Former Citadel Analyst Gets Four-Year Prison Sentence For Covid Scam
A former analyst at Citadel LLC was sentenced to 51 months in prison for scamming millions in Covid relief loans for his startup hedge fund. Gregory Blotnick, who founded Brattle Street Capital in 2019, pleaded guilty to wire fraud and money laundering charges in October. He admitted to submitting 21 fraudulent loan applications amounting to […]
Another Bubble? Hedge Funds’ Bet On Private Firms Is About To Burst
In an unusual fashion, billionaire Dan Sundheim’s investment firm D1 Capital Partners took a US$2-billion loan using its stakes in private firms as collateral. The bet proved to be attractive as the portfolio posted around a 70% gain. Now, the valuation crash of private ventures is foreshadowing losses for these hedge fund bets, pushing Wall […]
Rectal Cancer Drug Trial Sponsored by GlaxoSmithKline Yields Unprecedented, Near-Miraculous Results
On June 5, Dr. Luis Diaz of NYC-based Memorial Sloan Kettering Cancer Center, perhaps the most well-regarded cancer treatment center in the world, presented findings from a small trial of a rectal cancer drug sponsored by GlaxoSmithKline (NYSE: GSK) in the New England Journal of Medicine. The results of the trial, which covered six months per patient, each of […]
Thailand Decriminalizes Cannabis But Cautions Recreational Use
In a landmark move, Thailand Food and Drug Administration handed down a decision that removes cannabis from its narcotics drug list, effectively making the plant legal for medical and industrial use. Pro-marijuana Thais flocked cannabis retailers in Bangkok, including Highland Café, to celebrate the historic decision. This move makes Thailand the first Asian country to […]
Five Dollarama? Dollar Discount Chain Starts Stocking Higher Priced Products
As the discount store chain previously announced, Dollarama Inc (TSX: DOL) has started including products priced up to $5.00 on its shelves. The move coincides with its fiscal Q1 2023 earnings release headlined by a quarterly revenue of $1.07 billion, up from Q1 2022’s $954.2 million. The company is attributing the increase to the growth in […]
Silk Road Energy Acquires Gold Properties In Kirkland Lake Region Of Ontario
Silk Road Energy (TSXV: SLK) has closed on its previously announced purchase of multiple gold property in Ontario. The closing follows the approval from shareholders that was granted at a meeting earlier this week. The acquisition has seen the company acquire the Amikougami and Otto gold properties, both of which are found in the Kirkland […]
Will Nuclear Sentiment Drive Uranium Higher?
Sitting down with us for the first time on video is Justin Huhn, founder of Uranium Insider. Huhn sits down with Steve and Jay on SmallCapSteve Live! to discuss the changing sentiment towards nuclear energy, the strategy behind investing in uranium and nuclear names, and why he likes the uranium investing thesis so much. Uranium […]
Europe Importing More Russian Oil Than Before Sanctions
The EU is importing more Russian oil than before western leaders imposed crippling (or what were meant to be crippling) sanctions on the post-Soviet economy in response to Vladimir Putin’s military conflict in Ukraine. According to the Economist which cited data compiled by Argus Media, Russian oil shipments to the EU rose from 750,000 barrels […]
NIO Reports US$1.56 Billion In Revenue, US$281.2 Million Net Loss For Q1 2022
NIO Inc. (NYSE: NIO) reported today its financial results for Q1 2022, earning US$1.56 billion in revenue. This is a relatively flat increase from Q4 2021’s revenue of $1.56 billion and an increase from Q1 2021’s revenue of US$1.26 billion. The company reported a total of 25,768 vehicle deliveries during the quarter, up from the […]
New Found Gold: BMO Initiates With $10 Price Target
BMO Capital Markets this week initiated coverage on New Found Gold (TSXV: NFG) with an outperform rating and a C$10 12-month price target, which is an upside of 40%. In announcing the initiation they comment that the rating is based “on the high-profile Queensway discovery in Newfoundland, Canada.” They add that the company has found […]