The OpenDoor Real Estate Robot
In the style of most successful tech ventures of a 2014 vintage, OpenDoor Technologies (NASDAQ: OPEN) didn’t set out to be a business that trades in real estate; just a platform that facilitates the trading of real-estate, and eventually disrupts it. The company went public in 2020, did well on the NASDAQ initially, but has […]
Kinross Gold Closes Sale Of Ghana Operations For $225 Million To Asante Gold
Kinross Gold (TSX: K) has continued on its process of divesting of certain mining assets in global jurisdictions, announcing last night that it has managed to complete the sale of the Chirano Mine in Ghana. The property was sold off to Asante Gold (CSE: ASE), whom is rapidly becoming a sizable operator in the region. […]
Verses Technologies Closes First Tranche Of $5.2 Million A Day After Announcing Financing
Verses Technologies (NEO: VERS) has closed the first tranche of its private placement, which was announced just yesterday. Under the first tranche the company managed to raise $5.2 million, which represents more than half of the total $10.0 million intended to be raised by the company. Under the terms of the financing, Verses is looking […]
Mind Medicine Sees Co-Founder Become An Activist Shareholder Demanding Changes
An activist shareholder battle might be brewing at Mind Medicine (NEO: MMED). This morning, co-founder of the company Dr Scott Freeman, via his holding company FCM MM Holdings, LLC, issued a release calling for changes at the company. Chief among the changes, is that he is demanding a new strategic plan to change the direction […]
Former JPMorgan Traders Convicted of Manipulating Gold Prices
The Justice Department found two former JPMorgan traders guilty of manipulating gold prices by placing misleading orders and ultimately rigging the precious metals market. As reported by the Wall Street Journal, Michael Nowak, who at the time was head of JPMorgan Chase’s precious metals desk, and Gregg Smith, a top gold trader, were convicted of […]
Falling Deeper Into Debt: Americans Open Credit Card Accounts At Record Numbers
With inflation soaring to 40-year highs, Americans are finding it difficult to make ends meet. As a result, many are increasingly relying on credit cards and personal loans for purchases, and falling even deeper into debt. But according to TransUnion, that’s doesn’t necessarily mean the US consumer is in trouble. The credit rating agency’s credit […]
Roblox Posts Flat Bookings, Wider Losses, First Sequential Active Users Decline In Q2 2022
Roblox (NYSE: RBLX) reported on Tuesday its fiscal Q2 2022 financial results ended July 2022. The gaming company reported a flat bookings of US$639.9 million from Q1 2022’s US$631.2 million but a decline from Q2 2021’s US$665.5 million. Revenue for the quarter however increased to US$591.2 million from last quarter’s US$537.1 million and from last […]
America’s Economic Productivity Slumps to Weakest Since 1947 While Labour Costs Soar
America’s economy is falling behind. US productivity fell by the most on record in the last quarter while labour costs continued to accelerate, suggesting that inflation may be here to stay for awhile longer. Nonfarm business employee output per hour, which defacto measures the level of productivity in the economy, fell by an annualized 4.6% […]
Hedge Funds Might Soon Have To Report Crypto Exposures
The Securities and Exchange Commission and the Commodity Futures Trading Commission are reportedly putting forward a proposal on Wednesday that would require hedge funds to report their bets, including exposure to cryptocurrency. The proposal entails having the investment funds file a confidential Form PF with the regulators–a form devised after the 2008 financial crisis so […]
“Steer Clear Of The Loonie”: David Rosenberg Projects Canadian Economy “Headed For Trouble”
The cooldown from the overheating housing market could negatively impact the Canadian economy, believed to be headed for a more pronounced recession. But the ramifications could be much worse. Rosenberg Research & Associates founder David Rosenberg, who said more than a year ago that the housing market “might be [in] one of the biggest bubbles […]