Canadian Blockchain Stock Soars on Financial Results

Bitfarms Ltd. (TSXV:BITF), a Canadian blockchain stock, climbed after announcing a 42% increase in Q3 revenue

Sean Mason | November 27, 2019 | SmallCapPower

Rising revenue and profitability powered a Canadian blockchain stock sharply higher Wednesday. Here’s some small stocks making big moves on Wednesday, November 27, 2019 (as of 4 pm EST):

Bitfarms Ltd. (TSXV:BITF), a Canadian blockchain stock, surged 11% to $0.63 on Wednesday after announcing that its third-quarter revenue jumped 42% to US$9.7 million, while swinging to a quarterly profit of US$4.3 million from a net loss of US$1.7 million during the same period last year.

Win Big With Our Small Cap Picks

 

As well, shares of Troilus Gold Corp. (TSX:TLG) slipped 8% to $0.60 as the junior explorer said it has started a new 2,500 metre drill program at its 100%-owned Troilus property in Quebec.

Hudson’s Bay Company (TSX:HBC), meanwhile, reported that it has received a takeover offer from The Catalyst Capital Group Inc. at a price of $11.00 per share in cash. Hudson’s Bay Company stock popped 11% to $9.83 following the announcement.

Finally, VersaPay Corporation (TSXV:VPY) shares rose 10% to $1.60 after the cloud-based invoice presentment and payment provider announced that its third-quarter revenue increased 90% year-over-year to $2.23 million.

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

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

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

To read our full disclosure, please click on the button below: