Aurora Cannabis “Sells” Medicine Hat Facility To Bevo Farms
Aurora Cannabis (TSX: ACB) has sold what was at one time to be a flagship facility operated by the company in southern Alberta. The Aurora Sun facility, located in Medicine Hat, Alberta, has been sold to that of Bevo Farms. The transaction was conducted via the sale of an Aurora subsidiary that owned the facility […]
AMC CEO Pushes for Equity Capital Raise Following Judge Ruling on APE
In an open letter addressed to shareholders, Adam Aron, CEO of AMC Entertainment (NYSE: AMC), expressed the critical need for the company to raise fresh equity in the near term. Aron highlighted the recent concern raised in the Delaware Court of Chancery’s ruling, emphasizing the importance of addressing it promptly. After the market closed on […]
Used EV Prices Crater As Demand For New Models Rises
Electric vehicle (EV) new car demand statistics and EV used car pricing seem to be pointing in opposite directions, making conclusions regarding overall EV customer demand less certain than one might expect. Such conflicting signals are becoming quite normal in many aspects of the economy and market valuations. Constructively, U.S. demand for new EVs was robust […]
Is AI Taking Away Entry Level Fast Food Jobs?
Automation and artificial intelligence (AI) are everywhere. One of the recent areas of significant penetration is fast food and casual dining restaurants. Of course, restaurants’ stated reason for making such investments is the difficulty filling jobs, not to save money. As of late May, there were nearly 1.2 million U.S. job openings in the combined restaurants and […]
Canadian Capital Doesn’t Have The Guts to Make Movies
As the members of the US Screen Actor’s Guild join their counterparts in the Writers Guild on the picket lines, the Canadian film industry finds itself in a predictable crisis. The Writers’ Guild of Canada WGC and the Alliance of Canadian Cinema, Television and Radio Artists (ACTRA) have both pledged solidarity with their American counterpart […]
AMC: Judge Rejects Agreement To Convert APE Preferred Units Into Common Stock
After the market closed on July 21, a Delaware Chancery Court judge issued a surprise decision which blocks a settlement that would have allowed the conversion of AMC Entertainment Holdings, Inc.’s (NYSE: AMC) APE preferred units into AMC common stock. Many hedge funds, as well as some individual investors, were positioned long the APE preferred stock and short […]
SEC Slaps DWAC with Fraud Charge Over Undisclosed Trump Media Acquisition Plans
The SEC has charged SPAC Digital World Acquisition Corporation (NASDAQ: DWAC) with fraud over its planned merger with Donald Trump’s social media company, Trump Media & Technology Group (TMTG). The SEC alleged that Nasdaq-listed DWAC had failed to disclose to investors and securities regulators its intent to acquire TMTG prior to going public in 2021. […]
American Express: Credit Loss Provisions Rise To $1.2 Billion
Before the market opened on July 21, American Express Company’s (NYSE: AXP) reported its second quarter 2023 results. Earnings per share (EPS) exceeded analysts’ expectations for the fifth successive quarter, but 2Q 2023 revenue fell short of estimates for the first time over that period. Specifically, the company reported 2Q 2023 EPS of US$2.89 (a record for […]
New Study Suggests ChatGPT Is Getting Dumber—But, Is It?
A new study released on Tuesday by researchers from Stanford University and University of California, Berkeley has ignited debate within the AI community regarding the performance of OpenAI’s GPT-4 language model. The paper, titled “How Is ChatGPT’s Behavior Changing over Time?” and published on arXiv by Lingjiao Chen, Matei Zaharia, and James Zou, investigates changes […]
Choke Points: The War on Inflation is Getting Pretty Selective
Inflation is too high, so central banks are raising interest rates to try and bring it down to tolerance, and that’s got everyone pissed. The premiers, home owners, Elizabeth Warren… pretty much everyone hates this. In Canada, the guy who keeps jacking them up, Bank of Canada Chair Tiff Macklem, sat down with the Globe […]