August has been a rough month for North American stock markets, with red days and a lot of flat trading activity.
Shares of U.S. banks fell this week after several regional lenders were hit with a credit downgrade. Retailers are stuck with products that aren’t selling, a sign of those consumer worries.
As the largest investor hub in Canada, Stockhouse has plenty of small-cap focused users invested in the dramatic gains and losses made each week.
Now is as good a time as any to check in with the most-viewed stocks of each sector on the Bullboards and see the current state of the markets.
Tilray Brands (TSX:TLRY, Forum) has acquired the remaining 57.5 per cent equity ownership of Truss Beverage Co. from Molson Coors Canada (NYSE:TAP).
The cannabis producer explained that THC beverages present a significant opportunity to engage legal-aged consumers who haven’t explored cannabis as a lifestyle, medical or functional choice.
According to Statistics Canada data, more than 10.6 million potential consumers nationwide remain “untapped,” with cannabis beverages earning almost $100 million at retail, as reported by Statista.
Tilray Canada’s president, Blair MacNeil, said in a statement that in addition to acquiring full and direct ownership of a stable of high-growth brands, this acquisition further strengthens the company’s top market share position and puts the company at the forefront of the adult-use beverage sector.
“We are excited to build upon our leading portfolio of beloved cannabis brands and to further diversify our product offerings while broadening our consumer reach and enhancing consumers’ lives,” MacNeil said.
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The company added that beyond the cannabis industry, functional beverages represent significant growth. These beverages offer consumers the functional advantages of THC and the diverse range of minor cannabinoids. These elements provide many benefits and other opportunities that enhance the lives of adults. It can also enhance its commercial framework with as far as sales and distribution are concerned.
Molson Coors is the fifth-largest beer producer globally, while Truss is a wholly owned subsidiary of Tilray, a licensed producer of cannabis products in Canada.
Clean technology company Exro Technologies’ (TSX:EXRO, Forum) stock rose 3.3 per cent this week after reporting the successful certification of its Cell Driver battery modules to the Underwriters Laboratories’ (UL) 1973 standard.
UL 1973 is an industry standard for stationary energy storage systems. The certification confirms “Exro’s modules’ quality, resilience and ability to operate safely and effectively in a variety of conditions,” according to a statement released Tuesday.
The Cell Driver will now move to the final phase of testing for UL certification, which is required to connect to the North American utility grid. The company expects to complete its certification in Q4 2023 followed immediately by initial Cell Driver production.
Exro’s network of channel sales partners is fielding a high volume of quotes for initial applications with first pilots and purchase orders expected later this year.
Edgewater Wireless Systems’ (TSXV:YFI, Forum) breakthrough MLX 488 WiFi7 platform is in high demand.
Specializing in Wi-Fi spectrum slicing technology for residential and enterprise markets, the company has reported strong demand from multiple Tier-1 service providers and original equipment manufacturers supported by requests for engineering samples of Edgewater’s cutting-edge MLX 488 WiFi7 spectrum slicing platform.
Spectrum slicing allows a frequency band to be divided, or sliced, to enable more radios to operate in a given area. Its AI-enabled, dynamic channel width selection supports up to 28 concurrent links/channels, and it is the first high-performance multi-link operation solution engineered to support multiple, concurrent multi-link connections.
Edgewater is currently undertaking focused engineering efforts and is targeting delivery in Q2 2024.
With Edgewater’s Wi-Fi spectrum slicing, service providers and vendors are no longer forced to replace all existing devices, such as WiFi4/5/6, on the network to benefit from the evolving Wi-Fi 7 standard. This means the 20-plus billion existing Wi-Fi devices, such as TVs, smartphones, and gaming consoles, do not need to be replaced to realize the gains associated with spectrum slicing.
Next week on Buzz on the Bullboards we’ll round out the month of August and see how sectors are shaping up during the summer 2023 season. You can catch up on the action right here on the website or subscribe to the newsletter to get the weekly review delivered directly to your mailbox.
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