What happened in the stock market

For this weekly news, we will mention AMC, banks raising fees, Trudeau fighting the housing market, the crypto market.

All the Canadian markets were up this week:

  • CSE with a loss of 0,6%;
  •  TSXV with a gain of  0,5%
  • TSX with a  gain of 0,6%

AMC Entertainment launched its second share issue in three days on Thursday, while warning investors that after a week of stellar gains they risked losing their shirts if they backed the company at current prices.

AMC’s stock, initially up more than 14 per cent, fell back to stand roughly flat after the company announced it had agreed to sell up to 11.55 million of its shares from time to time at its discretion in an at-the-market offering program.

AMC’s share price nearly doubled on Wednesday, a day after it issued 8.5 million shares to Mudrick Capital, which the hedge fund flipped at a profit.


Some big-bank customers have been getting letters in the mail announcing a range of fee hikes on their chequing accounts.

TD, for example, has increased the transaction fee on its TD Canada Trust Preferred Chequing account from $1.25 to $1.95 and raising the minimum monthly balance for waiving those free from $2,000 to $5,000. CIBC is upping monthly account fees on its CIBC Smart Account, CIBC Everyday Chequing Account and CIBC EverydayPlus Account starting July 1.

BMO, meanwhile, has raised the monthly account fees on a number of its everyday banking products effective May 1. And Scotiabank announced fee increases on several of its bank accounts as of March 1.

weekly news 06/24/21 to 06/28/21

Prime Minister Justin Trudeau is promising municipal leaders federal backing and resources toward efforts to address the high cost of housing that he says is creating a crisis for young and middle-class families.

The cost of housing has risen across the country driven by a mix of low interest rates and demand outstripping supply as Canadians working from home look for more space.

He notes the federal government alone can’t cool housing costs, saying the levers exist at all levels of government.

Trudeau says the Liberals will reach out to provinces and territories to find solutions to ease concerns around housing affordability.

Frankfurt, Hesse, Germany - April 17, 2018: Many coins of various cryptocurrencies

The Crypto Market seems to be preparing a new bull rain. After the big sell-off lead by China’ sanctions toward the crypto mining companies, and governments banning or warning sanctions against crypto holders, the Bitcoin flirted with the $34k USD for its lowest price and now goes up slow and steady. After a consolidation around $36k USD, the mot famous cryptocurrency tries to push higher and is now hovering around $39k USD.

The Puell Multiple is one of the best-known BTC price tools. Its readings judge the likelihood of a sell-off or uptick based on miner profitability. Currently, it makes little sense for miners to sell unless out of sheer necessity.

“The metric is now trading at the 1.40 level, closer towards the green zone, where miners have a lesser incentive to sell. This signifies potential buying opportunities should the multiple declines to below 1.0,” Stack head of research Lennard Neo explained.

Top picks of the week

Organic Garage Ltd.

QYOU Media Inc.

BriaCell Therapeutics Corp.

Naturally Splendid Enterprises Ltd.

GlobeX Data

Know more about the Top Picks

They did their IPO this week

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