Russia’s Gold and Currency Reserves Soar to Record-High as Economic Uncertainty and Inflation Accelerate
Russia’s international reserves have soared to unprecedented levels over the past several years, as the country embarks on gold and foreign currency investments amid rapidly accelerating inflation and economic uncertainty. Russia has now ranked fifth in the world in terms of international reserves, after China, Japan, Switzerland, and India. According to the country’s Accounts Chamber, […]
SmileDirectClub Could be Another Stock Boosted Solely (And Undeservedly?) By Reddit Chatter
Shares of SmileDirectClub, Inc. (NASDAQ: SDC), creator of a clear aligner medtech platform for teeth straightening, soared around 25% in early October as the company suddenly became a hot topic among Reddit investors. Its key attribute seems to be a high level of short interest; the 34.25 million shares shorted as of mid-September represents about a […]
Software Firm GitLab Prices US$800 Million IPO
Software company GitLab Inc. (Nasdaq: GTLB) started trading on the Nasdaq Global Select Market Thursday under the ticker symbol “GTLB”. The firm aims to raise US$800.8 million in its debut on the big board. The offering consisted of 10.4 million Class A common shares at US$77.00 per share. The company is selling 8.42 million shares […]
Canadian Manufacturing Sales Jump to $60.3B in August Amid Higher Petroleum Sales
After falling 1.2% in July, manufacturing sales were up 0.5% in August, as sales of petroleum and chemical products jumped to record high levels. According to Statistics Canada, manufacturing sales across Canada were up 14.9% year-over-year to $60.3 billion in August, largely due to higher sales volume. The Industrial Product Price Index slumped 0.3% from […]
Haywood Raises Nevada Copper Price Target After Debt Extension
On October 12th, Nevada Copper Corp. (TSX: NCU) announced that it has entered into an agreement with senior project lenders and a non-binding term sheet to raise capital as well as a deferral and extension of its debt facilities. The company entered into a non-binding term sheet with their largest shareholder to consolidate outstanding shareholder […]
Bitcoin Soars Above $60K Amid Speculation SEC Will Approve First US Bitcoin ETFs
Bitcoin was sent rallying above $60,000 Friday morning, amid speculation that the SEC may allow America’s first bitcoin ETF to begin trading as early as next week. According to CNBC, which cited people familiar with the matter, the SEC is poised to abstain from blocking bitcoin ETFs from Invesco and ProShares, marking a significant milestone […]
Robinhood Revenues Likely To Decline Markedly on Sequential Basis
Robinhood Markets Inc. (NASDAQ: HOOD) plans to release 3Q 2021 earnings on October 26, and analysts have paid attention to the company’s warning that third quarter revenue will be down from 2Q 2021 levels. Specifically, Robinhood analysts on average estimate 3Q 2021 revenues will be US$431 million, down from US$565 million in the second quarter. It can […]
K92: BMO Anticipates Stage 3 Expansion To Come Earlier Than Expected
On October 7th, K92 Mining Inc. (TSX: KNT) announced that the board of directors has approved the Stage 2A Expansion at its flagship mine, which will increase annual throughput by 25% to 500,000 tonnes per annum. The company says that the estimated cost of capital will be roughly US$2.5 million, and full commissioning will commence […]
US Social Security Benefits Boosted 5.9% in Effort to Combat Out-of-Control Inflation
Thanks to rampant inflation that is everywhere and no longer merely transitory, nearly 70 million American retirees will finally receive the biggest pay boost in over 40 years. On Wednesday, the Social Security Administration announced that it will raise Social Security and Supplemental Security Income benefits by 5.9% come next year, marking the largest increase […]
Ex-Wipro CEO-led SPAC Compass Digital Acquisition Prices US$200 Million IPO
Special purpose acquisition company Compass Digital Acquisition Corp. (Nasdaq: CDAQU) started trading publicly on the Nasdaq Global Market today. The company is seeking to raise US$200 million in its initial public offering. The offering consists of 20.0 million company units priced at US$10.00 per unit. Each unit is composed of one Class A share and […]