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 […]
Kinross Gold Reports Q1 Net Loss Of $523.9 Million Due To Russian Asset Sale
Kinross Gold (TSX: K) yesterday evening announced its first quarter 2021 financial results. The results mark the first quarter in which the firm has not included the topline revenue from its former Russian operations, a result of the assets being classified as discontinued as of the quarter end. Revenue for the quarter amounted to $768.0 […]
Coinbase Global Records Revenue Decline Of 53% Quarter Over Quarter
Coinbase Global (NASDAQ: COIN) this evening reported one of its worst quarterly earnings report since going public. The company has seen its revenue effectively fall of a cliff amid a rout in the crypto market. Earnings for the first quarter of 2022 amounted to just $1,165 million, a 27% decline from the $1,597 million in […]
Tesla Stops Nearly All Production at Shanghai Factory Amid Parts Shortages
Tesla (NASDAQ: TSLA) has reportedly suspended nearly all production at its Shanghai factory, after running into shortages of input materials. According to an internal memo cited by Reuters, Tesla’s Shanghai factory stopped nearly all production after facing difficulty procuring electric vehicle parts. The carmaker plans to produce less than 200 vehicles per day as of […]
Shopify CEO Tobi Lütke Wants Financial Analysts To Be Held Accountable
Tobias Lütke, founder and CEO of Shopify, Inc. (TSX: SHOP), took to Twitter to ponder whether anyone was tracking the accuracy of financial analysts, and whether they’re being “held accountable” for their projections. His followers, meanwhile, think he should just focus on his company. Lütke’s tweet comes just a few days after the e-commerce platform’s […]
DraftKings Reports Large Loss in 1Q 2022, Also Boosts 2022 Revenue Guidance
On Friday, DraftKings Inc. (NASDAQ: DKNG) reported 1Q 2022 earnings. Revenue grew 34% on a year-over-year basis, although it was down sequentially from 4Q 2021. DraftKing’s quarterly adjusted EBITDA loss expanded to about US$290 million as the company continued to boost marketing expenses needed to acquire new customers. While the friendlier stock market of 2H 2020 and the […]
BMO Lowers Aritzia’s Price Target, Points To Inflation Headwinds
Last week Aritzia (TSX: ATZ) reported their fiscal fourth quarter ending February 26 results. The company reported revenues of $444.32 million, an increase of 66% year over year. Retail revenues amounted to $262.35 million, for an increase of 123% year over year. eCommerce revenue also remained strong, growing 22% year over year to $181.97 million […]
Dating App Grindr Swipes Right To Potential US$2.1 Billion SPAC Merger
LGBTQ+ dating app Grindr announced on Monday the potential business combination agreement with special purpose acquisition company Tiga Acquisition (NYSE: TINV). The transaction values the combined company at an enterprise value of US$2.1 billion. Through the deal, the online platform is expected to generate proceeds of around US$284 million in cash from the SPAC and […]
Are We On The Cusp Of A Precious Metals Rally? – The Daily Dive
Today on the Daily Dive, we see the return of Craig Hemke of TF Metals Report. Craig joins us today to discuss the recent rate hike by the Fed and whether they can tame inflation to the neutral rate, what he’s seeing in the US labour market, and what might really be happening within China, […]