Shares of the Winnipeg-based software company, whose platform allows farmers to track data like soil moisture levels, fell 11 per cent Friday to around $2.50 per share. The company posted an adjusted loss of $17.8 million in the first quarter, which it attributed to lower revenue and higher staffing costs. (The Logic)
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Shares of the Winnipeg-based software company, whose platform allows farmers to track data like soil moisture levels, fell 11 per cent Friday to around $2.50 per share. The company posted an adjusted loss of $17.8 million in the first quarter, which it attributed to lower revenue and higher staffing costs. (The Logic)
Talking point: Shares in Farmers Edge remain well below their debut price of about $18 apiece, when the firm joined the TSX amid investor enthusiasm for tech companies last year. Wade Barnes, the company’s founder, stepped aside earlier this year as it looks to reorient its operations. A host of tech companies are struggling to regain investor confidence, as economic volatility and inflation have caused a tech stock selloff. Meanwhile, the stock price of Dye & Durham, the Toronto-based legaltech platform that reported Thursday a 78-per-cent revenue increase to $122.9 million in its latest quarter, is trading at less than a third of its 2021 peak of around $52 per share.
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