107-year-old temperature record among dozens broken across Canada
Canadians are experiencing a wave of warm weather across multiple provinces well into the fall season, shattering dozens of temperature records.
Shares of Republican candidate Donald Trump's company that owns the Truth Social slumped 14 per cent in busy trading on Wednesday as betting odds of a win for Democratic candidate Kamala Harris grew after a combative U.S. presidential debate.
Harris put Trump on the defensive with a stream of attacks on his fitness for office, his support of abortion restrictions and his myriad legal woes, prompting a visibly angry Trump to deliver a series of falsehood-filled retorts.
Trump has a more than 50 per cent stake in Trump Media & Technology Group, which has a market value of US$3.7 billion. Its shares are popular among retail traders and sensitive to the former president's chances of a win in the 2024 election.
The stock has slumped nearly 60 per cent since mid-July as Harris' chances improved against Trump after she replaced President Joe Biden as the Democratic candidate.
After the debate, pricing for a Trump victory slipped by 6 cents to 47 cents with a potential $1 payout on online betting site PredictIt, while Harris' odds rose to 57 cents from 53 cents.
"At this point, DJT is the betting stock for Trump winning," said Matthew Tuttle, CEO of Tuttle Capital Management.
Harris' candidacy also received a boost after pop megastar Taylor Swift told her 280 million Instagram followers in a post that she will vote for the Democratic candidate.
"The U.S. Presidential debate achieved its goal by providing a decisive edge to one of the candidates in what has been an exceptionally close race," said Charu Chanana, global market strategist at investment platform Saxo.
Trump Media's valuation equals more than 900 times the money-losing company's revenue of US$4.1 million in 2023, far exceeding the worth of companies with bigger revenue.
For instance, Meta Platforms, which generated US$131.9 billion from goods and services in 2023, has a price-to-revenue valuation of 9.6, according to LSEG data.
About 5.8 million shares exchanged hands within minutes of the market open, nearly the same as its 25-day moving average volume.
Since its listing through a reverse merger with a blank check firm in March, TMTG's market value has jumped as much as US$9.2 billion as expectations of Trump victory rose. The stock has slumped 76 per cent from its March peak.
An upcoming shareholder lock-up expiry could allow Trump and other investors to offload some shares as early as next week, potentially increasing the supply of shares and adding more pressure on the stock.
If the stock price remains at or above US$12 for any 20 trading days from Aug. 22, then Trump will be free to sell shares beginning Sept. 20. Otherwise, the six-month lock-up expires on Sept. 25. The stock was last trading at US$16.09.
"If he wins (the election) he doesn't have to sell his shares and DJT can grow into something. If he loses, he has to sell his shares to pay legal bills and it is unlikely DJT is a going concern," Tuttle said.
(Reporting by Medha Singh in Bengaluru; Editing by Saumyadeb Chakrabarty and Leroy Leo)
Canadians are experiencing a wave of warm weather across multiple provinces well into the fall season, shattering dozens of temperature records.
Health Canada has announced a recall for electric space heaters over potential fire and burn risks, a notice published Thursday reads.
An elementary school in the Halifax area has backed away from a request that service members not wear uniforms to the school's Remembrance Day ceremony.
Canada added lower-than-expected 14,500 jobs in October and wages of permanent employees rose, data showed on Friday, as the economy grappled to absorb the slack built up due to a rapidly rising population amid an overheated market.
Average asking rents declined nationally on a year-over-year basis for the first time in more than three years in October, said a report out Thursday.
Supporters say the so-called Jordan ruling has sped up proceedings and strengthened Charter rights for prompt justice. But the legacy of Jordan is mixed, and some victims say the time limits work in criminals' favour.
Walmart says a large bakery oven will be removed from the Halifax store where an employee died last month.
Prince William has described the past year as "brutal" following cancer diagnoses for his wife and father. "Honestly, it's been dreadful," he said.
Three people have been charged in relation to One Direction singer Liam Payne's death in a fall from his Buenos Aires hotel balcony last month, Argentine authorities said on Thursday.
A young family from Codroy Valley, N.L., is happy to be on land and resting with their newborn daughter, Miley, after an overwhelming, yet exciting experience at sea.
As Connor Nijsse prepared to remove some old drywall during his garage renovation, he feared the worst.
A group of women in Chester, N.S., has been busy on the weekends making quilts – not for themselves, but for those in need.
A Vancouver artist whose streetside singing led to a chance encounter with one of the world's biggest musicians is encouraging aspiring performers to try their hand at busking.
Ten-thousand hand-knit poppies were taken from the Sanctuary Arts Centre and displayed on the fence surrounding the Dartmouth Cenotaph on Monday.
A Vancouver man is saying goodbye to his nine-to-five and embarking on a road trip from the Canadian Arctic to Antarctica.
A Windsor teen’s social media post showing off a distinctive Windsor pizza topping has gone viral, drawing millions of views worldwide and sparking new curiosity about Windsor-style pizza.
Auston Matthews has come face to face with his look-alike. On Thursday, the Maple Leafs star met seven-year-old Grayson Joseph, who went viral for dressing up as an Auston Matthews hockey card.
A Halifax junk remover shares some of his company’s strangest discoveries.