Janet Yellen Eats Her Words: ‘I Was Wrong’ on Inflation
In the most direct admission yet, Treasury Secretary Janet Yellen said she got everything totally wrong last year when she predicted inflation would be transitory, acknowledging that she “didn’t fully understand” the then-forthcoming shocks to the economy. No one could have predicted that when the money printer goes brrrr inflation would soar, and certainly not […]
Eguana Tech: Stifel-GMP Raises Estimates, Lifts Price Target To $0.70
On May 30, Eguana Technologies (TSXV: EGT) announced its second-quarter financial results. The company reported quarterly revenues of $0.3 million, down slightly from $0.4 million a year ago, for which the firm says is due to a “lack of Canadian supplied circuit boards and management decision to transition and fully commission Omega EMS.” Eguana saw […]
Newlox Gold: Revenue Growth Is To Continue – The Daily Dive
Today on the Daily Dive, we see the return of Ryan Jackson, CEO of Newlox Gold (CSE: LUX). Ryan joins us today to discuss inflationary pressures and the impact on the price of gold, and what will drive the price of gold higher. We then transition to a discussion on Newlox, where we get an […]
Meta COO Sheryl Sandberg Steps Down to Focus on Philanthropic Efforts
Longtime Meta Platforms (NASDAQ: FB) COO Sheryl Sandberg has decided to step down from her position come this fall, opting to focus attention on her philanthropic efforts instead. Sandberg has been with Meta (originally Facebook) since the social media company’s inception in 2008, quickly becoming a prominent female figure in the tech industry and earning […]
Tiger Global Bleeds 52% Loss Year-To-Date, Looks At Cutting Management Fees
Hedge fund Tiger Global Management tumbles 14.2% in May alone, putting its losses for the year at around 52%. This is a significant decline compared to the 7% contraction it sustained in 2021. According to a Bloomberg report, the monthly loss stemmed mainly from the decline “in several stocks and substantial markdowns in its private assets.” […]
SEC Charged CbdMD CEO With Fraud, Firm’s Board Forms Special Review Committee
The US Securities and Exchange Commission charged cbdMD, Inc. (NYSE American: YCBD) CEO Martin Sumichrast with fraud related to the private equity fund he managed–the descendant of the infamous Ponzi scheme Siskey Capital. The complaint alleges that Sumichrast, while managing private fund Stone Street Partners, engaged in “undisclosed conflict-of-interest transactions that advanced his personal interests” […]
Swing and Miss: Canada’s GDP Falls Short of Expectations as Exports Plummet
Canada’s economy fell short of forecasts last quarter, as exports slumped amid continued supply constraints. Latest data from Statistics Canada shows that GDP output grew by only 3.1% in the first quarter, substantially below forecasts calling for a 5.2% increase, and even weaker than the statistics agency’s preliminary data. In fact, the 0.8% quarterly increase […]
GameStop Reports Fiscal Q1 2022 Financials: US$1.38 Billion In Revenue, US$157.9 Million Net Loss
GameStop Corp (NYSE: GME) reported on Wednesday its financial results for fiscal Q1 2022, highlighting a quarterly revenue of US$1.38 billion. The topline figure beats the consensus estimate of US$1.32 billion, but is a drop from Q4 2021’s US$2.25 billion and an increase from Q1 2021’s US$1.28 billion. The gross margin for the quarter came in […]
Fire & Flower Sees CEO Replaced By Couche-Tard Executive
Alimentation Couche-Tard (TSX: ATD.B) appears to have had enough of the continuous losses being posted by Fire & Flower Holdings (TSX: FAF). Similar to a move conducted some years ago by Constellation Brands when they replaced the head of Canopy Growth, Couche-Tard too has now placed its own executive within the CEO role. It was […]
Swarmio Media Enters Tunisia Via Partnership With Largest Telecom In The Country
Swarmio Media (CSE: SWRM) continues to expand its distribution as a result of a partnership agreement entered into with TM Wholesale. The firm this morning announced that it will be entering the African continent for the first time, deploying its tech across Tunisia. The firm has reportedly entered into a commercial agreement with Ooredoo Tunisia, […]