Jushi Holdings: PI Financial Expects Many Catalysts For H2 2021
On August 25, Jushi Holdings Inc. (CSE: JUSH) reported its full Q2 results after pre-announcing revenues of $47.7 million, up 14.6% sequentially, on August 2. The company announced an adjusted EBITDA of $4.6 million or a 9.6% EBITDA margin. Gross profit grew 9.2% to $21.9 million while net income swung to positive $4.8 million from […]
Lordstown Motors Hires Respected CEO from Automotive Industry; Rally Not Justified
On August 26, Lordstown Motors Corp. (NASDAQ: RIDE) appointed automotive industry veteran Daniel Ninivaggi as its CEO. Most recently, Mr. Ninivaggi had been CEO of Icahn Enterprises L.P. (NASDAQ: IEP), which, among other things, operates an automotive aftermarket service network and a parts distribution business. Lordstown’s new CEO also was Co-Chairman and Co-CEO of Federal Mogul […]
Canaccord Estimates Alimentation Couche-Tard Reports Q1 EBITDA Of $1.3 Billion
On August 31, Alimentation Couche-Tard’s (TSX: ATD.B) will be reporting its fiscal first quarter financial results. Then the webcast will be held the following day at 8:00 AM EST. Canaccord Genuity released their estimates while reiterating their hold rating and $48 12-month price target. They say that they hope to see “signs of normalization point […]
Lucid Motors: Instagram Posts By MotorTrend Editor Imply That Deliveries Could Begin In A Month
Over the weekend of August 21-22, Lucid Group, Inc. (NASDAQ: LCID) invited an editor from MotorTrend, Jonny Lieberman, to test drive its flagship electric vehicle, the Lucid Air. According to an Instagram post by this editor, the test drive went quite well. Mr. Lieberman drove 409 miles from Los Angeles to San Francisco on a single […]
Canaccord Reiterates Rating On CloudMD After Quarterly Results
On August 25, CloudMD Software & Services (TSXV: DOC) reported their second quarter financial results. The company announced record revenues of $15.7 million, up 461% year over year. Gross profit came in at $5.55 million, up 439% and gross margin was 35.5%. The company lost $6.15 million on the bottom line, resulting in earnings per […]
General Motors Announces Another Extremely Costly Bolt Electric Vehicle Recall; Negative Implications for EV Industry
After the market close on Friday, August 20 (a typical timeslot when companies release bad news), General Motors Company (NYSE: GM) announced that is recalling 73,000 additional models of its Chevrolet Bolt EV at an incremental cost of around US$1 billion. This brings the total number of Bolts to be recalled to around 143,000, and […]
GAGE Cannabis: PI Financial Reiterates Their Street High Target, Lowers 2021 Estimates
On August 24, Gage Growth Corp. (CSE: GAGE) announced their second quarter financial results. The company announced revenue grew 50% sequentially to $26.41 million, while gross profit grew 81% to $9 million for a gross profit margin of 34.2%. The company also reported a negative operating margin of 22.7% and a negative net income of […]
Tesla’s NHTSA Review Could Significantly Impact Other Self-Driving Industry Players
On August 13, the U.S. National Highway Traffic Safety Administration (NHTSA) opened a review into Tesla Inc.’s (NASDAQ: TSLA) Autopilot system that has been installed in 765,000 of the company’s models produced between 2014 and 2021. The key catalyst for the inquiry, which is the biggest in Tesla’s history, seems to be 11 collisions since 2018 […]
SEC Chair Gary Gensler Opens Inquiry Into Gamification Features Used by Retail Trading Apps
The SEC has requested the public’s opinion on the “gamification” of stock trading, amid rising concerns that some online apps such as Robinhood are nudging retail investors to take on risks that may not be fully disclosed. On Friday, the SEC issued a press release calling on the public to provide their opinion on the […]
Jerome Powell Acknowledges ‘Substantial Further Progress’ Has Been Met, Taper Could Start in 2021
Fed Chair Jerome Powell has signalled that the central bank could begin tapering its unprecedented monetary stimulus as early as this year, after finally announcing that the economy has achieved “substantial further progress” in the pandemic recovery. In a highly anticipated virtual speech at the Jackson Hole, Wyoming, symposium on Friday, Powell acknowledged that the […]