South Carolina Senate Gives Green Light on Medical Cannabis Bill Following Weeks of Debate
Senators in South Carolina have spent a number of weeks debating a medical marijuana legalization bill, finally approving the use of medical cannabis in the state in a 28 to 25 vote. On Wednesday evening, South Carolina senators passed a proposal approving the use of medical cannabis in the state, following a seven-year pursuit by […]
Rivian Sees Three Developments That Could Impact Performance
Three separate reports have been released over the past few days which are likely to impact Rivian Automotive, Inc. (NASDAQ: RIVN) shares for some time. Two of the issues have negative implications for the electric vehicle developer, while the other discusses what could be a quite promising development. First, Korean media is reporting that battery development partnership talks […]
Cathie Wood Criticizes Financial Markets for Focusing on Inflation
Wall Street darling Cathie Wood has once again gone rogue against the common consensus on rising price pressures, and reassuring the investment community that inflation is anything but a problem. During her latest monthly market webinar which aired this week, Wood took aim at the financial market’s obsession with accelerating prices, instead insisting that inflation […]
Tyson Foods: BMO Lifts Price Target To $115 After Strong Q1 Results
On February 7th, Tyson Foods (NYSE: TSN) reported their fiscal first quarter results for the period ending December 31st. The company reported total revenues of $12.93 billion, up 23.6% year over year. Gross profits came in at $2 billion, or a 15.6% margin, up 55.4% year over year while net income grew over 100% year […]
Tampa Bay Rays Owner-Led SPAC Counter Press Acquisition Prices US$75 Million IPO
Special purpose acquisition company Counter Press Acquisition Corp. (Nasdaq: CPAQU) started trading publicly on the Nasdaq Global Market yesterday. The company is seeking to raise US$75 million in its initial public offering. The offering consists of 7.5 million company units priced at US$10.00 per unit. Each unit is composed of one Class A share and […]
McGlone: Commodities Up, Stocks Down & Bitcoin Ahead? – The Daily Dive
Today on the Daily Dive we are joined by one of our regular guests, Bloomberg Intelligence senior commodity strategist Mike McGlone. Mike joins us to discuss the crypto world after the Bitfinex hack arrests, Russia’s move to legalize crypto after banning its mining, and the future of Nord Stream 2 after Biden’s pronouncements regarding Russia-Ukraine […]
Russian Government Rejects Banning Cryptocurrencies, Adopts New Laws to Regulate Them Instead
The Russian government has decided to abandon the idea of outlawing cryptocurrencies, and instead impose new laws governing their use in the country”s existing financial system. According to a statement released by Moscow’s official press service, the Russian government decided to withdrawal the central bank’s proposed plans to ban crypto mining and trading, and instead […]
Roblox, NFL To Launch Metaverse Football Experience At Super Bowl LVI
Another field is opening up to football fans–this time, an immersive virtual one. Roblox (NYSE: RBLX) and National Football League are teaming up to launch the metaverse-oriented NFL Tycoon, in time for the biggest football event of the year. “We are beyond thrilled to partner with Roblox as we journey deeper into the Metaverse and […]
Uber Drives US$17.46 Billion In Revenue, US$496 Million Net Loss In 2021
Uber Technologies, Inc. (NYSE: UBER) released on Wednesday its fourth quarter and full-year 2021 financial results. The company posted US$17.46 billion in annual revenue, an increase from 2020’s revenue of US$11.14 billion. This came from a total of gross bookings for the year of US$90.42 billion from 6.37 billion trips, up from last year’s US$57.90 […]
Bombardier Records US$6.09 Billion In Revenue In 2021
Bombardier (TSX: BBD.B) shared today its Q4 and full-year financial results for 2021. The company earned US$6.09 billion in revenue, a drop from 2020’s US$6.49 billion. “[The] 2021 results are proof that our plan gave us both the structure and the agility to manage any outside obstacles and capitalize on a faster-than-expected industry recovery,” said […]