Binance Is Being Sued For The Not-So-Stable Stablecoin Terra USD
For advertising TerraUSD as “safe” given its dollar peg, Binance is being sued by an American investor following the stablecoin’s downfall in May 2022. Utah resident Jeffrey Lockhart named the crypto exchange and its CEO Brian Shroder defendants in his class-action suit. He claims that Binance endorsed the safety of the stablecoin despite it being […]
Canopy Growth Stocks Suffer Record Low
Canopy Growth, Corp (TSX: WEED) hit a new low on Monday as stocks plummeted in the Canadian market with investors growing apprehensive over rising interest rates aimed at taming inflation. The leading Canadian licensed producer (LP) registered a painful 52-week low, dipping by 9.05% to C$4.22. Monday’s low also marks a six-year record for the […]
The “Materially False And Misleading Statements” That Earned Mullen A Class Action Suit (And Are They Still Making Them)
A class action suit was filed against Mullen Automotive, Inc. (Nasdaq: MULN) on Monday claiming the firm “made materially false and misleading statements.” The suit heavily banks on the report released on April 6 by short seller Hindenburg Research which enumerated a myriad of reasons why it believes the electric vehicle manufacturer is all about […]
Fire & Flower Shares Fall 5% Following Fiscal Q1 2022 Earnings
Fire & Flower Holdings Corp. (TSX: FAF) released today its financial results for the fiscal Q1 ended April 30, 2022. The report highlighted a quarterly revenue of $40.9 million, an increase from $42.7 million last quarter but a decline from $44.1 million in revenue for the same comparable period last year. The cannabis firm said […]
Starbucks May Close Its (Restroom) Doors To The Public
Four years after opening up their restrooms to anyone who needed it, Starbucks (NASDAQ: SBUX) CEO Howard Schultz is mulling over pedaling back on the policy to keep their stores safer for everyone. “We have to harden our stores and provide safety for our people,” Schultz said on Thursday at The New York Times’ DealBook […]
Tilray May Own Up To 50% Of Hexo Under Revised Debt Deal
It appears that Tilray Brands (TSX: TLRY) may ultimately end up with a larger stake in Hexo Corp (TSX: HEXO) than previously expected via the purchase of certain outstanding debt. The two parties this morning announced amendments to the previously announced transaction, which appear on the surface to significantly benefit Tilray. The amendments will see […]
Voyager Digital Looks To Distance Itself From Celsius Amid Crypto Bank Run
Voyager Digital (TSX: VOYG) is looking to distance itself from Celsius following the ongoing implosion of that service. The firm this morning issued what it refers to as an update on its asset and risk management, in light of the events. Voyager referred to itself as having a “consistently high level of transparency,” a statement […]
Arctic Star Concludes Spring 2022 Diamond Exploration Program
Arctic Star Exploration (TSXV: ADD) has completed its spring exploration program at its flagship Diagras Diamond Project, found in the Northwest Territories. The firm conducted drilling, airborne, and ground geophysics under the spring program. In terms of geophysics, a total of 3,294.5 line kilometers were flown under a phase two program. The program reportedly generated […]
Digihost Acquires Property For New 55 MW Bitcoin Mining Facility Despite Bear Market
Digihost Technology (TSXV: DGHI) is focused on expanding its bitcoin mining operation, despite the total carnage we’ve seen in the sector in recent weeks. The firm this morning announced that it will be adding a 55 MW site to its operation. The company has agreed to purchase property in Alabama via an arrangement with Grede […]
US Economy Headed for Colossal Recession
America’s economy is about to plummet at Mach speed into a recession, despite optimistic virtue signalling from the Federal Reserve and the Biden Administration. According to Former Treasury Secretary Larry Summers, the US economy is in a very dire state and that the Fed’s forecasts are “much too optimistic” about the forthcoming state of the […]