Ayr Wellness Enters LOI To Acquire Cannabis Beverage Firm For Up To $60 Million
Despite many within the space stating otherwise, it seems theres some level of demand for cannabis infused beverages. Ayr Wellness (CSE: AYR.a) became the latest multi space operator to take a step into the space this morning, announced it has entered into a binding letter of intent to acquire Cultivauna, whom owns the Levia brand […]
Village Farms Drops US$75 Million Stepping Into US CBD Space
Evidently Village Farms (NASDAQ: VFF) (TSX: VFF) has shifted its focus to the US market. The firm this morning announced that it has stepped into the US CBD marketspace with the acquisition of a Colorado-based cannabinoid focused firm. The transaction, valued at a total figure of US$75 million, has seen Village Farms acquire Balanced Health […]
Apple is Allegedly in Talks With Korean Manufacturers Over ‘iCar’
Apple continues to mull over the prospect of entering the electric vehicle market, after allegedly having a series of talks with several Korean EV component manufacturers. With the EV market heating up, Apple has been working on a strategy to develop its own EV business, in a move to diversify its technological offerings. According to […]
Nuvei Consensus Price Target Climbs $21 After Q2 Results Impress
On August 10, Nuvei Corporation (TSX: NVEI) reported its second quarter financial results. The company reported revenues of $178 million, which grew over 100% since last year. The company reported a gross profit of $145.1 million, also growing over 100%. The company had a gross margin of 81.4% The firm also posted a net income […]
US Consumer Sentiment Slumps to Decade Low Amid Delta Variant, Inflation Concerns
Americans’ optimism surrounding the recovery of the US economy slumped to the lowest in a decade, as concerns mount surrounding rising inflation and the rapid spread of the delta variant. The latest University of Michigan’s preliminary sentiment index collapsed from 81.2 to 70.2 in August— the lowest since December 2011, and significantly below consensus estimates […]
Verano Holdings: Analyst Ratings Nearly Unchanged After Q2 Earnings
On August 10, Verano Holdings (CSE: VRNO) reported their second quarter financial results. The company reported revenues of $199 million, an increase of 39% sequentially, beating analyst estimates (which are in Canadian dollars.) The company reported gross profits of $100 million, or 50%, while adjusted EBITDA came in at $81.47 million. One analyst increased their […]
US Job Openings Soar to Record 10 Million as Businesses Struggle to Fill Vacant Positions
In yet another testament that the US economy is indeed recovering a lot hotter than expected, the number of job openings in June skyrocketed past forecasts, as an increasing number of businesses struggle to fill vacant positions. According to the Bureau of Labour Statistics’ Job Openings and Labor Turnover Survey (JOLTS), there were a total […]
Fed’s Reverse Repo Facility Surges Above Record $1 Trillion Amid Oversupply of Cash
A consistent oversupply of US dollars has prompted investors to park excess cash in the Federal Reserve’s repo facility, causing it to soar above $1 trillion once again. According to data from the New York Fed, a total of 74 financial institutions have placed a combined all-time high of $1.087 trillion in the Fed’s overnight […]
UBERMensch: The Rise Of Uber In The Logistics Economy
Feature image adapted from original art by Victor Bonaccius. It’s difficult to write about UBER without using modern business cliches. It’s a platform business that set out to disrupt the taxi industry, and has since pivoted to takeout. Like the overbuilt startups that preceded it, Uber’s operations lose money. Quite a bit of money. Uber […]
Canadian Used Car Prices up 12.8% as Chip Shortage Weighs on Auto Industry
The average price Canadians paid for a used car has significantly increased this year, as the ongoing global semiconductor shortage continues to add pressure on the already-constrained auto market. According to data obtained by CTV News from AutoTrader.ca, the average selling price of a used car in Canada rose from $18,383 to $20,736 in July, […]