Sundial Curtails Cultivation, Harvesting Operations To Cut Costs
Sundial Growers (NASDAQ: SNDL) announced this evening that it is curtailing cultivation and harvest operations at its cultivation facilities as a means of reducing its cost structure in response to current market conditions. In the meantime, the company will be drawing on current inventories to fulfill supply contracts while continuing with processing functions. The company […]
Grizzly Research Targets IIPR, Claims Series Of Sham Transactions, Toxic Assets
Grizzly Research has released its latest short report this morning, this time targeting the cannabis-focused REIT Innovative Industrial Properties (NYSE: IIPR) and referring to it as the “WeWork of Cannabis”. Chief among the accusations levied against IIPR is that its portfolio is chalk-full of toxic low quality assets, and that it has conducted a series […]
US Posts Another 6M Jobless Claims Week
This morning the Department of Labour announced another 6.6M Americans have filed for jobless claims in the week ending April 4th, 2020. This being the third straight week of a large jump in claims since COVID-19 measures started taking place. The advance figure for seasonally adjusted initial claims was 6,606,000, a decrease of 261,000 from […]
Kirkland Lake Sees First Quarter Production Increase 43% Year Over Year
It appears that despite current operational shutdowns, Kirkland Lake Gold (TSX: KL) (NYSE: KL) is still getting it done. Last night, the gold producer announced strong production numbers, with the firm seeing production increase 43%, or 98,985 ounces on a year over year basis to 330,864 ounces. Production was provided a strong boost by the […]
Mortgage Borrowers No Longer Making Payments Due to Economic Shutdown: A Replay of the 2008 Subprime Mortgage Crisis?
The onset of the coronavirus pandemic has initiated an economic state much too familiar of the 2008 financial crisis. The Mortgage Bankers Association (MBA), which represents the real estate finance industry, has conducted a survey analyzing the forbearance program which was recently rolled out by the US government. Due to the rapid spread of the […]
Charting The Storm and Watching The Water – Featuring The VIX And Barstool’s Own Davey Day Trader
Our best efforts to keep our readers in content that doesn’t figure to come unglued in the coming days has yielded a desk full of eraser dust, because this market is a wild one. Our stubborn roots in fundamental analysis are keeping us out of this upside down rally, as we remain plagued by the […]
Consumer Comfort Index Plummets to Record Low Amid Economic Shutdown
The Consumer Comfort Index (CCI) has plummeted in excess of 13 points over the last three weeks- an alarming observation regarding the state of the economy, since such a drastic drop has not been recorded since 1985. The Bloomberg Consumer Comfort Index is an economic wellness indicator that measures how optimistic consumers are with respect […]
Oil Climbs As Opec+ Meeting Draws Near, Production Cuts Anticipated
Oil futures rose late in the day today as we head into tomorrow’s scheduled OPEC+ meeting which is anticipated to result in production cuts globally for oil. The commonly used benchmark of West Texas Intermediate (WTI) rose as high as $26.41 per barrel in intraday trading, coming off the days low of $23.72. The rise […]
Michael Burry Suggests Nation-wide Lockdowns Detrimental to the Health of the Economy
Michael Burry, who rose to fame after making a pretty fortune off the 2008 subprime mortgage crisis, which was later published in a best-selling novel and film, has a few words to say about the current global coronavirus shutdowns. The self-made millionaire hedge fund manager has voiced his strong opinion against the pandemic lockdowns, stating […]
Revive Therapeutics Selects Novotech As APAC Contract Research Organization
Revive Therapeutics (CSE: RVV) this morning has continued its push towards studying Bucillamine as a treatment for infectious diseases. Revive announced this morning that it has selected the contract research organization (CRO) that will be utilized to further clinical trials in the Asia-Pacific region. Revive has selected Novotech as its CRO within the APAC region […]