Green Thumb: Despite Earnings Beat, Analysts Lower Targets On Sector Headwinds
On August 3, Green Thumb Industries (CSE: GTII) reported its second quarter financial results. The company announced that revenue grew 5% sequentially and 15% yearly to $254.3 million. The company reported gross profits of $125.8 million or 49.5%, while profits were up notionally from $122.9 million, and margin was down from 55.4% last year. Selling, […]
How Can We Prevent Another Guo’s GTV Investment Scheme?
Almost a year ago, the Securities and Exchange Commission (SEC) issued a cease-and-desist on Steve Bannon and Guo Wengui’s GTV Media Group, along with parent firm Saraca Media Group and Guo’s Voice of Guo Media. The collective has been identified as offering unregistered securities and was able to raise US$487 million from more than 5,000 […]
Democrats Unveil Tax on Stock Buybacks
The Democrats are preparing to bring back a law that would slap a tax on stock buybacks, closing the popular loophole used by large companies to raise stock prices. The Senate Democrats on Thursday unexpectedly added back a provision into their healthcare and climate package that will tax the value of corporate stock buybacks at […]
‘Big Short’ Investor Michael Burry Cautions About ‘Silliness’ In The Markets
It’s not yet time to breathe a sigh of relief. “Silliness is back,” according to Michael Burry. The investor and hedge fund manager took to Twitter on Thursday to caution people about “silliness” in the markets as stocks rally and rebound from 2022 lows. The investor compares today’s COVID-era markets to 2001 before the September […]
Sanctions On Russia Are Working: Yale Paper
It seems like eons ago but the ongoing war in Eastern Europe sparked by Russia’s decision to launch an invasion of Ukraine just started early this year. The geopolitical instability it caused had a tremendous economic impact both on the belligerents and its superpower trade partners. The war has been punctuated with numerous sanctions (on […]
Coinbase Partners With BlackRock, World’s Largest Asset Manager, In A Bid To Court Institutional Investors
The world’s largest asset manager meets the world’s largest cryptocurrency exchange platform as BlackRock (NYSE: BLK) and Coinbase Global (Nasdaq: COIN) team up to widen the bridge between institutional investors and digital asset trading. The partnership essentially provides BlackRock clients an avenue to manage their portfolio–traditional securities and digital assets alike–all within the firm’s investment management […]
Beyond Meat Rallies 21% Despite Missing Estimates In Q2 2022, Announcing Job Cuts
Beyond Meat, Inc. (Nasdaq: BYND) released on late Thursday its Q2 2022 financial results, which saw the company post US$147.0 million in quarterly revenue. This is a marginal decrease from Q2 2021’s revenue of US$149.4 million and also misses the consensus estimate of US$151.0 million. Breaking down the topline quarterly figure, US operations contributed US$102.3 […]
Home Sales in Canada’s Hottest Real Estate Market Crash 47% in July
Canada’s largest real estate market does not appear to be having an energetic summer this year. Latest data from the Toronto Real Estate Board (TRREB) shows that home sales plummeted 47.4% from July 2021, as sales activity fell 24.1% month-over-month. With the Bank of Canada aggressively raising interest rates, many potential homebuyers decided to remain […]
Denison Mines Records $6.8 Million In Revenue, $16.1 Million Net Loss In Q2 2022
Denison Mines Corp. (TSX: DML) shared on Thursday its Q2 2022 financial results, highlighting a quarterly revenue of $6.8 million. This is an increase from Q2 2021’s revenue of $4.6 million. The mining firm touts that this includes the gain from selling around 40,000 U3O8 pounds–its share of production from the SABRE test mining program […]
Canada’s Labour Market Loses Over 30K Jobs in July as Economy Slows
Canada’s economy is shedding the quantitative easing momentum that was exorbitantly ejected throughout the Covid-19 pandemic. For a second straight month, the labour market lost tens of thousands of jobs, as 40 year-high inflation and rising interest rates took a bite out of what was a momentarily resilient economy. Latest data from Statistics Canada paints […]