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Don’t look now, but long-time laggard Manulife Financial (TSX:MFC) is finally starting to pick up speed, and it’s about time. The Canadian insurance firm has done a fantastic job of navigating various macro headwinds, with the latest (first) quarter witnessing considerable year-over-year growth in sales and net income.
Indeed, Manulife seems to be back. But the big question is whether the latest rally is worth getting behind. As you may know, chasing the heat is not the best idea for value investors.
That said, if the recent results, fundamentals, and new growth trajectory have improved markedly above your expectations, it can make sense to buy a stock after a substantial run, provided you’re willing to buy more shares on a near-term pullback. Indeed, sometimes rallies tend to overextend, warranting a big correction.
Manulife stock’s run could extend
When it comes to shares of MFC, they’re…
