US Cannabis: Stifel Expects “Limited To No Sales Growth”
Earlier this month, Stifel-GMP came out with their US cannabis second quarter preview, calling the bottom on the drawdown but resetting their estimates for many cannabis names in their coverage to include “limited to no sales growth across most markets.” The analysts say that an elevated recession risk, challenging macro environment, and price compression/margin erosion […]
Tim Hortons Offers A Cup Of Coffee And A Doughnut To Settle Class Action Suit Over Data-Tracking
Tim Hortons has announced that they have reached a proposed settlement in multiple class action lawsuits over accusations that the restaurant chain’s mobile app secretly tracked its users, violating customer privacy laws. And the settlement is that they would offer a free coffee and a doughnut. Okay, it’s not strictly coffee and a doughnut: affected […]
US Consumers Expect Softened Labour Market, Persistent Inflation
Despite persistence from the Biden administration and the Federal Reserve that the US economy is NOT in a recession, consumers’ inflation expectations and labour market outlook may suggest otherwise. The latest University of Michigan consumer sentiment index rose slightly from June’s historic low of 50 to 51.1 in July, but the focal point was respondents’ […]
Bitfarms Sells Off Further Bitcoin To Reduce Crypto-Backed Debt
It appears that Bitfarms Ltd (TSX: BITF) has learned its lesson when it comes to debt backed by volatile cryptocurrencies. The firm in July further reduced its outstanding debt backed by Bitcoin, cutting the debt from US$38.0 million to $23.0 million. The debt was reportedly repaid via a combination of the sale of bitcoin mined […]
Fears Of European Economic Slowdown May Have Been A Key Impetus For The Soaring Equity Markets In July
In July, many stock markets posted their best monthly results since November 2020, and in the process defied the generally downbeat predictions of many analysts and economists. Indeed, the S&P 500 Index and the TSX composite index gained 9.1% and 4.4%, respectively. What is especially remarkable about these performances is that very few macro indicators of […]