Lordstown Motors Finalizes Accord with Foxconn – But Cash Sufficiency Issues Remain
On May 11, Lordstown Motors Corp. (NASDAQ: RIDE) finally reached an agreement with Hon Hai Technology Group (better known as Foxconn, the assembler of Apple’s iPhones) to develop the Endurance all-electric pickup truck that Lordstown created. Had the accord not been finalized, Lordstown likely would have been forced to seek bankruptcy protection. In response, Lordstown’s stock rallied nearly 50% […]
Cronos Group: Canaccord Lifts Rating, Price Target On Q1 Earnings Beat
On May 10, Cronos Group (TSX: CRON) reported its first quarter financial results. The company announced that its revenues doubled year over year to $25.03 million, which was helped by the company’s “Rest of World” segment growing 123% to $22.7 million. While the company’s United States revenues saw a 5% drop to $2.33 million. The […]
Amid Cracks In Q1 2022 Financials, Glass House Brands Touts Licenses & Acquisitions Instead
Glass House Brands (NEO: GLAS.A.U) reported on Thursday its Q1 2022 financials, toplined by a quarterly revenue of $14.0 million. This is a 24% decline from $18.4 million in Q4 2021 and an 8% decline from $15.2 million in Q1 2021. But Chairman and CEO Kyle Kazan wants to talk about the future instead. “We reached […]
Shopify CEO and Execs Are Personally Buying Stocks To Put Their Money Where Their Mouth Is
Founder and CEO Toby Lütke and other senior executives are personally buying Shopify (NYSE: SHOP) shares from the open market. The show of faith follows as the company’s stock price continues to drop. Lütke announced on Wednesday that he placed an order for US$10 million through a tweet that quotes FirstMark Capital founder Amish Jani’s […]
Fracking Firm ProFrac Prices US$288 Million IPO
Hydraulic fracturing company ProFrac Holding Corp. (Nasdaq: PFHC) began trading on the Nasdaq Global Select Market today. The firm’s initial public offering is looking to raise US$288.0 million and is expected to close on May 17, 2022. The offering consists of 16.0 million common shares selling at US$18.00 per share. The firm said the proceeds […]
Is The Price of Uranium Headed Higher? – The Daily Dive
Closing out the Daily Dive this week is Scott Melbye, CEO of Uranium Royalty Corp (TSXV: URC). Scott joins us this morning to discuss the uranium trade, recent ETF acquisitions in the space and fund activity in the nuclear fuel investment space. Also discussed are the current implications of geopolitical tensions on the supply of […]
Elon Musk ‘Temporarily’ Shelves $44 Billion Twitter Deal to Conduct Due Diligence
Elon Musk has decided to temporarily halt his acquisition of Twitter (NYSE: TWTR), in order to allegedly conduct due diligence on the social media company’s fake accounts data. Musk on Friday tweeted that his planned $44 billion purchase of the San Francisco-based company was put “temporarily on hold” while he awaits additional data on the […]
El Salvador’s Failed Bitcoin Experiment: Country Expected to Default as Crypto Carnage Continues
The massive slump in the world’s biggest cryptocurrency is not faring too well for traders and is especially troublesome for El Salvador, which just last September made bitcoin legal tender in hopes of bringing more financial freedom to its citizens. A number of global factors, including rising inflation and subsequent interest rate hikes, the war […]
TerrAscend Hits US$49.7 Million In Revenue, US$16.0 Million Net Loss In Q1 2022
TerrAscend Corp. (CSE: TER) reported late Thursday its Q1 2022 financial results, which saw the company post US$49.7 million in revenue. The topline figure is a decline from Q1 2021’s revenue of US$53.4 million. The cannabis firm relayed that the revenue decline is mainly driven by a temporary impact of the vape recall on the Pennsylvania business. […]
Affirm Holdings Surges 34% After Fiscal Q3 2022 Financials, Extended Shopify Partnership
It seems Affirm Holdings, Inc. (Nasdaq: AFRM) is affirming a u-turn in its performance after the company’s shares rose 33.6% in after-market trading. This is on top of its 23.3% surge on the day. The payment platform has seen its shares in a constant downward trend overall, having traded at the US$95-mark when the year began, […]