MicroStrategy Dropped From S&P Small Cap 600 Index
It appears that not everyone on the institutional side of capital markets is in love with Michael Saylor’s recent strategy surrounding the company in which he helms, MicroStrategy Incorporated (NASDAQ: MSTR). In particular, the firm has caught the ire of the S&P Small Cap 600 index. On Friday, it was quietly announced by S&P Dow […]
Canadian Grocery Prices Expected to Rise this Fall Due to Climate Change, Covid-19
Food prices at grocery stores across Canada are expected to continue rising in the fall, but not entirely due to Covid-19: recent adverse climate change has caused scorching heat and drought conditions, which are expected to translate to less transitory forces of food inflation. According to a CTV News interview with Dalhousie University professor in […]
Is Stagflation Here? US Nonfarm Payrolls Unexpectedly Plummet Sharply in August
US job growth was sent into a sharp decline in August, enormously missing even the most pessimistic of estimates, and giving rise to concerns that the US economy is rapidly slowing down even as inflation continues to inch higher. On Friday, the Bureau of Labour Statistics reported that the US economy added only a paltry […]
Peloton: BMO Remains As The Bear Following Q4 Results
At the tail end of August, Peloton Interactive (NASDAQ: PTON) reported its fiscal fourth quarter and year end financial statements. For the fourth quarter, the company reported $937 million in revenues, up 54% year over year but down 25% sequentially. Gross profits came in at $253.6 million, down 43% sequentially, while the gross margin was […]
Shares of Didi on the Rise Following Report of Beijing Takeover
Shares of Didi (NYSE: DIDI) jumped this week, amid reports that the Chinese government may be mulling a plan to take control of the plagued ride-hailing company. According to Bloomberg, which cited individuals familiar with the matter, Beijing is apparently in the midst of devising a plan to take control of Didi, by acquiring a […]
The Mechanics Behind Axie Infinity
Let’s talk Axie Infinity. The brand has caught our attention as of late for a few reasons. We’re talking about a video game that has really pushed the NFT market forward, yet is so simple that people in their 70’s are managing to make real life incomes from playing it. But first, lets preface this […]
CIBC to Take Over Costco’s Canadian Credit Card Division in Effort to Bolster Revenue Sources
CIBC has agreed to take over Costco’s Canadian credit card business, as major Canadian banks search for more sources of revenue amid a decline in consumer borrowing during the Covid-19 pandemic. According to a statement from CIBC seen by Bloomberg, the bank will purchase Costco’s portfolio of Capital One Mastercards, which have a combined total […]
Valens Company: Canaccord Warns Of Integration Risk Following Acquisitions
This week has been a busy one for The Valens Company (TSX: VLNS). On Tuesday, the company announced they would be acquiring Citizen Stash in an all-share transaction pegged at $54.3 million. Citizen Stash is a licensed producer that specializes in premium flower and pre-rolls. Valens says that this acquisition will be accretive to the […]
Ford Suffers Significant Sales Slump, GM Announces Further Production Cuts Amid Worsening Chip Shortage
Ford’s auto sales slumped significantly last month, while rival GM is planning additional production cuts, as the ongoing global semiconductor shortage continues to hammer automakers. According to a company statement on Thursday, Ford’s US auto sales fell 33.1% in August compared to the same month a year earlier, causing its adjusted selling rate to plummet […]
Hive Blockchain: The Green Energy Miner – The Daily Dive
For today’s Daily Dive, we are joined by Aydin Kilic, the new President and COO of Hive Blockchain (TSXV: HIVE). He drops by to talk about the company’s 1.0 EH/s milestone hashrate amidst worldwide chip shortages, the recent listing on Nasdaq, and his take on ethereum getting the London hard fork. HIVE Blockchain Technologies is […]