Toronto’s Housing Market Cools Off In April As Prices Slide From Historic Highs
Toronto’s skyrocketing home sales activity showed signs of cooling off last month, as an increasing number of prospective buyers found themselves priced out of the real estate market. According to Toronto Regional Real Estate Board (TRREB), a total of 13,663 properties traded hands in April, marking a 362% surge from year-ago levels when the economic […]
US Energy Production Dropped By Most On Record In 2020
Demand for energy products around the globe came to a standstill during the Covid-19 pandemic, as non-essential travel was significantly curbed in an effort to mitigate the spread of the deadly disease. As a result, US energy production fell by the most on record last year. According to the Energy Information Administration’s Monthly Energy Review […]
Fisker: Well-Capitalized EV Producer Slated To Begin SUV Production In Late 2022
Fisker Inc. (NYSE: FSR), a well-funded start-up electric vehicle (EV) manufacturer, plans to commence production of its Fisker Ocean mid-sized SUV model in November 2022. Fisker originally revealed the design for the all-electric Ocean, a five-passenger vehicle with a 250-350 mile range, at the Consumer Electronics Show in early 2020. One of Fisker’s key attributes is its Chairman and CEO Henrik Fisker. […]
Lyft Sees Several Analysts Raise Targets Following Q1 Earnings
Lyft Inc (NASDAQ: LYFT) opened up 2.5% higher Tuesday morning following the release of its latest financing results, before ultimately closing down 6.34%. The company reported revenues of $609 million, beating Refinitiv estimates, but came short in earnings per share estimates with the company reporting -$1.31 earnings per share. A number of analysts changed their […]
OECD: Covid-19 Pandemic Drives Global Investment to 15-Year Low
Global foreign direct investment flows fell to the lowest in 15 years amid the pandemic, while China overtook the US economy as the top destination. According to OECD data published last week, foreign direct investment (FDI) flows fell 38% to $846 billion in 2020 compared to the previous year. The Covid-19 crisis significantly contributed to […]
US Labour Market Growth Falls Below Expectations in April
Despite bullish expectations that the US economy is on a trajectory towards a strong recovery, job growth in April hit a huge roadblock, as the latest figures from the Bureau of Labour Statistics fall significantly short of consensus estimates. According to the agency’s nonfarm payrolls report published on Friday, there were a total of 266,000 […]
Endeavour Silver Gets A Boost From Rising Production & Pricing
On May 4, Endeavour Silver Corp. (TSX: EDR) announced that it encountered high-grade silver and gold mineralization in the El Curso region of its Guanacevi Mine in Durango, Mexico. Perhaps more importantly, the drilling results indicated an expansion of the El Curso orebody. Key assay results included the following: Endeavour is producing gold and silver from […]
Archegos Capital Prepares For Bankruptcy As Banks Seek To Recoup $10 Billion In Losses
Bill Hwang’s Archegos Capital, the family investment firm hedge fund that imploded back in February, is now allegedly preparing to file for bankruptcy after a number of major banks that lost over $10 billion scramble to recoup their losses. According to the Financial Times, which cited people familiar with the matter, Archegos has hired restructuring […]
TIlray: Canaccord Resumes Coverage Following Aphria Transaction
Earlier this week, Tilray (NASDAQ: TLRY) finalized their merger with Aphria (NASDAQ: APHA) (TSX: APHA), with Aphria shares getting converted into Tilray shares, and now all trade under the one symbol “TLRY.” Many analysts have come out and updated their 12-month price targets on Tilray, with Stifel cutting their price target to C$16 from C$21 […]
GM Anticipates to Offer Personal Fully Autonomous Vehicles To Customers Within the Decade
General Motors expects to offer self-driving vehicles to consumers within the decade, as autonomous and EV technology heats up. Although full autonomous vehicles are currently in the midst of stringent testing, manufacturing them for the broader consumer base has not been a main priority for automakers. The technology required to run such a system is […]