S&P ESG Index Boots Tesla Over Poor Working Conditions, ‘Lack of Low Carbon Strategy’
It appears that Tesla (NASDAQ: TSLA) lost its highly prized spot on the S&P 500’s ESG Index amid compounding accusations of poor working conditions and inadequate low-carbon initiatives. As part of a routine annual update, the index booted Tesla from its list after the EV maker failed to meet criteria that even Apple, Microsoft, Amazon, […]
Russian Ruble Soars to 4-Year High Against US Dollar
The ruble continues to strengthen against the US dollar and the euro, as demand for Russia’s currency rises following its new gas payment mechanism, upcoming corporate tax payments, and capital controls. The ruble reached a high of 62.0 against the US dollar on Friday, marking the strongest it’s been since March 2018. Russia’s currency also […]
Analysis: Goldman Sachs Warns of Inflation, Recession
Goldman Sachs (NYSE: GS) Senior Chairman Lloyd Blankfein was making the media rounds this past week, warning that companies and consumers ought to brace for a recession. It’s a message that echoes a report in which Goldman’s inflation calculations led to a cut of its GDP growth forecast for 2022 from 2.6% to 2.4%, and […]
Biotech Firm OKYO Pharma Closes US$2.5 Million IPO
Biotech firm OKYO Pharma Limited (Nasdaq: OKYO) closed on Thursday its initial public offering on the Nasdaq Capital Market. The firm was able to raise approximately US$2.5 million in its debut on the big board. The offering consisted of 625,000 American depository shares at US$4.00 per share. The company’s shares are trading under the symbol […]
Canaccord Lowers Cresco Labs’ Price Target To $9.50
On May 18th, Cresco Labs (CSE: CL) reported its first quarter financial results. The company reported revenues of $214 million, down slightly from the $217.79 million the company reported last quarter. While the company reported gross profits of $113 million, or a margin of 53%. The company saw its wholesale revenue come in at $95 […]
What’s Going On With Aurcana Silver?
A new elevator in the pipeline, a 17.7-million ounce silver mine, and a fresh $28 million term loan–things were looking up for Aurcana Silver (TSXV: AUN) when the year started. Fast forward to today, the firm is scrambling for funding sources led by a missing-in-action CEO. The shares have also been trading at their lowest. […]
Ekos Poll: Justin Trudeau Losing Support From Canadians Under 50
A new Ekos poll shows that the Liberals are losing ground to the Conservative party, particularly among Canadian voters under 50 years of age. The poll, which surveyed 1,236 respondents across the country between May 13 and May 17, found that the Conservatives hold 35.4% of the vote should a hypothetical federal election be held […]
Crypto Crash, Pierre Poilievre, and the Madonna NFT Snatch
Following a violent correction in the cryptocurrency markets, and with no small amount of schadenfreude, various corners of the legacy press have pronounced that crypto assets, including NFTs, are as dead as disco. The May 10th collapse of “stablecoin” TerraUSD (UST); an ill-conceived instrument that used the algorithmically governed, automatic minting of associated LUNA coins […]
Cineplex: Canaccord Lifts Price Target To $18 On Improving Outlook
On May 13, Cineplex Inc. (TSX: CGX) reported its first quarter financial results. The company announced revenues of $228.7 million, up 452% from its 2021 pandemic results. The company saw its net loss get cut in half year over year, going from $89.7 million in 2021 to $42.2 million in 2022. Additionally, the company reported […]
Justin Trudeau to Ban Huawei from Canada’s 5G Networks
The Liberal government is expected to ban all Huawei devises from Canada’s 5G networks, in the latest move to align with America’s soured relations with the communist country. According to Bloomberg, which cited a government official familiar with the matter, Prime Minister Justin Trudeau is expected to deliver an announcement later today regarding a ban […]