STOCKS TELEGRAPH

Author: ST Staff

  • Antelope Enterprise Inc. (AEHL) stock gained during after-hours trading. Why is it so?

    Antelope Enterprise Inc. (AEHL) stock gained during after-hours trading. Why is it so?

    Antelope Enterprise Inc. (NASDAQ: AEHL) stock soared during the last trading close by 10.61%, while the AEHL stock price rises by 22.38% in the after-hours trading session. Currently, no recent news follows the increase in AEHL stock; therefore, we will look at Antelope Enterprise’s past development to get an idea about what is happening. AEHL deals with the manufacturing of ceramic tiles, which are used for interior flooring and exterior siding, and in the designing of residential and commercial buildings.

    Recent Past Developments

    Antelope Enterprise has not recently revealed any press release. AEHL, on February 12, announced that it had reached an agreement with three institutional investors to register a direct offering of securities with a gross total of $2.1 million, without adding commissions and expenses. Furthermore, Antelope Enterprise announced to give 588,236 authorized common shares at a purchase price of $3.57 per share in association with the offering. During a private placement, an investor’s common share will be accompanied by an unregistered warrant to purchase one common share from AEHL.

    The warrants have a $3.57 per share strike price, which will be payable right after the issuing, and that will expire after five years of the initial date. AEHL also clarifies that the gross amount generated from the offering will be used for general corporate and working capital purposes by Antelope Enterprise. For this offering, Dawson James Securities worked as the sole placement agent.

    Conclusion

    Although the deal was supposed to finalize on February 17, 2021, Antelope Enterprise did not make any announcement around the date. Therefore, we can only expect that this agreement might have been why AEHL stock became interesting for investors.

  • BrainStorm Cell Therapeutics, Inc. (BCLI) Stock Price Has Increased By 21%. Here’s what happened

    BrainStorm Cell Therapeutics, Inc. (BCLI) Stock Price Has Increased By 21%. Here’s what happened

    BrainStorm Cell Therapeutics Inc. (BCLI) recently reported positive data, evaluating Cell therapy NurOwn or MSC-NTF cells as a treatment for progressive multiple sclerosis. The company stated that its phase two study observed improvements in secondary endpoints including diminishing inflammatory mechanisms, promoting repair and neurological functions.

    A total of 20 patients were enrolled, out of which 18 were treated and 16 (80%) completed the clinical trials. However, two patients were excluded due to procedure-related adverse events. At no point did multiple sclerosis worsen and no co-relation of patient death with the treatment was concluded. Such positive data peaked investor interest with BCLI stock surging an approximate 21%.

    However existing safety data of the recent study of NurOwn does not provide adequate effectiveness results to support the therapy’s approval, the U.S. Food and Drug Administration (FDA) stated in an initial statement.

    About BrainStorm Cell Therapeutics Inc, NurOwn, And Progressive MS

    BrainStorm Cell Therapeutics, Inc. (NASDAQ: BCLI) is a manufacturer for adult stem cell therapeutics for neurodegenerative diseases such as MS and holds the rights for producing and commercialization of NurOwn® technology holding a worldwide licensing agreement.

    NurOwn technology targets disease pathways for neurodegenerative disorders by producing MSC-NTF cells from bone marrow that have been differentiated into a different cell, inevitably slowing down disease progression.

    47% of patients on NurOwn treatment showed a minimum of  8-letter improvement in 7 months and 67% showed improvement in cognitive processing.

    With a cash worth of US$42M and market capitalization of $252M, BCLI has had a stagnant increase in revenue and has the capability to increase company valuation via share dilution. However high-speed cash burns may indicate a weak balance sheet and volatile share prices may depict unstable growth for the company.

    Conclusion

    BrainStorm Cell Therapeutics Inc. (BCLI) has invested in a very lucrative market of Cell therapy NurOwn especially during the time of a pandemic. BCLI has pioneered gene cell therapy for neurodegenerative diseases such as MS and approval by FDA may prove to be extremely significant in increasing the company’s valuation.

  • Find out why Riot Blockchain Inc. (RIOT) is seeing gains today

    Find out why Riot Blockchain Inc. (RIOT) is seeing gains today

    Riot Blockchain (NASDAQ: RIOT) stock surged by 5.85% in the recent trading session leading to the stock price of $53.05.

    The rise in the RIOT stock is correlated to the bullish movement in cryptocurrency Bitcoin (BTC).

    Riot Blockchain was not always a Blockchain

    Initially, Riot Blockchain started as a diagnostic equipment maker company in the year 2000. However, the business did not have much success. 17 years later, the company shifted its focus from medical equipment producer to a BlockchainCompany as it stepped into the crypto industry.

    The company has acquired high-powered mining systems and sophisticated algorithms for crypto-mining and the creation of Bitcoins. IT specifically approaches the mining concept through a category is known as proof-of-work (PoW) mining. PoW mining companies have to compete with other companies to acquire Bitcoins through solving complex algorithmic puzzles.

    How Bitcoin influences the stock value of crypto-mining companies and currencies

    The reason for BTC to soar is because of the very recent announcement by the “TechnoKing” of Tesla; “You can now buy a Tesla with Bitcoin” Elon Musk tweeted at 3 am EST Wednesday. Similarly, Chair of the Federal Reserve, Jerome Powell praised the biggest cryptocurrency. Jerome said that BTC resembles a speculative asset which can substitute gold rather than for the dollar which does not have intrinsic value.

    Whenever Bitcoin rises or falls due to major news, it influences the movement of many crypto-coins especially Ethereum, and along with it the stock value of crypto-mining companies. Riot Chain is a small company compared to other Blockchain companies. However, RIOT has the advantage of being one of the few publically traded cryptocurrency companies.

    How does this affect the outlook for RIOT stock?

    Essentially, RIOT stock is classically influenced by the momentum of the Bitcoin’s performance.  This phenomenon can work both in favor and against the company’s stock movement. Wall Street analysts predict that since the stock’s fundamental lacks innovation and sees an increased number of competitors, it will lose 54% of its value by next year.

    However, a lot of investors and businesses like TESLA are leaning towards the cryptocurrency’s play in this era of digital wallets and online transactions. Many hedge funds and financial institutions are allocating their portfolio to cryptocurrencies. Mastercard (MA) and PayPal (PYPL) have already integrated cryptocurrency in their financial network for the medium of exchanges.

    Overall, cryptocurrency does not seem to be going anywhere as its foundation seems bold; it is possible to witness bullish trends for it in the near future while expecting periodic drops in the value.

  • Second Sight Medical Inc. (EYES) stock plunges in current market trading. Here’s to know why?

    Second Sight Medical Inc. (EYES) stock plunges in current market trading. Here’s to know why?

    Second Sight Medical Inc. (NASDAQ: EYES) stock shows a decline of 19.98% in the current market trading session after EYES announced that they have signed a definitive securities purchase agreement with accredited investors. Second Sight Medical is known for manufacturing and marketing implantable visual prosthetics for blind individuals to give them artificial vision. EYES has also dedicated its services towards developing efficient technologies for sight-impaired individuals.

    So what?

    Second Sight Medical has signed the agreement with accredited investors with the purpose of a private placement which will possibly earn EYES a net capital of $27.9 million before cutting the expense of the placement offering. At a price of $6.00 per share, Second Sight will sell 4,650,000 shares of common stock. The end date for this private placement is set for March 26, 2021, prior to customary closing terms. The Company expects to use the gross profits from the private placement to provide working capital.

    The issue arises because,

    The securities offered and sold by Second Sight in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the “SEC”) or an applicable exemption from such registration requirements. Second Sight has agreed to file a registration statement with the SEC covering the resale of the shares of common stock to be issued in the private placement. Any resale of Second Sight’s shares under such resale registration statement will be made only by means of a prospectus.

    The securities marketed and issued in the private placement by Second Sight have not been licensed under the Securities Act of 1933, according to the amendment made or state securities laws, but it may not be offered or sold in the Market unless it gets registered with the Securities and Exchange Commission or excluded from registration requirements. As well as today, EYES launched a current report on Form 8-K which is to give an update on its already declared proposed transaction with Pixium vision.

  • Viacom CBS Inc. (VIAC) stock declines during current market. Why is it so?

    Viacom CBS Inc. (VIAC) stock declines during current market. Why is it so?

    Viacom CBS Inc. (VIAC) stock declined by 9.06% in previous trading close while the VIAC stock price continues to fall in the current market session by 14.85% after Viacom CBS announced the pricing of concurrent offerings of its Class B common stock. An American multinational mass media company ViacomCBS was created on December 4, 2019, when the second incarnation of CBS Corporation and the second incarnation of Viacom, which were separated from the first incarnation of Viacom in 2006, combined together. Viacom CBS focuses on creating good quality content for its audience around the world.

    What is happening?

    ViacomCBS Inc. today revealed the pricing of 20,000,000 shares of its Class B common stock, par value $0.001 per share, at an initial public offering price of $85.00 per share, and also 10,000,000 shares of its 5.75 percent Series A Mandatory Convertible Preferred Stock, par value $0.001 per share at an initial public offering price of $100.00 per share, with a preferred stock of $100.00 per share. VIAC has also provided the underwriters with a facility of additional 30-day options to buy up to 3,000,000 more shares of class B common stock 1,500,000 shares from Mandatory Convertible Preferred stock which is to cover the over-allotments in case it is present.

    Now what?

    This offering from VIAC is expected to finalize on March 26, 2021, depending on certain customary closing conditions. Also, the approximate idea about the capital that will be generated from the offering says that $1.67 billion will be generated from VIAC Class B common stock offering whereas $983.09 million would be the net proceeds from Mandatory Convertible Preferred Stock. While in case the underwriters utilize their options in full the net capital will be $1.93 billion and $1.13 billion for Class B common stock and Mandatory Convertible Preferred Stock, respectively. This is the approximate calculation after cutting the underwriting discounts and commissions and estimated offering, in both the cases mentioned above. ViacomCBS intended to use the net proceeds for general corporate purposes that also include investments in streaming.

  • Alithya Group Inc (ALYA) stock soared in the current market; here’s why

    Alithya Group Inc (ALYA) stock soared in the current market; here’s why

    Alithya Group Inc (NASDAQ: ALYA) stock price movement ended on the last session at $2.45. It recently traded at $2.36 which is a 4.08% drop in the ALYA stock’s price. The current market surge caused more than a 15.74%% positive movement in the stock price.

    The recent surge in the ALYA stock comes possibly due to investors reacting to the news of Alithya Group Inc.’s (ALYA) acquisition of a private Quebec firm- R3D Conseil.

    Insight on Alithya’s operational bases and company background

    Alithya Group Inc (ALYA) is an information technology company specifically for strategy and digital transformation company. It is considered the North American leading IT Company for its field. The company has a workforce population of 2,200 professionals. ALYA’s operational base and services portfolio consist of business solutions, business analytics, application services, and business strategies.

    ALYA implies a set of adaptable and moldable strategies, tools, and solutions to meet up the customized needs of customers. These services range in a plethora of fields consisting of manufacturing, financial services, healthcare, government, logistics, and professional services.

    Acquisition of R3D ConseilInc by Alithya Group Inc.

    R3D is also an IT company that provides consultation to its clients for integrating their business models with IT services and sector.

    The acquisition transaction between the two companies is a definitive agreement that will consist of a volume commitment of C$600 million as an annual minimum. These volume commitments were made by R3D Conseil’s indirect shareholders known as Quebecor and Beneva during the initial 10-year term commercial agreements.

    Why this acquisition transaction is significant for ALYA stock

    Paul Raymond, Chief Executive Officer announced the detailed framework of this transaction. Acquisition will allow for 600 experienced Quebec-based professionals to work with Alithya (ALYA). These specialists will be working specifically in consultation and digital application development in the above described operational portfolios of ALYA.

    Along with these 600 existing clients of R3D, there will be 350 more jobs added in Quebec for Digital Transformation Experts that will tag along in the telecommunications and insurance sector. Furthermore, Quebecor and Beneva will now be official business partners of the merged Alithya Group Inc. (ALYA) and each will hold 11.9% Alithya’s share capital.

    The transaction of this acquisition is expected to be finalized and closed during the end of the first financial quarter of 2022. This acquisition will bring together 2 main shareholders/investors as well as 2 leading IT solution companies together. ALYA has yet to announce how it plans to expand its operational fundamentals considering that it is adding into its workforce an arsenal of 600 Quebec-based IT experts.

  • IMAC Holdings, Inc. (IMAC) stock is falling today. Things you need to know

    IMAC Holdings, Inc. (IMAC) is an orthopedic treatment provider in medical advancements and care regeneration centers in the U.S. IMAC stock saw a downtrend of 5.78% today to drop at $1.63 a share as of this writing. IMAC Holdings recently announced the pricing of the public offering of its common stock. Let’s deep dive to explore more of it.

    What’s happening?

    IMAC has announced a public offering price of $1.60 per share for 10,625,000 shares of its common stock for gross proceeds of $17.0 million. The net proceeds are estimated to be approximately $16.0 million after deducting underwriting discounts. The IMAC holdings along with its co-founder and chief operating officer have the grant of 45-day option to buy up to 15% shares of its common stock under this offering. The offering will close probably on March 26, 2021.

    IMAC stock is planning to use the net proceeds to meet the expenses related to the acquisition of medical clinics and in the launching of its healthcare clinics, to finance outstanding promissory notes, to meet expenses related to the development of new potential treatments in the future, and for general corporate purposes.

    A Financial look at IMAC stock

    In the first week of March 2021, IMAC stock reported its 2020 financial results in which IMAC recorded total net patient revenue of $12.8 million in the fourth quarter which was 15% less than the $15.1 million of prior year.Net loss was decreased to $5.0 million or $0.45 per share of IMAC as compared to a net loss of $6.5 million or $0.84 per share of IMAC in the same quarter of the previous year.IMAC Holdings had $2.6 million cash at the end of the fourth quarter while it was $0.4 million in 2019.

    Conclusion:

    The penny IMAC stock is still gloomy today in the stock market. Companies like Pfizer and Johnson & Johnson have greatly attracted investors due to the development of the COVID-19 vaccine and the companies working on other ailments have suffered to some extent. In a nutshell, individuals eyeing IMAC stock have to research its balance sheet, fundamentals, and growth prospects before taking any step.

  • Why Support.com, Inc. (SPRT) stock was falling today?

    Shares of  Support.com, Inc. (SPRT) stock were falling today after the launching of investigations against SPRT by many law firms.SPRT stock price was down by 3.59% to drop at $6.17 a share as of this writing. The SPRT stock was gloomy in the previous open market and its closing price was $6.40 with a 9.86% drop. Let’s see what is happening.

    Investigations against SPRT stock

    Things were gloomy for SPRT stock and the recent announcement of investigations against SPRT stock by law firms contributed more pain to the falling stock price. Law firms including Bragar Eagel & Squire, P.C., Rigrodsky Law, P.A.Halper Sadeh LLP, and Moore Kuehn, PLLC have recently launched investigations against Support.com to investigate whether the SPRT has violated federal securities law, or its board of members breached their fiduciary duties in connection to Support’s proposed merger with Greenidge Generation Holdings Inc. The law firms have encouraged the shareholder to contact them to learn more about investigations and their rights.

    Merger Agreement

    On March 22, 2021, Support.com did sign a merger agreement with bitcoin mining company Greenidge Generation Holdings Inc according to which, SPRT shareholders would receive 0.124 shares of Greenidge common stock for every owned share of Support.com common stock. In response to that merger agreement, Support.com shares were traded on massive volumes on March 22, 2021, and the per-share price soared by 231.8%, the highest rise since September 2014.

    Financial Overview

    In the third quarter of 2020, SPRT stock generated $10.3 million in revenue which was 32 percent less than the same quarter of the prior year. The loss was mainly due to the migration of its services to another country. At the end of the third quarter, SPRT stock had $29.7 million cash equivalents and short-term investments as compared to $44.8 million at the same time of 2019.

    Conclusion

    Things are going against the SPRT stock as far as market sentiment is concerned. Let’s see how the management of Support.com will react to these investigations. If things become settle, then there are chances for the SPRT stock to perform well in the future. Hence investors need to be aware of any single circumstance related to SPRT stock.

  • Canaan Creative Inc. (CAN) stock rises during pre-market trading. Here’s to know why?

    Canaan Creative Inc. (CAN) stock rises during pre-market trading. Here’s to know why?

    Canaan Creative Inc. (NASDAQ: CAN) stock declined by 8.32% in the last trading close whereas the CAN stock price rises by 11.16% in the pre-market trading session. Any recent news is not provided as the reason for the rise and fall of CAN stock. Canaan is a computer hardware manufacturing company based in China. CAN mainly deal with Blockchain servers and ASIC microprocessor solutions to be used in the mining of Bitcoin. In the beginning, Canaan used to develop FPGA products through the SHA-256 algorithm.

    What is happening?

    Recently it has been seen that Bitcoin the world’s largest cryptocurrency is getting bigger. On March 11, a 2% increase in the price of bitcoin was recorded which made it to $58,000 per bitcoin. Eventually causing the market capitalization of Bitcoin to reach $1.07 trillion. On the same day, the latest economic stimulus package was signed by President Joe Biden that caused a major rally on Wall Street. The rise in Bitcoin price and the stimulus together caused a major increase in cryptocurrency stocks. This gives an overview of what is recently happening to cause the CAN stock to rise.

    On the other hand, it is being mentioned that Canaan already has orders for around 100,000 Bitcoin machines which means that the rise in Bitcoin price is of more interest for other Bitcoin mining companies than Canaan. Hence these orders have already pushed the company’s capacity to the limit for the rest of 2021 and possibly more than that. It is possible that the rising price of Bitcoin might increase mining demand but Canaan will not be able to meet it unless it also expands its manufacturing capacity.

    Now what?

    We cannot deny to the existing problem of operating at capacity for Canaan therefore it would be irrational to forecast Canaan’s revenue and progress in this year 2021.  Nonetheless, Canaan has shown positive developments but the investors still need to be sure before making any durable investment also because the price of Canaan’s Bitcoin mining machines is also uncertain and can be affected by various reasons.

  • Color Star Technology Co., Ltd. (CSCW) stock rallied in pre-market: Why did it happen?

    Color Star Technology Co., Ltd. (CSCW) stock rallied in pre-market: Why did it happen?

    Shares of Color Star Technology Co., Ltd. (CSCW), a music education service provider and entertainment platform, continued to rise in Wednesday’s pre-market session after recording a gain of 5.45% at the previous closing. CSCW stock price was pushed 59.48 % in today’s pre-market session to reach  $1.85  a share at the time of this writing. There is no particular activity by the Color Star today to explain this rally but it seems that rising Bitcoin price and NFTs speculations are the driving force behind this rise. Let’s see what is happening.

    Tesla accepts Bitcoin as Payment Option

    Recently the Worlds second richest person Elon Musk announced that Tesla will accept Bitcoin as the payment option after which the BTC shares jumped by 5%. The rise in BTC resulted in the gain of many stocks that are somehow associated with cryptocurrency and CSCW is one of them as if we Go back to the previous week, we find the announcement made by the CSCW stock that Color Star made cooperation agreement between Color China Entertainment Co., Ltd, a wholly-owned subsidiary of Color Star, and Doman (HK) Ltd according to which the former will get the blockchain support by the later for Color World APP,  which is an  interactive  entertainment platform of CSCW

    Recent Developments

    On March 11, CSCW has made an agreement between its wholly-owned subsidiary Color China Entertainment and Meadow Films LA Inc. for the production and distribution of large-screen movies.CSCW stock also signed up for the long-term strategic partnership with Guangxi, China-based Yinmiao Culture Development Co., Ltd to work mutually in various areas including, piano competitions, art festivals, offline and online training, sales and production, and many other areas to play a major role in the entertainment industry.

    Conclusion

    Rising Bitcoin prices have driven the CSCW stock price today. Color star has been much in the news for the past couple of weeks due to its recent developments. Color Star management is deeply focused on expanding its business especially in tech fields like Artificial intelligence, augmented reality, and Mixed reality that also points to the designing of NTF based products in the future.