Author: Alexander Lee

Ohio’s Division of Cannabis Control recently issued the state’s initial sales licenses, enabling 98 dispensaries to serve both recreational and medical customers. Market analysts project that the cannabis sales in Ohio could reach between US$1.5 billion to US$2 billion in the first year and potentially escalate to US$3.5 billion to US$4 billion by the fourth year. Various Canadian companies, including Ascend Wellness, The Cannabis Company, Acreage Holdings, AYR Wellness, Trulieve, and Cresco Labs, have a presence in Ohio and are poised to benefit from this emerging market. The legalization of recreational sales in Ohio, following a favorable vote, allows individuals…

Fluctuations in the stock market are common and contribute to its dynamic nature. While it is natural for stocks to experience rises and falls within a reasonable range, drastic declines of over 70% or 80% are less typical. However, a specific sector, such as the cannabis industry in Canada, has seen a substantial and persistent decline in recent years, with some stocks, like Aurora Cannabis, being particularly impacted. Aurora Cannabis, once a prominent player in the Canadian legal marijuana sector, witnessed significant growth, with its stock value increasing by over 22,000% in less than six years. However, the stock has…

For dividend investors, the opportunity to acquire Canadian Utilities, Enbridge, and Fortis stocks presents itself as a lucrative option this August. These renowned dividend-paying companies are set to have upcoming record dates in August 2024. To be eligible for the next dividend payout, investors must secure these stocks at least two business days prior to the record date. Canadian Utilities, an energy infrastructure corporation, stands out as a reliable source of passive income with its diversified portfolio, rate-regulated assets, and defensive business model. The company has a remarkable track record of increasing dividends annually for the past 52 years, positioning…

Stocks rose and bonds fell as recent data on retail spending and the labor market in the United States highlighted the strength of the economy, alleviating concerns about a potential slowdown that could prompt the Federal Reserve to make drastic moves. The S&P 500 continued its six-day rally, marking a 6.6% increase – the highest percentage gain in such a short time since November 2022. Positive outlooks from companies like Walmart Inc. contributed to the market optimism. Treasury yields saw an uptick, particularly in shorter maturities. Strong retail sales figures and the lowest jobless claims since early July reassured investors.…

Singapore has recently filed charges against two former bank relationship managers for their alleged involvement in a major money-laundering case worth S$3 billion ($2.3 billion). This marks the first criminal actions taken against finance professionals in this scandal. The first individual, Wang Qiming, a 26-year-old Chinese national who previously worked at Citibank Singapore Ltd., was charged with 10 counts, including forging documents for the purpose of deceiving the bank. The charges were read out in a local state court, and Wang appeared in court wearing a white hooded sweatshirt, black pants, and white sneakers. He is currently out on bail…

Amid challenging economic conditions, many Canadians are adjusting their spending habits, exhibiting behavior reminiscent of times of economic hardship in history. While Canada is not officially in a recession, with its jobless rate standing at 6.4% as of July, there are signs of economic stress. Despite experiencing weak growth in the past year, the Canadian economy has not contracted for two consecutive quarters, avoiding the technical definition of a recession. Economists, including Charles St-Arnaud, have characterized the current economic climate as a “me-cession,” acknowledging the strain on individual households despite the overall resilience of the Canadian economy. Factors such as…

Certain stocks present themselves as unique investment opportunities that only arise once in a decade. These stocks have the potential for exceptional growth, especially during distinctive market conditions or periods of breakthrough innovations. In the past, stocks such as those in the Magnificent Seven category have yielded remarkable returns, with some even exceeding 1,000% over a decade when purchased at the right time – often during market disruption, economic downturns, or at an early stage of development. For instance, amidst the 2008-2009 financial crisis, the stock price of a well-known company dropped significantly, only to rise to extraordinary levels within…

We are currently witnessing the onset of the artificial intelligence (AI) revolution, with computers evolving to become more intelligent and intertwined with our daily lives. Back in the 1980s, semiconductors had limited applications in computers, servers, electronics, and telecommunications devices. Fast forward 40 years, the semiconductor content in these devices has significantly increased, ushering in the age of the internet, mobile revolution, and cloud expansion. As we enter the digital era, the AI revolution stands poised to elevate digital cloud solutions to unprecedented heights. Given this landscape, individuals may consider investing in the AI revolution within the digital realm with…

The upcoming U.S. elections in November are a topic of great interest on both sides of the border. The Market Online recently had a discussion about the election’s impact on the U.S. and Canadian markets with Mathis Baumbach, who is a portfolio manager and investment advisor at Richardson Wealth. During the discussion, the conversation centered around how the current candidates could potentially influence the markets, with an emphasis on the Canadian perspective, as well as an analysis of the historical performance of markets under Republican and Democratic leadership. Baumbach also provided insights on how corporate taxes, immigration policies, and green…

Shopify, a global e-commerce company traded on TSX/NYSE, reported substantial growth in Q2 2024 in terms of revenue and profitability. Revenue increased by 21% to US$2 billion, and gross profit saw a 25% growth to US$1 billion compared to the previous year. Shopify’s e-commerce solutions are utilized by numerous businesses in over 175 countries. In the NYSE pre-market period, Shopify’s stock rose by 18.50%, trading at US$64.25 per share as of 8:25 am ET. Key highlights of Shopify’s Q2 2024 performance include a 22% increase in Gross Merchandise Volume (GMV) to US$67.2 billion. Revenue grew by 21%, reaching US$2 billion,…