Each week, we provide an overview of insider trading, investing in local companies, and news from publicly traded companies.
The company will continue its international growth
Montreal startup Alvéole has received an investment of $8.1 million from Toronto-based Round13 Capital. Founded in 2013 by Alexandre Mclean, Alvéole helps building managers install hives and bee habitats. The company is already present in 40 cities located in six countries.
Millions of stock buybacks
Canadian National was the company that invested the most, in dollars, in its stock buyback in October, with $377 million allocated to it. This is followed by Alimentation Couche-Tard ($315 million), Metro ($57 million) and Power Corporation ($20.5 million). Federal Finance Minister Chrystia Freeland this week announced the introduction of a 2% tax in 2024 on share buybacks, a measure that will particularly affect the hydrocarbons sector. Target? “Make sure that the big companies pay their fair share. It will also encourage them to reinvest their profits in their workers and in Canada,” said Ms. Freeland.
Hopper raises another $128 million
This week, Huber announced, in an English-only statement, that he has received US$96 million ($128 million Canadian) from Capital One. The US bank had already made a similar investment in Hopper last year. The company founded by Frédéric Lalonde in 2007 privately offers an application for booking plane tickets.
Earned $515,000 for a CN . CEO
Canadian National Chief Financial Officer Ghislain Houle made a profit of more than $515,000 by exercising options to buy shares in the Montreal Railroad last week. CN stock is up more than 5% since the beginning of the year.
Dorel’s vice president of sales and marketing, Jeffrey Segel, bought approximately $245,000 of stock in the Montreal plant this week. Dorel’s stock is down about 30% in the past 26 weeks. Mr. Segel is one of the founders of Dorel, which makes baby products (Cosco, Safety 1st, Maxi-Cosi) and furniture.
Alan Bedard (still) exercise options
TFI International’s senior director, Alan Bedard, earned more than $7.3 million last week, by exercising options in the trucking company. Since the beginning of the year, the earnings made by Mr. Bedard in this way have exceeded $25 million.
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