Kontrol Tech Sees Completion Of BioCloud Pilot Program
Kontrol Technologies (NEO: KNR) this morning issued a brief update related to its BioCloud technology, with a number of smaller items revealed by the company. Chief among the developments is the successful completion of a pilot project, while the company has also experienced expanded distribution. The first item identified by the company this morning is […]
MediPharm Labs Posts Revenues Of $5.5 Million, Net Loss Of $13.9 Million
MediPharm Labs (TSX: LABS) this morning continued its recent trend of dismal financing results, posting revenues of just $5.5 million for the period ended March 31, 2021, along with a net loss of $13.9 million for the three month period. Revenues were down 9.9% on a quarter over quarter basis from the $6.1 million in […]
Hexo Corp To Acquire 48North Cannabis For $0.175 A Share
Hexo Corp (TSX: HEXO) (NYSE: HEXO) is evidently focused on acquiring struggling Canadian cannabis cultivators. The company this morning announced that it has entered into an arrangement to acquire 48North Cannabis (TSXV: NRTH) in an all stock transaction, prior to the closing of the Zenabis Global (TSX: ZENA) acquisition. The company has justified the additional […]
Riv Capital Settles PharmHouse Guarantee With Final $7.5 Million Payment
It appears that Riv Capital (TSX: RIV) is almost out of the woods on certain debt it guaranteed for PharmHouse Inc, a failed Canadian cannabis cultivator. The firm announced this morning that PharmHouse has closed the sale of its greenhouse facility under an asset purchase agreement entered with a related party of Sensei Ag Holdings. […]
Binance Faces Federal Investigation by Money Laundering and Tax Evasion Sleuths
Major cryptocurrency exchange Binance Holdings Ltd is currently under investigation by the Internal Revenue Service and the Justice Department, as the US government ramps up efforts to uncover illicit activity that has been thriving in the largely unregulated digital currency market. According to Bloomberg, which cited sources familiar with the confidential probe, government officials have […]
Trulieve: Canaccord Reiterates $97 Price Target Following First Quarter Results
Trulieve Cannabis (CSE: TRUL) reported its first-quarter financial results on May 13th, beating the analyst consensus. The company reported quarterly revenues of $193.8 million, a 15.1% increase sequentially, and a 102% growth year over year. The company reported gross margins of ~70%, with an operating margin of 37.4%. Earnings per share came in at $0.24, […]
Beyond Meat: Analysts Lower Price Targets Following Disappointing Earnings
Beyond Meat (NASDAQ: BYND) has been a laggard this year, with its year-to-date performance currently sitting at -16.8%. Most of the drop has happened this week after the company reported less than stellar earnings slumping its share price about 13% since. The company reported revenues of $108.2 million, a 6.1% quarter-over-quarter increase, yet results came […]
InsuraGuest: A Bet On The Revenge Vacation
With the advent of the pandemic early last year, much of our daily lives changed – we experienced food and supply shortages, modified work arrangements, and lockdowns across most regions of the Western world. As a result, certain industries were hard hit with people simply unable to access them, most notably of which is the […]
US Consumer Confidence Plummets Amid Renewed Inflation Fears
US consumer sentiment sharply declined at the beginning of May, as an increasing number of Americans grow worried about rapidly accelerating prices. According to data released on Friday, the University of Michigan preliminary sentiment index dropped from 88.3 to 82.8 in May. The latest figure is significantly below some of the most pessimistic consensus estimates, […]
Canadian Factory Prices Jump By Most Since 1980
Industrial prices across Canada are accelerating at the fastest pace in over 40 years amid surging demand for lumber products. According to Statistics Canada, the Industrial Product Price Index (IPPI) jumped 1.7% in April, and rose 14.2% from year-ago levels, marking the highest increase since February 1980. The majority of the increase stemmed from the […]