STOCKS TELEGRAPH

Author: Hassan Masood

  • Harmony Gold Mining Company Ltd. (HMY) Stock on a Steady Decline, Here’s Why

    Harmony Gold Mining Company Ltd. (HMY), a company mining gold in South Africa and Papua New Guinea, has seen a decline of 3.52% in the premarket trading session. As a result that, HMY stock is currently changing hands at $3.56. On Wednesday, HMY stock decreased some 2.38% and was trading at $3.69.

    HMY fiscal 2021 financial results

    On the 31st of August, HMY reported the financial results for the fiscal year 2021, which ended 30th of June. According to those, the company produced gold of 47,755 kg during the year, while during the preceding year; it produced gold of 37,863 kg. The company posted a production profit of $777 million during the year, while during fiscal 2020, the production profit stood at $459 million. The basic loss per share during the year stood at $0.58. The headline loss per share was $0.60. The revenue generated during the year was $41.73 million, while during the previous year, it was $29.24 million. The gross profit stood at $6.07 million, while during the preceding year, it was $3.33 million. The net loss was $5.59 million, while during 2020, it was $0.85 million. The company had total assets of $49.49 million on the last day of the fiscal, while during the preceding year, the total assets stood at $44.69 million. The company had cash and cash equivalents of $2.81 million at the end of the year, while during the preceding year, these were $6.35 million.

    Injury at HMY mine

    On the 6th of August, the HMY administration said that in its Moab Khotsong mine, near Orkney, in the North West province, an employee was fatally injured as a result of felling of ground. The company said that investigation regarding the incident was underway. The executives and management of the company expressed their condolences on the incident. Peter Steenkamp, chief executive officer of Harmony, said that the company would continue its journey toward minimalizing the negative effects upon the company’s employees during operations.

    Appointment in BoDs

    In late February, HMY appointed Peter Turner to the board of Directors of Harmony Gold Mining Company. The company said that Mr. Peter would serve as an independent and non-executive director of the company, and besides, would be a technical committee member. Peter has extensive experience in deep underground mining within Africa. Dr. Patrice Motsepe, chairman of Harmony, expressed Mr. Peter’s induction into BoDs of HMY and said that the induction of Mr. Peter to the Board of Directors would make a significant contribution to the technical expertise required for the safety initiatives, development, and growth of the Company.

    What’s ahead for HMY?

    Indicators suggest that HMY stock could enjoy positive times shortly. During the last 5 years, the company’s EPS grew by some 30.90%. The sales during the last 5 years increased a massive 56.60%. The company expects that its EPS could grow some 67% this year. These statistics reveal a very sanguine picture of HMY stock. Potential investors should keep watching HMY stock performance in near future.

  • SOS Stock on a Steep Rise, Here’s Why

    SOS Ltd. (SOS), a company providing data mining and analysis services, has seen an increase of 8.04% in the premarket trading session. As a result that, SOS stock is currently changing hands at $3.09. In Wednesday’s trading session, the SOS stock rose some 5.54% and closed the day at $2.86.

    Investigations against SOS

    In recent months, different law firms have been actively pursuing investigations against SOS. They include Levi & Korsinsky LLP, Schall, Jakubowitz, and numerous others. The investigations revolve around the fact that during the Class period (between July 22, 2020, and February 25, 2021), the officials of the company made a number of misleading statements, and besides, they misrepresented the true nature, location, and existence of one of the principal executive office. It also misrepresented the existence of mining rigs that it claimed to have purchased. As a result of that, the company is accused of reporting false and misleading public statements during that time.

    SOS partnership with Niagara Development

    On 21st of June, SOS announced that it had entered into a joint venture agreement with Niagara Development LLC; a New Jersey based Liability Company. According to the details, the joint venture is about mining the crypto-currency, and besides, to construct an operation center, composed of digital super computing system. The agreement holds Niagara responsible for the provision of 150 Megawatts of electricity, particularly the one produced from renewables, and besides, the construction of a digital supercomputing custody operation center.  On the contrary, SOS would be responsible for all the management-related aspects of the project. Yandai Wang, Chairman of SOS, commented on the occasion that SOS remains optimistic to look for new avenues toward expansion across the globe.

    SOS Stock Fiscal 2020 financial results

    On the 5th of May, SOS released the financial results for the fiscal year 2020. According to those, the company had generated revenue of $50.28 million during the year, while during the preceding year; it generated $11.57 million in revenues. The cost of revenue stood at $37.29 million during the year, while in 2019, it was $9.45 million. The gross profit was $12.99 million, while during the preceding year, it was $2.11 million. The operating expenses during 2020 stood at $2.90 million, while during 2019, they were $0.36 million. The net loss stood at $4.40 million, while in 2019, $1.47 million. On the 31st of December 2020, the company had total current assets of $69.76 million, while on 31st of December 2019; it had assets of $20.55 million.

    Securities purchase agreement

    On the 29th of March, SOS entered into a securities purchase agreement with some institutional investors. According to that, the company agreed to sell 25,000,000 of its American Depositary Shares (ADSs) and warrants, to purchase 25,000,000 ADSs (the “Offering”), for gross proceeds of approximately $125 million. The company said that the warrants would have an initial exercise price of $5 and would be exercisable for a period of five years.

    What’s ahead for SOS stock?

    Statistics present an optimistic outlook for SOS in the near future. The EPS of the company is expected to increase by 106.80% during the current year. Past indicators depict during year-to-date, SOS stock has grown by a massive 93.24%. All these figures show that SOS stock is expected to keep momentum in its favor in the near future. So, potential investors should keep watching SOS stock performance.

  • INmune Bio, Inc. (INMB) Stock Rising Sharply in Afterhours, Here’s Why

    INmune Bio, Inc. (INMB), a clinical-stage immunotherapy company, is seeing a massive surge in share price within aftermarket trading session. INMB stock has gained 13.74% and is currently trading at $27.15.

    Positive results by XPro™

    This prodigious increase in INMB stock has come after the company announced a few hours ago that the Company’s selective DN-TNF inhibitor candidate for the treatment of Alzheimer’s disease as well as other neurological diseases, namely XPro™ (pegipanermin), improves the neuroimaging biomarkers of myelination in patients with Alzheimer Disease and besides,  decrease multiple species of Phospho Tau (pTau). These biomarkers data are obtained from the analysis of the recently concluded phase 1 study of XPro™ in Alzheimer’s patients by the company. The company also said that the white matter in MRI metrics has shown improvements. There occurs a 16% improvement in radial diffusivity. RJ Tesi, M.D., Chief Executive Officer of INmune Bio, praised the performance and said that the company hopes that in Phase 2, the company would successfully demonstrate that when XProTM decreases neuroinflammation and neurodegeneration, there occurs a measurable benefit on the patient’s cognitive function.

    Q2 financial results

    On the 4th of August, INMB released the financial results for the second quarter of the fiscal year 2021, ended 30th June, and besides, provided the business update. The company announced that subsequent to the end of the quarter, it raised $36.9 million of the net proceed through the direct offering. It raised $15 million of net proceeds through the sales of common stock through ATM. Also, the company entered into an agreement with Silicon Valley Bank regarding a $15 million credit facility. The agreement aims to partially fund the buyout of the option held by Xencor resulting from INmune’s in-licensing of Xpro™ in October 2017. The company reported that net loss during the quarter stood at $6.7 million, as compared to $2.1 million during the equivalent period of 2020. The research and development expenses stood at $4.5 million, as compared to $0.9 million during the previous year’s equivalent period. The general and administrative expenses stood at $2.1 million, as compared to $1.2 million during the equivalent period of 2020. The cash and cash equivalents on the 30th of June stood at $39.5 million. RJ Tesi, M.D said on the occasion that he hoped the company would repeat a similar tremendous performance on the financial front in the future as well.

    INMB agreement with LUMICKS

    On the 22nd of July, IMNB announced that LUMICKS, a leading next-generation life science tools company, had installed the z-Movi® Cell Avidity Analyzer at INmune Bio. IMNB said that it was employing the z-Movi cell avidity analysis platform to depict that tumor priming mechanism of action is the increase in NK cell:tumor cell avidity. Professor Lowdell, CSO of INmune Bio, commented on the occasion that the data obtained from z-Movi is incredibly valuable for the company’s continued development of INKmune.

    What’s next for INMB?

    Analysts have predicted that INMB is expected to generate revenue of $0.97 million during the current fiscal year. The sales growth of the company is expected to rise by a humongous 8718.20% during the current fiscal year. These and other similar statistics reveal that the IMNB stock could gain a lot in the future, though market volatility could impart its influence on the performance. So, potential investors should keep watching IMNB stock performance in near future.

  • Skillz Inc. (SKLZ) Stock on a Continuous Rise, Here’s Why

    Skillz Inc. (SKLZ) Stock on a Continuous Rise, Here’s Why

    Skillz Inc. (SKLZ), a company operating a mobile game platform, is seeing a continued surge in the premarket trading session. At the time of writing, SKLZ stock is trading at $13.36, an increase of 13.51%. SKLZ stock has picked up its momentum from where it left off in Tuesday’s trading session when the share price rose up to 11.14%.

    Trivia Crack coming on SKLZ

    On the 19th of August, SKLZ announced that one of the most popular trivia games in history, namely Trivia Crack, would be coming on the Skillz platform. Trivia crack has a worldwide presence and is considered to have more than 150 million active users annually. The company said that Trivia Crack would be the first trivia-based entertainment property of the Skillz platform, providing competitive and live tournament tyle play for the competitors. Skillz CEO and Founder Andrew Paradise said that Trivia Crack has the potential to be one of the most popular competitive trivia games of the current time, reaching new audiences and generations of players worldwide.

    Accolade for SKLZ

    On the 4th of August, SKLZ was named to the Fast Company’s third annual list of the “100 Best Workplaces for Innovators”. Skillz was ranked as number 37 on the list, According to Editor in Chief of Fast Company,  Stephanie Mehta, the list was comprised mainly looking upon the creation of innovative cultures, and its sustenance as well. Andrew Paradise praised the performance of the company and said on the occasion that the diverse and talented team of Skillz is driving the company forward in its goal to achieve a bright future.

    Q2 2021 financial results

    On the 3rd of August, SKLZ reported the financial results for the second quarter of 2021, which ended 30th of June. According to the details, the revenue during the quarter increased to $89.5 million, an increase of 52% from the previous year. The gross profit grew to $85.1 million during the quarter, an increase of 52% from the previous year. The net loss during the quarter increased to $79.6 million, while during the previous year, it stood at $20.2 million. The gross margin was 95% during the quarter. The cash on balance sheets was $692.8 million at the end of the quarter. There was no debt on the company at the end of the quarter. The company also updated regarding the business highlights of Q2. According to those, the company acquired Aarki, a platform delivers industry-leading ROI to its advertiser customers, during the quarter. The company also formed a strategic alliance with Exit Games. The company also launched its multi-phase partnership with NFL during the quarter, and besides, Launched Big Buck Hunter: Marksman, an advanced version of a highly successful arcade game.

    What future holds in store for SKLZ?

    Analysts have estimated that the revenue of SKLZ could increase by $555.7 million during the next fiscal year. Besides, the EPS of the company is expected to grow by 31.70% during the next fiscal year. According to the company’s own estimates, the acquisition of Aakri could result in the generation of $389 million during the current fiscal year. All of these indicators depict a positive picture of SKLZ stock. So, potential investors should keep a close eye on SKLZ stock performance in near future.

  • Baudax Bio, Inc. (BXRX) Stock Steeply Rising in After-hours, Here’s Why

    Baudax Bio, Inc. (BXRX) Stock Steeply Rising in After-hours, Here’s Why

    Baudax Bio, Inc. (BXRX), a pharmaceutical company, has seen a surge of 24.60% in its share price in aftermarket trading session. As a result of that, BXRX stock is currently trading at $0.78. BXRX stock saw a similar increasing trend on Tuesday’s regular trading session, with the stock surging some 3.23%.

    Q2 2021 financial results

    On the 5th of August, BXRX stock price decreased 6.91% after the company announced that quarterly results as well as operational highlights for the second quarter of the fiscal year 2021, ended June 30th. According to the details, the company had cash and cash equivalents of $37.6 million on the 30th of June. The net product revenue for the quarter stood at $0.2 million, while during the equivalent period of 2020, the net product revenue stood at $0.3 million. The cost of sales for three month period stood at $0.6 million, as compared to the cost of sales of $0.7 million during the equivalent period of 2020. The research and development expenses stood at $0.9 million, as compared to $1.4 million during the equivalent period of 2020. The selling, general and administrative expenses stood at $10.6 million, as compared to $11.2 million for an equivalent period of 2020. The company bore a net loss of $15.3 million, or $0.21 per diluted share, for the quarter, while during the same period of 2020, the net loss stood at $30..4 million, or $1.72 per diluted share.

    Financial results for 1st Half of 2021

    Besides announcing quarterly results, the BXRX also reported results for the first six months of the fiscal year 2021. The net product revenue for the period stood at $0.4 million, as compared to $0.3 million for an equivalent period of 2020. The cost of sales for six month period stood at $1.4 million, as compared to $0.7 million for an equivalent period of 2020. The research and development expenses stood at $2 million, as compared to $4.4 million during six month period of 2020. The selling, general and administrative expenses for six month period of 2021 stood at $22.7 million, as compared to $19.3 million for the same period of 2020. The net loss for the first half of fiscal 2021 stood at $32.2 million, as compared to a net loss of $70.7 million for the equivalent period of 2020. Gerri Henwood, President, and CEO of Baudax Bio, said on the occasion that he feels extremely pleased regarding the results, and said that the company hopes to perform more outstandingly in the future as well.

    BXRX gaining approvals of physicians

    In June, the BXRX announced that the injection, namely ANJESO has achieved approvals at more than 100 formularies across the US. In under one year of commercialization. The company said that it continues to receive positive feedback from different medics. The company also said that based on these performances; it expects to improve its financial performance in near future.

    What’s next for BXRX?

    The analysts believe that BXRX could post revenue of $11.43 million during the next fiscal year. The company is expected to grow by 37.80% in the next fiscal year, while during the current year, it is expected to grow by a tremendous 81.20%. So, based on these statistics, it could be said that future times are optimistic for BXRX stock, hence, potential investors should keep watching it.

  • Lightning eMotors, Inc. (ZEV) Stock Following a Growth Trajectory, Here’s Why

    Lightning eMotors, Inc. (ZEV) Stock Following a Growth Trajectory, Here’s Why

    Lightning eMotors, Inc. (ZEV), a company designing, manufacturing, and selling Electric Vehicles (EVs), has gained 6.59% in the regular trading session. As a result of that, ZEV stock changing hands at $9.22.

    Partnership with Collin’s Bus

    ZEV stock has surged in current market session due to the fact that hours ago, the company announced that it is entering in a strategic partnership with Collins bus to manufacture and deploy zero-emission, all electric Type A school buses. Collins bus is considered to be the market leader in the Type A school bus manufacture. During last 50 years, the company has deployed more than 70,000 buses in US and Canada. The buses would be all electric, and besides, would feature NMC batteries within them. These vehicles would have a gross vehicle weight of 14,500 pounds and would be able to support both Level 2 AC charging and Level 3 DC Fast Charging. The vehicles would also have V2G capabilities. Numerous other features would also be a part of these. Tim Reeser, CEO of Lightning eMotors said on the occasion that Collins’ leadership could be a strong catalyst for the market to move to all electric and together, both the companies could bring zero-emission school buses to each and every neighbourhood.

    Investigations against ZEV Stock

    In recent days, numerous law firms have been investigating the allegations of securities fraud against ZEV. They include Pomerantz, Bronstein, Gewirtz and Grossman LLC, Glancy Prongay & Murray LLP etc. The investigations revolve around the alleged violation of federal securities law by the company and its officers/directors. On 16th of August, the company announced the quarterly financial, which depicted a net loss of $0.79 per share. The Company also pulled its full year financial guidance for the remainder of 2021 and that came just days after the announcement that company was entering in a multi-year agreement with Forest River. Once that news came out, ZEV stock price fell 16.93%, stimulating law firms to begin investigations.

    Financial results for Q2 and 1st Half of 2021

    On 16th of August, ZEV released the quarterly results for second quarter of fiscal year 2021, as well as the results for six month period of 2021, ended 30th June. According to the details, the company posted revenue of $5.9 million, an increase of 580% when compared with the equivalent period of 2020. The gross loss was $1.1 million during the quarter, as compared to the $0.6 million during the equivalent quarter of 2020. The operating expenses were $16.8 million, as compared to $2.2 million during equivalent period of 2020. The net loss was $46.1 million, as compared to the net loss of $2.8 million during the equivalent period of 2020. The revenues for six month period stood at $10.5 million. The gross loss was $1.9 million. The operating expenses stood at $21.3 million, while the net loss was $73.5 million.

    What lies ahead for ZEV stock?

    Estimates have put the revenue target for ZEV for next fiscal year at $205.03 million. The company is expected to grow by some 83% during 2022. Besides, the company’s EPS is expected to increase by a prodigious 92.20% during current fiscal. All of these statistics point toward a positive future outlook for ZEV stock.

  • Lufax Holding Ltd (LU) Stock Plummeting in Pre-hours, Here’s Why

    Lufax Holding Ltd (LU) Stock Plummeting in Pre-hours, Here’s Why

    Lufax Holding Ltd (LU), a company operating a tech-empowered personal financial services platform in China, has seen a massive decrease of 8.47% in its share price in the premarket trading session. As a result that, LU stock currently stands at $8.10. In Monday’s trading session, LU stock gained an increase of 1.03%.

    Award for LU Hong Kong

    LU has announced today that its subsidiary, Lu International (Hong Kong) Limited (LU Hong Kong), has won the silver award for the wealth management tech at the IFTA FinTech Achievement Awards 2020. The award is given in recognition of LU Hong Kong’s achievements with regard to the provision of high-quality and round-the-clock wealth management services via its online management platform and its mobile application. IFTA FinTech Achievement Awards are annually hosted by a Hong Kong based non-profit organization, namely the Institute of Financial Technologists of Asia (IFTA). The organization is committed to providing fintech talents around the world with an opportunity to connect among them. Hua CAI, CEO of LU Hong Kong said on the occasion that the company remains committed to providing a one-stop, easy-to-use online wealth management platform with Robo-advisory solutions, to assist local investors with their long-term wealth planning.

    Q2 2021 Results

    On the 9th of August, LU announced the unaudited quarterly results for the second quarter of the fiscal year 2021, which ended on 30th June. According to the details, the company generated a total income of $2297 million during the quarter, an increase of 17.3% when compared with the equivalent period of 2020. The net profit increased by 53.2% from the equivalent period of 2020 and stood at $732 million. The total expenses during the quarter stood at $1313 million, an increase of 2.2% when compared with the equivalent time of the previous year. The company also reported operational highlights of the quarter. According to those, the outstanding balance of loans facilitated increased to $94 billion. The cumulative number of borrowers increased to 15.5 million. He Company’s retail credit facilitation revenue take rate1 based on loan balance was 9.7% during the quarter. The total number of registered users of wealth management business increased up to 47.1 million, while the total number of active investors grew up to 14.8 million. The annualized take rate for current products and services on the company’s wealth management platform stood at 31.8 bps during the quarter. Mr. JiGuangheng, Chairman of Lufax, praised the performance of the company and said that although market sentiment towards Chinese ADRs had fluctuated substantially due to changes in macro policies and market conditions, Lufax had greatly improved its operating performance while maintaining strong regulatory compliance and corporate governance.

    What’s ahead for LU stock?

    Statistical analyses reveal a very positive picture of LU. The revenue of the company is expected to increase to $10.76 billion during the coming year. The company is expected to grow by some 15.10% per annum during the next 5 years, while during next year, its expected growth percentage stands at 10.60%. These and alike figures should prove to be a motivating force for potential investors to maintain an interest in LU stock in the near future.

  • Diffusion Pharmaceuticals Inc. (DFFN) Stock Rising Sharply, Here’s Why

    Diffusion Pharmaceuticals Inc. (DFFN) Stock Rising Sharply, Here’s Why

    Diffusion Pharmaceuticals Inc. (DFFN), a biopharmaceutical company, has experienced an increase of 4.71% in its shares price during the current market trading session. As a result that, DFFN stock is currently being traded at $0.58.

    Clearance for TSC

    DFFN announced today that the company has obtained its clearance from the US FDA of its Investigational New Drug (IND) Application for the company’s lead product candidate, namely Trans Sodium Crocetinate (TSC).  Chris Galloway, M.D., CMO of Diffusion, stated on the occasion that Not only does it gives the company the ability to conduct the ILD-DLCO trial in the U.S., but also expands its potential regulatory opportunities across multiple divisions at the FDA encompassing numerous therapeutic areas.

    Q2 2021 financial results

    On the 11th of August, DFFN stock fell some 5.27% after the company announced financial results for the second quarter of fiscal 2021, which ended June 30th. According to the details, the total expenses (General and administrative, Research and development) stood at $3.8 million, while during the equivalent period of 2020, the total expenses stood at $3.7 million. The cash and cash equivalents on the 30th of June stood at $43.3 million. The company also reported numerous operating highlights that happened during the course of the quarter. On the occasion, Robert Cobuzzi, Jr. Ph.D., President, and CEO of Diffusion praised the performance of the company and said that the developmental plans of the company remain on track of success.

    DFFN report TSC phase-1 topline results

    On 30th June, DFFN reported topline results from the Phase-1 trial of TSC. According to the details, the company used transcutaneous oxygen monitoring (TCOM) to monitor the direct pharmacodynamic effects of TSC on the oxygenation of peripheral tissues of healthy volunteers. Primary endpoint data provided the topline results. The trend in Primary endpoint data indicated that there was an improvement in the peripheral oxygenation, as compared to the placebo. There was no evidence of hyper-oxygenation. Chris Galloway said that the observance of the positive trends in the trial was quite encouraging for the company.

    Q1 2021 financial results

    On the 10th of May, DFFN reported the financial results for the first quarter of the fiscal year 2021, which ended 31st of March. According to the details, the total expenses (Research and development, General and administrative) stood at $4.6 million, as compared to expenses of $2.9 million during the equivalent period of 2020. The cash and cash equivalents on the 31st of March stood at $46.6 million. Robert Cobuzzi said on the occasion that the company met the key milestones we set for ourselves for the first quarter of 2021 and pledged to repeat similar sorts of performances during coming times as well.

    What’s ahead for DFFN?

    Analysts estimate that the EPS of DFFN could increase by a humongous 83% during this year. The company is expected to grow by some 34.60% during this current year. All of these and alike statistics reveal that DFFN stock is expected to worth more in near future. So, based on this, potential investors should keenly keep watching DFFN stock’s performance in NASDAQ.

  • Acasti Pharma Inc. (ACST) Stock Undergoes Minor Volatility, Here’s Why

    Acasti Pharma Inc. (ACST) Stock Undergoes Minor Volatility, Here’s Why

    Acasti Pharma Inc. (ACST), a biopharmaceutical company, has gained 1.27% in the premarket trading session. As a result that, the ACST stock is currently changing hands at $0.42. ACST stock suffered a decline on Friday as well, with share price dropping some 4.07% in Friday’s trading hours.

    Acquisition of Grace by ACST

    On Friday, ACST announced that it had completed the previously disclosed acquisition of Grace Therapeutics, Inc. (Grace) via merger. According to the company, the successful merger could make Acasti build a premium specialty pharma company, which could merely focus on rare diseases. Acasti expected that following the merger, it has enough cash on its balance sheets to provide minimum of two years of operating runway. Jan D’Alvise, Acasti’s Chief Executive Officer stated on the occasion that he believes the Grace acquisition would be truly transformative and would create new and exciting opportunities for Acasti in sizable markets with substantial unmet medical needs.

    Q1 2022 financial results

    On 4th of August, the ACST reported the financial results for the first quarter of fiscal year 2022. According to the details, the company bore a loss of $3.1 million from operating expenses, as compared to the loss of $4.1 million during the equivalent period of 2020. The net loss for quarter stood at $3.1 million, or $0.01 per share, while the net loss for equivalent period of 2020 stood at $4.1 million, or $0.05 per share.  The total expenses (including research and development, general and administration, sales and marketing) during the quarter stood at $3.02 million, as compared to the overall expenses of $2.97 million during equivalent period of 2020. The cash and cash equivalents stood at $57.7 million, as compared to $12.1 million during same quarter one year ago.

    Investigations against ACST

    Recently, several law firms, including Halper Sadeh LLLP, Rigrodsky Law, Monteverde & Associates PC etc., have been actively investigating the ACST relating to its proposed merger with Grace Therapeutics. The primary focus of investigation lies on the fact that whether the ACST and its board of Directors have violated the securities law by their failure to conduct a fair process and whether the transaction is valued properly or not.

    Fiscal 2021 results

    On June 22nd ACST announced the business update of fiscal year 2021. According to the details, the company faced a loss of $16.4 million from operating activities during fiscal 2021, as compared to a loss of $24.4 million during fiscal 2020. The net loss for year stood at $19.7 million, or $0.17 per share, as compared to a net loss of $25.5 million or $0.30 per share in 2020. The total expenses (Research and development, Administrative and general, sales and marketing) stood at $8.7 million, as compared to $20.2 million during fiscal year 2020.

    What’s ahead for ACST stock?

    According to the estimates, the EPS of ACST is expected to increase by some 34% during the next fiscal year. The company is expected to post revenue of $3.15 million during next fiscal. Analysts also believe that company is expected to post its final loss in 2023, before turning to profit in 2024. Based on these and other statistics, it could be said with a confidence that ACST stock should be in the watch list of every investor.

  • Greenpro Capital Corp. (GRNQ) Stock on a Rising Trajectory, Here’s Why

    Greenpro Capital Corp. (GRNQ) Stock on a Rising Trajectory, Here’s Why

    Greenpro Capital Corp. (GRNQ), a company providing financial consulting and corporate services to small and medium-sized businesses, has seen an increase of 3.11% in share price during the premarket trading session. As a result that, GRNQ stock now stands at $0.98. In Friday’s trading session, GRNQ stock gained a 3.66% increase in its share price, and hence, stood at $0.95.

    MoU signed with Silkwave Holdings

    On 20th of August, GRNQ stock gained an increase of 16.32% as a result of the company’s announcement that its incubator company, Angkasa-X, had signed a Memorandum of Understanding (MoU) with the world’s first satellite direct-to-mobile (DTM) multimedia broadcaster Silkwave Holdings. Both parties agreed according to MoU that they would become partners in a joint venture, carried out to develop a GEO-LEO integrated satellite Network and services platform.  The partnership is meant to broaden the internet connectivity ASEAN region, via providing integrated satellite services. According to the partnership, a space technology ecosystem had to be established in the region of Penang, Malaysia. Bank of Asia was appointed by both parties as the financial advisor for the project, to raise the funding for the initiative.

    GRNQ to distribute shares of common stock

    On the 17th of August, GRNQ announced that it would distribute 6.6 million shares of common stock of SEATECH Ventures Corp., a company particularly helping out ASEAN based companies to mark their presence on a global scale, to GRNQ’s shareholders of record on August 31, 2021. The most recent closing price of SEATECH was $2.08, and that depicted a dividend value of $13.7 million to the shareholders of GRNQ.  In total, the company owns 10 million of the shares of SEATECH. CEO GRNQ Mr. CK Lee said on the occasion that the company was planning to obtain more dividends from other companies, which GRNQ was attempting to incubate, in the future.

    GRNQ CEO’s interview

    On the 10th of August, CEO of GRNQ, Mr. CK Lee said that he plans of making the Digital Asset Exchange platform CryptoSX to be among the leading STO Exchange before the end of 2021. He said that during an interview with the financial news platform. Mr. Lee highlighted that CryptoSX would lead GRNQ to enter into a new era of digital financing, and a gradual transformation in that regard is inevitable. CryptoSX is the flagship of GreenPro’s New Digital Finance Ecosystem and was initiated in 2018. It’s among one of the leading Security Token Exchanges existing in Asia. Mr. Lee hoped that under the new arrangements introduced by the company, CryptoSX and GreenPro would synergize, and that would lead to the creation of a revolutionary digital asset market.

    What lies ahead for GRNQ?

    Based on the current statistics, it could be said with confidence that GRNQ stock is among the best stocks to invest in in near future. The innovative strategies adopted by the company’s leadership are greatly compatible with the investors’ interest in innovative companies. So, potential investors should keenly observe the fluctuations of GRNQ stock.