Canadian AI Stock Surges on Financial Results

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.

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

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