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🫎1,461🍺
Luke Kawa

A can a day keeps tariff worries away?

As part of a nationwide “Buy Canadian” campaign, Moosehead Breweries is offering “The Presidential Pack” — a massive crate of 1,461 beers, one for each day of the Trump presidency.

That’s more than 776,000 milliliters of beer (or 23,000 ounces for the imperialists among us) at a cost of about 3,500 Canadian dollars (roughly US$2,450).

Adding to the humor of the offering, one of the false fables behind the origin of Canada’s name is that it’s a reference to a ration of beer (“can a day”).

It’s unclear whether Canadians will be able to limit themselves to just one a day, however. Not only could “Liberation Day” on April 2 be an excuse for a few libations, but the nation’s quest to end its more than 30-year Stanley Cup drought starts next month, as well.

Moosehead told Bloomberg it’s sold 10 Presidential Packs so far, but has more than 400 would-be buyers on a waitlist.

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IREN drops on convertible debt offering

Shares of crypto miner and AI compute provider IREN dropped after the Australia-based, US-listed company said late Tuesday that it would sell $875 million in convertible senior debt.

The announcement came late in the trading day and caused a sell-off in the aftermarket session that continued into Wednesday trading.

The offering makes sense; the company can probably get some fairly cheap capital after its shares doubled over the last month.

But it exposes shareholders to some dilution risk if buyers of the hybrid securities do convert them into equity, which explains the market reaction.

The offering makes sense; the company can probably get some fairly cheap capital after its shares doubled over the last month.

But it exposes shareholders to some dilution risk if buyers of the hybrid securities do convert them into equity, which explains the market reaction.

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Tempus AI shares surge to all-time high

Shares of Tempus AI jumped over 7% Wednesday to reach an all-time high of $99.90. Shares of the AI medical diagnostics company are up over 191% for the year so far.

The company has recently announced a flurry of FDA clearances for its technologies. Most recently, on September 22, Tempus AI was granted FDA clearance for its Tempus xR IVD device, which is used to tailor cancer therapies.

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