Market Highlights

  • Stimulus: In a classic will they or won’t they, US stocks are up as investors become more hopeful that Congress will pass a sweeping stimulus prior to the election.
  • Jobs: A survey by Statistics Canada predicts that travel restrictions within and outside of Canada could hold back our economic recovery and cost upwards of a million jobs.
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Peak Picks

CBD: Toronto-based Mary Agrotechnologies is the latest recipient of a rare and hard to get license to grow hemp-derived CBD in China.

History of Internet Porn: A fun piece in Wired chronicling the history of internet porn and how the industry pioneered early internet marketing.

Groovy, Baby: Toronto psychedelics company Field Trip just expanded to New York and Inside Hook gives you a look at what to expect in their newest clinic.
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Leftovers

White House Infection: A number of Vice President Mike Pence’s staff were confirmed to have been infected with COVID-19. The Vice President tested negative and continues to campaign.

COVID-19: Quebec is officially the first province in Canada to reach 100,000 total COVID-19 cases as the infection continues to surge across the country.

Murder Hornets: The first murder hornet nest in North America was found in Washington State, just South of the BC border.
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Sky High Relief

The Federal Government’s airline bailout package is nearly ready for takeoff. Last week, The Globe reported that Federal Cabinet is deliberating a targeted bailout package for domestic air carriers. 
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Horgan Wins Big

John Horgan’s bet paid off. In late September, the BC premier made a gamble that support for his government would trump anger over calling an unnecessary election during a global pandemic. He was right.
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Snapchat Snaps Back

Remember Snapchat... That app you deleted off your phone a few years ago because all your friends stopped using it?

Well, joke’s on you because Snapchat’s back and they’re back in a big way!

Last week, the company announced killer earnings for Q3, sending the share price soaring from $28 USD to $34 at closing.
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Big Oil Gets Bigger

Last week, Cenovus Energy and Husky Energy – two Canadian energy giants – announced they were teaming up to form one of the largest oil and natural gas producers in the country.
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Friday Q&A with Marius Adomnica, esports, tech and video game attorney

Every Friday we feature someone in the Canadia tech, finance, or startup space doing something cool and pick their brain to get practical and actionable tips and advice for the rest of us. 
 
This week we are featuring Marius Adomnica, an esports, tech, and video games lawyer at Segev LLP to get his take on these emerging industries.
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PayPal, Now Accepting Bitcoin

PayPal will now let you buy, sell, and store Bitcoin in your online wallet. 
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Tesla on Autopilot

Defying global economic headwinds, Tesla reported a 5th straight profitable quarter.

Key numbers:

  • Tesla posted a net profit of $331M in Q3.
  • Revenue grew to $8.77 billion, a 39% increase from last year.
  • The company revived a pre-pandemic goal of making at least 500,000 vehicles this year.
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