Canaccord Raises Coinbase Price Target Following Strong Earnings Growth
On August 10, Coinbase Global (NASDAQ: COIN) reported its second-quarter financial statements. For non-GAAP items, the company grew its trading volume to $462 billion while monthly transacting users (MTUs) grew to 8.8 million. Due to the volatility in numerous crypto assets, its assets on the platform dropped from $223 billion to $180 billion. The companies […]
US Treasury Quells Fears, Set to Clarify New Crypto IRS Reporting Requirements
In a sign of relief for the crypto community, the US Treasury Department is expected to clarify a set of newly proposed rules aimed at tightening reporting requirements for virtual currencies to the IRS. According to Bloomberg, which cited a Treasury official familiar with the matter, the new guidance, which is part of the $1.2 […]
Lumber Prices Retreat to Nine-Month Low as Sawmills Catch Up to Demand
Lumber prices have fallen to the lowest in over nine months, as demand from homebuilders stabilizes and sawmills boost production output. Lumber futures on the Chicago Mercantile Exchange plummeted to around $500 for the upcoming September contract, marking the lowest since November 2020, as prices fell by nearly 70% since their record peak in May. […]
Trulieve: Canaccord Increases Estimates Following Q2 Results
On August 12, Trulieve Cannabis (CSE: TRUL) reported their second quarter financials. The company announced record quarterly revenue of $215.1 million, up 11% sequentially, while gross profit came in at $144.5 million, a 6.8% increase and profit margins hit 67%. Adjusted EBITDA came in at $94.9 million, while the company reported a positive net income […]
US Small Business Confidence Drops to Lowest Since March
Sentiment among small businesses fell to the lowest since the beginning of spring in August, as the increasing risk of the highly contagious delta variant lowers economic expectations. According to the results of a survey conducted by business advisory firm Vistage Worldwide for the Wall Street Journal, 39% of small business owners across the US […]
General Motors Takes Aim At EV Startups With Two New Models
On August 4, General Motors Company (NYSE: GM) reported adjusted 2Q 2021 earnings of US$1.97 per share and raised full-year adjusted 2021 EBIT guidance to US$11.5-US$13.5 billion from US$10-US$11 billion. However, second quarter EPS results came in below expectations (consensus Wall Street 2Q 2021 EPS estimate was US$2.23), and this, combined with the stock’s strong performance […]
Canadian Building Construction Investment Falls 4.5% in June
Investment in building construction across Canada declined for the second straight month, following consecutive increases between November 2020 and April 2021. According to Statistics Canada, building construction investment fell 4.5% to $18.4 billion in June, as both residential and non-residential construction suffered a decline. After rising 0.3% in May, residential construction investment plummeted 5.8% to […]
Green Thumb Sees Canaccord Raise Price Target Following Earnings Beat
On August 11th, Green Thumb Industries Inc. (CSE: GTII) released its second quarter financial results. The company announced revenues of $221.9 million, up 14.1% sequentially. The company had adjusted EBITDA of $79.3 million and a net income of $22.1 million. The company had a gross profit of $122.9 million, up 10.9%. Only one analyst raised […]
US Home Prices Soar by Most on Record in Second Quarter
Home prices across the US skyrocketed by the most on record once again, as potential homebuyers embarked on bidding wars in a scarce market. According to a report published by the National Association of Realtors on Thursday, the median price of an existing single-family dwelling soared 22.9% year-over-year in the second quarter to $357,900— the […]
Datametrex: Canadian AI Bid Results Expected In Coming Weeks – The Daily Dive
Today on the Daily Dive, we are joined by Marshall Gunter, CEO of Datametrex AI (TSXV: DM). Marshall returns to share his thoughts on meme stocks, his company’s participation in a recent Canadian AI bid, and updates on Datametrex’s COVID testing services. Datametrex AI is a firm primarily focused on technology, via its flagship subsidiary […]