📈 TSX Hits Records, Retail Reshuffles, and Crypto Steps Up

TSX Climbs, Deals Fly, and Crypto Lands in Canada

It’s been a strong week for Canadian markets, with the TSX hitting a record high on the back of solid earnings and rising investor confidence. At the same time, headline-making deals are reshaping key sectors.

Hudson’s Bay is offloading legacy brands to Canadian Tire in a $30 million move, while U.S.-based Robinhood is planting a crypto flag north of the border with a $250 million acquisition of WonderFi.

From retail reinvention to cross-border fintech disruption, the momentum is building. Whether you're tracking new investment plays or long-term portfolio trends, there’s plenty to pay attention to.

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Let’s see where the markets take us next.

3 Minute Read:

Here's how some major markets/indexes performed in the last 5-days:

• Dow Jones: 42,554 (1.56%)
• Nasdaq 100: 21,379 (2.69%)
• TSX: 25,990 (2.14%)
• BTC: 104,027 (-0.01%)
• Ethereum: 2,584 (2.95%)

(USD)

As of 05/16/2025 at 10:45AM PST

TSX Climbs to New Heights

Canada’s main stock index surged to a record high this week, with the S&P/TSX Composite breaking through 23,000 points for the first time. The rally was fueled by a combination of strong earnings in the banking and tech sectors, stabilizing commodity prices, and cautious optimism around global trade developments. Resource-heavy sectors like energy and mining also saw gains, supported by continued strength in gold and base metals.

Why it matters: Investor sentiment appears to be shifting back toward Canadian equities as global markets seek stability. While questions around tariffs and interest rates remain, the TSX’s momentum is a sign of resilience and an encouraging signal for portfolios diversified north of the border.

In today’s complex economic environment, private Canadian apartments continue to distinguish themselves as a historically proven investment that has weathered uncertainty and market volatility. That’s one reason Equiton, a leading name in the world of private real estate, has become a top choice for many advisors.

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Robinhood Dives Into Canada’s Crypto Market

What happened: Robinhood is making its move north, announcing a $250 million acquisition of Toronto-based WonderFi. The deal would give the U.S. brokerage access to WonderFi’s 1.7 million users, $2.1 billion in assets, and a suite of regulatory licenses—critical for navigating Canada’s tightly governed crypto space. Operations at Bitbuy and Coinsquare (WonderFi’s platforms) will stay intact, at least for now.

Why it matters: The acquisition marks Robinhood’s first major international crypto expansion, positioning it as a direct challenger to Wealthsimple in Canada. With regulatory hurdles already cleared via WonderFi’s licensing, Robinhood could scale faster than expected.

Big picture: Robinhood isn’t entering Canada quietly. It’s already built an engineering hub in Toronto and called the country its “next step” for global growth. While it’s not offering stock trading in Canada yet, the move could hint at bigger ambitions beyond crypto.

It wasn’t long ago that investors wondered if digital assets were suitable for their portfolios. Today, that concern has been answered by institutions and portfolio managers who tout cryptocurrency-based products as an important part of a basket of alternative investments. So now, the question isn’t if, but how much digital assets should be in a portfolio.

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White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF) is expanding its resource base in Canada's Yukon, with new discoveries that suggest significant hard rock gold potential across its district-scale land package.

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US Gold Corp (NASDAQ: USAU) is advancing its eco-friendly mining projects in Wyoming, leveraging high gold and copper prices to support American jobs and enhance strategic metal production.

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📢  This Week's Selected Company News:

Canadian Tire Buys Hudson's Bay Brands for $30M

Canadian Tire is acquiring key brand assets from Hudson's Bay for $30 million, including the iconic multicoloured stripe motif and private labels like Gluckstein, Distinctly Home, and Hudson North. Experts say the deal could be a smart brand play, but warn Canadian Tire must tread carefully to maintain the legacy and value of the Bay name. Whether it’s cozy blankets or outdoor gear, the next chapter for Canada’s oldest department store identity will soon unfold.

Full story ➤

HIVE Boosts Mining Capacity in Paraguay

HIVE Digital Technologies (NASDAQ: HIVE, TSX.V: HIVE) has ramped up operations at its Paraguay site, surpassing 7 EH/s in global hashrate and producing 102 Bitcoin in April. With clean hydroelectric power and Phase 2 construction underway, the company is on track to reach 18 EH/s this summer and 25 EH/s by year-end.

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Lexaria Advances Pharma Partnership

Lexaria Bioscience (NASDAQ: LEXX) has confirmed the successful delivery of its DehydraTECH-processed material to a leading pharmaceutical company under their Material Transfer Agreement. Testing is expected to begin shortly, marking a key step forward in Lexaria’s pharmaceutical strategy and potential commercial opportunities.

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📬 That’s a wrap for this week!

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