Aug 28, 2025

I recently came across news about a biotech company called ESSA Pharma Inc. that made an error in announcing a dividend payment to its shareholders. The company declared a dividend of $80 million to be paid out on August 22, but an off-by-one error in the announcement caused confusion. This led to a lot of trading activity, with the stock price fluctuating as investors tried to figure out if they were entitled to the dividend.

In another interesting development, the landscape of sports gambling in the United States has undergone a significant shift. Following a Supreme Court ruling in 2018 that allowed states to regulate sports gambling, a recent development involving a prediction market named Kalshi has led to a situation where federal regulations now preempt state gaming laws. This has resulted in a scenario where sports betting is now considered a form of commodities futures trading.

Additionally, a retail stock brokerage firm, Robinhood, has partnered with Kalshi to offer sports bets to its clients. Despite legal challenges from state regulators, Robinhood has taken the matter to court to assert its right to offer sports bets. This situation has raised questions about the intersection of sports betting, commodities trading, and state regulations in the gambling industry.

Furthermore, there was an interesting case where the CEO of an Australian online retailer, Kogan.com Ltd., had an AI-generated voice read the script for the company’s earnings call. The use of AI to present the earnings call saved time for the CEO and allowed them to focus on other aspects of the business. This innovative use of technology showcases the evolving landscape of corporate communications and the integration of AI in business operations.

Today, I heard that there is news about earnings scripts and investors using artificial intelligence tools to analyze voices for optimism, panic, or dishonesty. Additionally, President Trump’s move to fire the Fed’s Cook has caused a sell-off in US long-term debt. UniCredit has raised its stake in Commerzbank, and Trump Jr. has joined the Polymarket Advisory Board. JPMorgan is looking to expand its card spending, while AT&T; plans to buy spectrum licenses from EchoStar for $23 billion. Elon Musk’s xAI is suing Apple and OpenAI, alleging monopolistic practices. Perplexity is launching a new revenue-share model for publishers, and a squirrel was honored with a Topps card for interrupting a Yankees game.

Stay Well!