Stock price when the opinion was issued
He owns the common stock and the preferred share. They have sold off their resource business side of their brokerage business. They are in wealth management only now. TD took a run at them a few years ago and it could be a possibility in the future. He will continue to hold it.
Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Investors responded positively to news that avoids a proxy fight for Richardson, which they will fully take over. They are expected to buy back $40M which will result in greater per share earnings leverage. Unlock Premium - Try 5i Free
In 2 areas, wealth management via Richardson Securities and in commodities in terms of raising capital for mining organizations. A little over a year ago, they bought First Energy which got them into oil and gas, but now have also moved into cyber currencies, and into marijuana, 2 fast growing fields. Last quarter, they lost about $2.8 million, and revenues went down about 21%. Thinks this could be a very good year for them. A lot of their competition has fallen by the wayside and a lot have merged.