The recent rally in the Canadian stock market gained pace in 2024 as a better-than-feared economic environment, early signs of easing inflationary pressures, and an improved borrowing environment boosted investors’ confidence. As a result, the TSX Composite benchmark jumped 18% last year.
Amid this strong market performance, one top growth stock, MDA Space (TSX:MDA), has skyrocketed 151% over the last 12 months, far outpacing the TSX Composite’s 21% return during the same period. MDA, a leader in space technology, has been on a remarkable growth trajectory, further bolstered by its inclusion in the TSX Composite Index in March 2024.
As we look ahead to 2025, many investors are wondering if MDA’s rally has more room to run. Let’s dive into the key drivers behind MDA’s extraordinary performance to see whether the stock has the potential to double again this year.
Key drivers of MDA stock’s rally
Besides MDA Space’s…
