Bank of Canada Prepares to Aggressively Tackle Inflation
The show must go on! Despite growing uncertainty surrounding geopolitical tensions in eastern Europe and what appear to be signs of stagnating economic growth, the Bank of Canada is prepared to aggressively continue tacking inflation. Bank of Canada Deputy Governor Sharon Kozicki reinforced the central bank’s “unwavering commitment” to bring inflation levels within the 2% […]
Russia-Ukraine War Goes Digital: How Anonymous Is Joining The Battle Online
Ukraine got an unlikely ally in its war against Russia’s invasion–a ‘hacktivist’ group. On Thursday, the popular cyber group claimed it has hacked Moscow’s central bank, threatening to release around 35,000 files “with secret agreements” within 48 hours. The hacking collective has been active in targeting the Russian government and parties associated with the invasion […]
GameStop, AMC Have Exploded Over the Last Few Days for Dubious Reasons; Rally Seems Unsustainable
Meme stocks are back. Speculative investors, emboldened by the stock market’s best week (the week ended March 18) in four months, have jumped with both feet back into Reddit favorites like GameStop Corp. (NYSE: GME) and AMC Entertainment Holdings, Inc. (NYSE: AMC). Just in the last two weeks, the stocks of GameStop and AMC have soared 94% and 49%, respectively. […]
EU Takes On Big Tech With Landmark Digital Markets Act
The European Council and European Parliament have reached a provisional political agreement on the proposed Digital Markets Act, aimed at making the “digital sector fairer and more competitive.” The landmark deal is set to regulate so-called “gatekeepers” like Facebook, Amazon, Apple, and Google operations within the region. “The European Union has had to impose record […]
Cresco Labs: Stifel Slashes Price Target From $30 To $8 Following Poor Q4 Results
On March 23rd, Cresco Labs (CSE: CL) announced its fourth-quarter financial results, which disappointed many investors as the company put up less than stellar earnings. The company announced fourth quarter revenues grew from $215.48 million in Q3 to $218 million this quarter, putting it at one of the slowest revenue growth rates in the space. […]
Russia Mulls Selling Natural Resource Exports in Bitcoin
In the wake of tough western sanctions, Russia is being forced to find alternative payment arrangements for its natural resource exports, such as the ruble, bitcoin, and even gold. On Thursday, chairman of the State Duma committee Pavel Zavalny announced that Russia is open to accepting various methods of payment for its exports, including bitcoin […]
Biotech Firm AN2 Therapeutics Prices US$69 Million IPO
Biopharmaceutical company AN2 Therapeutics, Inc. (Nasdaq: ANTX) began trading on the Nasdaq Global Select Market today. The firm’s initial public offering is looking to raise US$69.0 million and is expected to close on March 29, 2022. The offering consists of 4.6 million common shares, upsized from 4.0 million shares, selling at US$15.00 per share. The […]
Can Europe Get Off Of Russian Gas? – The Daily Dive
Joining us for the final episode of the Daily Dive this week is frequent guest David Morgan, the founder and owner of The Morgan Report. David joins us this morning to discuss the impact of inverting yields and the potential of a recession in the US. Also discussed is what prevents the Fed from raising […]
Crude Sent Soaring After Saudi Aramco Facility hit by Houthi Rebels Missile
Crude prices were sent higher on Friday, after reports emerged that Saudi Arabia’s Aramco oil facility was targeted by Houthi rebels. An oil facility owned by Saudi Aramco located in Jeddah, Saudi Arabia burst into bellowing flames and smoke on Friday, after being hit by a missile launched by Yemen’s rebel Houthi militia. A Houthi […]
Ruble Trouble: German Energy Buyers Foresee Deteriorating Impact Of Putin’s Ruble Payment Demand
In a response to the mounting sanctions imposed by the global community, Russian President Vladimir Putin decided to weaponize its energy exports by demanding gas buyers to pay in rubles. Thing is, it seems to be working. German utilities business organization Bundesverband der Energie- und Wasserwirtschaft (BDEW) said the country’s gas supply situation “is about […]