Topic: How To Invest

What is Pat’s commentary for the week of June 30, 2020

Article Excerpt

NortonLifeLock is the new name for Symantec—one of our long-time tech stock favourites. The company changed its name following the sale late last year of its corporate cybersecurity business. Brokers and traders are inclined to say that the asset sale gives the company’s investors exposure to the leading “pure-play” provider of consumer cybersecurity and identity-protection software. That choice of words reflects their emphasis on short-term developments in companies and the market. We see the company’s change in corporate direction as a redirection of its business model that is likely to improve the company’s long-term business success. We first recommended Symantec in the June 1999 issue of Stock Pickers Digest at $2.88 (adjusted for three 2-for-1 splits). It’s now up a whopping 1,143.1% since then. That return includes two special dividends—$4 in March 2016 and a $12-a-share special payout in January 2020. We also recommended Symantec as our #1 Pick of the Year several times, with great success for our readers. Spectacular one-year gains…

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