Oracle Corp. (STAR)
Sorry, Elon Musk. Your days as the world’s richest human may be numbered. Thanks to a 40-per-cent surge in Oracle’s share price after the software and cloud services company posted blowout results, chairman Larry Ellison saw his net worth climb to US$393-billion on Wednesday, briefly topping Mr. Musk, with a paltry US$385-billion. Don’t worry, Elon. Even if you lose your title as the world’s richest man, you could still be the richest man on Mars. That would probably be the best thing for everyone.
Teck Resources Ltd. (STAR)
Multiple-choice quiz! Shares of Teck Resources rose after the miner: a) launched a new cryptocurrency backed by copper reserves in Peru; b) opened a pop-up zinc mine in lower Manhattan; c) agreed to be acquired by British mining giant Anglo American PLC in an all-stock transaction worth about US$20-billion, which would create one of the world’s top-five copper producers. Answer: c.
Groupe Dynamite Inc. (STAR)
True to its name, Groupe Dynamite is delivering some explosive growth. Shares of the Montreal-based women’s fashion retailer – which operates about 300 Dynamite and Garage stores in Canada and the United States – hit a record high after same-store sales leaped 38.6 per cent in the quarter ended Aug. 2, boosted by higher traffic and what the company called “strong brand heat.” Watch your fingers, kids: with Groupe Dynamite’s stock trading at more than twice its IPO price of $21 last November, you don’t want to get burned.
QMMM Holdings Ltd. (STAR)
And the award for the most transparent attempt to cash in on AI and crypto mania goes to … QMMM Holdings. Shares of the Hong Kong-based company soared as much as 2,300 per cent on Tuesday after the digital advertising firm said it planned to allocate US$100-million to cryptocurrencies, emulating the “bitcoin treasury” concept pioneered by Michael Saylor’s Strategy Inc. “Our cryptocurrency initiatives, combined with our expertise in AI and digital platforms, are designed to create sustainable value for our stakeholders while reinforcing our role as a forward-looking technology company,” QMMM said. That all the buzzwords you got?
S&P/TSX Composite Index (STAR)
There once was a stock index called TSX
Which used to be panned for its lack of success
But the past year’s ascent
Of 25 per cent
Has folks swimming in money right up to their necks