Look for Constellation to Write Off Significant Amount of Canopy Investment
On October 30 2017, Constellation Brands (NYSE: STZ) and Canopy Growth Corp. (NASDAQ: CGC) jointly announced their new “groundbreaking strategic relationship” which would see Constellation invest an initial C$245 million into Canopy. Since that initial announcement, Constellation has continued to add to their position in Canopy with their total cash investment growing to over $4.4 […]
Salesforce Reports US$7.72 Billion In Revenue In Fiscal Q2 2023, Announces Maiden US$10 Billion Share Buyback Program
Salesforce (NYSE: CRM) reported on Wednesday its financial results for fiscal Q2 2023, highlighting revenue of US$7.72 billion. This is an increase from Q1 2023 revenue of US$7.41 billion and from Q2 2022 revenue of US$6.34 billion. “Our results demonstrate the strength and diversity of our product portfolio across regions, industries and segments,” said Co-CEO […]
Mind Medicine Begins Phase 2B Study On Treating Generalized Anxiety Disorder With LSD Variant
Mind Medicine (NEO: MMED) has officially seen patient trials under a Phase 2b study get underway as it looks to find a treatment for generalized anxiety disorder. The firm this morning indicated it has begun dosing its first patients with one of its novel formulations. The novel drug being tested under the clinical trial is […]
Aurora Cannabis Acquires Majority Stake In Former Zenabis Subsidiary Bevo Farms
The Canadian cannabis sector is flailing so bad when it comes to rejuvenating their operations that they’ve begun recycling old ideas in an attempt to make them work again. Aurora Cannabis (TSX: ACB) this morning announced that it would be acquiring a controlling interest in Bevo Agtech, the propagated vegetable and ornamental plant operation previously […]
California To Ban Sale Of Gasoline-Powered Vehicles By 2035
In what may be one of the most stringent zero-emission regulations targeting vehicles, the state of California is expected to finalize a new law that would ban the sale of all new gasoline-powered cars in the state come 2035. As reported by the New York Times, the California Air Resources Board’s unprecedented rule is expected […]
Rise Of The Robots: Has South Korea Cracked Its Labor Problem?
How are South Korean corporations dealing with a labor shortage, a minimum wage hike, and the prospect of a shrinking workforce? With robots, obviously. 2021 data from World Robotics say that South Korea is the most robotized country in the world, with 932 robots for every 10,000 workers. The figure is seven times higher than […]
Jim Chanos Plays The Arbitrage Between AMC And APE
Jim Chanos has made the news again for his comments on AMC Entertainment (NYSE: AMC, APE), although this time it may not be what you suspect. Contrary to many investors expectations, he’s gone long on the equity. As well as short. If that may confuse you at first, the premise is simple. Chanos is treating […]
Bitfarms Reports Respectable Q2 2022 Earnings Given Bitcoin’s Collapse
Considering the pummeling that Bitcoin has absorbed over the last five months, Bitfarms Ltd. (NASDAQ: BITF) reported respectable 2Q 2022 earnings. The company mined 1,257 Bitcoin in the quarter, 31% more than in 1Q 2022, and generated positive US$18.7 million of adjusted EBITDA in 2Q 2022. Bitfarms increased its computing (and therefore mining) capacity to 3.6 Exahash per […]
Russia, India In Talks To Integrate Their SWIFT Versions Following Trade Boom
Russia and India are reportedly in talks to integrate their digital payment systems to encourage swift transactions between the two countries. This hopes to boost the already booming trade between the two giant markets as western states continue to ice Russia out of the global economy. The initiative might see Russia’s Mir and India’s RuPay […]
Scratch That — Colombia’s Leftist Government Does NOT Want to Decriminalize Cocaine
Colombia’s new leftist government still wants to end the war on drugs, but it has clarified — contrary to what appointed drug czar Felipe Tascón told the Washington Post last week — that its plans do not include legalizing cocaine. According to Justice Minister Nestor Osuna, who spoke to reporters in congress on Tuesday, the […]