STOCKS TELEGRAPH

Author: ST Staff

  • ErosSTX Inc. (ESGC) stock rises by 23.21% in pre-market trading. Let’s find out why?

    ErosSTX Inc. (NASDAQ: ESGC) stock gained by 4.19% in the last trading close whereas the ESGC stock rises by 23.21% during the pre-market trading session. Any recent news does not follow the rise in ESGC stock price. Eros STX is an entertainment company that deals with the production and distribution of films, digital content, and music to various platforms like theatre, television, and OTT digital media streaming and also to other consumers globally.

    Recent Developments

    • Eros STX, on March 8 announced that an entertainment platform Eros Now, owned by ErosSTX has signed a collaboration with Google cloud. In this collaboration ESGC will use its Artificial intelligence technology for streaming the complete range of Eros Now movies and originals along with the subtitles. Eros Now which is already a well-known digital OTT South Asian entertainment platform has now become the first ones to provide global streaming service with the help of google cloud technologies. Through this step, ErosSTX has managed to modify the previously manual workflow.
    • Another recent positive development for Eros STX is that ESGC along with Amazon Prime has finalized a multi-year first window outputdeal in the Nordics. This announcement was made on March 1, and the deal was effective immediately after that. This agreement builds on ESGC and Amazon prime’s existing multi-territory output partnership, which they signed in the United Kingdom, France, and Italy in 2020.The majority of STX films will continue to be released theatrically in the Nordics by SF Studios, with Amazon Prime Video distributing them in the Pay 1 window throughout the region in Sweden, Denmark, Norway, and Finland. SF Studios and STX recently extended their long-standing output deal, which was first signed in 2015.

    Conclusion

    Following the recent development in ESGC, it is highly possible that the rise in ESGC stock price is due to these recent positive events that happened in ErosSTX. The progressive steps taken by ErosSTX would have definitely gained the attention of investors towards ESGC stock.

  • Here’s Why Hall of Fame Resort & Entertainment Co. (HOFV) Stock Ascended After Hours

    Here’s Why Hall of Fame Resort & Entertainment Co. (HOFV) Stock Ascended After Hours

    Hall of Fame Resort & Entertainment Co. (HOFV) stock soared 94.79% in the after-hours trading session after the announcement of a partnership with Dolphin Entertainment Inc. Moreover, HOFV stock has increased 61.14% over the past 5 trading days.

    About Hall of Fame Resort & Entertainment Co.

    The Hall of Fame Resort and Entertainment Co., established in 2020, is a prominent sport, media, and entertainment enterprise that is headquartered in Canton, Ohio, United States. The publicly traded HOFV came into existence as a result of a merger between Hall of Fame Village LLC., powered by Johnson Controls, and Gordon Pointe Acquisition (GPAQ). HOFV is led by the experienced executive, Michael Crawford. It is a platform that continuously allows for the development of a unified destination Hall of Fame Village resort in Ohio. HOFV has envisioned itself to create an entertainment company and one of a kind resort that pursues excellence in whatever they do.

    Agreement with Dolphin Entertainment

    On 23rd March 2021, HOFV signed a partnership agreement with Dolphin Entertainment, a leading PR and marketing communications agency in the United States, to offer NFTs (Non-Fungible Tokens). NFTs will allow professional football and entertainment sports fans to sell and buy exclusive content developed by HOFV and partners. The partnership agreement is another way for HOFV to create revenue from its flourishing media division. Michael Crawford, the CEO of HOFV, said that this partnership will provide them with another prospect to unlock additional value from the media projects that are under development. This partnership is a reflection of how the demand for this new form of purchasing digital media and art has increased. The first offering of NFT is expected to be connected to HOFV’s H2H (Heisman 2 Hall), which represents the only 10 athletes that have been inducted into the pro Football Hall of Fame and have won a Heisman trophy.

    The effect of partnership on HOFV stock

    After the announcement of a partnership with Dolphin entertainment, the price of HOFV increased 94.79% in the after-hours trading session. The price went up to $7.86 from a closing price of $4.03. HOFV stock’s price has also been soaring the past 5 days and has increased 61.14% from $2.50 on the morning of 17th March. The fourth quarter results have also been announced by HOFV recently where they reported 4% revenue growth and $14.6 million loss in the fourth quarter.

  • Sphere 3D Corp. (ANY) stock price gains during pre-market. Let’s find out why?

    Sphere 3D Corp. (ANY) stock price gains during pre-market. Let’s find out why?

    Sphere 3D Corp. (NASDAQ: ANY) stock declined by 12.37% in the last trading close, whereas the ANY stock rises by 12.94% in the pre-market trading session. There is no recent news hitting the media related to the rise and fall of ANY stock price. Sphere 3D Corp works to help people achieve their IT goals with a diverse portfolio of brands, including HVE ConneXions, UCX ConneXions, and SnapServer.

    Recent past developments

    NOTICE FROM THE NASDAQ STOCK MARKET

    On February 23, Sphere 3D announced that they had received a notice from The NASDAQ Stock Market mentioning that the Nasdaq Listing Qualifications staff had issued a public letter of reprimand to Sphere 3D due to the failure of Sphere 3D to meet the demands of Listing rule 5620 when it was not a foreign private issuer as well as couldn’t depend on home country practice as a second option to Quorum Rule.

    Also mentioned that Sphere 3D bylaws needed a quorum of a minimum of 25% instead of the 33 1/3% threshold, which is needed for an issuer on a domestic level as per the Quorum rule. They emphasize that Sphere 3D was not eligible as a foreign private issuer during 2018. 2019 and 2020 have caused a major rule violation. Also, Sphere 3D did not fulfill the criteria of 33 1/3% quorum threshold at its annual meetings, which took place in December of 2018 and 2019. Now on January 1, 2021, Sphere 3D has again qualified for the foreign private issuer’s status. Hence ANY is planning to once again depend on home country practice instead of the Quorum Rule.

    TERMINATION OF AGREEMENT BETWEEN SPHERE 3D AND RAINMAKER WORLDWIDE

    A definitive share purchase agreement was announced between Sphere 3D and Rainmaker Worldwide, but the deal has been called off due to unfulfillment of requirements. The agreement was about the acquisition of Rainmaker Holland BV, which is a subsidiary owned by RAKR. It was being mentioned that both ANY and RAKR put their maximum effort to make it work. Still, it was clear that all requirements could not be fulfilled, including the preliminary regulatory approvals within the timeline accepted by both parties. Despite the termination of the agreement, both ANY and RAKR were not bound to pay any break-fee. Therefore, the uncertainty in ANY stock price may be due to the pat developments in Sphere 3D.

  • Lizhi Inc. (LIZI) stock price has soared 489.23% higher than its 52 week low. Here’s what happened

    Lizhi Inc. (LIZI) stock price has soared 489.23% higher than its 52 week low. Here’s what happened

    LIZI stock price surged up to 489.23% higher over the lowest price of the stock set at $1.95 in a 52-week range. However, the current price level was31.40% lower as a Class Action lawsuit had been filed against LIZI alleging that the company’s registration statement produced misleading declarations and had inadequate disclosure of information. Most investors were encouraged to contact litigation firms for financial compensation.

    However, Lizhi Inc. Quarterly revenue increased by 15% to a staggering $64.4 million. This happened as the estimated number of monthly users of LIZIclimbed from 51.9 million to approximately 58.4 million. LIZI share price had risen up to 31% after the release of the quarterly report. For the full 12 months, revenue increased 27% to $230.3 million, bringing the market capitalization of the company to a whopping $428.96M.

    Will LIZI be successful in remaining competitive?

    The Chinese entertainment company operates audio-based social networks, podcast portfolios, and several audio communities as well as working through a cross-border audio ecosystem. With over 58M regular users, LIZI has also released an ad notifying its users about its expansion into online dating.

    Furthermore, LIZI has revealed that it is working together with ECARX, a dominant automotive intelligence company. Hence further diversifying its portfolio and becoming a major stake holder in several lucrative markets.

    Conclusion:

    LIZI operates in the remunerative field of audio based social networks, automotive software as well as online dating. Its long-term revenue growth and an increasing number of average daily users have proven to anticipate great sales, however recent disapproval by certain investors and litigation problems have plummeted LIZI stocks substantially.

  • Here’s why Mogo Inc. (MOGO) stock surged today

    Mogo Inc. (MOGO) stock’s last trading session ended at $10.29. In recent trading session, the price of MOGO stock surged by 2.04% to $10.50.

    Mogo Inc. (NASDAQ:MOGO) has recently announced its Full Year 2020 & Fourth Quarter financial results. Along with this news, the leading digital wallet and payments company has also announced the acquisition of MokaFinancial Technologies Inc., a leading saving and investing App.

    Announcing Full Year Financial Report and MOKA acquisition

    While releasing its financial report, David Feller, Mogo’s CEO announced that the company has taken some strategic steps towards its business fundamentals that will place them in an advantageous and stronger position. This position he was referring to is the trending adoption of digital wallets and financial health solutions by consumers in USA.

    The major step it is taking to expand its operational business is by entering into the market of Canadian Wealth Management Industry which is worth $4+ million. For this, Mogo Inc. is seeking to acquire Moka Financial Technologies Inc.

    The significance of acquiring Moka Technologies Inc

    This acquisition will allow for the addition of Moka’s half-a-million members to increase the Mogo’s member base by +1.7 million. The 100% acquisition will be an all-stock transaction. Mogo Inc. aims to solidify the base of its MogoWealth wallet app by integrating Moka’s more than $250 million Assets Under Managements (AUMs) and management portfolios.

    Furthermore, the merger will boost the planned initiation ofMogo’s(MOGO) free stock trading solution for Canadians. This will leave an impression for Canadian and European customers of MogoWealth’s digital wallet capabilities. This goes well with the already one-click user-friendly app of Moka; users are not required to have any mandatory financial knowledge and investment minimum limit. Simply link debit or credit card with the app to directly start investment or saving.

    Insight into the Full Year 2020 and Fourth Quarter Report

    This explains Mogo’s (MOGO) operational strategy, now let’s see how its financial results have performed in the past quarter and year.

    MOGO added more than 50% of new customers compared to Q3 2020. The Full Year revenue was $44.2 million which was $15.6 million short from 2019’s $59.8 million. However, this was because the company had intentionally downsized its lending activities and growth investments due to the pandemics in Q2.

    This downsizing did counter the foreseen loss and reduced the net loss to $2.8 million in the Fourth Quarter as compared to $6.2 million in the 2019’s Fourth Quarter. The cash-on-hand for the Q4 2020 was approximately $30.6 million compared to $27.8 in Q3 2020.

    Mogo(NASDAQ:MOGO) has also made Bitcoin business endeavors. Up till the Q4, the company had acquired approximately 18 bitcoins at an average purchase price of $42,079 per bitcoin. This significantly showcases Mogo’s (MOGO) cryptocurrency investment portfolio that includes MogoCrypto and investments in Canada’s premier cryptocurrency company known as Coinsquare.

    Overall outlook for the MOGO stock

    Overall, Mogo’s CEO (David Feller) announced 2020 as a transformational year for its business and financial operations. Furthermore, David Feller has stated expectations for 2021’s outlook which includes 80% to 100% growth in Q4 in subscription and services revenue compared to Q4 of 2020.

    Investors need to keep an eye out for the Insurance company’s investment in the Bitcoin and cryptocurrency as the volatility of this digital currency will significantly impact the MOGO’s stock value and EPS.

  • Why Seneca Biopharma, Inc. (SNCA) stock is falling today?

    Why Seneca Biopharma, Inc. (SNCA) stock is falling today?

    Seneca Biopharma, Inc. (SNCA) reported its financial results of year ended on December 30, 2020, after which the SNCA stock price saw a downtrend of 8.8614% today to drop at $1.841 a share as of this writing. Seneca stock was up by 23.17% at the previous closing with a $2.02 per share price.Let’s have a look at SNCA’s earnings report.

    Financial Results of 2020

    According to the report, Seneca suffered a $10.7 million operating loss for the year ended on December 30, 2020, which is significantly higher than the operating loss of $8.6 million in 2019.General and administrative expenses are mainly responsible for this increase as SNCA expanded its management structure to meet its objectives as well as professional fees for the proposed merger in 2020.

    Net loss in 2020 surged to $16.3 million or $1.17 per share nearly double the net loss of $8.4 million or $3.80 per share in 2019.The reason for this increase is partiallythe same as discussed for operating loss and partially due to $5.6 million of non-cash expense in connection withthe January 2020 warrant inducement offering.

    As of December 31,2020, Seneca had cash of $10.5 million as compared to $5.1 million at the end of the previous year.

    Business Developments

    It seems that Seneca Biopharma has continued its development over the year. SNCA entered into the definitive merger agreement with BioSciences, Inc. (LBS), completed offerings of over $14.7 million, completed the last subject’s follow-up assessment of its non-GCP Phase II trial for NSI-566 to treat chronic ischemic stroke, and succeeded to license NSI-189.

    Conclusion:

    Things are going against the penny SNCA stock as far as market sentiment is concerned but no one knows how long this situation will persist.Yearly results have shown the increase in operating as well as net losses for the SNCA stock while business development suggests that SNCA stock has grown over the year.It is better to practice to research the company’s fundamentals, balance sheet, and recent as well as future developments before taking any decision.

  • Frequency Therapeutics Inc. (FREQ) stock tanks 73%. Here’s to know why?

    Frequency Therapeutics Inc. (FREQ) stock tanks 73%. Here’s to know why?

    Frequency Therapeutics Inc. (NASDAQ: FREQ) stock gained by 5.96% at the end of last trading session while the FREQ stock is currently down by 72.44%. Today, Frequency Therapeutics has announced its new data from Two FX-322 clinical studies, planning to modify the single-dose regimen. FREQ is highly known company for the development of drugs which could activate progenitor cells in the body for the treatment of degenerative diseases.

    Now what?

    Frequency Therapeutics released its topline, day-90 data of its FX-322 Phase 2a trial (FX-322-202). The initial findings indicate that four weekly injections in patients with moderate to relatively serious sensorineural hearing loss (SNHL) did not boost hearing measures as compared to placebo. Comparatively, Frequency Therapeuticsalso reported new results from a separate study that found that a single injection of FX-322 enhanced hearing. FX-322 will be developed further as a single injection treatment, according to the company.

    Findings of the phase 2a study

    FX-322 is designed in a way that it regenerates auditory sensory hair cells in cochlea of the patients suffering from SNHL and improve hearing. For the study, total 95 patients aged 18-65 were called for the experiment. They were tested for hearing enhancement using Word Recognition (WR), Words-In-Noise (WIN), pure tone audiometry, and other exploratory steps in the four-arm Phase 2a sample. All the participants received four weekly intratympanic injections, each of which contained nil, one, two, or four doses of FX-322, with the other injections containing placebo doses.

    In all groups WR Score increased showing that the four time use of injection is causing no benefit to the patient compared to the participants in which single dose was being used. The Phase 2a preliminary results also revealed an unusual degree of obvious hearing gain in the placebo unit, which had not been seen in previous trials and surpassed the expectations, possibly due to flaws in trial design. Therefore no noticeable hearing gain of FX-322 was observed as compared placebo due to the difficulties identified in the Phase 2a study design.

    After this study, that the problem is not with FX-322 but rather they need to improvise their trial design. Repeated use of injections is causing no benefit rather single dose would work better.

  • Plus Therapeutics, Inc. (PSTV) stock is high today. What’s going on?

    Plus Therapeutics, Inc. (PSTV) stock is high today. What’s going on?

    Plus Therapeutics, Inc. (PSTV) entered into the Master Services Agreement(MSA) with Piramal Pharma Solutions(PPS) today after which the PSTV stock price saw an uptrend of  45.26% to reach $3.98 a share as of this writing. Plus Therapeutics gained 3.40% at the previous closing and its per-share price was $2.74. Let’s see what the agreement says.

    MSA with Piramal Pharma Solutions (PPS).

    Plus Therapeutics, Inc. (PSTV) is a clinical-stage pharmaceutical company mainly focused on the treatment of cancer diseases. PSTV today announced its Master Services agreement with Piramal Pharma Solutions (PPS), leading contract development and manufacturing firm, to develop, manufacture, and supply Rhenium NanoLiposome (RNL™) which is an intermediate drug product of PSTV. According to this agreement, PSTV will transfer and perform its analytical methods at PPS’s drug product facility in Lexington, Kentucky along with the development of microbiological methods, intermediate drug manufacturing, and stability studies.

    Future Impact of MSA

    Plus Therapeutics is focused on the advancement of Rhenium NanoLiposome to make it a novel treatment for patients who are suffering glioblastoma, aggressive cancer often occurs in the brain or spinal cord.Plus management thinks that agreement with PPS will fast the process of RNL development and its regulatory approval in the future.

    Financial Overview of PSTV

    On February 22, 2021, PSTV announced its fourth quarter and fiscal year 2020 results according to which PSTV had an $8.3 million amount on hand as of December 30, 2021, as compared to a $17.6 million cash balance in 2019.Operating expenses in 2020 surged to $8.4 million from $5.9 million in 2019.PSTV net loss dropped to $8.2 million in 2020 while it was $11.4 million in the prior year.

    Conclusion:

    Investors are responding to PSTV stock after its master services agreement with PPS for the speedy development of RNL.Plus is expected to complete many clinical trials of its pipeline products in the upcoming quarters.Increase in operating expenses in 2020 suggests that PSTV stock is growing with time.Hence investors having long-term prospects need to keep an eye on it.

  • PEDEVCO (PED) stock is surging today, This could be the reason

    PEDEVCO (PED) stock is surging today, This could be the reason

    PEDEVCO (NYSE: PED) stock surged by 0.65% to end the last session at $1.54. It recently traded at $1.98. The premarket surge caused more than 28% positive movement in the stock price.

    The reason why there is rise in the stock could be related to investors reacting to news announcement of PEDEVCO’s (NYSE: PED) successful new well drillings.

    PEDEVCO’s base of operations

    PEDEVCO (PED) is a publicly traded company that belongs to the energy sector. PED focuses on oil & gas energy projects that it can acquire or potential energy projects for which it can develop strategies. The bases of operations and projects are mainly in USA. The core assets and base of operations for PED exists in San Andreas and Colorado. The company has a HQ in Houston, Texas.

    Recent progress made by PED

    The recent announcement of new well drillings specifies that two horizontal San Andrea’s wells were constructed and drilled. This marked the completion of PED’s Phase II development program. The Company also further announced another progress in the shape of a sale of $1.9 million.

    This sale took place in the D-J Basin and consisted of non-core assets which added the money in the form of cash to the Balance Sheet. Another impressive fact about PED is that it contains over $18 million in cash in its Balance sheet and has absolutely zero debt.

    The details of PEDEVCO’s current and future projects

    The drilling machinery and tools that produce oil for the PEDEVCO are known as Haley 301 and Haley 303. The production rate of the drilling machinery in the wells is known as IP30. For Haley 301 the IP30 consisted of 428 gross barrels for its peak initial production, while for Haley 303 it was 178 barrels.  In percentage of oil, both drill machines procured 84-85% oil.

    PEDEVCO (PED) is in the sweet position of operational finances where it has no debt and gross cash deficit causing any hindrances in its future acquisition of projects. Similarly the current drill operations and projects have been successful which covers the future prospects of PEDEVCO (PED). Moreover, the company is free to execute aggressive strategies to expand its assets and acquire new project development opportunities.

    The investors are quite satisfied with the positive news and fundamentals of the company which is why the surge and investment in the PED stock will continue to see a boom.

  • My Size Inc. (MYSZ) stock declines in pre-market session. Let’s find out why

    My Size Inc. (MYSZ) stock gained by 5.41% in the last trading close whereas the MYSZ stock price declines by 20.51% during pre-market session. On March 22, MySize has made two important announcement, firstly MYSZ has announced a pricing of $3.3million underwritten public offering of its common stock and secondly MySize is about to launch an app for Evropeyskiy Mall. MySize is the developer of unique measurement technology which is based on sophisticated algorithms, cutting-edge technology and also broad applications and has incorporated the apparel, e-commerce, DIY, shipping, and parcel delivery industries.

    RECENT DEVELOPMENTS

    MySize launching an Application for Evropeyskiy Mall

    Evropeyskiy Mall is the largest shopping center in Russia. MySize has planned to launch a user friendly application with the support of Evropeyskiy to provide consumers with an easy online shopping experience allowing them to digitally try on clothing at dozens of stores across the mall, as well as smooth cashier-free shopping through in-app check out.Anyone who will visit the Evropeyskiy Mall will be able to download the MySize ID app, which uses sensors already installed in the smartphones of customers that will provide them with highly precise clothing sizes for any type of clothing.

    MySize and Evropeyskiy Mall with this application are providing the customers with an unmatched shopping experience by combining the online convenience of individually controlled transactions with the in-person retail advantage of being able to leave the mall with an item physically in hand.

    $3.3 million priced, Underwritten public offering

    MySize revealed the pricing of an underwritten public offering, with net amount for the company, calculated to be about $3.3 million before cutting underwriting discounts and commissions, as well as approx. expenses of offering which has to be paid by MYSZ. MySize is planning to use the net amount generated from this offering for working capital and general corporate purpose. Aegis Capital Corp. is working as the only book-runner for the offering.