Canadian AI Stock Surges on Financial Results

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GoldSpot Discoveries Corp. (TSXV:SPOT), a Canadian AI stock, jumped after announcing a 135% rise in its consulting revenue

Sean Mason | August 31, 2020 | SmallCapPower

A big revenue increase powered a Canadian AI stock sharply higher Monday. Here’s some small stocks making big moves on Monday, August 31, 2020 (as of 4 pm EST):

GoldSpot Discoveries Corp. (TSXV:SPOT), a Canadian AI stock involved in mineral exploration, climbed 32% to $0.185 on Monday after announcing that it swung to a second-quarter profit of $2,840,204 from a loss of $74,013 during the same period last year, while its consulting revenue increased 135% to $937,202.

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As well, shares of Acasti Pharma Inc. (TSXV:ACST) plunged 66% to $0.315 as the biopharmaceutical company said top-line results for the Primary Endpoint (triglyceride reduction at 12 and 26 weeks) from its Phase 3 TRILOGY 2 study evaluating the efficacy, safety and tolerability of CaPre in patients with severe hypertriglyceridemia did not meet its primary endpoint.

Obsidian Energy Ltd. (TSX:OBE), meanwhile, reported that it is proposing a merger with Bonterra Energy Corp. (TSX:BNE). Obsidian Energy stock popped 9% to $0.58 following the announcement.

Finally, Lion One Metals Limited (TSXV:LIO) shares gained 8% to $1.96 after the gold explorer announced that it has encountered what it called “high-grade gold mineralization” in a diamond wedge hole, drilled to a depth of 709.0 metres at its Tuvatu Alkaline Gold Project in Fiji.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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