Shares of Postmedia rose after it struck a deal with Google while threats of a recession rattle RBC. Here are the past week's stock surges and setbacks.
after it struck a deal with Google. As part of the deal, Google will pay to host stories published by Postmedia-owned brands, including National Post and Financial Post. The deal gives Postmedia Network’s stock a much-needed lift after it posted a net loss ofLawmakers in the U.S. offered American and Canadian pot stocks a reprieve from the cannabis crash. U.S.
decriminalize marijuana at the federal level this week. As a result, shares of Toronto-based Vivo Cannabis — which have plunged by more than 37 per cent in the past year — appear to be making a small, yet noticeable comeback.The Rogers outage, which knocked out WiFi and cellular services and even forced The Weeknd to postpone his hometown concert in Toronto, appears to have reignited investor interest in companies like Telesat Corp.
Canadian bank stocks. Out of Canada’s big six banks, RBC posted the biggest loss last week. Shares of the country’s largest lender have dropped by 20 per cent since their January peak.Already battered by a sell-off in the tech sector, shares of Toronto-based software company Dye & Durham are continuing on their downward spiral. Australian data services firm Link Administration Holdings
for the second time in recent weeks. Dye & Durham, which has seen its shares fall by more than 56 per cent in the past month, said the acquisition would help grow its customer base in the U.K. and Australia.The past two weeks haven’t spared any players in Canada’s telecom industry. The Montreal-based telecom’s revenue rose to $728.1 million in the third quarter, up 16.6 per cent from the same period in 2021.
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