When you’ve only got $100 to invest, it can feel like you don’t have many options. But that’s not the case. In fact, one of the smartest things you can do with a small amount of money is look for a Canadian stock that’s temporarily out of favour, but still backed by a solid business. One such name stands out right now on the TSX, and that’s Air Canada (TSX:AC).
Why Air Canada
Air Canada is Canada’s largest airline. It’s the backbone of domestic and international air travel for millions of Canadians each year. And yet, the Canadian stock is still down by more than 60% from its highs before the pandemic. As of writing, the share price hovers around $18.91. That puts it within reach for nearly any investor.
The past few years have been rough. In 2020, travel demand collapsed. Flights were grounded, borders closed, and revenue dried up. Air Canada took on debt to stay afloat and suspended services to dozens of routes….
