US Retailers Begin Rationing Baby Formula Amid Widespread Shortages
Major US retailers have started rationing baby formula over the weekend amid unprecedented demand and subsequent supply shortages. Some supermarkets and pharmacies in the US imposed quotas over the weekend on the number of baby formula products consumers can purchase at a time, due to “increased demand and various supplier challenges,” said Wallgreens spokesperson Steve […]
Clean Transition SPAC Monterey Capital Acquisition Prices Downsized US$80 Million IPO
Special purpose acquisition company Monterey Capital Acquisition Corporation (Nasdaq: MCACU) started trading its securities on the Nasdaq Global Market today. The firm priced its initial public offering, aiming to raise total proceeds of US$80.0 million. The offering will entail selling 8.0 million units, down from the original 10.0 million, priced at US$10.00 per unit. Each […]
Will Rising Oil Prices Impact Commodities? – The Daily Dive
Returning to the Daily Dive this afternoon is David Morgan, the founder and owner of The Morgan Report. David sits down with us today to discuss Musk’s latest Twitter antics, whether the Fed can achieve a neutral rate, and what he sees forthcoming for the oil sector. Also discussed is the current situation in crypto […]
Unity Software Plummets As Much As 37% After “Highest” Quarterly Revenue
Unity Software (NYSE: U) claimed it “delivered record quarterly revenue” in Q1 2022, billed as the “highest in the company’s history”. But the timing of its financial release post-closing bell suggests there’s more to the story. The tech firm posted US$320.1 million in Q1 2022, up from Q1 2021’s US$234.7 million, and met the company’s […]
US Consumer Prices Surpass Expectations Again, Signalling Persistent Inflation
Following March’s jaw-dropping 8.5% surge in consumer prices, last month’s print was forecast to show the Fed has been working hard at cooling inflation, with forecasts calling for inflation to come in at 8.1% year-over-year as per Dow Jones estimates. However, it appears that Fed Chair Jerome Powell hit the snooze button once again, because […]
MindMed Presents Positive Data Studying LSD In Treating Anxiety Disorders
Mind Medicine Inc. (NEO: MMED), more commonly known as MindMed, announced today that its top collaborators have released positive topline data related to its clinical trial evaluating lysergic acid diethylamide (LSD) in the treatment of anxiety disorders. Prof. Matthias Liechti and Dr. Friederike Holze, the firm’s collaborators at University Hospital Basel presented the data at London’s PSYCH Symposium today. “We […]
Roblox Records Missed Estimates In Q1 2022, Drops As Much As 10%
Roblox (NYSE: RBLX) reported on Tuesday its Q1 2022 financial results. The gaming company reported bookings of US$631.2 million, worse than the expected 0.9% year-on-year decline. The topline figure is also a drop from Q4 2021’s US$770.1 million and Q1 2021’s US$652.3 million. Revenue for the quarter also declined to US$537.1 million from last quarter’s […]
Hive Blockchain To Consolidate Shares At 5 To 1 Basis
Hive Blockchain (TSXV: HIVE) is looking to reduce its outstanding share count after reportedly holding multiple discussions with shareholders. The firm last night indicated that it intends to conduct a share consolidation. The company intends to conduct a five to one share consolidation, which will see its 411.2 million outstanding common shares reduced down to […]
McEwen Mining Posts Q1 Gross Loss, Explores Alternate US Listing
McEwen Mining (TSX: MUX) last night reported its first quarter 2022 financial results. The company reported gold production of just 20,850 ounces, and gold equivalent ounces of 25,100. Production declined significantly on both a quarter over quarter and year over year basis. On a quarter over quarter basis, production declined by 36.7% from 39,650 gold […]
Ascend Wellness Reaches Settlement With MedMen To Acquire New York Assets
It appears that attempting to void a sale agreement with Ascend Wellness Holdings (CSE: AAWH.u) has worked out well for MedMen Enterprises (CSE: MMEN). The dispute, which relates to the sale of MedMen New York, has evidently ended in MedMen’s favor. The dispute began at the start of January, when it Ascend claimed that MedMen […]