A&W Revenue Royalties Income Fund (STAR)
AW.UN - TSX
That guy handing out free burgers in the A&W commercials? He could afford to throw in some free fries and a root beer, too. Shares of A&W Revenue Royalties Income Fund surged on its proposed merger with privately-held affiliate A&W Food Services of Canada Inc., which will create a new publicly traded fast-food chain. Combining the fund, which earns a royalty on A&W’s sales, with the restaurant operating company provides “significant value creation potential,” the companies said. With investors getting the option to swap each royalty unit for a share in the new company or $37 in cash (subject to proration), the market is suddenly salivating for A&W’s formerly soggy units.
Tesla Inc. (DOG)
TSLA - Nasdaq
Business quiz! Shares of Tesla Inc. skidded more than 12 per cent on Wednesday – their biggest drop since 2020 – after: a) chief executive Elon Musk said he plans to sell up to US$100-million of Tesla shares and donate an equivalent dollar value of Big Macs and Quarter Pounders to Donald Trump’s 2024 election campaign; b) citing delays with its driverless robotaxi program, Tesla said it’s “going all-in” on self-driving kids’ tricycles; c) Tesla’s automotive revenues slumped 7 per cent in the second quarter as adjusted earnings of 52 US cents a share missed analysts’ estimates, hurt by vehicle discounting and incentives. Answer: c.
Sleep Country Canada Holdings Inc. (STAR)
ZZZ - TSX
For years, Sleep Country Canada Holdings Inc. investors have been trapped in a nightmare of falling same-store sales, rising interest rates and sluggish consumer spending. But this week, shareholders awoke to some cheerful news: Shares of the retailer jumped after it agreed to be acquired by Fairfax Financial Holdings Ltd. for $35 in cash per share, or about $1.7-billion, including debt. “We have concluded that this transaction is in the best interests of Sleep Country,” said Christine Magee, co-founder and chair of the special committee of independent directors that oversaw the deal negotiations. Sweet dreams, Christine.
Lamb Weston Holdings Inc. (DOG)
LW - NYSE
You might say investors were dropping this stock like a hot potato. Shares of Lamb Weston Holdings Inc. suffered their biggest decline on record after the supplier of frozen French fries, hash browns and sweet potatoes said fiscal fourth-quarter sales and earnings dropped, missing analysts’ expectations. “Market share losses and a slowdown in restaurant traffic in the U.S. and many of our key international markets were greater than we expected,” said CEO Tom Werner, adding that results were also hurt by a voluntary product recall. Talk about a root awakening.
GraniteShares 2x Long NVDA Daily ETF (DOG)
NVDL - Nasdaq
Did you miss out on the huge run in Nvidia Corp. stock? Suffering from FOMO? Don’t get mad. Get even! Thanks to the GraniteShares 2x Long NVDA Daily ETF, you can make up for lost time by earning double the daily return of Nvidia’s share price. That’s twice as much money, and twice as much fun! Small caveat: Try not to buy this leveraged ETF right before Nvidia’s stock tumbles, as the entire tech sector has done over the past few weeks, or you’ll be suffering twice as much misery!