STOCKS TELEGRAPH

Author: ST Staff

  • Boston Omaha Corporation (BOMN) stock plunges in the current market. Let’s find out why?

    Boston Omaha Corporation (BOMN) stock plunges in the current market. Let’s find out why?

    Boston Omaha Corporation (BOMN) stock declines by 9.74% in the current market trading after BOMN announced the pricing of a public offering of Class A common stock. The Boston Omaha Corporation is a public holding company with three majority-owned companies in outdoor advertising, surety insurance, and broadband telecommunications. In addition, the Company has minority stakes in a bank, a national homebuilder, and a commercial real estate services company.

    What is happening?

    Boston Omaha Corporation today reported the pricing of its previously announced underwritten public offering of its Class A common stock, par value $0.001 per share, for a total of 2,300,000 shares, of which 2,000,000 shares will be sold by Boston Omaha and 300,000 shares will be sold by a selling stockholder, at a price to the public of $25.00 per share. Before subtracting the underwriting discount and projected offering costs, the gross proceeds to Boston Omaha from the offering are forecast to be about $50 million. Depending on customary closing conditions, the offering is scheduled to close on April 6, 2021. Boston Omaha will not obtain any of the proceeds from the selling stockholder’s share sale.

    Boston Omaha has also given the underwriters a 30-day offer to acquire up to 345,000 additional shares of its Class A common stock, with Boston Omaha selling all such shares and the selling stockholders selling none under the 30-day option. The offering is being led by Wells Fargo Securities as the sole book-runner.

    And,

    Boston Omaha expects to use the net proceeds from the offering to expand its newly purchased fiber-to-the-home broadband telecommunications business, expand its Connect billboard business through acquisitions of additional billboard businesses, and for other general corporate tasks.

  • Universe Pharmaceuticals (UPC) stock is rising today: Things you need to know

    Universe Pharmaceuticals (UPC) stock is rising today: Things you need to know

    Shares of Universe Pharmaceuticals (UPC) stock were rising today in response to the announcement of the full exercise of Underwriter’s over-allotment option by Univest Securities, LLC for its client Pharmaceuticals INC. UPC stock price saw a push of 28.68% to reach $5.16 a share at the time of this writing. At the previous trading session, UPC stock was red and closed with an 8.24% drop. Let’s deep dive to explore more of it.

    What’s happening?

    Today’s news about the UPC stock explains that Univest Securities, LLC has exercised in full of its Underwriter’s over-allotment option to purchase 750,000  additional shares of its common stock for its client Universe Pharmaceuticals INC. The public offering price for this offering was $5.00 per share and it resulted in the additional gross proceeds worth $3.75 million. Now the total number of sold shares of UPC stock in this offering reached  5.75 million and gross proceeds surged to $28.75 million. Back on March  26, 2021,  Univest closed the initial public offering for its client Universe Pharmaceuticals of 5 million shares of its common stock which was previously announced on March 23, 2021.

    Use of Proceeds:

    UPC stock has the plan to use proceeds from this offering in the advancement of manufacturing facilities as well as for research and development purposes. Part of these proceeds will be used for marketing, branding, general and other cooperate purposes.

    About UPC stock:

    Universe Pharmaceuticals INC (UPC), a subsidiary of Sununion Holding Group Limited, is the manufacturer, marketer, distributor, and seller of traditional Chinese medicine products in the Republic of China.UPC’s core focus is to cure elders suffering from various chronic diseases. Furthermore, UPC  is also the seller of third-party producer’s products including biomedical drugs, medical instruments as well as traditional Chinese medicine products.UPC was founded in 2019 and is in Jiangxi, China.

    Conclusion

    Investors are responding to the news announced by the UPC stock, but no one knows how long this trend will continue. Proceeds from the offering will help Universe Pharmaceutical in its various operational as well as marketing areas. In a nutshell, investors having long-term prospects need to do analyze UPC fundamentals, balance sheet, and development prospects before adding them to their portfolio.

  • The9 Limited (NCTY)stock soared in the recent trading session: here’s why

    The9 Limited (NCTY) stock traded at $33.38 which is a 6.99% upward movement at the time of writing. The NCTY stock previously closed at $33.80.

    The recent pattern of trading of NCTY stock comes along with the news of The9 Limited announcing that it has entered into an underwritten offering with Maxim Group LLC.

    How is The9 limited a diversified company?

    The9 Limited (NCTY) is an Internet based company which based in China. The9 has the mission to develop into a high-tech diversified internet company. The company is based in Shanghai. Due to aiming to have a diverse portfolio, NCTY focuses on developing games and also had an exclusive license for the distribution/supply of the game World of Warcraft (WOW) in China. It also produces games for the mobile platform and has a technical consulting service. It was previously known as GameNow.net Limited.

    Tapping into the blockchain business

    In January 2021, The9 diversified its corporate portfolio by tapping into the blockchain business. It did so by agreeing to a partnership with Gingkoo Tech Company Ltd for providing blockchain technology product development services, through its Singapore-based subsidiary. The9 now provides global enterprise services related to customized blockchain-related projects.

    Announced an estimated $125 million worth of ADS offering through Maxim group LLC

    The9 Ltd, (NCTY) has announced today a massive stock offering. The company has bought a deal offering of American Deposit Shares. Under this agreement, the underwriter has agreed to acquire 3,765,100 American Deposit Share. Maxim Group is the only book-running manager for this agreement. Furthermore, the agreement also allows the underwriter, warrant to purchase 2,383,825 ADSs at a price of $33.20 per ADS and accompanying warrant.

    The9 has basically announced that it is selling more ADRs and warrants to purchase ADRs. This one offering allows the underwriter to have warrants which can be exercised at $36 per ADS for the 3 years term.

    The9 has given the underwriters a time limit to purchase up to 564,765 ADSs and this can also be in the form of warrants of up to additional 423,574 ADS. This is a 45-day option but the offering will be closed on 5th April.

    What does Tech9 aim to do with $125 million cash on hand?

    The9 wishes to develop the businesses which are in the starting phase like its crypto-currency mining. It will require cash to develop these businesses and in order to do so it has now just sold ADRs which will give a gross proceed of approximately $125 million. From this cash-on-hand the NCTY stock will try to expand its operations and it aims to do so until its businesses can generate self-sustaining revenue streams in the future.

    Overall the company is completing the vision it has described to become a diversified company. Furthermore, the expansion into cryptocurrency mining is a bold new venture which if operated and managed properly can definitely benefit the NCY stock in the future.

  • Why is Future FinTech Group Inc. (FTFT) stock popping high today?

    Shares of Future FinTech Group Inc. (FTFT) stock were high in today’s pre-market after the spread of the news that FTFT and shareholders of Nanjing Ribensi Electronic Technology Co., Ltd have entered into the framework agreement to acquire Nanjing Ribensi, a Bitcoin Mining Farm. FTFT stock price a surge of 25.48% to reach $7.78 a share as of this writing. FTFT stock was red in the previous trading session and a downtrend of 1.59% was recorded at closing. Let’s understand the current happening in more depth.

    Acquisition of Nanjing Ribensi

    Nanjing Ribensi is currently operating as the Bitcoin Mining Form that has the capacity to operate 30,000 mining machines. According to the agreement, FTFT has now the acquisition of Nanjing Ribensi, which is located in Yajiang County, Sichuan Province, China, and is approved by the government. This Bitcoin mining farm is equipped with mining machines and is functional to mine Bitcoins and other cryptocurrencies. Future FinTech will pay RMB 60 million amount for this acquisition.

    According to the seller,  Nanjing Ribensi will generate a net profit of more than RMB 15 million in 2021, RMB 20 million for 2022, and RMB 25 million in 2023. If Nanjing Ribensi fails to achieve these targets, then the seller will compensate for the shortfalls attributed to the above estimates. Moreover, the seller has assured the guarantee that this Mining Farm will continue its normal operation for at least 6 to 8 years, and maintenance, management, and mining equipment will be the responsibility of the current Nanjing Ribensi team in this tenure.

    Acquisition of Antminer Bitcoin Mining Machines

    Two days ago, on March 29, 2021, FTFT did announce the framework acquisition agreement with Nanjing Shunru Electronic Technology Co., Ltd in order to buy nearly 20,000 Antminer bitcoin mining machines. These machines would be responsible for hash rate capacity of 0.12% of Bitcoin by providing a combined 200 Petahash per second (PH/s) hash rate. The purchase price for this acquisition was totaled RMB 50 million.

    Conclusion:

    The acquisition news of the Bitcoin mining farm by Future Fintech has made the FTFT stock green in today’s pre-market trading session. The management is optimistic that this mining farm would generate massive profit and local hydroelectricity for running machines of this mining farm would cost-efficient.

  • Sundial Growers Inc. (SNDL) stock rises in the pre-market trading session. Why is it so?

    Sundial Growers Inc. (SNDL) stock rises in the pre-market trading session. Why is it so?

    Sundial Growers Inc. (SNDL) stock declined by 0.88% at the last trading close whereas the SNDL stock surges by 3.54% in the pre-market trading session.  There is no recent news hitting the media related to this up and down in SNDL stock price. Sundial is a publicly-traded company, with its Common Shares trading under the symbol “SNDL” on NASDAQ. Sundial is a licensed cannabis producer with state-of-the-art indoor facilities.

    What is happening?

    If there is one thing which can be considered positive about Sundial, it is that it is flush with cash. SNDL stock had $719 million Canadian ($570 million US) in cash on hand as of March 15. With this, Sundial is able to implement whatever growth plan, management has in mind.

    On the other hand, shareholders have been completely ignored by the management of SNDL stock. While share-based dilution has become the standard in Canadian marijuana stocks over the last four years, Sundial’s dilution has been extreme. The company issued 1.15 billion shares in five months, more than tripling the number of outstanding shares. That’s not a small amount, particularly considering the company has filed a proposal to sell up to $800 million in additional common stock through at-the-market offerings.

    Sundial’s massive outstanding share count (1.66 billion) would make it nearly impossible for SNDL to produce significant earnings per share, or even to remain above the $1 minimum listing level on the NASDAQ market, despite raising a ton of money and erasing its debt.

    Conclusion

    With no accurate reason being given for the current change in SNDL stock, the outlook on its past performance shows an uncertain future of Sundial Growers. Due to SNDL’s share-based dilution, it seems like that the investors are also not sure about making a long-term bet in SNDL shares.

  • Bridging crypto & stock market: Tenset launched on Uniswap

    Bridging crypto & stock market: Tenset launched on Uniswap

    Tenset or 10set is a deflationary token based on the Ethereum block chain. The project is a bridge between cryptocurrency and the stock market. Investors can place their money in a 10set token which is based on multiple projects – both cryptocurrency and stocks. Each token is going to be smartly backed by cryptocurrencies, as well as shares ultimately, to generate passive income.

    Tenset.io has officially launched on Uniswap – the popular decentralized cryptocurrency trading platform. The total supply of 10set is at 205 million while the current supply is at 81 million. 10set has already burnt 5 million tokens which is a good indicator.

    The first pair of tenset launched was 10set/ETH. Tenset.io after being on the Uniswap for just a day has already entered the top ten trading pairs at 6th place. The project is garnering increasing interest. The cryptocurrency also got featured on Cointelegraph, Korea and the excitement around the world for 10set is growing.

    Tenset
    Tenset

  • P&F Industries, Inc. (PFIN) stock soared in the pre-market trading session: here’s why

    P&F Industries, Inc (PFIN) stock recently traded at $6.60 which is a 9.46% upward movement. The stock previously closed at $6.03. PFIN stock also soared in the pre-market trading session by 16.36% at the time of writing.

    The recent positive pattern in the PFIN stock movement comes along with no specific news or press release today. P&F Industries (PFIN) did, however, released its report for the year ended 2020, the performance of which had made investors lose confidence in the PFIN stock.

    P&F Industries’ corporate background

    P&F Industries (PFIN) is a tool & accessories manufacturer that specifically creates air-powered tools and related accessories. P&F also imports these tools and sells them principally to the retail, industrial, automotive, and aerospace market. Two wholly-owned subsidiaries of PFIN are Continental Tool Group Inc. and Countrywide Hardware Inc. which are mainly responsible for the manufacturing and importing. However, the products produced are either sold under their own trademark or under the private labels of major manufacturers. These manufacturers also include Florida Pneumatic and Hy-Tech Machine Inc.

    The pandemic caused underperformance in several sectors of P&F

    The financial result of 2020 showed the underperformance of PFIN stock and operations.

    • P&F reported net revenue for 2020 is $49,136,000 compared to $58,674,000 net revenue of 2019.
    • The Company also reported a loss in before-income taxes of $6,855,000 for 2020 which increased from 2019’s $6,708,000.
    • The before-income tax 2020 loss also included an impairment charge of $1,612,000.
    • P&F reported net-income of $4,954,000 for 2020 compared to $4,911,000 in 2019.

    The financial result also show that P&F Industries’ (PFIN) aerospace industry performed really poorly. This was mainly due to the limitation in the production of the Boeing 737 MAX made by the Boeing Company. In addition to this, the pandemic most negatively impacted P&F Industries’ revenue and operational performance. Due to the pandemic, another problem that declined the revenues of P&F’s aerospace sector is the overall reduction in the production of commercial as well as military aircrafts.

    The pandemic also declined the sales ofP&F stock in Europe which had relatively better operational performance but due to the pandemic, the European countries had all some form of lockdown imposed on them.

    This problem due to pandemic will continue to persist if the vaccine administration in these countries is not accelerated.

    Even the world-over Oil and Gas exploration and production activities hit a downturn trend along with stagnation in its growth. This sector also resulted in lower revenue generation as well as overall weak fundamentals for the P&F’s manufacturing and production capabilities.

    The CEO is positive that P&F industry will recover in current year 2021

    The CEO of P&F Industries Inc. (PFIN), Richard Horowitz has resorted to a positive expectation to regain their original operational potential and better PFIN stock performance as the COVID-19 vaccinations have started distribution. The lockdowns have also been eased in many US states and cities.

    Mr. Horowitz added that Boeing’s reopening of the production of Boeing 737 MAX aircraft along with increased production will allow the aerospace sector to increase its performance and hopefully expand. But this normal-operations level is predicted by him to be only in the second half of 2021. Furthermore, the first two months of the industry have been going strong thanks to increase in overall customer order activity.

  • WiMi Hologram Cloud Inc. (WIMI) stock rises on pre-market. What’s going on?

    WiMi Hologram Cloud Inc. (WIMI) today on April 1, 2021, announced that it got approval certificate of Federal Communication Commission(FCC) for its WiMi HoloAR HUD, a holographic AR product of its electric vehicle, to enter into the U.S. market after which WIMI stock saw a push of 6.06% to reach $7.00 a share at the time of this writing. It seems that WIMI stock was performing well in the previous trading session and up by 8.02% at closing. Let’s deep dive to explore more of it.

    What’s happening?

    WiMi Hologram Cloud Inc. (WIMI) is the leading Augmented Reality based products and services provider in the Republic of China.FCC certificate for WiMi HoloAR HUD has added more hype to the rising stock price. It is mentioned in the certificate that the exterior design, as well as radiation patterns and data transmission protocols, are properly tested and certified by the FCC. Back in November, WIMI got its first approval certificate by FCC for its of WiMi Hologram Soft Light products to enter the U.S. market.

    The advancement in the autonomous industry has greatly increased the demand for holographic AR applications by consumers and automakers. WiMi HoloAR HUD is the result of this huge demand that provides many features such as image processing, voice interaction, optical processes, cloud services, and many more. WiMi HoloAR HUD can perform many functions as it reads vehicle’s diagnostic data, runs background apps, enable Bluetooth connection, controls voice, displays tire pressure, and many more. These features make the WIMI product unique and add more value to the WIMI stock.

    Plans of WIMI stock

    WIMI management is planning to produce more solutions related to AR technology due to the increasing demand for AR-based products. WIMI will provide multiple solutions for holographic devices related to vehicles, vehicle chips, and vehicle software in order to meet the increasing demand for Holographic EV applications. Moreover, WIMI will continue to provide solutions related to the integration of holographic hardware and software for the development of more AR application products for the EV industry.

    Conclusion:

    WIMI stock is hot among the investors in the stock market due to the approval for its WiMi HoloAR HUD product by FCC. WIMI management is focused on the more advancement and development of Holographic AR application products for the EV industry. Hence investors should keep an eye on this stock.

  • UXIN stock surges in the pre-market trading session. Here’s to know why?

    UXIN stock surges in the pre-market trading session. Here’s to know why?

    UXIN stock surged by 12.5% at the last trading close while the UXIN stock price kept on rising by 17.95% in the pre-market trading session after UXIN announced that they have signed a binding term sheet with two well-established Asian funds. In China, UXIN is a leading online pre-used car dealer with a nationwide presence. UXIN’s goal is to empower people to buy the car of their dreams online by providing high-quality used cars and best-in-class shopping services. UXIN’s one-stop online shopping mall offers customers a national range of affordable used vehicles, as well as a variety of value-added goods and services.

    How does UXIN works?

    Its online sales consultants provides expert advice to help customers make a quick and easy car purchase. To complete these online transactions, its robust fulfillment program provides nationwide logistics and distribution, as well as title transfers between different cities across China.

    What is happening?

    On April 1, 2021, UXIN signed a binding term sheet with two existing Asian funds, committing the potential investors to negotiate and eventually enter into definitive agreements with the Company for the subscription of senior convertible preferred shares. The proposed transaction could result in a cumulative investment of up to $300 million. The potential transaction’s completion is dependent on the parties’ implementation of definitive agreements and the stipulation of customary closing conditions therein.

    Conclusion

    Following this new positive development in UXIN, it is expected that UXIN will be able to make visible progress in the future but under these uncertain COVID-19 situations, the definite verdict cannot be given since the working of businesses around the globe, be it of any type are subject to change due to unfortunate pandemic scenario. Besides this, investors would definitely be interested in UXIN stock because of this deal.

  • Elite Education Group International Limited (EEIQ) stock skyrocketed up to 250% after IPO raising $6M in net proceeds. Here’s What happened

    Elite Education Group International Limited (EEIQ) stock strives to provide quality educational services and solutions to Chinese students who are passionate to study abroad in a globalized environment. EEIQ announced that the company had gained net proceeds of $6.0M after releasing 750,000 units and have used their over-allotment option buying an extra 31,343 common stocks at an average price of $7.98 per stock.

    Each unit will be subdivided into two categories, a particular Series A warrant, and a particular Series B warrant. The Series A warrants allows the investor to buy one common EEIQ stock at a discounted price of $5.00 with a maturity time of 5 years. The Series B warrants allows the investor to buy one common share for a rate of $10.00 with a maturity period of 5 years as well however with an added exchange feature allowing the purchaser to convert the warrant into common EEIQ stock.

    Elite Education Group International Limited stock was enlisted to Nasdaq on 25th Match ‘21 and was purchased using the ticker symbol “EEIQ”

    About Elite Education Group

    Quest Holding International is a daughter company of EEIQ. The wholly-owned subsidiary has a partnership with the University of Ohio, which provides 120 under-graduate degrees, 60 graduate and 13 doctorate degrees, guiding students step by step to study abroad by providing services that include accommodation, food and dietary plan, judicial and medical services.

    EEIQ is aiming towards diversification through a globalized environment through expanding in various countries such as Hong Kong and Vietnam. Furthermore, it is also expected to offer additional programs such as opening an English language training facility in china.

    Conclusion

    EEIQ offered a better-than-expected outlook for the current quarter, and are anticipated to produce a decent profit as their stock price surged by 250% after their initial public offering. Furthermore, Global expansion into different countries as well as providing various services to students abroad has targeted a huge demographic in china, with a mass majority of Chinese population being eligible to pursue higher education.