Indebted Airbnb Superhosts Faced With Financial Difficulties Amid Pandemic
Nationwide lockdowns have ravaged the US economy, significantly reducing a multitude of industries to bare bones. One of the industries hit the hardest amidst the coronavirus pandemic has been the travel and hospitality industry, of which a significant hit has been laid upon Airbnb superhosts. Airbnb is an online company which connects homeowners willing to […]
Champignon Closes AltMed Transaction, Partners With Leading Canadian Pharmacy
Champignon Brands (CSE: SHRM) today announced that it has partnered with a major pharmacy chain within Canada to dispense its ketamine topical prescription product throughout the network. While the pharmacy chain was not addressed by name, it is said to be one of the leading chains within the country. Under the arrangement, Champignon will see […]
CIBC Reduces Cannabis Sales Forecast for 2020
One of Canada’s main banking subsidiaries, CIBC Capital Markets, has reduced its adult-use cannabis forecast for 2020 to $2.5 billion. The predicted decrease in recreational cannabis sales stems from a slow roll-out of retail stores in several significant provinces, in addition to the closing of store locations across the country amid the coronavirus pandemic. CIBC […]
Pending US Home Sales Plummet to 2011 Levels
New home sales have taken a dive to historic lows in March, as lockdown measures and stay-at-home orders have been put in place across the US. However, the problem does not stop there: now, according to recent data released by the National Association of Realtors, the pending home sales category has also suffered much the […]
US Loses Another 3.8M Jobs Last week; Nearly 30M in 6 Weeks.
This morning the Department of Labor released the initial jobless claims data for the week ending April 25, the advance figure for seasonally adjusted initial claims was 3,839,000, another decline in data, however cumulatively we are now at over 30M claims over the last 6 weeks. The four week moving average from jobless claims has […]
Car Rental Company Hertz Preparing for Bankruptcy Filing
As the rapid spread of the coronavirus resulted in economic lockdowns and stay-at-home orders, many companies have been struggling to remain afloat – especially the ones concentrated in the travel industry. According to a recent Wall Street Journal report, the car rental provider Hertz Global (NYSE: HTZ) has been so negatively impacted by coronavirus restrictions, […]
Auxly Cannabis Records 2019 Revenues of $8.3 Million, Net Loss of $108.6 Million
Auxly Cannabis (TSXV: XLY) reported its fourth quarter and full fiscal year earnings late last night, recognizing net revenues of $3.1 million during the quarter, as compared to $1.61 million in the third quarter. Annual net revenues were pegged at $8.35 million while recognizing a net loss of $108.6 million. The results were rather disappointing […]
CloudMD’s Livecare Added To Approved Vendor Lists For Leading Government Associations
CloudMD Software & Services (CSE: DOC) this morning updated the market on the significant growth seen by Livecare, the firms stand-alone telehealth platform. Most significantly, the company has been added to approved vendor lists with leading government healthcare associations across Canada, which includes Doctors of BC, OntarioMD, and a number of other associations that represent […]
Precious Metals Mining Significantly Impacted by Global Lockdowns
The coronavirus pandemic has demolished economies worldwide, causing countries to impose mandatory lockdowns and safety measures as a way of mitigating the spread of the deadly virus. One of the industries impacted by the pandemic has been mining operations, which were either forced to completely shut down or partially shut down their operations. Many countries […]
US Economy Suffers Significant GDP Decline in First Quarter, Unemployment Levels to Continue Soaring
The US Commerce Department has issued a grim statement regarding the current state of the economy as the coronavirus continues to wreak havoc across the country. In just the first quarter, GDP has been reduced by 4.8%, with even worse declines predicted for the second quarter, according to Federal Reserve Chairman Jerome Powell. The US […]