STOCKS TELEGRAPH

Author: Shariq Khan

  • Backblaze, Inc. (BLZE) stock declined in the after-hours; here is why?

    Backblaze, Inc. (BLZE) declined in the after-hours market after announcing its fourth quarter and fiscal 2021 results. BLZE values at $9.89, losing more than 28% compared to yesterday’s closing price. The stock closed at $13.87 at the end of the last trading session. The stock volume traded in the last trading session was around 133.41K shares. The current market cap of the company is around $299.67 million.

    BLZE: Key Financials

    • Backblaze, Inc. (BLZE) revenue in Q4 2021 was $18.7 million. It is a gain of more than 28% compared to the revenue of Q4 in 2020.
    • Fiscal year revenue was $67.5 million, and it is an increase of more than 25% compared to the revenue in fiscal 2020.
    • The company’s net loss in Q4 2021 was around $9.6 million. The net loss in Q4 2020 was around $3.4 million.
    • BLZE net loss in fiscal 2021 was around $21.7 million. Net loss in fiscal 2020 was around $6.6 million.
    • The Q4 2021 loss per share was $0.38. Loss per share in Q4 2020 was around $0.18.
    • For fiscal 2021, the loss per share was $1.07. Loss per share in fiscal 2020 was around $0.36.

    BLZE CEO’s Remarks

    Gleb Budman, CEO of Backblaze, said that in Q4, our B2 Cloud Storage service grew by 56%, while our Computer Backup service grew by 16%. In order to take advantage of our enormous market potential, our Q4 growth rate has accelerated.

    Aiming to become the top independent cloud for data storage, we think 2022 will be a crucial year. To capitalize on significant B2 Cloud Storage growth possibilities, we are expanding our outbound sales staff, launching our first major advertising campaign, and developing developer evangelism and partner marketing teams.

    BLZE 2022 Outlook

    Backblaze, Inc. (BLZE) predicts revenue of between $19.0 million and $19.5 million for the first quarter of 2022. In the range of -20% to -16% for adjusted EBITDA margin. They expect a total of 30.5 million to 31.0 million common shares in circulation.

    Backblaze, Inc. (BLZE) anticipates revenue of between $83 million and $86 million for the whole year 2022. They also expect adjusted EBITDA margins of -18% to -14% in fiscal 2022.

    Conclusion

    The company is currently growing. That is why they are focusing on revenue to grab market share. Such a growth strategy focuses on revenue growth first. Profitability is the second phase of such strategies.

  • Atara Biotherapeutics, Inc. (ATRA) stock plunged in the after-hours; here is why?

    Atara Biotherapeutics, Inc. (ATRA) declined in the after-hours market after announcing that Memorial Sloan Kettering Cancer Center (MSK) notified the FDA of a patient’s death in an ongoing study. ATRA is now at $12.12, down about 4% from yesterday’s close. At the closing of the previous trading on Friday, the stock price was $13.68. Approximately 834.75K shares were exchanged in the most recent trading session. The current market cap of the company is around $1.16 billion.

    ATRA new update on the trials

    Atara Biotherapeutics, Inc. (ATRA) said today that Memorial Sloan Kettering Cancer Center (MSK) notified the FDA of a patient’s death in an ongoing study. The fatal SAE occurred in a patient receiving autologous mesothelin CAR T, ATA2271, in Phase 1 MSK-led research. Prior to additional data collection and analysis, MSK has halted fresh patient enrolment in the research. The FDA has agreed to this strategy.

    Autologous CAR T-cell therapy targeting mesothelin is now a part of the testing in clinical studies in patients with malignant pleural mesothelioma. A patient with numerous cancers and other problems. The patient received treatment for advanced recurring mesothelioma. MSK has begun an additional investigation to determine how this incidence is related to ATA2271.

    Upcoming events

    In a press release issued on February 17, 2022, Atara Biotherapeutics, Inc. (ATRA) said it will reveal its fourth quarter and full-year 2021 financial results on Monday, February 28, 2022. There will be a conference call and webcast at 4:30 p.m. Eastern Time to discuss the results and offer an update for shareholders.

    Conclusion

    The negative result from the trials has seriously affected the stock of the price. Atara Biotherapeutics, Inc. (ATRA) has stopped the trials and will provide detail about the event. The company will have to provide concrete evidence to convince the FDA and its future customers about the treatment. The current adverse effect of the treatment could have a serious effect on its regulation.

  • Inspirato Incorporated (ISPO) stock declined in the after-hours; here is why?

    Inspirato Incorporated’s (ISPO) shares declined in the after-hours market after announcing its SPAC merger with Thayer Ventures. ISPO values at $46, losing more than 50% compared to yesterday’s closing price. The stock closed at $90.65 at the end of the last trading session after reaching an all-time high of $108. The trading stopped a number of times due to uncertain reasons throughout the trading session. The stock volume traded in the last trading session was around 603.71K shares. The current market cap of the company is around $991.88 million.

    ISPO SPAC merger with Thayer Ventures

    Thayer Ventures Acquisition Corporation and Inspirato LLC, the innovative luxury travel subscription provider, finalized their previously announced SPAC merger today (TVAC).

    Thayer shareholders approved the SPAC merger on February 8, and the merged company’s shares rose dramatically on February 14, when they first appeared on the market. The new name of the business is Inspirato Incorporated. Inspirato’s Class A common stock and warrants had begun trading on the Nasdaq Stock Market under the ticker symbols “ISPO” and “ISPOW” on Monday, February 14, 2022.

    ISPO CEO’s Remarks

    Inspirato’s co-founder and CEO, Brent Handler, said the firm is excited to enter the public market. Our patented next-generation travel subscription technology will enable us to advance our aim of transforming luxury travel. This would not have been possible without our devoted subscribers, investors, and staff, which have helped us develop into the unique premium brand we are today. They have all contributed to our success. Expanding our collection of luxury holiday alternatives and promoting the advantages of Inspirato to more and more people worldwide is our goal as a public business.

    Conclusion

    It had been a roller coaster ride for the company’s stock since it started publically trading. The stock lost 50% yesterday, but it gained more than 340% since its listed price. The value of the stock will settle in the upcoming weeks.

  • Zynex, Inc. (ZYXI) stock gained in the current market; here is why?

    Zynex, Inc. (ZYXI) stock gained in the current market; here is why?

    Zynex, Inc. (ZYXI) gained in the current market after announcing that they expect no revenue because of the united health care. ZYXI values at $6.73, gaining more than 9% compared to yesterday’s closing price. The stock closed at $6.16 at the end of the last trading session. The stock volume traded in the last trading session was around 342.30K shares. The current market cap of the company is around $274.30 million.

    ZYXI do not expect any significant change in revenue

    Medical technology business Zynex Inc. (ZYXI) replied to a brief article on United Health Care’s prescription coverage of non-invasive medical devices for pain treatment, rehabilitation, and patient monitoring today. Zynex does not expect the switch in United Health Care prescription coverage to significantly impact revenue.

    ZYXI CEO Remarks

    Thomas Sandgaard Changes in United Healthcare’s reimbursement scheme are not expected to significantly impact Zynex’s revenue in 2022. In reality, Zynex accepts all prescriptions and processes claims for all insurance providers. Our business strategy requires us to make our goods available to all patients; thus, becoming an out-of-network partner will have little effect on our bottom line. We are glad to offer NextWave a non-addictive pain remedy to our patients. The deal with United Healthcare was terminated mutually.

    ZYXI Upcoming Events

    Conference call and webcast will be held on February 24th at 2:15 pm MST/4:15 pm EDT to present fourth quarter and full-year 2021 results, as well as offer a corporate update for ZYXI shareholders.

    Conclusion

    ZYXI gained following the response to the article. The investors are responding positively and investing in its stock. The company will announce its financial results for the fourth quarter and fiscal 2021. The last quarter revenue of the company saw 73% growth, and net income was 358%, both compared to the same quarter of 2020. Investors expect the numbers to be high, just like the last reported quarter.

  • DraftKings Inc. (DKNG) stock declined in the current market; here is why? 

    DraftKings Inc. (DKNG) stock declined in the current market; here is why? 

    DraftKings Inc. (DKNG) declined in the current market after announcing its fourth quarter and fiscal 2021 results. DKNG values at $18.07, losing more than 18% compared to yesterday’s closing price. The stock closed at $22.06 at the end of the last trading session. The stock volume traded in the last trading session was around 27.56 million shares. The current market cap of the company is around $18.38 billion.

    DKNG: Q4 and Fiscal 2021 Key Financials

    • DraftKings Inc. (DKNG) revenue in Q4 2021 was $473 million. It is a gain of more than 47% compared to $322 million in Q4 2020. 
    • Fiscal year revenue was $1.2 billion, and it is an increase of more than 50% compared to the revenue of 614 million in fiscal 2020.
    • The company’s net loss in Q4 2021 was around $326 million. The net loss is more than compared to the net loss of $243 million in Q4 2020 
    • DKNG net loss in fiscal 2021 was around $1.5 billion, more than the net loss of $1.2 billion in fiscal 2020.
    • The Q4 2021 GAAP loss per share was $0.80.
    • For fiscal 2021, GAAP loss per share was $3.78.

    2022 Outlook

    Revenue projection for 2022 has been raised from $1.7 billion to $1.9 billion to $1.85 billion to $2.0 billion, representing a 43% to 54% year-over-year increase and a 7% rise from the midpoint of prior revenue guidance.

    DraftKings also released FY2022 Adjusted EBITDA projections. The company predicts an Adjusted EBITDA loss of $825-$925 million in 2022.

    DKNG CEO Remarks

    DraftKings’ outstanding fourth-quarter performance surpassed our expectations on both the top and bottom lines, according to co-founder, CEO, and Chairman of the Board, Jason Robins. Thanks to our state strategy and favorable perspective of the industry’s TAM, we had a fantastic quarter. We intend to increase our market share, improve the customer experience and further develop the range of products we provide as we go towards 2022.

    Conclusion

    The stock of the company declined after announcing the fiscal 2021 results. Despite the revenue growth, the net loss was the main factor due to which the stock plunged in the market. 

  • Nordic American Tankers Limited (NAT) gained in the Pre-market; here is why?

    After recently announcing two six-year time charters, Nordic American Tankers Limited (NAT) gained in the pre-market. NAT values at $1.59, gaining more than 2% compared to yesterday’s closing price. The stock closed at $1.57 at the end of the last trading session. The stock volume traded in the last trading session was around 2.46 million shares. The current market cap of the company is around $303.73 million.

    NAT announced two six-year Time charters

    NAT is gaining in the pre-market despite any significant development in the business or any sort of important news. However, last week the company announced two 6-year time charters.

    Nordic American Tankers Limited (NAT) announced in a press release on February 09, 2022, Nordic American Tankers Limited (NAT) announced that two six-year Time Charters had been completed for our two Suezmax new buildings delivered in May and June 2022.

    Their delivery from the South Korean shipyard, ASYAD Shipping Company, will kick off the contracts. NAT currently has 23 ships in its fleet after selling two recently.

    The agreed time charter rates will provide a steady cash stream for the next six years, totaling over USD 100 million. After operating expenditures, cash flow from these contracts will exceed 60% of the initial vessel price.

    NAT CEO Dr. Ibrahim Al Nadhairi remarks

    The contracts are with a reputable New York Stock Exchange-listed business, NAT. More projects between our firms may establish in the future. It is a further extension of ASYAD Shipping’s crude transportation operations. This strategic union will help Asyad maintain its top spot in shipping and logistics. It would also help Oman become a global logistics center by enhancing its operational skills.

    Conclusion

    The company’s stock gained in the pre-market despite any sort of important news. We can assume the link to its recently announced time charters. They expect that the new charters will bring $100 million in revenue in the upcoming six years. Investors are responding positively to the significant development in the business due to which the stock is surging in pre-market today. The company will soon announce its fourth quarter and fiscal 2021 results.

  • Global-E Online Ltd. (GLBE) stock surged in the current market; here is why?

    Global-E Online Ltd. (GLBE) stock surged in the current market; here is why?

    Global-E Online Ltd. (GLBE) gained in the current market after announcing its fourth quarter and fiscal 2021 results. GLBE values at $44.90, gaining more than 21.63% compared to yesterday’s closing price. The stock closed at $36.91 at the end of the last trading session. The stock volume traded in the last trading session was around 1.75 million shares. The current market cap of the company is around $5.38 billion.

    GLBE: Q4 and Fiscal 2021 Key Financials

    • Global-E Online Ltd. (GLBE) revenue in Q4 2021 was $82.7 million. It is a gain of more than 66% compared to the revenue of Q4 in 2020.
    • In the fourth quarter, GMV was around $505 million.
    • Fiscal year revenue was $245.3 million, and it is an increase of more than 87% compared to the revenue in fiscal 2020.
    • The company’s net loss in Q4 2021 was around $22.5 million. The company announced a net income of $4.3 million in Q4 2020
    • GLBE net loss in fiscal 2021 was around $74.9 million. Last year the net income was around $3.9 million.

    GLBE 2022 Outlook 

    GLBE expects to have a GMV of $446-$456 million in the first quarter of 2022, with revenue of $74.5-$76.5. The company expects a GMV of $2.445 to $$2.495 billion with revenue between $411 to $421 million in fiscal 2022.

    GLBE Founder and CEO remarks 

    With the fourth quarter’s revenue of $82.7 million and full-year revenue of $245.3 million, Global-founder E’s and CEO Amir Schlachet said that the company completed the year with its single most potent quarter in its history, pursuing its stable pattern of providing growth and strong execution. In 2021, the company was expected to grow at a steady pace of about 80% while also increasing its gross margin.

    Conclusion

    The company currently stands at reporting the most revenue-generating quarter in the company’s history. GLBE is amongst the best candidate for investors looking for a growth stock. Achieving high top-line growth while utilizing economies of scale and maintaining cash flow is the company’s goal. This is reflected in their 2022 projection, which anticipates 70% top-line growth.

  • Smart for Life, Inc. Common Stock (SMFL) declined in the Pre-market; here is why?

    Smart for Life, Inc. Common Stock (SMFL) declined in the Pre-market; here is why?

    Smart for Life, Inc. Common Stock (SMFL) declined in the pre-market after announcing a $14.4 million IPO. SMFL first-day trading price is set at $10 per share, but the stock declined in the pre-market valuing at around $2.52. The stock is 73% down from the initial price. The company plans to distribute approximately 1.8 million shares. To put this in perspective, the company might raise $19.8 million, which would put the company’s value at $226.2 million.

    SMFL IPO Announcement

    Smart for Life, Inc. Common Stock (SMFL) priced its IPO of 1,440,000 shares at $14.4 million before underwriting discounts, commissions, and other offering fees.

    Each unit comprises one share of common stock or one share of Series B convertible preferred stock as per the buyer’s wish. It is worth $7 per share and is valid until five years after the issue. Each unit contains one Series A warrant, which allows the owner to buy one share of common stock at that price. Series B warrants values at $10.00 each. They can be used until the fifth anniversary of the date they were given out, but there are some rules about when they can be used and how much they can be worth.

    The Securities and Exchange Commission (SEC) approved a registration statement on Form S-1 (File No. 333-261699) on February 14, 2022.

    Other developments

    The company will trade under the ticker symbol SMFL on NASDAQ. The company expects its stock to trade on the stock market around the midday trading session. A 45-day option to acquire up to 15% of additional units, minus underwriting discounts and commissions, has also been provided by the Company. Upon the completion of all criteria, the offering projects are to conclude on or around February 18, 2022.

    Conclusion

    The company stands at strong and growing financial numbers. The company’s revenue in 2020 was $5.6 million, and in the first nine months of 2021, which ended on September 31, 2021, its revenue was $4.79 million. The company growth rate suggests that stock is suitable for future growth stocks.

  • Palantir Technologies Inc. (PLTR) is down in the Pre-market; here is why?

    Palantir Technologies Inc. (PLTR) is down in the Pre-market; here is why?

    Palantir Technologies Inc. (PLTR) declined in the pre-market after announcing Q4 and fiscal 2021 results in a press release. PLTR values at $12.85, losing more than 8.73% from yesterday’s closing price. The stock closed at $12.75 at the end of the last trading session. The stock volume traded in the last trading session was 50.31 million shares. The current market cap is around $28.39 billion.

    PLTR: Q4 and Fiscal 2021 results

    • Palantir revenue in Q4 2021 was $433 million. It is a gain of more than 34% compared to the revenue of Q4 in 2020.
    • Fiscal year revenue was $1.54 billion, and it is an increase of more than 40% compared to the revenue in fiscal 2020.
    • The company’s net loss in Q4 2021 was around $156 million.
    • PLTR net loss in fiscal 2021 was around $520 million.
    • The Q4 2021 diluted loss per share was $0.08
    • For fiscal 2021, the diluted loss per share was $0.27.

    PLTR other achievements in Q4 and Fiscal 2021

    Palantir added 34 new customers in Q4, and while in the fiscal year 2021, it reached 147. The company won 64 new customers with an average purchase of more than $1 million in Q4.

    PLTR Outlook 2022

    By 2025, the company expects to have a 30% yearly growth rate. Palantir expects sales of $443 in the first quarter of 2022, with an adjusted operating margin of 23%. They predict a 27 percent operating margin in the fiscal year of 2022.

    Conclusion

    The solid financial statement may be attributed to a significant increase in the company’s commercial activities. When comparing fiscal years 2020 and 2021, the company’s commercial clients climbed by more than three times, reaching 147 in fiscal 2021. Prestigious firms like IBM and Ferrari are among the new clients. The company’s dependence on the government contract makes its revenue steam uncertain. That is why they are increasing their customer base to not rely on the revenue from the government contracts.

  • Faraday Future Intelligent Electric Inc. (FFIE) gained in the Pre-market, here is why?

    Faraday Future Intelligent Electric Inc. (FFIE) gained in the Pre-market, here is why?

    Faraday Future Intelligent Electric Inc. (FFIE) gained in the pre-market after recently announcing its partnership with Myoung Shin. FFIE values at $5.19, gaining more than 6.7% compared to yesterday’s closing price. The stock closed at $4.75 at the end of the last trading session. The stock volume traded in the last trading session was around 1.27 million shares. The current market cap of the company is around $1.54 billion.

    FFIE partnership with Myoung Shin

    Faraday Future Intelligent Electric Inc. (FFIE) has partnered with the South Korean manufacturer to produce the FF 81 starting production in 2024. The ultimate smart tech luxury EV FF91 will be released with enhanced connection and a more user-friendly experience in the third quarter of 2022.

    Myoung Shin is an automobile manufacturer and parts supplier based near Seoul, South Korea. The FF 81 manufacturing facility in Gunsan is large and easily accessible to the port. Myoung Shin will be able to produce enough FF 81 EVs to meet the agreement’s requirements.

    CEO’s remarks

    Faraday Future CEO Carsten Breitfeld is pleased to welcome Myoung Shin as a partner. He said that the company will assist them to achieve big-scale production in 2024, which is vital to their profitability. For the firm, Myoung Shin will help them introduce their top technology to the famed luxury class.

    FFIE Future Outlook

    Faraday Future and South Korean contract manufacturer Myoung Shin have developed a global hybrid manufacturing strategy based on a low-asset approach. China is the world’s largest luxury and electric vehicle market, and Faraday Future plans to develop manufacturing facilities there in the future.

    Conclusion

    The company’s stock is gaining in the pre-market in relation to the partnership announced last week. The company is currently at the pre-revenue stage and is hoping to dominate the luxury electric vehicle market in China.