some serious investments in stocks that are way below fair value.
But wait, there’s more! We’ve got the inside scoop on the Canadian Imperial Bank of Commerce (TSX:CM), and let us tell you, it’s a solid investment option that’s too good to pass up. This bank has provisions for loan losses, which will definitely come in handy when the economic downturn ends. And if history is any indication, this bank always manages to bounce back strong after every recession.
Plus, Canadian banks have fewer competitors, giving them a huge advantage over their American counterparts. They’re laser-focused on what they’re good at, and they’re all about supporting their clients in the best way possible. CIBC is a perfect example of this – they’ve invested heavily in the Canadian economy and customer service, which has led to an influx of new clients in the past few years.
Now, here’s the best part: CIBC stock is currently trading at a measly 11.1 times earnings, and it’s down a staggering 22% in the last year. But don’t let that scare you off, because it’s got a 6.13% dividend yield, which is the highest among the Big Six Banks. And guess what? Shares recently went through a stock split, making it the cheapest Canadian bank in terms of share price.
So what are you waiting for? With shares expected to recover in the near future, CIBC stock is a valuable buy on the market today. And get this – investors can look forward to a potential upside of 31% to reach 52-week highs! That’s a once-in-a-decade opportunity that you absolutely cannot miss.
But hey, we’re not done yet. As a bonus, we’ve got some amazing news for you! For a limited time, The Motley Fool Canada is offering five top 5G stock recommendations for free to Canadian investors. Don’t wait any longer, go to our website now and start making some serious money moves!
