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Weekly Cache

Weekly Investment News and Analysis

Please see what we’ve been reading in technology and ESG related investing this week. Please feel free to send us what you’ve found interesting.

Latest Invesment News

July 03, 2022: A Brutal First Half Of 2022

H1 2022 was a brutal start to the year — the Nasdaq was down almost 30%, for its worst first half on record, the Dow Jones Industrial Average declined 15%, for its worst first-half performance since 1962, and the S&P 500 closed down over 20%, for its worst first half since 1970. US markets climbed a bit on Friday, but the major indices were still down for last week, after having posted weekly losses in four out of the last five weeks. At a time when U.S. venture dollars are slowing down, CIBC Innovation Banking is announcing $1.5 billion in growth capital commitments, dubbed “Unicorn Fuel,” to focus on later-stage companies across software, life sciences, healthcare and clean tech industries. Sophic Client UGE (UGE-TSXV, UGEIF-OTC) secured $25 million to deploy six community solar projects in Maine. Sophic Client Clear Blue Technologies (CBLU-TSXV, CBUTF-OTC, 0YA-FRA) announced a $4-million non-dilutive Government of Canada financing. Draftkings was fined $100,000 in Ontario for advertising violations. EToro seems likely to abandon its deal to go public via SPAC merger. Short video app Triller confidentially filed for a U.S. IPO. Klarna will raise cash at a US$6.5 billion valuation, in dramatic 85% down round. Nio shares slid Wednesday after a short seller accused the Chinese electric vehicle maker of artificially inflating its financial figures. Chinese electric vehicle maker Li Auto will raise US$2 billion from U.S. investors in a new stock offering. Tesla lays off nearly 200 Autopilot workers, and shutters its San Mateo office. Facebook warns of engineer job cuts, and a sharp downturn ahead. The FCC Commissioner writes to Apple and Google about removing TikTok. FTX says it is not in active talks to buy Robinhood. Crypto hedge fund Three Arrows Capital plunges into liquidation. Crypto broker Voyager Digital (VOYG-TSX) suspends withdrawals.

Invesment News in the Past Weeks

August 23, 2020

August 23, 2020

While the Tik-Tok drama continues to unfold, high profile companies including SpaceX, Robinhood, Airbnb, Ant Financial, Palantir move ahead to either raise capital or go public. Palantir also plans to move its headquarters from the Bay Area to Denver, which could aid the trend of tech companies being more widely located, which we believe is a tailwind for the Canadian tech ecosystem. For example, Odyssey Interactive’s founders previously worked in the United States but opted to establish the company in Canada, because of the strong startup ecosystem in Canada.

August 16, 2020

August 16, 2020

Epic Games and Facebook appear to be pushing back against app store policies, which could have far reaching implications. Several high profile companies are expected to go public this fall & Robinhood is garnering lots of attention (including, gracing the cover of this week’s Barrons).

August 9, 2020

August 9, 2020

Lots of attention seems to be focused on US-China tensions and ramifications for the global technology industry, with Twitter and TikTok apparently in discussions as of Saturday. It will be interesing to see what the next week brings on this front.

August 2, 2020

August 2, 2020

Please see what we’ve been reading in technology and ESG related investing this week. Please feel free to send us what you’ve found interesting.

July 26, 2020

July 26, 2020

Welcome to our inaugural edition of what we’ve been reading in technology & ESG related investing this week. You are receiving this email, because you’ve previously worked with Sophic Capital or we’ve discussed tech or ESG investing.