The past week has been a roller-coaster ride for the TSX. Volatility was the theme as the market saw dramatic rises and falls, influenced by global economic data, corporate earnings and geopolitical developments. In the face of this tumultuous backdrop, three stocks have garnered significant attention, for better or worse….
Nevada Copper Corp. (TSX:NCU, Forum) has made headlines with significant updates on its Chapter 11 bankruptcy proceedings and management changes. The company announced that it received interim approval from the Bankruptcy Court of the District of Nevada for its debtor-in-possession financing. This approval includes an initial borrowing of US$20 million out of a US$60 million commitment, aimed at funding care, maintenance and other requirements during the bankruptcy process.
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Nevada Copper is seeking a final order to approve the remaining borrowing to maintain liquidity throughout the restructuring period.
Nevada Copper has also secured approval to continue paying wages and benefits to its employees during this challenging period. To aid its restructuring, the company has turned to Moelis & Company LLC to manage a sale process. Investors will be keenly observing how these developments unfold and what potential buyers might emerge for the company’s assets.
Nevada Copper stock has fallen more than 68 per cent over the past month and last traded at $0.03 per share.
Cybersecurity has become a buzzword in tech this year. BlackBerry (TSX:BB, Forum) continues to assert its presence in the arena, reporting concerning figures in its latest Global Threat Intelligence Report for Q1 2024. The firm detected and stopped 3.1 million cyberattacks, averaging 37,000 per day. The report highlighted a concerning 40 per cent increase in malicious hashes compared with the previous reporting period, with 60 per cent of attacks targeting critical infrastructure sectors such as government, healthcare, financial, and communication industries.
Key insights from the report include:
- Geographic focus: 82 per cent of cyberattacks targeted the U.S., with 54 per cent of those attacks involving unique malware.
- Sector vulnerability: 36 per cent of threats targeted commercial enterprises, reflecting a 3 per cent increase from the previous period.
- Emerging threats: The report underscores the rapid weaponization of common vulnerabilities, especially in ransomware and infostealers.
BlackBerry’s proactive measures, including the launch of its enhanced CylanceMDR (managed detection and response) tool, are critical in combating these threats. As geopolitical tensions and election cycles drive cyber threats, BlackBerry’s defenses and solutions position it as a crucial player in protecting digital infrastructures globally.
BlackBerry ended 0.65 lower at C$3.04 a share.
Breckenridge Distillery, a subsidiary of Tilray Brands Inc. (TSX:TLRY, Forum), has unveiled the fourth edition of its Collectors Art Series, in collaboration with Los Angeles-based artist Abby Wren. This edition features a unique whiskey label and mural in Denver’s RiNo Art District, emphasizing inclusivity with Wren’s “Different is dope!” message. This message is deeply personal for Wren, who uses her art to advocate for diversity and inclusion after her experience with alopecia.
The latest Collectors Art Series release, the Breckenridge Sauternes Cask Finish, is a 95-proof whiskey with an alcohol content of 47.5 per cent alcohol by volume. The whiskey boasts aromas of white peach, apricot, and caramel, and flavours of butterscotch, orange and vanilla with a white oak finish. A portion of the proceeds from this edition will also support SOS Outreach, a nonprofit fostering youth development through outdoor adventures and mentorship.
Tilray closed more than 4 per cent higher at C$2.30
As Canada Day approaches, this special whiskey could be a delightful addition to celebrations, reflecting artistic expression and premium craftsmanship.
The TSX has certainly seen its share of drama this week, with significant developments from Nevada Copper, BlackBerry and Tilray Brands’ Breckenridge Distillery. Investors should stay informed and conduct thorough due diligence to navigate the market’s ebbs and flows successfully. Keeping abreast of corporate updates and market trends will be essential for making informed investment decisions in this dynamic environment.
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(Top image: AI-generated file photo)