Wedbush Expects 11% CAGR through 2025 on Largest U.S Cannabis Companies
At the start of December, Wedbush initiated coverage on a select group of US multi-state operators, saying after a long 18 months they believe that brighter days “lie ahead for the U.S. cannabis industry.” They believe that the companies will generate incremental revenue from newly legalized states coupled with normalization from the black market. The […]
BMO Expects Equinox to be in Breach of its Leverage Ratio at Year-End, still gives Outperform Rating
On December 6th, Equinox Gold (TSX: EQX) announced that it sold an aggregate of 11 million shares of Solaris Resources (TSX: SLS) for gross proceeds of C$70.4 million. They add that this was done “in the ordinary course for investment purposes through the facilities of the Toronto Stock Exchange through block trades.” Equinox stated it […]
Carvana Rising Risk of Bankruptcy, Expected to Restructure Debt
On December 7th, Bloomberg reported that Carvana (NYSE: CVNA)’s largest creditors, Apollo Global Management and Pacific Investment Management, signed a pact “that binds them to act together in negotiations with the company.” Suggesting that there might be talks of debt restructuring to come and the creditors want to unite and not be a headache for […]
Canada: The Country of Renters
Canada, the nation typically heralded for the relative ease it takes to climb the social ladder, is now becoming a nation of renters as affordability issues, surging real estate prices, and shifting demographics prompt many to reconsider homeownership. According to a report by RBC economists Robert Hogue and Rachel Battaglia, there were nearly 5 million […]
Blackstone Withdrawals Mostly Coming From Asian Investors
Last week, after the WSJ announced that Blackstone Inc (NYSE: BX) would be selling its 49.9% stake in two Las Vegas Hotels for a total consideration of $1.27 billion, the company said it was limiting withdrawals. Stating they would make the move “after receiving too many redemption requests,” from their $69 billion real estate income […]
Anecdotal Evidence Suggests Demand for High-Priced Lucid Vehicles May be Waning
Investors may be growing more skeptical that Lucid Group, Inc. (NASDAQ: LCID) will achieve its full-year 2022 production target of 6,000-7,000 vehicles given recently reported actions. Furthermore, and even worse, there may be evidence that demand is waning for the company’s high-priced (but beautiful and well-made, by most accounts) electric vehicles. Lucid produced 3,687 vehicles over the first […]
Uranium Price Hits 4-Month Low as Corrosion Problem in French Nuclear Plants Undermine Confidence in Futures Prices
After rallying in late summer and again in October on pledges by western nations to increase nuclear plant spending, uranium spot prices have fallen back to US$48.50 per pound, levels last seen in late July. It appears that confidence in the nuclear power sector — and therefore in uranium prices — has been hit by corrosion […]
The Block CEO Resigns After Refusing to Reveal Loans Received from SBF’s Alameda Research
The Block’s CEO resigned after failing to disclose that he received numerous loans from Sam Bankman-Fried’s Alameda Research. As reported by The Block itself, the crypto news website’s own CEO Michael McCaffrey stepped down on Friday after other employees learned he received three loans from Alameda Research. McCaffrey, who will also resign from the company’s […]
RCMP Axe Contract With Chinese Radio Equipment Supplier Following Political Backlash
The RCMP suspended a contract with China-linked communications company in wake of backlash stemming from recent revelations of alleged Chinese political interference in Canadian federal elections. Canada’s Public Safety Minister Marco Mendicino on Thursday confirmed the RCMP suspended a radio communications contract with Ontario-based Sinclair Technologies, a company focused on designing and manufacturing radio frequency […]
SEC Has A Questionnaire For Companies To Disclose Crypto Exposure
The Securities and Exchange Commission is pushing corporations to clarify their exposure to distressed crypto entities in a new guidance announced Thursday, requiring companies that issue securities to disclose to investors their exposure and risk to the cryptocurrency market. “The Division of Corporation Finance believes that companies should evaluate their disclosures with a view towards […]