Health Club Chain Life Time Group Prices US$702 Million IPO
Health club chain Life Time Group Holdings (NYSE: LTH) started trading on the New York Stock Exchange Thursday while also announcing pricing for their IPO. The firm aims to raise US$702 million in its debut on the big board. The offering consisted of 39 million shares at US$18.00 per share, which represents the low end […]
US Payrolls Miss Threatens to Derail Fed’s ‘Substantial Further Progress’ Benchmark for Employment
The US labour market slowed down considerably in September, as businesses continued struggling to fill vacant positions. The latest nonfarm payrolls report published by the Bureau of Labour Statistics showed that the US economy added a mere 194,000 jobs in September, following an upwardly revised gain of 366,000 the month prior. The figures are substantially […]
Pegasus Resources Looks To Make Its Mark In The Uranium Space
On October 7, 2021, Pegasus Resources (TSXV:PEGA) announced that it has acquired several uranium properties in the Athabasca Basin area of northern Saskatchewan. The news follows the firm announcing they work looking in the region in the midst of uranium squeeze in mid-September. PEGA is acquiring a 100% interest in the Pine Channel Uranium Property […]
Tesla: Canaccord Bumps Price Target Up To $940 After AGM
Thursday night, on October 7th, Tesla (NASDAQ: TSLA) held their annual general meeting, where Elon Musk announced a consortium of recent developments for the company. Some such developments include: Moving Tesla’s headquarters to Austin Texas Cybertruck likely to start production in 2022 and reach volume production by 2023 Telsa has no plans to issue a […]
Evergrande’s Offshore Bondholders Brace for Default, Fight for Transparency on Assets
As offshore bondholders become more weary of a lack of communication from Evergrande and a potentially subsequent default, a group of them have turned to investment bank Moelis & Co and law firm Kirkland & Ellis to help gain more transparency from the collapsing property developer. According to Bloomberg, both Moelis & Co and Kirkland […]
China Junk Bond Yields Continue to Hit New Highs; Equity Investors Yawn
Over the last eighteen months, equity investors have concluded that the stock market is a fairly easy puzzle to solve. All dips represent, in short order, buying opportunities (at least in theory). Presumably, the U.S. Fed or the U.S. Congress will always be there to backstop the market. Investors are continuing to follow this blueprint […]
Hedge Funds Cashing in on Dumped Oil and Gas Stocks as Energy Crisis Worsens
Hedge funds across the US and the UK have been taking advantage of dumped oil and gas stocks, and are now reaping significant benefits as the global energy crisis heats up. As institutional investors dumped their fossil fuel stocks in droves in an effort to better align with environmental, social, and governance (ESG) standards, some […]
Medmen: Cantor Reiterates Ratings After Call With Management
On September 23, Medmen Enterprises (CSE: MMEN) reported their fiscal fourth quarter financial results. The company reported revenue of $42 million, up 18.5% quarter over quarter and 55.4% year over year. The company saw gross margins come in at 46.9%, up from 40.5% last quarter. On October 5th, Cantor Fitzgerald reiterated their $0.28 12-month price […]
Oncology Firm Pyxis Prices Upsized US$168 Million IPO
Preclinical oncology company Pyxis Oncology, Inc. (Nasdaq: PYXS) started publicly trading on the Nasdaq Global Select Market today under the symbol “PYXS”. The firm’s initial public offering is looking to raise US$168.0 million and is expected to close on October 13, 2021. The offering will be conducted through the issuance of 10.5 million common shares […]
The $69 Billion Question: Does Tether Actually Own the US Dollars it Says it Does?
Tether has been in the spotlight as of recent, after catching the attention of US regulators amid what has been an exponential surge in cryptocurrency popularity during the pandemic. The stablecoin, which is allegedly 1-1 pegged to the US dollar, now has at least 69 billion Tethers in circulation, of which 48 billion of them […]