STOCKS TELEGRAPH

Author: ST Staff

  • Has Trulieve (TCNNF) Stock Calmed Last Session For A Reason?

    Has Trulieve (TCNNF) Stock Calmed Last Session For A Reason?

    The leading and top-performing cannabis company in the United States, Trulieve Cannabis Corp. (OTCQX: TCNNF) closed the last session around $38.260 after seeing its market cap rise 0.42% to $2.67B.

    There have been 69.63M shares of TCNNF stock outstanding with 29.23M shares available for trading. In light of plans to open a new store, TCNNF stock rose.

    Where has TCNNF been moving to?

    As an American “seed-to-sale” company, Trulieve primarily focuses on domestically grown cannabis. TCNNF is one of the first and largest licensed medical cannabis companies in the State of Florida. All products are cultivated and produced in-house by TCNNF, and then distributed to Trulieve-branded stores (dispensaries) throughout Florida, in addition to directly to patients through home delivery.

    TCNNF’s operations in Commonwealth of Massachusetts have been approved by the Massachusetts Cannabis Control Commission, Trulieve announced this week.

    • The TCNNF is slated to open its first dispensary in the state on June 3.
    • Mayor David Narkewicz will cut the ribbon on the dispensary in Northampton at 3:00 p.m.
    • Located on North King Street in Northampton, Massachusetts, 216 North King Street will serve both adult customers and patients requiring medical marijuana.
    • June 3, 2021, will be the first day of business for TCNNF’s new store.

    What other plans does TCNNF have?

    The Massachusetts store opening also represents a launch of the new brands from Trulieve (TCNNF). TCNNF offers a suite of brands built around its brand purpose: Cultivating Human Potential, allowing recreational and medical users alike to experience life to the fullest. Over the next few weeks, TCNNF will roll out the complete product line at the Northampton store.

  • On What Basis Did SBGSF Stock Advance?

    On What Basis Did SBGSF Stock Advance?

    The global leader in the digital transformation of energy management and automation, Schneider Electric S.A. (OTCPK: SBGSF) closed at $161.82 during the last session after seeing some traction of 1.55% that pushed its market cap to $93.73B.

    Schneider stock traded 1.26K shares on the day against its average daily volume of 1.92K. Additionally, SBGSF’s stock has traded between $154.55 and $161.82. Since SBGSF stock rose when there was no news, there may be some reason to think that recent developments will reveal more information regarding SBGSF stock.

    How has SBGSF been recently?

    In addition to electrical car chargers, Schneider manufactures industrial robotics. Schneider is dedicated to promoting progress and sustainability for all while economizing energy. Life Is On is what the SBGSF calls this. SBGSF strives to be the digital partner of choice for the sustainability and efficiency of its customers.

    French electrical equipment maker Schneider Electric raised its full-year outlook last month. Sales of SBGSF’s energy management and data centre products surpassed expectations in the first quarter, enabling the company to increase its guidance.

    The company plans to increase adjusted earnings before interest, taxes and amortization (EBITA) by 14%-20% in 2021 with revenues expected to gain 8%-11%. Previously, EBITA was forecast to grow by 9%-15% this year, driven by sales that are up 5%-8%.

    Other than that:

    Recent announcements from Schneider Electric highlight its Wholesale Building Management Distributor Program. The new formalized partner program highlights SBGSF’s commitment to helping distributors increase sales, grow revenue, and expand their business by providing better resources and incentives.

    With the Wholesale Building Management Distributor Program, Schneider Electric (SBGSF) partners are able to offer mechanical contractors and facility managers products specifically designed to meet today’s demand for quality, reliability, affordability, and energy efficiency.

  • Why Did VYGVF Stock Spiked In Last Trading?

    Why Did VYGVF Stock Spiked In Last Trading?

    Voyager Digital Ltd [OTXQB: VYGVF] stock reached $21.214 at the previous close, jumping 5.28%. Volume for Voyager stock was 905.65K versus the 30-day Average Volume of 976.09K. In the last 52 weeks, the VYGVF stock price ranged from $0.2125 to $30.200. VYGVF stock rose on news of its joining the Blockchain Association emerged.

    How did VYGVF begin with it?

    Investors and institutions can trade crypto assets effortlessly through Voyager, a publicly-traded holding company that offers a crypto-asset trading platform. With a smart order router and a custody solution covering a wide array of popular cryptocurrencies, the Voyager Platform provides competitive price execution for its customers. Established Wall Street and Silicon Valley entrepreneurs teamed up to create VYGVF to offer investors a more transparent, efficient, and cost-effective option for trading crypto-assets.

    Voyager announced its membership in the Blockchain Association yesterday via press release. Association members promote innovation and collaboration to help the cryptocurrency industry succeed in the United States.

    As the newest member of the Blockchain Association, VYGVF will be able to devote itself to initiatives to contribute to shaping public policy and contribute to ensuring that best practices in crypto and blockchain are followed.

    How will it benefit VYGVF?

    Voyager (VYGVF) participates as a member of the Blockchain Association in working groups that address crucial issues for the Company and the crypto industry as a whole, such as securities, litigation, regulation, decentralized financial functions, custody, staking, diversity, and privacy.

    VYGVF will also be able to contribute to legislation, comment letters, and other documents with a view to strengthening policy processes. As part of the Blockchain Association, Voyager has joined AAVE, Circle, Grayscale, and Fireblocks as pioneers in the technology industry.

  • Why Did The Cresco (CRLBF) Stock Rise By 7% In Last Trading?

    Why Did The Cresco (CRLBF) Stock Rise By 7% In Last Trading?

    Shares of vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, Cresco Labs Inc (OTCQX-CRLBF) gained significantly as it hit $11.930 at previous close, an increase of 5.67%. Compared to its monthly performance of -2.93%, Cresco Labs stock has performed 7.96% over the last week. After its quarterly results were released, CRLBF stock rose.

    How much did CRLBF make for the quarter?

    One of the largest vertically integrated cannabis companies in the country, Cresco Labs aims to normalize and professionalize the cannabis industry. Operating on a consumer-packaged-goods (“CPG”) model of business, CRLBF is the largest wholesaler of branded cannabis products in the United States. The CRLBF family of brands is comprised of some of the most trusted and recognized brands in the marketplace including Cresco, Mindy’s Edibles, Remedi, FloraCal Farms, High Supply, Good News, and Wonder Wellness Co.

    Cresco Labs announced its financial results for its first quarter ended March 31, 2021, after the market closed yesterday.

    • CRLBF posted a quarter-over-quarter increase of 9.9% as well as a year-over-year increase of 168.8% for revenue of $178.4 million.
    • Gross profit for CRLBF was $87.0 million, or 48.8% of revenue, an increase of 16.8% quarter-over-quarter and 268.9% year-over-year.
    • For the reported quarter, CRLBF saw an increased EBITDA1 by $35.0 million that came 16.5% higher quarter-over-quarter and 507.2% year-over-year.
    • Net wholesale revenue recorded by CRLBF grew 5.7% quarter-over-quarter and 150.8% year-over-year.
    • Retail revenue of CRLBF was $82.8 million from 24 stores grew 15.2% quarter-over-quarter and 193.2% year-over-year.

    How did CRLBF do?

    Cresco Labs (CRLBF) delivered sequential growth in Q1 from existing assets and was able to achieve #1 market share positions in two of this industry’s top five states. CRLBF is on track to repeat that success in more markets in 2021. In subsequent quarters, CRLBF will benefit from a variety of initiatives including organic expansions and M&A that are driving growth.

  • What Kept The Vestas (VWSYF) Stock Stable Last Session?

    What Kept The Vestas (VWSYF) Stock Stable Last Session?

    The value of Vestas Wind Systems A/S (OTCPink: VWSYF) slipped slightly lower at the close yesterday, falling by -0.38% to $38.602. The Vestas stock had a volume of 4.63K shares, compared to its weekly average of 15.94K shares. In absence of any news, VWSYF stock was relatively stable, so recent developments could help us get a more comprehensive insight into VWSYF.

    How have things been lately at Vestas?

    Vestas designs, builds, installs, and services wind turbines around the world. In addition to its Power Solutions segment, VWSYF operates in the Service segment as well. Vestas’ Power Solutions segment specializes in wind power plants, wind turbines, and development sites. A variety of services, spare parts, and related products and services are offered by the VWSYF’s Service segment.

    Last week, Vestas announced new technology that ensures wind turbine blades can be recycled fully, eliminating the need to dump old blades.

    • In 2050, turbine blade waste is expected to account for 43 million tonnes, according to a 2017 study by the University of Cambridge.
    • It is difficult to recycle blades, which lead to them ending up in landfills.
    • In a statement, VWSYF’s head of sustainability and advanced materials, Allan Poulsen, said the new technology is a significant step toward enabling a future where landfills are no longer necessary for blade decommissioning.
    • The blades of wind turbines are constructed by heating glass or carbon fibres with sticky epoxy resin, which combines the materials, providing a strong and lightweight composite material, but also makes it difficult to recycle the original materials.

    What is VWSYF trying to accomplish?

    The Chemical producer Olin, which produces resin for turbine blades; Danish Technological Institute, an independent research and technology institute; and Denmark’s Aarhus University are among the partners of Vestas (VWSYF) on the project. The VWSYF also anticipates using the technology for airplane and car components within three years through this project.

  • What Drove Aquesta (AQFH) Stock Up 63%?

    What Drove Aquesta (AQFH) Stock Up 63%?

    In the previous session, Aquesta Financial Holdings Inc (OTCPINK: AQFH) stock finished up 62.93% to $ 21.10. Aquesta stock traded between $20.50 and $21.35 during the session, while 508.95K shares traded. A merger deal news led to a rise in AQFH stock.

    Who placed the bid?

    Aquesta is the holding company for Aquesta Bank. North Carolina’s Aquesta Bank has branches in Cornelius, Davidson, Huntersville, Mooresville, Charlotte, and Wilmington, offering full-service banking to all customers. Aquesta Bank also has loan production offices in Raleigh, North Carolina, as well as Charleston and Greenville, South Carolina.

    The track record of superior growth and profitability of Aquesta Bank owes much to its focus on its core values of passion, vision, care, empowerment, and togetherness. These values are used by Aquesta to help its clients, communities and team members succeed.

    Yesterday, United Community Banks, Inc. and Aquesta announced a definitive agreement for United Community Banks to acquire the AQFH including wholly-owned subsidiary of Aquesta.

    • AQFH headquarters are located in Cornelius, North Carolina, a fast-growing suburb of Charlotte, North Carolina, located on Lake Norman.
    • Aquesta Bank founder Jim Engel, who founded AQFH in 2006, leads an experienced management team with a premier franchise.
    • Aquesta reported total assets of $752 million and total loans of $576 million as of March 31, 2021.
    • Additionally, the bank’s deposit base consists of non-CD core deposits totaling $586 million, or 92%.

    How the transaction will be completed?

    • In addition to the $131 million transaction value, approximately $12 million represented the value of outstanding options and warrants to acquire Aquesta common stock.
    • A portion of the consideration paid by United for AQFH stock is available for stockholders to elect to receive in cash, subject to a cap of 30% of the entire consideration paid by United for AQFH stock.
    • Accordingly, United’s common stock is exchanged for each share of AQFH’s common stock with an exchange ratio of 0.6386 shares of United common stock.
    • Regulatory approval, as well as approval by Aquesta’s stockholders, will all need to be obtained prior to the transfer being completed in the fourth quarter of 2021.
  • What Led The Argo (ARBKF) Stock To Increase 13%?

    What Led The Argo (ARBKF) Stock To Increase 13%?

    As of Wednesday, Argo Blockchain plc (OTCQX: ARBKF) closed at $2.07, up 13.74 percent. Argo stock has been trading in a range of $1.94 to $2.09 on the day. Within the last 12 months, ARBKF stock has advanced 1139.52% with a market cap of $657.54M. Because the ARBKF stock rose in the absence of current news, we can then examine recent developments to gain a deeper understanding of ARBKF.

    ARBKF, how have things been?

    One of the world’s largest and most efficient cryptocurrency mining operations is that of Agro Blockchain plc, which uses clean energy to mine cryptocurrency. ARBKF and its subsidiary, Argo Blockchain Canada Holdings Inc., are engaged in the mining of crypto assets internationally. As a London-based company, ARBKF used to be referred to as GoSun Blockchain Limited and became Argo Blockchain plc as of December 2017.

    In an effort to decarbonize the cryptocurrency industry, Argo and DMG Blockchain Solutions Inc. recently partnered with the Crypto Climate Accord (CCA).

    A new working group, formed by Argo and DMG, is developing frameworks for clarifying the CCA’s objectives and promoting a better understanding of the renewable energy sourcing used for crypto mining. As part of their commitment to environmental stewardship, Argo and DMG aligned their goals and objectives with those of the CCA.

    What impact will this have?

    As a result of the CCA’s partnership with Argo (ARBKF), DMG, and 40 organizations, including many cryptocurrency organizations, the CCA will achieve its stated objectives through promoting renewable energy solutions. In an open invitation to stakeholders and subject matter experts, the CCA asks them to join the working group and to help with its implementation.

  • Is This Why The Vectura (VEGPF) Stock Rose Nearly 60% Last Trading?

    Is This Why The Vectura (VEGPF) Stock Rose Nearly 60% Last Trading?

    Vectura Group plc (OTCPK: VEGPF) closed at $2.285 on Wednesday, up 59.79 percent. The price of Vectura stock has been at $2.285 throughout the day. In the wake of a multibillion-dollar takeover deal, VEGPF stock rose.

    How did the bid come about?

    Vectura is a provider of innovative inhaled drug delivery solutions that allow partners to reach more patients with their medications. VEGPF has a unique proprietary technology platform combined with pharmaceutical development expertise, making it one of the few companies globally that can deliver an extensive range of complex inhaled therapies.

    Carlyle Group Inc. agreed yesterday to purchase Vectura for 958 million pounds ($1.4 billion), a cash transaction that will boost the British drugmaker’s transformation efforts.

    • Carlyle announced a cash distribution of 136 pence per Vectura share, along with a 19-pence cash dividend, in a statement.
    • Compared to Vectura’s closing price on Tuesday, the offer represents a 27% premium.
    • In Wednesday’s trading, Vectura stock surged 31% in London.
    • As it looks to become an inhaled therapy provider for others, Carlyle hopes to help VEGPF expand.
    • In addition to Covid-19 medicine, VEGPF is working on other projects.
    • The board of directors of the Wiltshire, England-based company approved the purchase of VEGPF.
    • Carlyle predicts the Vectura deal will close in the third quarter if the necessary clearances are obtained.
    • In a separate statement, VEGPF said it expected to more than triple its revenues from a contract, development, and manufacturing this year.

    Carlyle got into the bidding as Vectura (VEGPF) develops inhaled medicines in partnership with Bayer AG and Novartis AG. As the only provider of complex inhaled therapies in the world, Vectura offers a wide range of products and is a leading device, formulation, and development company.

  • On What Basis Did Allegiant (AUXFF) Stock Rise 37%?

    On What Basis Did Allegiant (AUXFF) Stock Rise 37%?

    The price of Allegiant Gold Ltd (OTCQX: AUXXF) increased by 36.82 percent on Wednesday to $0.3010. Allegiant stock surged over 33.6% in the last month, with over 104.9K of its shares traded on average. On a three-month performance basis, AUXXF stock has gained over 44.57% and the average volume has been 71.20K. AUXXF stock rose on the discovery of silver and gold grades.

    Where has the discovery been made?

    A subset of Allegiant’s holdings consists of 10 high-prospective gold projects across the United States, seven of which are in mining-friendly Nevada. AUXXF has outsourced four of its projects which enables it to reduce costs and generate cash. In addition to an expanding gold resource, AUXXF also has an excellent infrastructure. Eastside project is the AUXXF’s flagship project where metallurgical tests indicate that both oxide and sulphide gold concentrations can be heap leached.

    Allegiant announced yesterday it had discovered bonanza grades in its best drilling results so far in the Original Pit Zone. In Nevada, the zone is on AUXFF’s 100% owned Eastside gold project. Inferred resources of 996 000 ounces of gold and 7.8 million ounces of silver have been estimated for Eastside using current NI 43-101 pit constraints.

    Further at Original Pit Zone:

    Allegiant (AUXXF)’s Original Pit Zone hosts gold and silver mostly in young rhyolite domes and dikes cut by andesite flows and lahar, lacustrine tuffs, and rhyodacite flows and plugs. Eighty-five percent of AUXXF’s gold intercepts are within rhyolite rocks. This process involves altering multiple generations of quartz in stockworks, replacing illite, affiliating adularia, and filling fractures mostly with iron oxides.

  • How Did The Petroteq (PQEFF) Stock Skyrocket In The Last Session, Jumping 85%?

    How Did The Petroteq (PQEFF) Stock Skyrocket In The Last Session, Jumping 85%?

    Petroteq Energy Inc (OTCPINK: PQEFF) closed last session at $0.1200 after experiencing an increase of 84.62% that raised its market capitalization to $55.79M. Recent trades of Petroteq stock reached 39.70M shares, which is higher than its average daily volume of 1.75M shares. PQEFF stock rose after a share purchase offer was confirmed in Germany.

    How did the shares get offered?

    Petroteq develops and implements new proprietary oil extraction technologies and environmental restoration technologies. In addition to oil sands and oil shale deposits, PQEFF has developed a technology to recover and utilize heavy oil and bitumen from deep oil deposits. The PQEFF is working on developing and implementing its patented techniques for processing and extracting heavy oils.

    Petroteq announced this week that several European shareholders emailed PQEFF on May 19, 2021, advising the company that they had received what appeared to be an offer to buy Petroteq’s shares.

    • PQEFF was notified of this offer but was also told to consult Bundesanzeiger, an official publication of the German Federal Ministry of Justice and Consumer Protection.
    • A search for the word “Petroteq” using the link yields two results.
    • If one selects “Uppgard Consult AB Krylbo”, then the purported offer is available in German.
    • According to the notice, investors in jurisdictions where the offer violates the law are not eligible for the offer.

     What PQEFF found out?

    The management of Petroteq (PQEFF) requested additional information about the proposed offer to its board of directors after reviewing all information available. The board of directors directed management to contact Uppgard Konsult AB, Sweden, the party identified in the Bundesanzeiger.

    As a result, Uppgard Konsult AB stated that they are acting for an unidentified third party and provided limited responses to PQEFF’s inquiries. It was indicated by Uppgard Konsult AB that they had a mandate from the offeror to complete the involved purchases. Uppgard Konsult AB did not disclose who the offeror is but indicated that the offeror intended to issue a press release in due course.