Saudi Arabia Looks To Purchase 100,000 Electric Vehicles From Lucid
When Tesla CEO Elon Musk made the US$43-billion offer to take over Twitter (NYSE: TWTR), one of the firm’s major shareholders, Saudi Arabian Prince Alwaleed bin Talal, rejected the deal. While he apparently lost that talk, another carmaker is getting a win by securing an undertaking with the Kingdom of Saudi Arabia for a 10-year […]
Spotify Shares Fall 12% Following Q1 2022 Earnings Release
Spotify Technology S.A. (NYSE: SPOT) announced today its highlight results for Q1 2022. The audio streaming giant notched a quarterly revenue of €2.66 billion, a marginal drop from Q4 2021’s €2.69 billion but a jump from Q1 2021’s €2.15 billion. While the firm saw an increase in users and subscribers, the trend seems to be […]
Will Crypto As Legal Tender Lead To More Economic Activity? – The Daily Dive
On todays episode of the Daily Dive, we see the return of Alex Mashinsky, chairman and CEO of Celsius Network. Alex joins us this afternoon to discuss whether it makes sense for automakers to enter the NFT space, taxes implemented on crypto by governments globally, and the adoption of crypto by corporations. Also discussed is […]
Pure Gold: Canaccord Suspends Rating After Operational Struggles
On Friday, Pure Gold Mining (TSXV: PGM) announced a number of updates for its investors. First, the company announced that it has received US$6 million from Sprott in a secured first-priority, non-revolving credit facility. In the terms of the facility, PureGold has to provide Sprott with a weekly budget for the business. PureGold’s CFO, Chris […]
Fire & Flower Plummets After Record 2021 Revenue
Fire & Flower Holdings Corp. (TSX: FAF) released on Tuesday its financial results for the fiscal year ended January 29, 2022. The report highlighted an annual revenue of $175.5 million, an increase from $128.1 million in revenue last year. While the company considers this a record performance, shares saw a sharp decline of 15.79% –trading […]
Archegos Owner Bill Hwang, CFO Arrested For Market Manipulation And Fraud
Close to a year after the US Department of Justice opened an investigation into the collapse of hedge fund Archegos Capital Management, a New York court issued an indictment and ordered the arrest of the fund’s owner Bill Hwang and CFO Patrick Halligan among others. Federal prosecutors filed a complaint against the former top honchos […]
Copper Mountain Mining Shares Drop After A “Difficult” Q1 2022
Copper Mountain Mining (TSX: CMMC) on Tuesday announced its Q1 2022 operational and financial results. The mining firm recorded $93.9 million in revenue compared to Q1 2021’s $162.2 million. The quarterly revenue came from the sale of 13.5 million copper pounds, 5,076 gold ounces, and 60,038 silver ounces. This is a sharp drop from 27.5 […]
Robinhood Lays Off 9% Workforce, Points To “Hyper Growth” Period
After its disappointing Q4 2021 financials, Robinhood Markets, Inc. (Nasdaq: HOOD) announced on Tuesday that it is letting go approximately 9% of its full-time employees. CEO Vlad Tenev shared the company-wide communique related to the announcement. He stressed that while the decision “was necessary,” it wasn’t taken lightly. The firm chief points the rationale for […]
Mako Mining Produces 11,577 Gold Ounces In Q1 2022
Mako Mining (TSXV: MKO) this morning posted its first quarter production results for its San Albino mine in Nicaragua. The company saw a total of 11,577 ounces of gold produced during the quarter. The results mark the third quarter since the company declared commercial production at the mine last July. Production in terms of gold […]
Verano Holdings Reports Q4 2021 Net Income Of $27.2 Million
Verano Holdings (CSE: VRNO) this morning reported its fourth quarter and full year financial results. The results released this morning follow the company last night posted amended financial results for the first three quarters of the year as a result of misstatements related to business combinations. Revenues for the fourth quarter came in at $211.4 […]