Holding, Finance Companies Point to Higher Numbers, Stock Prices

Companies which help other companies prosper, and consumers buy goods, were at center stage Wednesday.

In New York, the consumer discretionary sector gathered 0.8% late Wednesday, while in Canada, the sector jumped 1.8%.

Nevada-based International Spirits & Wellness Holdings (OTC: ISWH), made heads turn Wednesday, with word it was entering into a new joint venture with Bit5ive LLC, a worldwide leader in cryptocurrency mining and innovative turnkey mining solutions.

Bit5ive is an official distribution partner of Bitmain, the industry-leading manufacturer of top-selling crypto mining equipment. The joint venture will utilize the strengths of both companies to bring together international brand management with innovative crypto mining solutions.

“We are incredibly excited to expand our current portfolio and move into what we believe is a sector poised for strong technological and financial growth,” said ISW Chairman Alonzo Pierce.

ISWH is a diversified portfolio company comprised of essential business lines that serve consumer product demands.

Its shares vaulted in price a nickel, or 16.2%, to 35.8 cents, though on unimpressive volume of 2,700 shares.

Still with the world of companies which run on finance, Toronto-based Axis Auto Finance Inc.(TSX-Venture: AXIS) which claims to be Canada's fastest growing publicly-traded sub-prime automotive finance company, today announced financial results for its fiscal third quarter.

AXIS boasted record quarterly revenues of $10.0 million, or a jump of a 34% over the prior-year quarter.

The company also enjoyed record quarterly originations of $29.7 million, a 109% increase year-over-year;

The company also heralded record gross finance receivables of $126.7 million, up from $114.7 million in fiscal 2019; and adjusted earnings of $1.2 million for Q3 2020.

Shares in AXIS gained 1.5 cents, or 6.1 cents, to 26 cents, on volume of 41,000.