Market Movers: Else Nutrition
Plant-based baby formula startup Else Nutrition Holdings Inc. (TSXV: BABY) has been a fixture of the TSX.V high-volume traders this week, averaging 1.6 million shares per day over the past 5 days, 10x the 168,000 shares per day it averaged in the 360 days prior. Price action came with it, as Else gained $0.81 over […]
Zenabis Reportedly Signs Arrangement With Choklat, Namaste Walks
It appears that the recent troubles experienced between Namaste Tech (TSXV: N) and its 49% interest in Choklat have come to a final tipping point. This evening, Choklat publicly announced via its Facebook page that the company has signed with Zenabis Global (TSX: ZENA) to “assist in taking our chocolate to market.” While Zenabis has […]
Bank of Canada Predicts Slow, Uneven Economic Recovery
The coronavirus pandemic brought about significant changes to Canada’s economy, causing many Canadians to change their behaviour in terms of consumption. As a result, the Bank of Canada (BOC) is anticipating the country’s recovery to take place in two stages, as Canadians gradually begin to revert to pre-pandemic output. According to Deputy Governor Lawrence Schembri, […]
Canada’s Federal Deficit Could Reach $256 Billion as a Result of Coronavirus Pandemic
According to the latest scenario analysis, Canada’s budget deficit could run as a high as $256 billion in the wake of the coronavirus pandemic. Parliamentary Budget Officer Yves Giroux updated his previous deficit figure estimate by $3.8 billion, stating a more positive economic outlook as the reasoning behind an offset in government spending. The figure […]
Pyxus International Suspended, Delisted From NYSE
Pyxus International (OTC: PYXSQ) has seen its shares suspended from trading and delisted from the New York Stock Exchange as of today as a result of the company seeking Chapter 11 bankruptcy protection. The notification of the delisting was received by the company earlier today. Pyxus has indicated that it doesn’t intend to appeal the […]
Wirecard Suspends Chief Operating Officer After $1.9 Billion Euros Goes Missing, CEO Resigns
Wirecard AG, a German financial services and payment processing company has recently been the subject of a significant scandal, which resulted in the company’s shares falling by as much as 71.4%. According to a statement released by Wirecard on Thursday, the company’s chief operating officer Jan Marsalek was suspended on a revocable basis after 1.9 […]
Medipharm Labs Sees PI Financial, Mackie Research Drop Estimates, Price Targets
Medipharm Labs (TSX: LABS) reported Q1 2020 results on Thursday, June 18, which showed it’s revenue drop by 66% on a quarter over quarter basis and 49% year over year. Further, the company posted a negative gross profit of $10.9 million due to an inventory write-down of $12.81 million because of price compression. The CEO […]
Bank of England Announces Increase To Quantitative Easing, Keeps Interest Rate at 0.1%
Much like the US, the UK economy also came to a standstill from coronavirus lockdowns and stay-at-home orders. As a result, the economy contracted by as much as 25% between March and April, with an unemployment rate remaining above 5% until at least 2022. Although coronavirus cases are still on the rise, the economy has […]
Canadian Wholesale Trade Fell by 21.6% in April Amid Coronavirus Pandemic
The coronavirus pandemic caused many businesses across Canada to shut their doors, while consumers were instructed to stay at home and practice social distancing as means of reducing the spread of the virus. As a result, recent Statistics Canada data found that Canadian wholesale trade fell to the lowest level since 2013, with all subsectors […]
Zenabis Sees $0.13 Financing Upsized To $20.5 Million
It appears that the dilution coming to Zenabis Global (TSX: ZENA) is worse than previously thought in light of the raise announced last night. The benefit however, is that the company has upsized the financing to a whopping $20.5 million in gross proceeds. The company announced this morning that it will be issuing 157.6 million […]