STOCKS TELEGRAPH

Author: ST Staff

  • Altimeter Growth Corp. (AGC) stock rallied in the aftermarket session: Why did it happen?

    Shares of the Altimeter Growth Corp. (AGC) stock continued the rising trend in yesterday’s aftermarket session after rising as much as 5.11% at the previous closing. AGC stock price saw a push of 5.17% to reach $13.84 a share in the late hours of Monday, on April 19, 2021. Let’s try to find the reason behind this bull.

    What’s happening?

    The momentum has been already built for the AGC stock since the spread of the news that it is going to merge with Grab, a ride-hailing and food-delivery giant of South Asia, via a definitive merger agreement. According to this deal Grab would be listed publicly in the NASDAQ via SPAC rather than traditional initial public offering and would have a market value of  $39.6 billion upon the completion of the combination with AGC stock. Furthermore Grab will get approximately $4.5 billion in cash proceeds in connection to the merger agreement.

    Grab is playing the lead role in South Asia for ride-hailing and food delivery services and growing at a fast pace. The Singapore-based startup has projected its expansion from $52 billion in 2020 to $180 billion by 2025. Despite the great rivalry with Gojek and severe COVID-19 pandemic condition that restricted the movements of individuals, Grab’s total gross merchandise volume in the last year was recorded $12.5 billion which was more than double as compared to 2018.

    Altimeter CEO Remarks:

    The CEO of the AGC stock acknowledged that Grab is one of the world’s largest and rapidly growing company clearing the digital pathway for  670 million citizens of Southeast Asia.CEO further said that the management of AGC is happy with this partnership and looking forward to the growth of its partner as well as its long-term owner.

    Conclusion:

    AGC stock is outperforming as far as market sentiment is concerned. Its largest-ever SPAC deal with Grab would prove to be fruitful in the long run for investors. Hence AGC can be a good bet for investors in the long run.

  • Why Professional Diversity Network Inc (IPDN) stock was high in Monday’s aftermarket?

    Why Professional Diversity Network Inc (IPDN) stock was high in Monday’s aftermarket?

    Shares of Professional Diversity Network Inc (IPDN) stock were high in yesterday’s aftermarket session after falling as much as 5.03% at the previous closing. IPDN price saw a push of 3.31% to reach $1.56 a share in the late hours of Monday on April 19, 2021. Let’s find out the reason behind this bull.

    What’s happening?

    It seems that the rising stock price has nothing to do with any story related to the IPDN stock. We find no signs analysts upgrades upswing targeted per share price of IPDN. Social media hype doesn’t support this stock. So, individuals looking for some news related to IPDN need to think out of the box to understand the reality of IPDN stock. For convenience, here are some past activities of IPDN.

    Past Activities by IPDN stock:

    On April 1, 2021, IPDN stock did announce the launch of a fully integrated job board known as Kappa Alpha Psi Fraternity, Inc. (ΚΑΨ) job board, which is located in ΚΑΨ’s website. This job board is easy to access and initially launched for the 170,000 initiated members of ΚΑΨ. The ΚΑΨ  job board would create a wide range of opportunities regarding career for the ΚΑΨ  members.

    On March 26, 2021, IPDN signed the stock purchase agreement with RemoteMore USA, Inc., a remote hiring marketplace services provider for companies and developers, in order to acquire interests in RemoteMore. The transaction is expected to close in the second quarter of 2021 after meeting the specific closing conditions. IPDN stock would be the largest shareholder of the RemoteMore after the completion of the transaction and would have a significant influence on its operations.

    About Professional Diversity Network Inc:

    • Professional Diversity Network Inc is developing as well as operating the online network communities in order to provide a diverse range of resources in the United States.
    • IPDN stock is mainly working on two segments. One is Professional Diversity Network (PDN Network) and the other is the National Association of Professional Women (NAPW Network).
    • PDN provides recruitment services in a wide range of fields along with research and outreach services to employers and cultural groups.
    • PDN, Inc was founded in 2003 and is headquartered in Chicago, Illinois.

    Conclusion:

    The penny IPDN stock happened to be green in the late hours of yesterday despite no recent story related to IPDN stock. Such rise and falls don’t last for long but exact prediction can’t be possible in the stock market as it is very uncertain. Hence individuals eying on IPDN need to do a lot of research before making any decision.

  • Why is the news behind the PTON stock’s plunge controversial? Let’s find out

    Peloton Interactive Inc. (PTON) stock plunged -9.03% to the price of $105.72 for the current trading session, at the time of writing. PTON’s previous session closed at $116.21.

    Peloton’s background

    Peloton Interactive Inc. is a fitness-based company that provides fitness products internationally, founded in 2012 and is headquartered in New York. The product offerings include the Peloton Bike and the Peloton Treadmill. These Peloton products come with customization and variations which include the addition of touchscreens; you can customize it to get on-demand fitness classes and live streams. Peloton has had 3.6 million active members as on 9th December 2020. The company also provides the Peloton Digital App which is included in the subscription-based model of the company. This model includes the app for providing access to fitness classes as well as other on-demand classes for multiple household users.

    Peloton is gauging performance in the home fitness market

    Since the pandemic has closed the doors to gyms, fitness centers, and open parks due to fear of spreading the virus, people have become tired of sitting at home and not able to perform their favorite fitness routines. This is where Peloton stepped in by marketing its Treadmill and Bike to perform exercises in the comfort of their home. The company has been seeing a boom in the demand for its Bike and Treadmill ever since the pandemic started.

    Furthermore, there is also a hype on digital markets of every sector and industry, which is also true for the fitness industry, as people sit at home during the pandemic and look forward to new innovative ways of performing exercises through the online platform of fitness services and subscription. This has also lead to Peloton’s subscription-based model to perform well as the demand has risen.

    This can be seen through the metrics of fitness subscription number which have increased by a three digit percentage of 134% to the number of 1.67 million subscribers in the second quarter of the fiscal year 2021. Furthermore, it also expanded its manufacturing operations by acquiring Precor- a fitness equipment provider last December, this allowed the company to expand its business and incorporate the b2b market.

    Peloton controversy and the overall outlook of PTON for 2021

    There seems to be no stopping the company to enter the home fitness market and expand. This will increment the performance of the PTON stock and the growth of its share value. However recently there is one issue that has come to the surface that seems to have disrupted the stark positive image of the company’s performance and products.

    The U.S Consumer Product Safety Commission posted a tweet on Saturday stating that it has found multiple incidents and cases where small children and pets are injured by being pulled, pinned and dragged underneath the Peloton Tread+ (Peloton’s treadmills) through its rear rollers. The Safety Commission further advised in the tweet for everyone to stop using the treadmill. However the CEO of PTON stock, John Foley responded defending the treadmill’s safety and instructions of usage/warnings while at the same time accusing the CPSC’s tweet a personal attack.

    The shares slumped on Monday due to this however, this issue is being tackled and addressed by the company, and analyst perceive this not to be a long-term issue for the sales and PTON stock performance.

  • Zomedica Corp. (ZOM) soared in the current session; here’s why

    Zomedica Corp. (ZOM) soared in the current session; here’s why

    In the current market, Zomedica Corp. (ZOM) stock plummeted by 0.77% to the price of $0.84 at the time of writing. ZOM stock closed its previous trading session at $0.85.

    The expansion of a direct sales team and organization for ZOM and TRUFORMA

    The ZOM stock announced on 15th April 2021 that it has planned to expand its operations of commercialization, marketing and sales of its product. Zomedica will do so by expanding the direct sales organization and at the same time shifting from its distributor-based sales effort.

    The ZOM stock wants to transition into the distributor-based sales model as quickly as possible because the anticipated disruption and changes in the current distributor has limited the ability for the company to market its products effectively. Therefore accelerating towards the direct sales organization is the immediate operative goal and transition that the company is working on.

    Initially affect the sales of TRUFORMA and other products but only for the short term; in the long term the operative process of direct sales will strengthen the development, commercialization, and sales of any future product along with TRUFORMA.

    The accelerated process of developing the direct sales team has proven effective because the company has a current sales force of eight employees as direct field sales personnel that come under two regional managers and the executive vice president of sales and chief commercial officer.

    The company believes that this direct sales force will dramatically improve the ability to serve the customers and effectively sell the products in the veterinary market based on the long-term plan. For this, the first commercial sale of the company’s product before its launch date has been a sign of high expectations of demand for TRUFORMA and Zomedica’s financial strength.

    The potential of ZOM stock’s performance and sales of TRUFORMA in 2021

    With the latest milestone in its flagship product, we need to look into the stats of the pet diagnostic market. The most significant data about the market is that 93% of the dog owners visit veterinary annually and with the average lifespan of dogs in mind, that means they will visit for 15 years give or take. Furthermore, 67% of the households keep a single pet at least and $99 billion is the amount that consumers spent on their pets in the US, 2020.

    The performance of the sales operation gives and potential market share gives investors and shareholders a positive expectation for the ZOM stock. However, there is still the volatility of the stock in the past one-year trend that needs to be heeded.

    These stats are very welcoming for Truforma and with other assays in the phase to be released soon, 2021 seems highly for ZOM stock to rise. Zomedica has also submitted an in the company’s SEC 10-K form, a bull thesis which indicates the market potential for companion animal diagnostic market forecasted to reach $2.8 billion  (a 5-year CAGR of 9.8%) by 2024. Similarly, the global veterinary immunodiagnostic market has been forecasted to reach $2.1 billion by 2022 (CAGR 9.6%) This potential is well within reach as the company keeps reaching its milestones one by one.

  • Asana Inc. (ASAN) stock soared in the after-market session; here’s why

    In the after-market trading session, Asana Inc. (ASAN) stock soared by 0.45% to the price of $33.69 at the time of writing. ASAN stock previously closed at $33.54 which is a -0.95% plunge. The ASAN stock volume traded Friday at 1.68 million shares, higher than the 1.37 million average volume of the past 3 months. In the past week, the stock has moved down by -1.06%. Over the past three months and six months, the stock has lost -9.69% but added 43.64% respectively. Furthermore, Asan Inc. has a current market of $5.52 billion and has 161.48 million outstanding shares.

    The world’s best Technology Company

    Asana Inc. is an IT application company that specifically operates as a platform for work management that is available to executives, employees, management and individuals. Asana Inc. formerly known as Smiley Abstractions Inc. was founded in 2008 and is present in San Francisco, California. The ASAN stock provides this software platform which can be adjusted to any work-role and team operations that aims at making the environment and work productivity more efficient and convenient. It does this through allowing cross-network communication and structuring of the network in a way that aligns with the company’s broader mission organization.

    Announced new co-integrative platform for workers

    On 14th April 2021, Asana Inc. (NYSE: ASAN), announced that it has launched the most comprehensive ecosystem for work tools by the name of Asana Partners. The new essential work-tools and strategic channel partners has this ecosystem spread over 75 countries and with more than 200 tools. To make this ecosystem more diverse and integrated, ASAN stock, integrated 7 new languages to make it more welcoming for users. The languages include Chinese (Traditional), Russian, Swedish, Dutch, Korean, Italian and Polish.

    The company Asana Inc. believes that due to disintegrated apps and platforms, the workers take time in prioritizing their work and often miss over one-quarter of all deadlines. Employees lose their productivity as they burn out at a higher rate, clock in overtime, and struggle with task distributions. This is where Asana partners can step in, which partnered with Dell and SHI along with others for technical and professional services and setting up workflows for customized solutions.

    Why Asana inc. is the best Tech Company?

    On 12th April, Asana Inc. was declared to be the number one workplace in the Technology sector. The award was given by Great Place to Work and FORTUNE for the title “Best Workplace in Technology”. Asana Inc. has now been positioned number one for the second year in a row. Furthermore, this marks the fourth year for Asana Inc. to rank in the top three rankings. The employees at Asana consisted at 98% who stated Asana as a great place to work which according to the average U.S Company review, is 39% higher.

    The ranking is done in Best Workplace in Technology by Great Place to Work using thorough analytics and private feedback given by employees. Internal management transparency and employee satisfaction allows for smoother operations and along with Asana partners, the ASAN stock can have some positive movement trends for the year 2021.

  • Why Fluidigm Corporation (FLDM) stock was down in Friday’s aftermarket?

    Shares of Fluidigm Corporation (FLDM) stock, a biotechnology tools provider,  were continued the downtrend on the Friday aftermarket session after dropping by 1.49% at the previous closing. FLDM stock price went down by 3.89% to drop at $4.45 a share in the late hours of Friday 16, 2021. Let’s see the reason behind this bearish sentiment.

    What’s happening?

    There is no major culprit behind the falling FLDM stock price, no recent news, no analysts’ downgrades or shrank the targeted per share price of FLDM stock to justify the bearish sentiment. Sometimes stock falls due to filing against it by any law firm but this fact doesn’t support the down FLDM. This is something confusing for investors who are looking for some news related to FLDM. So what you need to know at this point? Here are some previous events of FLDM stock.

    On April 08, 2021, Fluidigm stock did announce that it will release its first-quarter earnings report on Thursday, May 6, 2021, after the closing of the market. The Chief Executive Officer of FLDM Chris Linthwaite and Chief Financial Officer Vikram Jog will host the conference and webcast.

    The summary of the previously announced fourth quarter and fiscal results of 2020 is given below.

    Fourth Quarter Results:

    • In the fourth quarter, FLDM revenue surged to $44.6 million from $32.4 million representing an increase of 38% in comparison with the same quarter of the previous year.
    • GAAP net loss for the reported quarter was increase to $18 million as compared to $12.7 million for the same quarter of the prior year while the non-GAAP net loss in the fourth quarter of 2020 was $9.8 million as compared to $2.3 million in the same tenure of the previous year.

    The full Year 2020 Results:

    • Full-year revenue for the FLDM stock surged to $138.1 million from $117.2 million representing an 18 percent yearly increase.
    • GAAP net loss reduced to $53.0 million in 2020 from $64.8 million in 2019 while a non-GAAP net loss of FLDM stock reduced to $21.8 million in 2020 as compared to $23.7 million in 2019.

    Conclusion:

    FLDM stock is passing through a hard time as far as market sentiment is concerned but one should know that the stock market is unpredictable, and anything can happen at any time. The previous financial results were less than the analysts’ estimates but the highest ever revenue for the fourth quarter was the positive thing for the FLDM stock.

  • COTY stock shares plunged in the after-market; what is the recent news on it?

    COTY stock shares plunged in the after-market; what is the recent news on it?

    In the after-market, COTY stock plunged by -2.11% to the price traded at $8.81 at the time of writing. COTY stock dropped -1.42% to close at $9.00 on Friday’s session. The COTY stock volume traded Friday was 6.28 million shares, which was lower than the average daily volume of 12.55 million shares for the past 90 days. In the past week, the shares have moved up by 3.81%. In the last 12 months, COTY stock price rose by 57.34%. Over the past three months and the past six months, the stock rose by 25.52%, and 169.46% respectively. Furthermore, Coty Inc. is currently valued at 7.00 billion has 764.60 million outstanding shares.

    Coty Inc. partners with premium and luxurious brands

    Coty Inc. is a global beauty conglomerate that specifically manufactures, commercializes, and sells beauty and cosmetic products worldwide. It was founded in 1904 and the headquarters is in New York. COTY stock does its operations along with its subsidiaries and sells premium and elite skin-care and cosmetic products. The conglomerate provides these products to high-class and major retailers, e-commerce companies, perfumeries, and department stores.

    Coty has worked with prestigious brands like that of Biocolor, 007 James Bond, Beckham, Bozzano, Enrique, Adidas, Stetson, Monange, Sally Hansen, Hugo Boss, Gucci, Calvin Klein, Davidoff, Lacoste, Kylie Jenner,  Cover Girl, and Bruno Banani to sell primarily the fragrance, skincare, color cosmetics and body products. Coty also has third-party distributors through whom it sells its products. The total number of countries to whom it sells its products is 150.

    Coty Inc. secures offer of $900 million for senior secured notes

    On 17th April 2021, COTY stock announced that it is pricing senior secured notes for the value of $900 million. The 5.000% senior secured notes are to be due till the year 2026. The exchange will happen as Coty will provide the offering of the Notes and for receiving gross proceed of $900 million. The net proceeds were previously announced by COTY stock to be $750 million, which has now been upsized. The offering will close on 21 April 2021 as is expected.

    The main focus of Coty with the gross proceeds once it secures it from the offering is to repay the outstanding loan terms partially and to cover up any related expenses and premiums. The senior secured notes will be obligations of Coty and therefore will have the same obligatory basis with the subsidiaries of Coty. The senior secured notes are not registered under the Securities Act of 1933 or any state-related laws and are given based on Rule 144A to reliant and qualified institutional buyers.

    Kim Kardashian and KanyeWest ‘s relationship can effect Coty and Skims

    In different news related to Coty Inc., the conglomerate had purchased a 20% stake in Skims which is Kim Kardashian’s $1.6 billion loungewear and shape-wear company. Kim Kardashian has 72% ownership of the company, however the recent news of split-up and filing for divorce of the famous Kim Kardashian and Kanye West couple may have an effect on the company and indirectly the COTY stock.

  • GameStop Corp. (GME) stock popped high in Friday’s aftermarket: Why did it happen?

    Shares of GameStop Corp. (GME) stock popped high in the aftermarket session on Friday after Keith Gill, who is renowned as Roaring Kitty in social media, exercised his 500 call options to bought 50000 additional GME shares at a strike price of $12. GME was gloomy during the last trading session and closed with a 1.12% drop. Let’s deeply understand the current scenarios.

    Roaring Kitty helped the GME stock rise:

    Keith Gill, who is famous as Roaring Kitty on social media, posted the screenshot on Reddit which showed that he doubled down his bet by exercising 500 call options to bought additional 50000 shares of GME at a strike price of $12.His total investment in the GME stock has now reached 200,000 shares representing more than $30 million worth and $20 million profit. The screenshot posted was confirmed by his mother to Bloomberg.

    GameStop CEO news:

    George Sherman, the Chief Executive Officer of GameStop, has disposed of almost $12 million in shares with the proceeds earmarked by GME for the payment of compensation-related taxes. George Sherman is expected to leave the GameStop.He forfeited about 587,000 shares of $98 million worth after failing to meet the required performance targets.

    Key Information of GME stock

    GameStop is planning to move away from its brick-and-mortar business and for this purpose, the GME stock has added new executives for the growth of its business and advancement in its technology.GME shares skyrocketed 721% so far but were down more than half in the first month of this year.GME recently announced plans to retire senior notes due in two years in order to wean itself from debt.

    Conclusion:

    GME stock captivated the attention of investors amid the spread of the news related to purchasing additional shares of GME by Keith Gill. Following the current business trend, GME is more focused on the advancement of technology and online business. In a nutshell, investors eying GME stock need to do good research before adding this stock to their portfolio.

  • Why Ashford Hospitality Trust, Inc. (AHT) stock was high on Friday’s aftermarket?

    Shares of Ashford Hospitality Trust, Inc. (AHT) stock were high in the after-market session on Friday 16, 2021 after closing with $1.92 per share in the last trade. AHT stock price saw a push of 6.77% to reach $2.05 a share in the late hours of Friday. This rise is not attributed to any particular activity of the AHT. Let’s deep dive to explore more of it.

    What’s happening?

    There is no specific news related to AHT that might explain its rise in the after-market session. No recent upgrades of AHT stock have been done by the analysts to support the bullish sentiment. The recent announcement made by AHT was on March 25, 2021, in which Ashford stock announced that it would release the earnings of the first quarter ended on March 31, 2021, on Tuesday, May 4, 2021, after the closing of the market.AHT will host the conference call on Wednesday, May 5, 2021, at 12:00 p.m. ET.

    Previous Earnings Results:

    On February 25, 2021, AHT stock did announce its fourth quarter and full-year 2020 financial results the summary of which is given below.

    • AHT stock suffered a net loss of $70.5 million or$2.29 per diluted share related to its common stockholders in the fourth quarter of 2020. The full-year net loss of AHT was $520.5 million or $33.00 per diluted share related to its common stockholders.
    • Revenue per available room (RevPAR) reduced to $35.70 in the fourth quarter with decreasing percentage of 70.1 as compared to the same quarter of the prior year.
    • $23.1 million adjusted EBIDTA was recorded by AHT in the fourth quarter while it was $54.9 million for the full year 2020.
    • As of December 31, 2020, AHT stock had cash and cash equivalents of $92.9 million and restricted cash of $74.4 million.

    Forbearance agreements by AHT stock:

    During the fourth quarter, AHT stock signed many forbearance agreements which include forbearance agreement on its $98 million Hilton Boston Back Bay mortgage loan, forbearance agreements on its $52 million mortgage loan of 7 hotels, and forbearance agreements on its KEYS Loan Pools that represents 34 hotels and $1.2 billion debt.

    Strategic Financing:

    On January 15, 2021, AHT did an announcement of closing its strategic financing with Oaktree Capital Management, L.P pursuant to which 200 million financings on closing were drew down by the AHT with the option of drawdown of an additional $250 million in case of need.

    Conclusion:

    AHT price was up in the late hours of previous trade despite the absence of any particular activity by the Ashford Hospitality Trust. The previous financial results showed that the previous year was difficult for AHT stock. Upcoming results of the first quarter of 2021 would decide the fate of AHT stock.

  • Motus GI Holdings Inc. (MOTS) stock is plunging in the current trading session: what is behind this movement?

    Motus GI Holdings Inc. (MOTS) stock is plunging in the current trading session: what is behind this movement?

    Motus GI Holdings Inc. (MOTS) stock plunged in the current market at-11.94% to trade at $0.92, at the time of writing. MOTS stock closed at $1.05 in the last session. The MOTS stock traded at a volume of 1.36 million shares. This volume was lower than the average daily volume of 3.81 million shares for the past three months. MOTS shares for the past year have risen by 34.68%. MOTS stock has moved down in the past week by -19.23%. The stock has lost -5.41% in the past 90 days and added 10.14% in the past 180 days. Motus GI Holdings Inc. is currently valued at a market rate of $50.26 million with 40.38 million outstanding stocks.

    Motus GI Holdings Inc background

    Motus GI Holdings Inc. is a medical technological company that has its base of operations in Fort Lauderdale, Florida. The operational framework of the company is to provide cost-efficiency and enhancement in clinical outcome through its endoscopy solutions. The company focuses on the diagnosis and treatment of the diseases and conditions related to gastro intestine in the market of United States as well as Israel.

    What is Motus’s Pure-Vu?

    The leading product of MotusGi Holdings Inc. is known as the system of Pure-Vu. During a colonoscopy procedure sometimes the colon is poorly prepared and thus it requires cleaning of the debris, blood clots and blood so that the endoscopist can clearly see it. This cleaning is facilitated by Pure-Vu.

    Pure-Vu submitted by the company for 510(k) approval

    The company MotusGi Holdings announced on 6th April 2021, that it has submitted a 510-k form for its flagship product Pure-Vu. The submission is given to the Food and Drug Administration for Pure-Vu®. 510(K) is a clearance certificate granted by the Food and Drug Administration in order to test a product for premarket submission so that its claim of efficacy and safety can be verified and approved. Once this submission is approved, the Pure-Vu system can be immediately set-up for commercialization and marketing.

    How MOTS is trying to increase its operational footprint

    The MOTS stock is increasing its value for the shareholders through four value-driven operations which include new product innovation, clinical data, partnerships, and reimbursement.

    The new strategic partnerships include the most recent announcement of a study that will lead to evaluation of clinical and economic outcomes from utilization of Pure-Vu in patients that are suffering for emergent lower gastrointestinal bleeding. This will be done partnered with a leading non-profit organization.

    Pure-Vu can enter a potential market

    Pure-Vu is going to enter into a market of unmet needs related to the treatment of upper GI bleeding. The significance of this system in the market-accessibility sense is such that around 0.4 million patients have had upper GI bleeding in the year 2019. The fatality rate of this disease is also at a serious 10%.

    The requirement of Pure-Vu is going to be very impactful to remove adherent blood clots to clear vision through endoscopy in order for the physicians to have clarity in identifying the source of bleeding and treating it.