Technology stocks

5 tech stocks for June 2022

On Friday, May 27, the S&P/TSX Capped Information Technology Index gained 2.36%. Since the beginning of the month (MTD), it was in the red by 2.91%.

The technology sector is having a bad year, so far. Tech stocks can be growth stocks, but factors like war and inflation can make the market bearish.

At these times, some investors may withdraw money from these stocks and put them into more stable investments, including bonds.

The S&P/TSX capped information technology index has lost almost 35% since the start of the year. But heading into June, there seems to be a sense of optimism with the TSX Composite Index posting gains for six straight days.

So let’s look at some TSX tech stocks that are an interesting watch in June.

BlackBerry (TSX: BB)

BB ended Friday at C$8.34 and is rebounding after falling for most of this year. BB has gained nearly 10% in a week and so far in May is in the green 14.5%.

The C$4.8 billion market capitalization company has a price-to-earnings (P/E) ratio of 224.3, the amount of dollars required for investment for every dollar of gain.

VIQ Solutions Inc (TSX:VQS)

VQS closed Friday at C$2.08 and has galloped 64% in the past week. MTD, its increased by about 39 percent.

It is nearly 90% higher than it was on May 20, when it hit a one-year low of CA$1.10. The company recorded a net loss of C$2 million in the first quarter of 2022, which explains why it has a negative P/E ratio of 2.2.


The TCS closed at C$29.61 on Friday and its one-week gain is 7.7%. In the last month, it has increased by about 15%.

TCS has a quarterly dividend of C$0.07 and a dividend yield of 0.95%. Its P/E ratio is 109.7.

Read also : ICYMI, investors! Top 10 TSX stocks for June 2022

Absolute Software Corp (TSX:ABST)

ABST was the only stock on this list that was in the green on a year-to-date basis, as it closed Friday at C$11.91. Its growth over the past week has been 2.5%.

Its net loss for Q3 2022 was C$6.5 million and its P/E ratio is negative at 20.9. However, it has a dividend yield of 2.69%.

Over the past month, it has gained over 19%.

mdf commerce inc (TSX:MDF)

MDF had gained nearly 6% for the week when it closed Friday at C$2.65. In the last month, it has increased by more than 13%.

It is 18% above its one-year low of C$2.25 seen on April 27. The stock has lost 75.4% over the past 12 months.

At the end of the line

Although the sector has suffered losses this year, technology is at the heart of progress and technology stocks could see relatively faster growth, generally speaking. Some technology companies may incur losses when researching and developing new products.

The stocks above are on the rebound and in the green on a one-month basis. They make for an interesting watch in June 2022.

Read also : FFN, DF, DGS, LCS and FTN: Top 5 TSX Dividend Stocks Under $10

Please note that the above content is a very preliminary industry-based observation and is of limited scope without any fundamental assessment or in-depth technical analysis. Any interest in stocks or sectors should be carefully assessed taking into account the associated risks.