STOCKS TELEGRAPH

Author: Shan Zee

  • Kaspien (KSPN) Gained 20% on Thursday As It Achieved $1 Billion In Lifetime Revenue

    Kaspien (KSPN) Gained 20% on Thursday As It Achieved $1 Billion In Lifetime Revenue

    Shares of digital marketplaces software and services provider Kaspien Holdings Inc. (KSPN) rose by +20.14% on Thursday to $28.00 at the ring of the bell. The surge came on the heel of achieving a mark of one billion in revenues.

    This week, Kaspien marked its billionth dollar in e-commerce marketplace revenue. Kaspien has seen increases in net sales, gross merchandise value (GMV), and gross profit during the growth of e-commerce shopping in 2020.

    Founded in 2008, Kaspien offers a growing suite of software and services to help brand owners sell on popular online marketplaces like Amazon, Walmart, eBay, Google Shopping, and Target.

    One billion in lifetime sales is a major achievement in the company’s history, said Brock Kowalchuk, Chief Financial Officer of Kaspien Inc. The one billion sales mark symbolizes the willingness of management to thrive as one of the business sector’s original third-party retailers. As the industry continues to evolve, not only has the company remained committed, but it has also developed a flexible marketplace that addresses a real need for retailers looking to leverage and expand on internet platforms.

    The company also shared significant highlights it has achieved in the past year which includes rebranding of parent company from Trans World Entertainment to Kaspien Holdings Inc.; appointed Kunal Chopra as CEO of the rebranded business; moved its corporate headquarters to Spokane Valley, Washington that was previously located in Albany, New York; generated 36% more net revenue the third quarter of 2020 from the corresponding quarter a year ago; and posted an increase of 127% in Q3 2020 GMV compared to that in prior year helped by subscription business surge.

    Moreover, a letter dated Jan 22, 2021, from the Listing Qualifications Staff of The Nasdaq Stock Market received by Kaspien confirmed that the company has regained compliance with the continued listing criteria. Kaspien Holdings Inc. (KSPN) achieved conformity after its market cap remained more than $35 million for 10 consecutive days during the month, which currently stands at about $75 million.

  • Early Morning Vibes: 4 Growth Stocks to Watch Right Now

    Early Morning Vibes: 4 Growth Stocks to Watch Right Now

    On January 28, American stock markets closed in the green zone. The S&P 500 index rose 0.98% to 3787 points, the NASDAQ gained 0.50%, the Dow Jones rose 0.99%. The rebound after the sale on the eve was caused by technical factors, as well as the publication of mostly positive macro statistics. All 11 sectors finished the session in positive territory. The finance sector showed outstripping growth by 1.92% due to the increase in the quotations of shares of payment systems and banks.

    Company news

    Comcast (CMCSA: + 6.6%) posted strong quarterly results thanks to continued strong demand for home internet. Some amusement parks have reached break-even points.

    MasterCard (MA: + 2.8%) quarterly EPS came in better than expected on a solid recovery in US earnings.

    Tesla’s revenue (TSLA: -3.3%) beat consensus expectations, but gross margin declined. The company’s forecast for the supply of electric vehicles in 2021 was weaker than analysts had predicted.

    Today world stock markets are showing negative dynamics. In the real economy, the news background remains calm, however, short squeezes in individual stocks continue to attract attention, causing concern among professional market participants.

    Risk appetite is highly variable. On the one hand, quarterly corporate results are mostly stronger than expected. Many support factors, including fiscal and monetary policy, an improvement in the epidemiological situation in the world, the emergence of new vaccines, remain relevant. In particular, Novavax today published positive test results for its drug.

    At the same time, hedge funds lock in positions to cover losses on short positions. In addition, market participants are avoiding risk by observing excess volatility and cautiously comparing the current situation to the stock market bubble before the dotcom crash. A significant risk is the spread of mutations in the coronavirus. The Novavax vaccine is only 49% effective against its South African strain. Thus, the market equilibrium appears to be fragile, so investors should be careful.

    The Freedom Finance Sentiment Index dropped to 68 out of 100. The indicator reflects the hope of market participants for a recovery in the global economy in 2021. Concerns about the negative impact of the coronavirus pandemic are gradually diminishing thanks to the prospects for mass vaccinations.

    Technical picture

    Technically, the S&P 500 is prone to an upward movement in the medium term. Nevertheless, the short-term correction may continue, as the MACD indicator is in negative territory. Significant support is located at 3710 points, where the 50-day moving average lies. The medium-term outlook for the S&P 500 will worsen if it falls below 3630 points.

    Today Top Movers‎

    LM Funding America Inc (LMFA), a specialty finance company, soared about 86.67% ‎at $2.79 in pre-market ‎trading Friday.‎‎ The company declared the closing of a $103.5 million upsized initial public offering.

    ‎Genius Brands International Inc (GNUS) share price jumped 16.75% to $2.30 during early morning ‎trading session on ‎Friday.‎‎

    ‎Monopar Therapeutics Inc (MNPR) stock ascended 9.17% at $9.29 in the pre-‎market trading today.‎‎

    ‎Sundial Growers Inc (SNDL) gained over 14.34% at $0.94 in pre-market ‎trading on Friday.‎‎

    Top Upgrades & Downgrades

    Wells Fargo turned bullish on Alliance Data Systems Corporation (ADS), upgrading the stock to “Equal-Weight” and assigning a $75 price target, representing a potential upside of 5.94% from Thursday’s close.

    SLM Corporation (SLM) has won the favor of RBC Capital’s equity research team. The firm upgraded the shares from Sector Perform to Outperform and moved their price target to $20, suggesting a 43.57% additional upside for the stock.

    Capri Holdings Limited (CPRI) received an upgrade from analysts at Baird, who also set their one-year price target on the stock to $58. They changed their rating on CPRI to Outperform from Neutral in a recently issued research note.

    Earlier Friday Jefferies reduced its rating on Golar LNG Partners LP (GMLP) stock to Hold from Buy and assigned the price target to $3.5. With shares trading at around $3.42, the Wall Street firm thinks Golar LNG Partners LP’s stock could add 2.34%.

    Jefferies analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Safe Bulkers Inc. (SB) has been changed to Hold from Buy and the new price target is set at $1.8.

    Analysts at Morgan Stanley downgraded DXC Technology Co (DXC)’s stock to Equal Weight from Overweight Friday.

    Latest Insider Activity

    The Macerich Company (MAC) 10% Owner ONTARIO TEACHERS PENSION PLAN announced the sale of shares taking place on Jan 27 at $20.25 for some 24,562,964 shares. The total came to more than $497.37 million.

    Houston American Energy Corp. (HUSA) Director SCHOONOVER JAMES A sold on Jan 26 a total of 142,976 shares at $2.63 on average. The insider’s sale generated proceeds of almost $43960.

    Jefferies Financial Group Inc. (JEF) 10% Owner Jefferies Financial Group Inc. declared the purchase of shares taking place on Jan 12 at $10.00 for some 250,000 shares. The transaction amount was around $2.5 million.

    Alcoa Corporation (AA) Director Nevels James E bought on Jan 27 a total of 32,336 shares at $17.50 on average. The purchase cost the insider an estimated $7,000.

    Important Earnings

    Top US earnings releases scheduled for today include Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.21 per share from revenues of $7.75B in the three-month period.

    Analysts expect Synchrony Financial (NYSE:SYF) to report a net income (adjusted) of $0.91 per share, when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $3.55B.

    Chevron Corporation (CVX), due to announce earnings before the market opens today, is expected to report earnings of $0.07 per share from revenues of $26.2B recently concluded three-month period.

  • Best Media Companies that you cannot ignore in 2021

    Best Media Companies that you cannot ignore in 2021

    Media is creating a huge impact in our lives as well as in business. Everyone is spending 8 to10 hours per day interacting with media in one form or another. Media companies produce and promote their content to make money from our consumption. Media giants compete with one another to maintain their existence in this advanced era. Some of the media giants that may outperform in 2021 are discussed below.

    Cable One, Inc. (CABO)

    Cable One, Inc. (CABO) is a broadband communication provider that provides data, video, and voice services to more than 950,000 residential and business customers in the United States. The company entertains consumers with a wide array of connectivity and entertainment services involving high-speed internet and advanced Wi-Fi solution, cable television, and phone service.

    The company generated $339 million in the 3rd quarter of 2020 which is significantly higher than $285 million in the 3rd quarter of 2019. Analysts are expecting that Cable One will announce its sales revenue ranging from $1.32 billion to $1.34 billion for the current fiscal year. For the next fiscal year, it is expected that sales might be between $1.36 to $1.41 billion.

    The company’s overall progress seems good as it has grown both its revenue and profit over the last few years, but it has diluted shareholders by expanding its no of shares on issue by 5.5% over the last year which has created an impact on its earning per share. So it is important to keep an eye on its EPS which will decide the fate of its shareholders.

    Comcast Corporation (CMCSA)

    Comcast Corporation (CMCSA) is one of the biggest media and technology company that operates via cable communication, cable networks, broadcast television, Filmed Entertainment, Theme Parks, and Sky segments. The company has announced its fiscal fourth-quarter report on Thursday the results of which surpass the expectations of analysts.

    The company generated $27.71 billion revenue in the fourth quarter that is more than $26.78 billion expected by the Refinitiv survey of analysis with a rise of 6.9% in its net profit.538,000 high-speed internet customers were added as compared to 490,000 expected in the FactSet Survey. The company’s agreement to stream wrestling matches and the recent launch of “The Office” resulted in 33 million sign-ups in NBCUniversal’s Peacock which is far more than 22 million in the last quarter.

    Growth in net profit owes to the company’s broadband business but its movie and theme-park units suffered a lot due to the coronavirus pandemic. Theme-park revenue decreased 63% to $579 million and filmed entertainment division suffered an 8.3% drop in revenue to $1.43 billion.

    The company is optimistic to produce better results in 2021 as the rollout of vaccines will rebound its affected business areas.

    Netflix, Inc. (NFLX)

    Netflix Inc. (NFLX) is an American media service provider company that offers T.V series, documentaries, and feature films to its subscribers via a host of internet-connected screens. The company’s network is extended to 190 countries with roughly 200 million paid subscribers.

    Netflix has incredibly attracted the audience over the last few years through its engaging feature films, T.V series, and adult animated content. The company is also investing an enormous amount into children’s programming and animated films. The media company outperformed in the 4th quarter of 2020 and added more than 8.5 million subscribers to the list with increasing subscription prices.

    The company is playing smartly to wean itself from debt and to use its internally generated cash flow of $8.2 billion for future growth. Furthermore, the company’s management is taking an interest in share buyback which Netflix has not done in a decade. The current circumstances show that Netflix can be more profitable in the future due to a good cash flow in hand, faster rate of subscriptions and less relying on external finance for future growth.

  • Shoe Carnival (SCVL) Shares Are Rising Ahead Of Quarterly Results

    Shoe Carnival (SCVL) Shares Are Rising Ahead Of Quarterly Results

    With 7 days remaining to its next earnings and a rise of 10.23% over the past week, shares of the moderately priced footwear and accessories retailer Shoe Carnival Inc. (SCVL) have been trending upward. SCVL stock has added $0.97 or 2.09% in mid-session today reaching $47.31.

    Shoe Carnival ranks among the biggest sellers of family footwear in the United States. It provides a wide selection of relatively affordable sports, dress and casual footwear for people of all ages with a focus on national popular brands. The business has 383 stores in 35 states and Puerto Rico as of December 17, 2020, and provides online purchasing facility on its website.

    The Evansville, Ind.-based company this month paid its shareholders with a dividend of $0.09. Dividend that was paid on January 8, was initially announced to be paid by January 25, 2021 and came up with a dividend yield of 0.98% to the price levels at the time.

    Last month, the company announced its Board of Directors’ authorization, effective January 1, 2021, of a new share repurchase scheme for up to $50 million of its outstanding common stock. The new share repurchase program came replacing the company previous $50 million share repurchase program approved by the BOD a year earlier and was to be expired on 31 December 2020 in compliance with its terms. Under the new equity repurchase scheme, the actual amount approved for making repurchases was $43.1 million with a condition of making further purchases prior to the expiry under the current equity repurchase program.

    However, considering the uncertainties surrounding the COVID-19 pandemic, Shoe Carnival Inc. (SCVL) was not intending to repurchase any new stock under the existing repurchase program. At the time, the company planned to keep tracking the effects of the deadly virus on its business and to be vigilant with the buyback of shares under the newly approved program when more information on the efficacy of the COVID-19 spread management mechanisms becomes clear and was analyzed.

  • Impac Mortgage (IMH): The Bullish Trend Persists Before Earnings

    Impac Mortgage (IMH): The Bullish Trend Persists Before Earnings

    The U.S. residential mortgage lender Impac Mortgage Holdings Inc. (IMH) continued the rally for the last five sessions gaining 20.29% while jumping from $2.76 on January 20 to $3.32 on January 27. Yesterday’s gain alone was nearly 12% and the stock is also rising in today’s session.

    Impac Mortgage is a provider in the United States of advanced lending practices and property investment initiatives that deal with the challenges of the financial world these days. The functions of Impac include mortgage loans, management, reduction of potential to cause loss, and property management, as well as the maintenance of the long-term collateralized mortgage portfolio, including remaining securitized interests.

    IMH stock has been showing a bullish momentum with company set to announce its next earnings for the final quarter of 2020 in 2 weeks.

    The company posted net earnings for the third quarter of 2020 of $1.6 million, or $0.08 per diluted common share, in comparison to net income of $1.4 million, or $0.07 per diluted common share in the same quarter a year ago.

    Core earnings of $4.4 million for the third quarter of 2020, or $0.21 per diluted common share, came below that of $7.9 million or $0.37 per diluted common share in the corresponding quarter year earlier.

    The results of Q3 2020 were not spectacular because the consequences of the pandemic, which inevitably led to a temporary cessation of its lending operations during the second quarter, weighed heavily on them. At the time company said that it conducted a range of measures during the second quarter to significantly minimize debt and boost profitability. But the company remained unsuccessful to revive lending operations until June 2020, resulting in a tough commitment. As a result of the exceptionally low-interest rate climate, not only for the company as we re-engage in lending but even around the industry, competitiveness has continued to be a limiting factor.

    Impac Mortgage Holdings Inc. (IMH) was rallying at $3.43 as of 10:44 a.m. EST, gaining +3.32% so far today.

  • Coda Octopus (CODA): Falling Today Despite Yesterday’s Rally

    Shares of real-time subsea intelligence and 3D sonar technology provider Coda Octopus Group Inc. (CODA) have been declining -5.65% today pre-market. The dip came following a rise of more than 10% yesterday and the release of audited financial results by the company today for its fiscal year ended October 31, 2020.

    Established in 1994, Coda Octopus is a developer, manufacturer, and seller of products and solutions for the underwater/subsea market. Those include real-time volumetric imaging sonars patented to it. Within its product line, CODA markets volumetric imaging sonars under Echoscope and Echoscope PIPE brands. A number of applications worldwide use Coda’s advanced sonars for 3D, 4D, 5D, and 6D real-time imaging. Among those are marine and port construction, defense, port, and port security, and installation and surveys of renewable and oil and gas subsea infrastructures. Moreover, through its Coda Octopus Martech and Coda Octopus Colmek, the company is also involved in the manufacturing of defense products and the provision of engineering solutions outside of the Marine Technology business.

    For the fiscal year ended October 31, 2020, CODA’s revenue fell by 20% to $20.043 million compare to revenue of $25.057 million in the prior fiscal year. EBIT dropped by 45.5% to nearly $3.402 million for the reported period, which previously was $6.233 million. However, the difference reduced to a decline of 36.0% for net income after taxes which came at $3.344 million against that of $5.225 million a year ago. The impact of the coronavirus pandemic resulted in the reduction of the company’s revenues and profitability.

    Non diluted earnings came at $0.31 per share against the same of $0.49 in the last fiscal year, whereas on a diluted basis, earnings were $0.30 per share in comparison to the previous year EPS of $0.49.

    The stock seems to be the profit taking victim as it was buoying at a fall of -3.83% at last check in early trading today priced at $6.41.

  • EVI Industries Inc. (EVI) Stock Jacked Up Nearly 6% On Wednesday

    EVI Industries Inc. (EVI) Stock Jacked Up Nearly 6% On Wednesday

    In a market again on the defensive, EVI Industries Inc. (EVI) stands out with a gain of 5.78% to $33.15. The commercial laundry equipment specialist recently announced that its acquisition of Taunton, MA’s Eastern Laundry Systems was completed on January 15, 2021.

     Eastern Laundry Systems distributes commercial and vending laundry products and offers installation and maintenance service for these products.

    This purchase is associated with EVI’s long-term development strategy, which involves purchasing and developing quality companies through the inclusion of highly skilled sales specialists who can boost profitability and long-term sustainability along with a wider product range and better deployment and service capability.

    Henry M. Nahmad, Chairman and CEO of EVI, welcomed David Cabral and his Eastern Laundry Systems team upon becoming the part of EVI Family. Another important step in creating a world-class delivery and support business in the commercial laundry market is this 16th addition to our increasing network.

    Through its comprehensive distribution organization, commercial, industrial, and promoted washing, dry cleaning and material handling machinery, steam and hot water boilers, water reuse and filtration devices, chemical supplies and associated spare parts and accessories, EVI Industries, through its wholly-owned subsidiaries, operates as a distributor generating revenue through sales, lease or rental operating.

    In its most recent reported quarter, the company posted record revenues and significant debt reduction amid the adversaries of the business situation arises from the Covid. The organization reported a record revenue of $58 million for the fiscal first quarter of 2021, representing a 4.0 percent rise over the same duration of the preceding financial year and an increase of nearly 6 percent in consecutive quarters.

    The Company had $14.6 million in net debt at September 30, 2020. That illustrated a net debt repayment of $3.3 million, or 18 percent, comparative to June 30, 2020. For the quarter ended September 30, 2020, the improvement of the company’s balance sheet was driven by $4.3 million of operating cash flow.

  • Early Morning Vibes: Watch These 4 Stocks Today

    Early Morning Vibes: Watch These 4 Stocks Today

    A concern about possible problems with the spread of coronavirus vaccines led to one of the largest one-day losses since October for US stocks on Wednesday. A large volume of short positions was also opened for GameStop and other securities due to sharp fluctuations.

    A battle erupted between day traders seeking to invest in GameStop and hedge funds that are actively shorting the company, sending GameStop shares soaring 135%. AMC Entertainment, another target for intraday traders, rose 301%. The shares of both companies in January grew by more than 800%.

    The Dow Jones Industrial Average fell 633.87 points, or 2.1%, to 30303.17 points, falling for the fifth session in a row, and the S&P 500 sank 98.85 points, or 2.6%, to 3750. 77 points, while the Nasdaq Composite fell 355.47 points, or 2.6%, to 13.270.60 points. All three indices saw their biggest one-day falls since October 28.

    In response to the spread of new strains of Covid-19 around the globe, governments are being forced to vaccinate the population as soon as possible, since any delays could lead to the lifting of lockdowns and other quarantine restrictions

    AstraZeneca has announced a sharp decline in vaccine supplies to the European Union due to problems at its European factory. A shortage of vaccines could adversely affect the vaccination process in the UK, as EU authorities begin to push the company to acquire vaccines produced by British factories.

    During the same day, President Joe Biden announced he would purchase more vaccine doses that should be enough to supply the vaccine for most US residents.

    In the afternoon, investors analyzed the financial results of AT&T, Blackstone, and Boeing. After that, tech giants Apple, Facebook, and Tesla reported on their results.

    Today Top Movers

    ‎Naked Brand Group Ltd (NAKD) stock ascended 67.39% at $2.31 in the pre-market trading today.‎ The company recently declared pricing of $50 million registered direct offering priced at-the-market.‎‎ ‎‎

    ‎XpresSpa Group Inc (XSPA) grew over 30.13% at $3.11 in pre-market trading ‎today following an announcement from the company that it plans on opening new XpresCheck facilities, offering more opportunities for in-airport COVID-19 testing.‎‎ ‎‎

    ‎Sundial Growers Inc (SNDL) stock moved up 38.15 percent to $0.83 in the pre-market ‎trading.‎‎‎ ‎‎

    ‎American Battery Metals Corp (ABML) was up more than 7.11% at $3.64 in the extended-hours session.‎‎

    Top Upgrades & Downgrades

    RBC Capital turned bullish on PTC Inc. (PTC), upgrading the stock to “Outperform” and assigning a $145.0 price target, representing a potential upside of 20% from Wednesday’s close. 

    Twitter Inc. (TWTR) has won the favor of KeyBanc’s equity research team. The firm upgraded the shares from Sector Weight to Overweight and moved their price target to $65.0, suggesting 35.08% additional upside for the stock. 

    Brinker International Inc. (EAT) received an upgrade from analysts at KeyBanc, who also set their one-year price target on the stock to $64.0. They changed their rating on EAT to Overweight from Sector Weight in a recently issued research note.

    Earlier Thursday JMP Securities reduced its rating on Tesla Inc. (TSLA) stock to Market Perform from Outperform. 

    Stifel analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for The Procter & Gamble Company (PG) has been changed to Hold from Buy. 

    Analysts at Stifel downgraded Colgate-Palmolive Company (CL)’s stock to Hold from Buy Thursday.

    Latest Insider Activity

    The Walt Disney Company (DIS) SEVP-Chief Financial Officer McCarthy Christine M announced the sale of shares taking place on Jan 25 at $172.00 for some 25,000 shares. The total came to more than $4.3 million. 

    iRobot Corporation (IRBT) Chief Executive Officer Angle Colin M sold on Jan 25 a total of 302,208 shares at $104.88 on average. The insider’s sale generated proceeds of almost $3.78 million. 

    Fastenal Company (FAST) Director Ancius Michael J declared the purchase of shares taking place on Jan 25 at $47.50 for some 770 shares. The transaction amount was around $36575.0. 

    FuelCell Energy Inc. (FCEL) CEO Few Jason bought on Jan 25 a total 22,134 shares at $17.99 on average. The purchase cost the insider an estimated $197,890.

    Important Earnings

    Top US earnings releases scheduled for today include American Airlines Group Inc. (NASDAQ: AAL). It will announce its Dec 2020 financial results. The company is expected to report earnings of -$4.11 per share from revenues of $3.88B in the three-month period. 

    Analysts expect Comcast Corporation (NASDAQ: CMCSA) to report a net income (adjusted) of $0.48 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $26.78B. 

    United States Steel Corporation (X), due to announce earnings after the market closes today, is expected to report earnings of -$0.68 per share from revenues of $2.58B recently concluded three-month period.

  • The Best 3 Food Delivery Stocks for long-term Investment

    The Best 3 Food Delivery Stocks for long-term Investment

    The future belongs to the digital tech—with the food delivery stocks being a major stakeholder in it.

    The pandemic has accelerated the online industry in almost every sector. The demand for food delivery services has increased significantly during the last year. The food delivery firm’s growth has been phenomenal during the pandemic period—with the increase in stay-at-home trade.

    The future world of digital technology has climbed miles—with COVID becoming a major catalyst to its growth. With people spending most of their time inside their homes, the food craving has driven the demand for food delivery companies.

    But there is an argument that the food delivery trend already on a hike even before the pandemic. This was due to the widespread digitalization and increased urban population. However, the COVID-19 epidemic has played a significant role to continue this hike in the rising food delivery trend.

    Though food delivery stocks can be risky—having massive potential in the long-term. Here are the three best food delivery stocks to invest in for the long-term.

    Beyond Meat (BYND)

    Beyond Meat (BYND) is a Los Angeles-based producer of plant-based meat substitutes. The company has seen notable growth with the increasing demand for meat substitutes. The company sells its product in the U.S. and internationally, through mass merchandisers, grocery, natural retailer channels, club and convenience stores, restaurants, schools, direct to consumer, and food service outlets.

    In Benzinga’s recent survey, a question was asked from investors — would BYND stock reach $250 per share by the end of 2022? — 68% of the respondents said the BYND would reach $250.

    Furthermore, to push things to a greater level, the company just collaborated with Pepsi to develop plant-based snacks and beverages. Both the enterprises with joint venture to form The PLANeT Partnership, LLC. The joint venture will work on the development, production, and marketing of innovative snack and beverage products made from plant-based proteins.

    So, Beyond Meat (BYND) is shaping up to be the future firm that will rule this segment in the digital world. The potential is there and in the long-term, BYND stock will increase its market value and shares price.

    Blue Apron (APRN)

    Blue Apron (APRN) is a holding firm that works through its subsidiaries that have a formidable market place in meal-kit delivery services. The company has seen a massive boost in new business rocketed by the pandemic. 

    In the second quarter of 2020, the company added more than 20,000 customers and its net revenue increased by approximately 10%. The company continues to speed up its growth in the next quarter. In Q3 2020, the net revenues increased 13% year-over-year to $112.3 million. Whereas, the order per customer soared 20% to 5.4 and the Average Order Value grew 2% to approximately $59.

    Many big firms would be eyeing Blue Apron (APRN) and if it gets acquired, it would make more sense to invest in the unmoving industry stock. So, APRN stock is one for the future—a long-term gun.

    Grubhub (GRUB)

    Grubhub (GRUB) is an American online and mobile prepared food delivery service that connects diners with local restaurants. A major turnaround for Grubhub is set to happen later this year.

    Back on June 10, 2020, Grubhub entered into a merger agreement with Just Eat Takeaway.com. The Holland-based Takeaway.com will acquire Grubhub in an all-share combination later this year. This acquisition of Grubhub will certainly expand the ecosystem of the company and support its growth in the market.

    According to Zacks, Grubhub is one of those firms that will largely benefit from the reopening of economies and lifting of the travel bans.

    Recently, the company collaborated with Lear Corporation’sXevo software business. This partnership will deliver safer, contactless food ordering capabilities in FCA vehicles through an app on the Uconnect Market. This deal will also driveGrubhub to a larger user base via Uconnect Market.

    So, moving forward, Grubhub (GRUB) is one of the potential food delivery stocks to watch for the long-term investment. If the acquisition of an online delivery platform turns out to be perfect, things will get bigger in the next few years.

  • Edesa Biotech (EDSA) Stock Losing Today After A Significant Rally In Previous Session

    Edesa Biotech (EDSA) Stock Losing Today After A Significant Rally In Previous Session

    The clinical-stage biopharmaceutical company Edesa Biotech, Inc. (EDSA) has lost -14.71% to $6.38 in the early hours of the trading. The investors today are seemed to be profit taking as the stock surged +35.26% to $7.48 in Tuesday session, helped by an FDA approval for its investigational drug around Acute Respiratory Distress Syndrome (ARDS).

    So what’s just happening?

    A sub-study to EDSA’s ongoing Phase 2/Phase 3 clinical study of its investigational drug, EB05, was approved by the U.S. Food and Drug Administration (FDA) as well as Health Canada. ADRS, the leading cause of death among patients with COVID-19, will be treated with the new drug. The sub-study will evaluate the drug for critically severe COVID-19 cases as a potential rescue therapy.

    The focus of the company was to develop innovative treatments for inflammatory and immune-related diseases with clear medical needs that were not met. In later stage clinical studies, the company’s two lead product candidates, EB05 and EB01, are. EB05 is a monoclonal antibody therapy developed by the company as a treatment for ARDS in patients with COVID-19, which is a life-threatening form of respiratory failure and the leading cause of death among patients with COVID-19. As a topical treatment for chronic allergic contact dermatitis (ACD), a common, potentially debilitating condition and occupational disease, Edesa is also developing a sPLA2 inhibitor, designated as EB01.

    The company’s Chief Executive Officer, Dr. Par Nijhawan, said that COVID-19 patients identified by physicians involved in Edesa’s ARDS study were too ill to be considered for the main study, but could benefit from the experimental treatment.

    Nijhawan said the EB05 would be applied to critically ill patients with deep, medically irreversible respiratory failure caused by COVID-19 in this sub-study.

    The Edesa sub-study will include up to 100 patients with severe COVID-19 symptoms, including those who received extracorporeal membrane oxygenation (ECMO) for five or more days.

    Conclusion:

    The success of Edesa Biotech, Inc.’s (EDSA) that study could be a driving force for growth as the Covid-19 or related issues are likely to be remain for some more time. But, the profit taking is just happening causing the stock to lose a larger portion of the yesterday’s gain.