STOCKS TELEGRAPH

Author: Asim Kamal

  • WHY The Star Equity Holdings Inc. (STRR) Is Uprising During After-Market Trading?

    WHY The Star Equity Holdings Inc. (STRR) Is Uprising During After-Market Trading?

    Star Equity Holdings Inc. (STRR) shares gained 8.26% in after-hours on Friday, July 9, 2021, and closed the week at $3.67 per share. Earlier in the morning session, STRR’s stock gained 10.42% to close Friday’s morning session at $3.39 per share. STRR shares have risen 16.49% over the last 12 months, and they have moved up 15.70% in the past week. Over the past three months, the stock has gained 2.73%, while over the past six months, it has declined 14.53%.

    Participation in the upcoming investor conference

    Star Equity Holdings Inc will participate in the upcoming Access to Giving Virtual Conference, which is scheduled for Thursday, July 15, 2021. During the event, More than 50 companies are scheduled to conduct virtual presentations over three days as well as 1×1 meetings with qualified investors.

    Adopting Right Agreement to Protect Net Operating Losses

    On June 02, 2021, the board of directors of Star Equity Holdings adopted the Rights Agreement with American Stock Transfer & Trust Company, LLC, as rights agent, designed to preserve the value of the Company’s significant U.S. net operating loss carryforwards and other tax benefits.

    Although the Rights Agreement will be effective immediately according to its terms, still the company has to seek stockholder approval of the Rights Agreement at its 2021 annual meeting of stockholders.

    Dividend Declaration

    On May 26, 2021, the Board of Directors of Star Equity Holdings, Inc declared a cash dividend to holders of the Company’s 10% Series A Cumulative Perpetual Preferred Stock of $0.25 per share. The record date for this dividend is June 1, 2021, and the payment date is June 11, 2021.

    Recent financial results announcement

    On May 14, 2021, Star Equity Holdings, Inc released its financial results for the first quarter (Q1) ended March 31, 2021.

    Q1 2021 financial highlights

    • Star Equity Holdings earned a revenue of $22.4 million in Q1 2021 compared to $19.2 million in Q1 2020.
    • In Q1 2021 gross profit was $3.1 million compared to $3.2 million in Q1 2020.
    • The total operating expenses were $4.65 million in Q1 2021 compared to $5.44 million in Q1 2020.
    • The company suffered a net loss of $0.6 million or $0.12 per basic and diluted share in Q1 2021 compared to a net loss of $2.4 million or $1.15 per basic and diluted share in Q1 2020.
    • Adjusted EBITDA was negative $0.9 million in Q1 2021 compared to negative $0.5 million in Q1 2020.
    • The company had cash and cash equivalents and restricted cash of $13.3 million on March 31, 2021.

    Conclusion

    Well, as of this writing, there is no recent news for its recent performance on Friday. we can assume that STRR stock will perform well in the new trading week.

  • WhyWelltower Inc. (WELL) stock plummeted in the after-hours on Friday?

    WhyWelltower Inc. (WELL) stock plummeted in the after-hours on Friday?

    Welltower Inc. (WELL) shares plunged 15.04%  in after-hours on Friday, July 9, 2021, and closed the weekly trading at $73.43 per share. Earlier in the morning session of Friday, WELL’s stock gained 1.81% to close Friday’s session at $86.43 per share. WELL shares have risen 75.67% over the last 12 months, and they have moved up 3.22% in the past week. Over the past three months, the stock has gained 15.07%, while over the past six months, it has declined 36.54%.

    Let’s discuss its recent news and developments briefly.

    2020 Environmental, Social and Governance Report

    On July 7, 2021, Welltower Inc released its annual Environmental, Social, and Governance (ESG) Report. The report reviews Welltower’s continued strong performance in 2020 across a range of ESG initiatives including diversity and inclusion, environmental responsibility, and corporate governance.

    Closing of $500 million Senior Unsecured Notes Offering

    On June 29, 2021, Welltower Inc closed its offering of $500 million in 2.050% senior unsecured notes due January 2029.

    The net proceeds from the Offering will be used for general corporate purposes, including repayment of debt and investing in health care and seniors housing properties.

    Seniors Housing Occupancy Gains in June

    Welltower Inc seniors housing operating portfolio is seeing a recovery in occupancy. The SHO portfolio occupancy expanded 140 basis points surpassing the company’s initial guidance of around 130 bps gains for the full second quarter on June 18, 2021. Total portfolio occupancy advanced 180 bps from the pandemic since March 12, 2021.

    The company’s U.S. and U.K. SHO portfolios reported occupancy gains of roughly 210 bps and 170 bps, respectively, from the start of the current quarter till June 18, 2021.

    Acquisition of Holiday Retirement properties

    On June 21, 2021, Welltower® Inc. entered into a definitive agreement to acquire a portfolio of 86 seniors housing properties, including 80 nearly identical independent living and six combinations of independent living/assisted living properties, currently owned by Holiday Retirement for $1.58 billion.

    The transaction is expected to be completed in the third quarter of 2021 and Atria Senior Living will run operations of the properties and retain Holiday’s in-place senior management and staff.

    A new strong relationship with Monarch Communities

    On June 10, 2021, Welltower® Inc formed a new relationship with Monarch Communities. Monarch is a new brand founded by industry veterans Michael Glynn, Ross Dingman, and Andrew Teeters, who have decades of senior living experience and is a vertically integrated senior living provider with expertise in development, design-build, management, and long-term ownership.

    Revised Q2 2021 financial outlook

    On June 8, 2021, Welltower® Inc revised its second-quarter 2021 outlook. The company now set a target of $0.34 – $0.38 income per diluted share as compared to previous guidance of $0.31 – $0.36 per diluted share.

    The company now expecting to get normalized funds from operations in a range of $0.75 – $0.79 per diluted share as compared to previous guidance of $0.72 – $0.77 per diluted share.

    Conclusion

    Well, as of this writing there was no recent news which we could link with its Friday performance. But WELL is doing well in the recent past and it is recovering from pandemic so we can expect it to perform positively on Monday.

  • Here is why LightPath Technologies Inc. (LPTH) performed well on Thursday?

    Here is why LightPath Technologies Inc. (LPTH) performed well on Thursday?

    LightPath Technologies Inc. (LPTH) shares gained 15.09% in after-hours on Thursday, July 8, 2021, and closed the day at $2.67. Earlier in the morning session, LPTH’s stock gained 0.43% to close Thursday’s session at $2.32 per share. The stock volume remained 2.74 million shares, which was higher than the average daily volume of 2.51 million shares within the past 50 days. LPTH shares have fallen 25.16% over the last 12 months, and they have moved down 8.66% in the past week. Over the past three months, the stock has lost 23.18%, while over the past six months, it has declined 39.43%.

    Let’s have a look at its recent developments

    Strong demand for LightPath’s High Precision Molded Glass Optics

    On July 8, 2021, LightPath received a multiyear supply agreement valued above $2.4 million which is a 50% increase over the prior contract.

    The supply agreement is for two types of glass aspheres which enable a global industrial engineering company to manufacture precision measurement and motion control devices across a diverse range of industries including additive manufacturing, aerospace, automotive and healthcare.

    Participation in the Mars Exploration Program

    On May 18, 2021, NASA’s Jet Propulsion Laboratory (JPL) confirmed that Optical elements manufactured by LightPath Technologies subsidiary, ISP Optics, is supporting the Mars Curiosity Rover’s efforts in the NASA Science Exploration Program.

    The Zinc Sulfide Mid-wave Infrared (MWIR) lens and beam-splitter are critical components of the Tunable Laser Spectrometer (TLS) instrument on the Mars Curiosity Rover.

    New Chairman appointment

    On May 12, 2021,LightPath Technologies, Inc appointed Mr. Louis Leeburg as Chairman of the Board of Directors of LightPath, replacing Mr. Robert Ripp who retired, effective May 11, 2021.

    Recent financial results

    On May 6, 2021, LightPath Technologies, Inc released its financial results for its fiscal 2021 third quarter ended March 31, 2021.

    Q3 2021 financial highlights

    • LightPath Technologies reported revenue of approximately $10.7 million in Q3 2021 compared to $8.7 million in Q3 2020.
    • The gross margin was approximately $3.9 million in Q3 2021 compared to approximately $4.0 million in the same period of the prior fiscal year.
    • The total cost of sales was approximately $6.8 million in Q3 2021 compared to $4.7 million for Q3 2020.
    • The gross margin was 36% in Q3 2021 compared to 46% in Q3 2020.
    • The total operating expenses were approximately $3.7 million inQ3 2021 compared to $2.9 million in the same period of the prior fiscal year.
    • The company suffered a net loss of approximately $223,000, or $0.01 basic and diluted loss per share in Q3 2021 compared to net income of $816,000, or $0.03 basic and diluted earnings per share in Q3 2020.
    • EBITDA was approximately $1.1 million for Q3 2021 compared to $1.9 million for Q3 2020.
    • As of March 31, 2021, the company had cash and cash equivalents totalled approximately $5.9 million.

    Conclusion

    The recent renewal contract had a positive impact on LPTH stock price on Thursday and we are pretty confident that I will close the week on a positive note as well.

  • Cyclerion Therapeutics Inc. (CYCN) stock jumped on Thursday after the recent announcement but WHY?

    Cyclerion Therapeutics Inc. (CYCN) stock jumped on Thursday after the recent announcement but WHY?

    Cyclerion Therapeutics Inc. (CYCN) shares jumped 6.52% in after-hours on Thursday, July 8, 2021, and closed the trading at $3.91 per share. Earlier in the morning session on Thursday, CYCN’s stock gained 1.38% to close the session at $3.68 per share. CYCN shares have fallen 35.44% over the last 12 months, and they have moved down 5.64% in the past week. Over the past three months, the stock has gained 29.12%, while over the past six months, it has declined18.33%.

    Let’s see why CYCN performed well on Thursday?

    Partnership with Beacon Biosignals

    On July 8, 2021, Cyclerion Therapeutics, Incand Beacon Biosignals announced an extended and expanded strategic partnership between the two companies. This collaboration is expected to identify disease-relevant biomarkers to refine patient selection and endpoints to guide the clinical development of Cyclerion’s investigational therapeutics for neurological diseases associated with cognitive impairment.

    The global licensing agreement with Akebia Therapeutics

    On June 04, 2021, Cyclerion Therapeutics, Inc entered into an exclusive, global license agreement with Akebia Therapeutics, Inc for the development and commercialization of praliciguat, an oral sGC stimulator.

    The total agreement value is up to $585 million and Cyclerion is eligible to receive up to $225M in pre-commercial milestones, including up to $15M in the first 18 months.

     $18 Million Private Placement announcement

    On June 04, 2021, Cyclerion Therapeutics, Inc announced a direct private sale of approximately $18 million of Cyclerion shares of common stock to EcoR1 Capital, LLC, Slate Path Capital LP, MFN Partners, LP, Invus, Peter Hecht, Ph.D., Lincoln Park Capital Fund, LLC and Polaris Partners.

    Publication of CY6463 Preclinical Data

    OnMay 27, 2021, Cyclerion Therapeutics, Inc announced the publication of preclinical data of CY6463 in Frontiers in Pharmacology.

    What is CY6463?

    CY6463, an oral, first-in-class, central nervous system (CNS)-penetrant sGC stimulator, for neurological diseases associated with cognitive impairment, including Alzheimer’s disease with vascular pathology (ADv), Mitochondrial Encephalomyopathy, Lactic Acidosis and Stroke-like episodes (MELAS), as well as Cognitive Impairment Associated with Schizophrenia (CIAS) which Cyclerion is developing.

    Recent participation in the health conference

    Cyclerion Therapeutics recently participated at the Jefferies Virtual Healthcare Conference which held on Tuesday, June 1, 2021. The company’s management presented a corporate overview of the company.

    Exceptional share purchased by Cyclerion CEO

    On May 9, 2021, the news came to the market that the CEO & Director of Cyclerion, Peter Hechtrecently bought a whopping US$1.7m worth of stock, at US$2.43, boosting their holding by 309%.

    New Board member

    On April 26, 2021, Cyclerion Therapeutics, Inc appointed Errol De Souza, Ph.D., to its board of directors.

    Conclusion

    The expansion and extension of the partnership with Beacon Biosignals was the reason behind its good performance on Thursday and it can continue its surge on the last trading day of the week.

  • Why Castlight Health Inc. (CSLT) turnaround in the after-hours on Tuesday?

    Castlight Health Inc. (CSLT) shares soared 6.75% in after-hours on Tuesday, July 6, 2021, and closed at $2.53 per share. Earlier in the morning session on Tuesday, CSLT’s stock lost 2.87% to close Tuesday’s morning session at $2.37 per share. CSLT shares have risen 191.41% over the last 12 months, and they have moved up 3.95% in the past week. Over the past three months, the stock has gained 49.06%, while over the past six months, it has lost 82.31%.

    Let’s have a look at its recent news.

    Impact of social determinants of health

    On June 16, 2021, Castlight Health, Inc announced the results of a new study on the impact of social determinants of health (SDoH) factors on workforce health. The results were published in the Journal of Primary Care and Community Health.

    The study found that 27 percent of more than five million commercially insured people live in a zip code where the median income is at or below 200 percent of the Federal Poverty Level (FPL).

    Participation in the recent investor conference

    The senior management of Castlight Health recently participated in the William Blair 41st Annual Growth Stock Conference which held on June 3, 2021. The company’s management had one-on-one meetings with investors.

    Earlier the company’s chief financial officer, Will Bondurant presented the company at the Needham 16th Annual Virtual Technology & Media Conference which held on Tuesday, May 18, 2021.

    Castlight Health’s Navigation solution helping employees in reducing medical bills

    On May 24, 2021, Castlight Health, Inc announced the results of a study by actuarial firm Santa Barbara Actuaries Inc. (SBA), which found that employers who implemented Castlight’s navigation solution experienced significant financial savings, including a 9.1% year-over-year reduction in medical spend among members who use Castlight compared to a matched control group.

    New appointment

    On May 6, 2021, Castlight Health, Inc appointed Erik Sossa, former vice president of Global Benefits and Wellness at PepsiCo, as a strategic advisor. Sossa brings decades of HR benefits and industry experience to Castlight’s market-leading health navigation solution that helps power America’s largest employers.

    Recent financial results announcement

    On April 29, 2021, Castlight Health, Inc released its financial results for its first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • Castlight Health reported revenue of $35.1 million in Q1 2021 compared to $39.0 million in Q1 2020.
    • Total operating expenses were $25.4 million in Q1 2021 compared to $81.2 million in Q1 2020.
    • The GAAP-Gross margin was 63.6% in Q1 2021 compared to 62.9% in Q1 2020.
    • The company suffered an operating loss of $3.1 million in Q1 2021, compared to $56.6 million in Q1 2020.
    • In Q1 2021, GAAP net loss per basic and diluted share was $0.02compared to a net loss per basic and diluted share of $0.38 in Q1 2020.
    • As of March 31, 2021, the company had total cash of $56.5 million.

    Conclusion

    As of this writing, there is no recent news or development which could be the reason behind its early loss and later gains on Tuesday. We hope that CSLT stock will perform well in the coming days.

  • Why Lazydays Holdings Inc. (LAZY) stock pop up in the after-hours on Tuesday?

    Lazydays Holdings Inc. (LAZY) shares surged 7.53% in after-hours on Tuesday, July 6, 2021, and closed the day at $20.99 per share.  Earlier in the morning session, LAZY’s stock lost 2.89% to close Tuesday’s session at $19.52. LAZY shares have risen 124.63% over the last 12 months, and they have moved down 18.33% in the past week. Over the past three months, the stock has gained 5.40%, while over the past six months, it has declined 19.17%.

    Intention to acquire Burlington RV Superstore

    On June 14, 2021, Lazydays Holdings, Inc signed a letter of intent to acquire Burlington RV Superstore which is located in Sturtevant, Wisconsin, and is strategically located between the Milwaukee and Chicago markets. Burlington RV offers a wide selection of outstanding RV brands including Newmar, Grand Design, Thor, Forest River, Jayco, and Coachmen. The acquisition is expected to be finalized within 90 days.

    Inauguration on Russell 3000 Index

    Lazydays Holdings, Inc joined the broad-market Russell 3000® Index after the 2021 Russell indexes annual reconstitution, effective after the US market opened on June 28, according to a preliminary list of additions posted on June 4.

    Nasdaq Notice on Late Filing of its Form 10-Q

    On  May 25, 2021, Lazydays Holdings, Inc received a notice from The Nasdaq Stock Market notifying the Company that, because it failed to timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2021, with the Securities and Exchange Commission, the Company is no longer in compliance with the periodic filing requirements for continued listing outlined in Nasdaq Listing Rule 5250(c)(1).

    Recent financial results announcement

    On May 26, 2021, Lazydays Holdings, Inc announced its financial results for the first quarter of 2021 which ended on March 31, 2021.

    Q1 2021 financial highlights

    • Lazydays Holdings earned a revenue of $270,993 thousand in Q1 2021 compared to $190,854 in Q1 2020.
    • Selling, general and administrative expenses were $37,723 thousand for Q1 2021 compared to $31,118 for Q1 2020.
    • Net income for Q1 2021 was $8,844 compared to $3,399 for Q1 2020.
    • Basic EPS was $0.54 and diluted EPS was $0.32 in Q1 2021 compared to $0.12 EPS for both basic and diluted shares in Q1 2020.

    Intention to acquire BYRV, Inc. and BYRV Washington

    On May 12, 2021, Lazydays Holdings, Inc signed a letter of intent to acquire BYRV, Inc. and BYRV Washington, Inc. (collectively B. Young RV). B. Young RV has two dealerships strategically located in Portland, Oregon, and Vancouver, Washington. B. Young RV has a large presence in the rapidly growing Oregon and Washington markets offering a wide selection of outstanding RV brands including Tiffin, Newmar, Grand Design, Thor, and Forest River. The acquisition of B. Young RV is expected to be finalized within 90 days.

    Conclusion

    Well, as of this writing, there is no recent news or development which could be the reason behind its mixed performance on Tuesday. We are unsure how LAZY stock will perform in the coming days.

  • WhyMingZhu Logistics Holdings Limited (YGMZ) stock surged on Tuesday?

    MingZhu Logistics Holdings Limited (YGMZ) shares gained 16.81% in after-hours on Tuesday, July 6, 2021, and closed the day at $5.49 per share. Earlier in the morning session, YGMZ’s stock gained 3.07% to close Tuesday’s session at $4.70 per week. YGMZ shares have moved up 4.68% in the past week. Over the past three months, the stock has lost 8.56%, while over the past six months, it has declined 52.14%.

    Let’s have a look at its recent news and developments

    Acquisition of Zhejiang CheYi Network Technology

    On July 6, 2021, MingZhu Logistics Holdings Limited entered into a non-binding memorandum of understanding to acquire the controlling equity interest of Zhejiang CheYi Network Technology Co., Ltd. The acquisition offers MingZhu’s customers additional platform enhancements and directly fits with MingZhu’s acquisition strategy, which includes adding financially accretive, best-of-breed companies and products.

    Regaining Nasdaq compliance

    On June 29, 2021, MingZhu Logistics Holdings Limited received notification from The Nasdaq Stock Market LLC confirming the Company has regained compliance with the periodic filing requirement for NASDAQ under Listing Rule 5250(c)(1). NASDAQ noted this matter is now closed.

    Recent financial results announcement

    On June 28, 2021, MingZhu Logistics Holdings Limited released its audited financial results for the full year ended December 31, 2020.

    FY 2020 financial highlights

    • MingZhu Logistics reported revenue of $18.8 million for the year ended December 31, 2020, compared to $29.4 million for the year ended December 31, 2019.
    • Total costs and expenses were $17.4 million for FY 2020 compared to $26.7 million for the year 2019.
    • The company’s comprehensive income was $1.5 million and net income of $0.08 per basic and diluted share in FY 2020 compared to $1.5 million and net income of $0.18 per basic and diluted share for the year 2019.
    • As of December 31, 2020, the company had an $11.6 million balance of cash and restricted cash with a $5.3 million accounts receivable balance and an $11.4 million other receivables balance.

    Closing of Registered Direct Offering

    On March 12, 2021, MingZhu Logistics Holdings closed a registered direct offering of an aggregate of 3,333,335 units of its securities with each Unit consisting of (i) one ordinary share of the Company, par value $0.001 per share, and (ii) one warrant to purchase 0.75 ordinary shares at $6.00 per unit for aggregate gross proceeds of $20 million.

    The company will get net proceeds of approximately $18 million and intends to use the net proceeds for working capital and general corporate purposes.

    MingZhu Logistics agreement with Huawei Logistics

    On March 3, 2021, MingZhu Logistics Holdings announced a significant new strategic cooperation with Guangdong Huawei Modern Logistics Co., Ltd. The cooperation agreement will leverage MingZhu’s trucking fleets and logistics expertise to provide a crucial, integrated link to and from Huawei Logistics’ CHINA RAILWAYExpress operation.

    Conclusion

    The recent acquisition agreement could be the reason behind YGMZ exceptional performance on Tuesday and it can continue its rally in the coming days as well.

  • Why Hollysys Automation Technologies Ltd. (HOLI) faced headwinds after the long weekend?

    Hollysys Automation Technologies Ltd. (HOLI) shares lost 0.21% in after-hours on Tuesday, July 6, 2021, and closed the day at $14.50 per share. Earlier in the morning session of Tuesday, HOLI’s stock lost 3.33% to close Tuesday’s session at $14.53. HOLI shares have risen 5.83% over the last 12 months, and they have moved up 2.25% in the past week. Over the past three months, the stock has gained 16.52%, while over the past six months, it has shed 1.82%.

    Let’s see is there any recent news that triggered its loss?

    Recent business update

    On July 6, 2021, Hollysys Automation Technologies Ltd announced its business update and revised financial outlook.

    The revised financial outlook for FY 2021

    • The company is expecting revenue in the range of approximately $560 million to $595 million in FY2021.
    • The industrial automation business of the company is expected to increase by 30% year-over-year.

    Business update

    • The Company won a 2*660MW integration contract with a power company in Q4 2021.
    • Hollysys will provide DCS, Safety Instrumented System (SIS), Gas Detection System (GDS), Fusion Digital Simulation (FDS), Asset Management System (AMS), OTS, Manufacturing Execution System (MES), fire and gas probes, and low-temperature detection instruments in a benchmark project of a core state-owned backbone enterprise in the petrochemical segment.
    • The Company signed a procurement contract for smart I/O system upgrade a new material workshop in Shandong, in terms of new product promotion.
    • The Company signed the first outdoor monitoring and intelligent diagnosis engineering system for track circuits, in the high-speed rail business in Q4 2021.

    Commencing of solicitation of consents from shareholders of Hollysys Automation Technologies Ltd

    On June 29, 2021, the buyer consortium consisting of CPE Funds Management Limited, Mr. Shao Baiqing, and Ace Lead Profits Limited commenced a solicitation of consents from shareholders of Hollysys Automation Technologies Ltdregarding the Consortium’s proposed acquisition of the Company.

    Hollysys Response to the consent solicitation

    On July 1, 2021, Hollysys Automation Technologies Ltd responded to the consent solicitation materials filed by CPE Funds Management, Ace Lead Profits, and an individual investor with the following statement.

    In a statement, the company said that the company has not authorized any third party to engage in negotiation with existing shareholders or potential investors relating to the shareholding structure of the Company and urged the shareholders not to respond to the consent solicitation material. The company further said that the company management is working to maximize long-term value creation.

    Recent financial results announcement

    OnMay 13, 2021, Hollysys Automation Technologies Ltd released its unaudited financial results for the third quarter and first nine months ended March 31, 2021.

    Q3 2021 financial highlights

    • Total revenues were $109.9 million for Q3 2021 compared to $80.77 million in Q1 2020.
    • In Q1 2021, the non-GAAP gross margin was at 37.5%, compared to 30.8% for Q1 2020.
    • Non-GAAP net income was $18.7 million, and Non-GAAP diluted EPS were at $0.31 in Q1 2021 compared to $13.9 million or $0.23 per share in Q1 2020.
    • As of March 31, 2021, cash and cash equivalents were $466.1 million compared to $356.9 million on December 31, 2020.

    Conclusion

    The HOLI poo performance on Tuesday is a bit strange.it may or may not be linked with its recently revised financial outlook for FY 2021 but the company provided an improved outlook for FY 2021 which should result in gains for HOLI stock but it worked another way around.  We hope that HOLI will recover its loss in the coming days.

  • Here is why Blonder Tongue Laboratories Inc. (BDR) performed well on Tuesday?

    Blonder Tongue Laboratories Inc. (BDR) shares were rallied 34.44% in after-hours on Tuesday, July 6, 2021, and closed the day at $2.03 per share. Earlier, BDR’s stock gained 16.15% to close Tuesday’s morning session at $1.51. BDR shares have risen 104.05% over the last 12 months, and they have moved up 16.15% in the past week. Over the past three months, the stock has gained 3.07%, while over the past six months, it has declined 16.15%.

    BDR received forgiveness loan payment

    On July 6, 2021, Blonder Tongue Laboratories, Inc received forgiveness of $1,768,762 of loan proceeds previously received under the Paycheck Protection Program.

    As previously disclosed, on April 10, 2020, the Company received a PPP Loan of $1,768,762 under the federal PPP Program. The PPP was established as part of the Coronavirus Aid, Relief and Economic Security Act and is administered by the U.S. Small Business Administration (SBA).

    Blonder Tongue Laboratories partnership with Innovative Systems 

    On June 16, 2021, Blonder Tongue Laboratories, Inc partnered with Innovative Systems to launch two new solutions for Blonder Tongue’s NXG IP Digital Video Signal Processing Platform.

    Recent financial results announcement

    On May 13, 2021, Blonder Tongue Laboratories, Inc announced its financial results for the first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • Blonder Tongue Laboratories reported net sales of $3,251,000 for the first quarter of 2021 compared to $4,050,000 for Q1 2020.
    • The company’s gross profit was $1.385 million in Q1 2021 compared to $553,000 in Q1 2020.
    • The company suffered a net loss of $414,000or $0.04 per share in Q1 2021, compared to $2,080,000 or $0.21 per share in Q1 2020.
    • In Q1 2021, net cash provided by operating activities was $234,000 compared to net cash used in operating activities of $842,000 in Q1 of 2020.

    Noncompliance Notice from NYSE 

    On April 7, 2021, Blonder Tongue Laboratories, Inc received notice from NYSE American LLC, stating that it is not in compliance with the continued listing standard outlined in Section 1003(a)(i) of the NYSE American Company Guide (the “Company Guide”). That section applies if a listed company has stockholders’ equity of less than $2 million and the listed company has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years.

    Conclusion

    The recent financial assistance could be the reason behind its good performance on Tuesday but we are not sure how long it can keep BDR stock surging so let’s see how it will perform in the coming days.

  • IM Cannabis Corp. (IMCC) stock had a GOOD Friday, but why?

    IM Cannabis Corp. (IMCC) shares soared 6.54% in after-hours on Friday, July 2, 2021, and closed the weekly trading at $5.70 per share. Earlier, IMCC’s stock gained 5.31% to close Friday’s normal session at $5.35. IMCC shares have moved up by 5.52% in the past week. Over the past three months, the stock has lost 29.61%, while over the past six months, it has declined 27.70%.

    Let’s see what’s going on recently with IMCC?

    Participation in the recent conference

    IM Cannabis Corp recently participated in the Cannabis Industry Virtual investor conference which held on Tuesday, June 29, 2021.

    The presentations from the June 29th & 30th Cannabis industry virtual investor conference are now available for on-demand viewing at VirtualInvestorConferences.com.

    Update about the proposed acquisition of MYM

    On June 28, 2021, IM Cannabis Corp announced that Glass, Lewis & Coand Institutional Shareholder Services Inc have each issued positive recommendations of IMC’s proposed acquisition of MYM Nutraceuticals Inc.

    The high effectiveness of seven IMC-branded medical cannabis strains proved

    On June 17, 2021, IM Cannabis Corp released its proprietary data from a clinical survey evaluating medicinal cannabis therapy. The patient survey reported the high effectiveness of seven IMC-branded medical cannabis strains in treating and alleviating symptoms of seven key health conditions in a clinical group of Israeli participants. The survey data will be used to help patients and doctors in medical markets all over the world customize cannabis-based therapies to best treat their diagnoses.

    Supply Agreement with Canadian LP the Flowr Corporation

    On June 7, 2021, IM Cannabis Corp announced that Focus Medical Herbs Ltd. (“Focus Medical”) has signed a multi-year supply agreement with The Flowr Corporation.

    Focus Medical will import Flowr’s ultra-premium cannabis strains into Israel according to a three-year supply agreement. This new partnership with Flowr strengthens and further contributes to IMC’s new indoor ultra-premium product category under the IMC brand.IM Cannabis Corp has an exclusive commercial agreement with Focus Medical in Israel.

    First Closing of the Panaxia Acquisition

    On June 1, 2021, IM Cannabis Corp provided an update about the acquisition of Panaxia.

    On April 30, 2021, IMC Holdings Ltd which is the Company’s fully owned Israeli subsidiary, signed a definitive agreement with Panaxia Pharmaceutical Industries Israel Ltd. and Panaxia Logistics Ltd.

    The company has now done the first closing and the second closing is expected to occur before July 30, 2021, or upon receipt of the Israeli Ministry of Health approval.

    Conclusion

    Though we do not have any recent development about IMCC as we know the cannabis industry is progressing very well and that’s the reason behind IMCC good performance before the long weekend. We can expect it to continue its positive performance after the long weekend as well.