Acuityads cash account The good news for Acuityads shareholders is they held a lot of cash in a stronger $ US currency. Also, the company is able to acquire companies at a much better valuation today than when they first raised equity. The bad news is they didn't do anything with that money. It didn't collect any interest and it's no wonder Silicon Valley Bank went under. In the last fiscal year, the company acquired C $14,499,976 worth of shares with that cash but what did they do with the rest?
The banks will have a tough time competing when treasury yields are moving higher. It is disappointing that Acuityads held so much money at one location when FDIC insurance only covers up to US $250k. If you're going to be hoarding cash for almost 2 years, at least diversify your holdings to other banks to minimize your potential losses.
Hopefully this situation lights a fire up their butt so they make a strategic move with that cash.