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RFK Jr targets GameStop investors

Independent presidential candidate Robert F. Kennedy Jr. wants to win over all the anti-establishment voters.

In a bid to demonstrate his support for retail investors whom he referred to as the “Ape retail rebellion,” in their battle against large institutional funds, Kennedy Jr. announced on Tuesday that he had invested $24,000 in the meme stock GameStop (NYSE: GME).

You can read more on the matter here.

What’s going on?

• Red Lobster’s Bankruptcy Filing Reveals Mismanagement and Financial Struggles (theDeepDive)

• India Gets Record $25 Billion RBI Payout as Voting Nears End (Bloomberg)

• Russian Banks Shutting Down Branches Amid Falling Profits (theDeepDive)

• Miner Anglo American rejects third takeover offer from rival BHP Group as talks deadline extended (CNBC)

• Ontario House Listings Up in Most Categories, Housing Starts Continue to Fall (theDeepDive)

• Foreign Purchase of U.S. Ammo Maker Sparks National-Security Battle (WSJ)

• DEA Pushes Back Against Cannabis Rescheduling (theDeepDive)

• Weekly mortgage refinance demand revives as interest rates fall to 7-week low (CNBC)

• Ireland, Spain, Norway announce recognition of Palestinian state, infuriating Israel (Globe)

• Are Russia and China Using Kazakhstan’s Uranium to Launder Money? (theDeepDive)

What’s the latest?

• Grocery Inflation: A new Leger survey reveals that nearly two-thirds of Canadians feel grocery inflation is worsening, despite a steady decline in food inflation, which was 1.4% in April. About 30% of Canadians attribute food inflation to grocery stores increasing profit margins, 26% to global economic factors, and 20% to the federal government.

• Extreme Turbulence: The Canada Pension Plan Investment Board reported a net return of 8.0% for the fiscal year ending March 31, driven by strong public equity markets, gains in private equity, and investments in credit, infrastructure, and energy. Net assets rose to $632.3 billion, up from $570.0 billion the previous year, including $46.4 billion in net income and $15.9 billion in net transfers from the Canada Pension Plan.

• Capital Gains Changes: The Liberal government will introduce its proposal to increase the inclusion rate on capital gains to the House of Commons before the summer break, Finance Minister Chrystia Freeland announced. The proposal, part of the April budget, will make two-thirds of capital gains taxable, up from the current one-half, starting June 25.

• CIBC Asset Sale: The Canadian Imperial Bank of Commerce has agreed to sell US$316 million of U.S. office loans at a discount to multiple buyers. These loans are backed by properties in cities such as San Francisco, Seattle, Phoenix, and Austin. This move comes as higher interest rates have significantly impacted commercial property valuations, with office prices dropping 16% over the past year.

• Boeing Investment: Boeing Co. has pledged $240 million toward a Montreal-area aerospace cluster, forming a significant part of a $415 million investment by private and provincial entities to establish an aero "innovation zone." This initiative aims to position Quebec as a global hub for drone and greener aircraft development. Boeing's commitment includes a $110 million development center, a $95 million investment in its subsidiary Wisk Aero for an electric flying taxi prototype, and collaboration with Héroux-Devtek.

Why NexGen spent $250M on 2.7M lbs of uranium

The stock market and stuff

• Nvidia Is the Final Hurdle for Mega Tech’s Earnings Victory Lap (Bloomberg)

• Legal Hurdles Remain for Cannabis Companies Seeking NYSE, Nasdaq Listings (theDeepDive)

• Carlyle sells $213 million in shares of Brazil's Rede D'Or -reports (Reuters)

• Vivek Ramaswamy Buzzfeed stake sends shares up 20%, seeking strategic ‘shift’ (CNBC)

In the juniors

• AI Music Company Attracts High-Profile Investors in $125M Round (theDeepDive)

• NiCan Hits 2.88% Copper, 2.14% Nickel Over 20.3 Metres (theDeepDive)

• Alaska Energy Metals Options Nickel-Copper Project In Quebec, Exploration To Get Underway Shortly (theDeepDive)

FULL DISCLOSURE: Alaska Energy Metals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Alaska Energy Metals. The author has been compensated to cover Alaska Energy Metals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.