Are you expecting a relaxed market heading into the holidays? That will hardly be the case.
Savvy investors and brokers know this is the time to shine.
With every twist and turn the global economy has been throwing our way, the right move is keeping active.
This past week, some shareholders have received early gifts courtesy of rising stock prices, while others have had “lumps of coal.”
The end of the personal fiscal year is right around the corner and signs of increased activity are everywhere you look.
Investors want to cash in, brokers are out to score a few big deals, and companies will try to impress current and prospective shareholders. Everyone is game to win heading into the finish line, so let’s look at some of the stocks that are standing out from the pack at pole position and who has spun out.
What a year it has been for Canopy Growth Corp. (TSX:WEED, Forum). The cannabis company intends to consolidate its shares on a 10-for-1 basis to reach the NASDAQ’S minimum US$1 bid requirement.
The consolidation, subject to TSX and Nasdaq approval, will become effective on Friday, with post-consolidation shares trading on the exchanges as of market open on Dec. 20.
Fractional shares will be considered tendered for cancellation by the registered owners for no consideration.
Trading symbols will remain unchanged, though they will be classified under a new CUSIP number: 138035704.
The move is the latest in a number of efforts to change the company’s unprofitable track record – including asset sales, debt reduction, and a renewed focus on medical cannabis – as it adapts to steep competition and overproduction in the Canadian cannabis market, and the glacial pace of legalization in the United States.
Aviation giant Bombardier Inc. (TSX:BBD, Forum) has redeemed all of its outstanding US$380 million aggregate principal amount of its 7.50 per cent senior notes due 2025.
The company had announced the redemption price is 100 per cent of the principal amount redeemed, plus accrued and unpaid interest.
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Senior notes are a type of bond that have priority over other debts in case a company declares bankruptcy. While they have a lower degree of risk compared with stocks, senior notes often also pay lower rates of interest.
Senior notes are a common way for companies to borrow money with lower interest than other kinds of debt. When notes are redeemed for company shares, they reduce the businesses’ debt obligations.
Datametrex AI Ltd. (TSXV:DM, Forum) has removed Marshall Gunter as CEO and director in a bid to improve its poor financials and stock performance.
Gunter will be replaced by Charles Park, who has been serving as Datametrex’s chief operating officer, and brings more than a decade of experience in banking, technology and online gaming. His previous roles span FX trading, corporate lending and operational management.
Park, who will also be appointed to the board of directors, will be tasked with optimizing the company’s ability to capitalize on opportunities in healthcare and technology on the road to consistent profitability. His vision for the future of the company will be released to shareholders in the near future.
Datametrex has posted a net loss in four out of the past five years, with net losses between C$1.25 million and C$3.07 million through three quarters in 2023.
As we wrap up 2023, it is time to look to the new year ahead, and see if the holidays have a positive effect on the markets in the form of a “Santa Claus Rally.”
From the newest hot sectors and rising small-cap opportunities, to the monumental shakeups and stories that seem to pop up out of nowhere to captivate the markets, make sure to stay tuned, and for previous editions of Buzz on the Bullboards, click here.
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