US Judge Rules That Trading Platform Must Address Market Manipulation Claims
Robinhood Markets (NASDAQ: HOOD) will have to address market manipulation claims related to the meme stock rally of 2021, when the retail trading platform temporarily prevented users from buying popular stocks such as GameStop and AMC Entertainment. A Miami judge on Thursday decided that a class action lawsuit filed by investors of GameStop, AMC, and […]
Rivian Reports Weak 2Q 2022 Financial Results But Reaffirms Full-Year 2022 Production Guidance
Rivian Automotive, Inc. (NASDAQ: RIVN) last night reported weak 2Q 2022 results in virtually all respects beside two — the company reaffirmed that it is on track to reach its goal of producing 25,000 vehicles for the full year 2022; and refundable reservations for its R1T pickup truck and its R1S SUV totaled about 98,000 on […]
McEwen Mining Falls 8% After Missing Estimates
McEwen Mining (TSX: MUX) reported its financial and operational performance in Q2 2022. The mining firm saw quarterly revenue of US$30.6 million, up from Q1 2022’s US$25.5 million but down from Q2 2021’s US$40.7 million and also failing to meet the consensus estimate of US$35.0 million. Gross margin, however, increased to 13.8% from last quarter’s gross […]
Karora Resources Posts $73.6 Million In Revenue For Q2 2022, Announces A$57 Million NPV In Nickel PEA For Beta Hunt Mine
Karora Resources Inc. (TSX: KRR) reported its financials for Q2 2022 on Friday. The firm posted $73.6 million in quarterly revenue, up from $65.3 million in Q1 2022 and $69.6 million in Q2 2021. As the company previously announced, the firm was able to sell 30,398 gold ounces during the quarter at US$1,860 per ounce. […]
Did Celsius’ CEO Just Cash Out CEL Tokens While The Firm Undergoes Bankruptcy Filing?
Keen eyes have noticed that the digital wallet identified with Celsius Network CEO Alex Mashinsky withdrew some CEL tokens in recent days while the company is in the middle of its bankruptcy filing process. The wallet identified as Mashinsky’s by crypto intelligence firm Nansen made multiple transactions on Saturday and Tuesday to swap 17,475 CEL […]
Glass House Reports 2% Gross Margins For Q2, To Sell Preferred’s With 20% Dividend
Glass House Brands (NEO: GLAS.A.U) last night reported its second quarter financial results. While revenues were down on a year over year basis by 12%, there was a notable 18% improvement on a sequential basis, with revenues climbing to $16.5 million for the quarter ended June 30. This 12% decline in revenue comes despite the […]
MindMed Declares US$17.0 Million Net Loss, US$105.7 Million Cash Balance For Q2 2022
Mind Medicine Inc. (NEO: MMED), more commonly known as MindMed, announced on Thursday its financial results for Q2 2022. The biotech company ended the quarter with an incurred net loss of US$17.0 million compared to a loss of US$45.3 million in Q2 2021. The quarter’s net loss translates to US$0.04 loss per share. This came […]
Downtown Toronto Turns to Chaos Amid Power Outage
Toronto’s downtown core suffered a major power outage on Thursday, prompting city officials to shut down streets and businesses. According to news outlet CP24, the sudden power outage has “affected several buildings, including the Eaton Centre and Toronto Police Headquarters as well as several towers in the Financial District. The many large advertising screens at […]
Trulieve Sees Consensus Price Target Tumble After Cutting Guidance
Trulieve Cannabis (CSE: TRUL) reported its second quarter financial results on Wednesday. The company announced revenues came in flat sequentially to $320.3 million. They note that retail revenues grew 3% to $298.6 million while they saw a 22% sequential decline in wholesale, licensing, and other revenues to $21.7 million. The company’s gross profits came in […]
Coinbase Suggests 3Q 2022 Results Will Be Weak, Investors Shrug
Coinbase Global, Inc.’s (NASDAQ: COIN) released weak 2Q 2022 earnings results earlier this week. A dramatic decline in cryptocurrency prices caused corresponding sharp falls in trading volume, customer assets on Coinbase’s platform, and adjusted EBITDA. Indeed, the company’s adjusted EBITDA fell to a loss of US$151 million from positive US$20 million in 1Q 2022, and positive US$1.205 billion […]