Written by Puja Tayal at The Motley Fool Canada
The Canadian stock market saw a slump in April after the U.S. March inflation numbers made economists bearish on rate cuts. Since April 2022, the TSX has been sensitive to interest rate updates as a sharp jump in rates from 0.25% to 5% pulled money out of the market. Those paying $25 interest are now paying $500 in interest, leaving little money for expansion and investments. Consequently, companies with high leverage saw their share price slump to its lowest. The declines have created an opportunity to buy two cheap stocks in your Tax-Free Savings Account (TFSA) before they get expensive.
Two cheap stocks to add to your TFSA
BlackBerry stock
BlackBerry (TSX:BB) stock has been trading near its 20-year low since February when the company renewed its debentures at a higher interest rate. Its primary shareholder Fairfax Holdings increased its stake in…
