The stock market has moved like a pendulum this week, swinging high up and down, causing palpitations for many investors.
The S&P/TSX Composite index made huge gains early in the week, raising hopes that it was about the reverse the losses of the past month. The index gained 436.8 points on Monday and 489.8 on Tuesday.
However, as the business week was drawing to a close, the index began to shed its gain with the same speed it acquired it. On Thursday, the index ended at 18,979.9, losing 256.1 points. For most parts of Friday, the index was losing about 400 points, indicating that it may return to about the same point where it was at the beginning of the week.
When this week’s performance of the stock market is added to the performance of the previous three weeks, it will be apparent that the month has not made investors happy. The index has lost about 6.00 per cent in the past month.
Perhaps that is why our investor community does not seem to focus on any particular sector this week. Members of that community showed interest in stories from diverse sectors: technology, energy, industrial, metals, and health care. Below are the top stories that attracted the attention of our readers most this week.
Nextech AR Solutions’ (CSE:NTAR) (OTCQB:NEXCF) 3D model production jumps over 110% Q/Q
Nextech AR Solutions Corp. (NTAR) reports that its 3D model production has jumped over 110 per cent from Q2 2022 to Q3.
In Q3 alone, Nextech produced 5,667 3D models for e-commerce sites across a wide spectrum of products.
Nextech is ramping up production to meet the growing demand from the largest Prime eCommerce marketplace and is anticipated to create more than 2,800 models in the month of October alone. This would represent approximately 50 per cent of Q3 production and set the stage for a substantial increase in 3D model production in Q4 2022.
Nextech AR CEO Evan Gappelberg sat down with Daniella Atkinson to discuss the news.
Nextech AR Solutions Corp. was down 7.50 per cent within the week, trading at C$0.74 at 2:45 p.m. ET.
Infinity Stone (CSE:GEMS) closes $2.1M private placements and announces intention to dual list on ASX
Infinity Stone Ventures Corp. (GEMS) has closed two private placements for gross proceeds of $2,100,000.
The company issued 6,400,000 units at a price of $0.25 per unit. Each unit is made up of one Class A Subordinate Voting Share and one-half of one share purchase warrant.
CEO Zayn Kalyan sat down with Daniella Atkinson to discuss the news.
The net proceeds from the offering will be used for exploration expenses and general working capital.
The company believes the ASX listing will position the company better in the Australian market, which has many well-established lithium companies listed on the ASX with hard rock lithium projects in Canada.
Infinity Stone Ventures Corp. was down 4.08 per cent in the past five days, trading at C$0.24 at 1:12 p.m. ET.
Vertex Resource Group (TSXV:VTX) acquires Young EnergyServe Inc.
Vertex Resource Group (VTX) has acquired Young EnergyServe Inc.
The acquisition was completed for a purchase price of $13.8 million, including 5.45 million common shares.
Young EnergyServe Inc. is a privately held company providing turnkey turnaround solutions, cutting-edge robotic tank cleaning services, and various other industrial services.
Terry Stephenson, President & CEO of Vertex Resource Group, sat down with Sabrina Cuthbert to discuss the news.
Vertex Resource Group Ltd. was down 1.43 per cent within the week, trading at C$0.34 at 1:15 p.m. ET.
Green River Gold (CSE:CCR) details new intercepts and deeper drilling program
Green River Gold (CCR) has discovered more nickel and chromium at its Quesnel Nickel Project.
Discoveries occurred in Zone 2 as well as two new locations at the B.C. project.
The company encountered nickel and chromium in seven additional backpack drill holes in Zone 2 (FCD-22-11 to FCD-22-17), which consists of a bedrock outcrop covering over 1.2 sq. km along the Deep Purple magnetic anomaly.
Green River began a new drilling program on October 1st. It plans to drill 10 holes on Zone 2 using a Winkie drill capable of reaching depths of 100 m. It will also drill deeper into two holes initiated on Zone 1 last Spring on top of adding an additional hole.
CEO Perry Little spoke with Daniella Atkinson about the new intercepts and exploration plans moving forward.
Green River Gold Corp. was down 12.50 per cent within the week, trading at C$0.070 at 3:03 p.m. ET.
Join us next week for another review of market movers.
