STOCKS TELEGRAPH

Author: ST Staff

  • SBBP Stock Rising in Premarket. Here’s Why

    SBBP Stock Rising in Premarket. Here’s Why

    Strongbridge Biopharma Plc. (SBBP), a biopharmaceutical company known for targeting rare diseases, saw a declining trend in its share price on Wednesday after the price steadily declined some 0.50% to $1.99. In the pre-market, SBBP stock is regaining the price, as it stands at $2.11, after an increase of 6.03%.

    Q2 financial results

    On the 5th of August, Strongbridge Biopharma released the financial results for the second quarter of the fiscal year 2021, which ended on 30th June. According to the details, the company’s net revenue for the Drug named “KEVEYIS” during the quarter stands at $10 million, as compared to the net revenue of $7.8 million it brought in during the equivalent period of 2020. The cost of sales during the quarter stood at $0.5 million, as compared to the cost of sales of $0.4 million during the equivalent period of 2020, the reason mainly being the increased volume of sales. The selling, general and administrative expenses were $16 million, as compared to the expenses of $9.6 million during the equivalent period of 2020, the main reason being an increase in professional fees. 

    SBBP Year-to-date financial results

    Alongside releasing quarterly data, Strongbridge Biopharma also released Year-to-date financial results. According to those, the net revenue from the sales of KEVEYIS increased by $4 million to $18.4 million, as compared to the net revenue of $14.4 million during the equivalent six-month period of 2020. The cost of sales for the six month period was $0.9 million, as compared to the cost of sales of $1.4 million during the equivalent period of 2020. The selling, administrative and general expenses were $26.9 million, as compared to the selling, administrative and general expenses of $20 million during the equivalent period of 2020. 

    Publishing of open label study

    On the 13th of July, Strongbridge announced that the post hoc analyses for the one-year open-label study evaluating daily use of KEVEYIS was published in the peer-reviewed medical journal “Muscle and Nerve”, with the results confirming that long term treatment with KEVEYIS is safe and effective. “These results reinforce the utility of KEVEYIS as an effective option in treating PPP, a life-long rare, hereditary skeletal muscle disorder that leads to debilitating attacks of muscle weakness”, said Fredric Cohen, M.D, Chief Medical Officer of Strongbridge Biopharma.

    Investigations by law firms

    In recent months, different law firms have announced to investigate a possible breach of the fiduciary duties, with regards to the merger of XERS with SBBP. The merger caused the XERS shareholders to exchange each share of XERS owned for one share of SBBP. Law firms encouraged the investors to share information relating to the breach.

    What’s next for SBBP stock?

     Looking forward, Strongbridge Biopharma Plc. (SBBP) seems well on track to further improve its financial stature in near future. The revenue estimates by analysts for next year stand at $60.92 million. The earning per share for the next year is estimated to increase some 69.20%, hence, the future performance of Strongbridge Biopharmaceuticals could looks set to achieve phenomenal success in the future. Short-term volatility could impart its influence upon SBBP stock, but long-term investors could attain benefits from SBBP stock.

  • How has UniSwap (UNI) coin brought change to the market?

    How has UniSwap (UNI) coin brought change to the market?

    During the start of the crypto market space, the coins were exchanged through centralized platforms. Exchanges like Binance, Huobi made their names from the start. As the market progressed further, different projects were launched to make the exchange easier and accessible. The idea of de-fi spaces came along. The main advantage is the cutting of the middleman during the exchange as opposed to the centralized platforms where the broker is present. Due to this fact, the idea became really popular, and different projects were launched. Currently one of the most popular de-fi application is UniSwap (UNI) coin.

    What is UniSwap (UNI)?

    Uniswap is a Decentralized Exchange (DEX). Founded in 2017 by Hayden Adams it is built on Ethereum Network. The platform allows the exchange of de-fi tokens and ERC tokens as opposed to PanCakeSwap that allows the exchange of BSC coins. The users can provide liquidity in different pools and they are rewarded on the basis that how much have they provided to the pool. If the token isn’t listed on the exchange, you can look for the contract address and add it there to exchange to any other token. You need to connect a wallet to the platform in order to exchange.

    UNI coin Key Statistics

    The total supply is 1B coins, the distribution of the coin is as follows:

    • 60% to the UniSwap community
    • 266% to team members and future employees
    • 044% to investors
    • 69% to advisors

    The UNI token have the following uses:

    • On-chain governance.
    • Staking in pool.
    • Reward for the staking.

    Will UniSwap (UNI) Stay at the top?

    Currently, UniSwap (UNI) is the most used DEX for the exchange of different tokens. With their V3 launching soon we can expect even more applications from the platform. Currently, the DeFi universe is very volatile and has a lot to be done. Many crypto enthusiasts stay away from DeFi as they think that it is a risky investment but the way things are unfolding, we can expect better things from it.

    UNI Coin’s Recent Price Movement

    The UNI token made its ATH on 3rd May 2021 and reached a price of $45 before the downfall. At the time of writing the coin is being traded at a price of $28.688. Currently, the market has had a change of   -3.84% in the last 24 hours and with a total change of +24.28% in the last 7 days.  The coin is ranked 10 on CoinMarketCap.

  • ExOne Company (XONE) Stock Surged 31.89%. Here’s Why

    ExOne Company (XONE) Stock Surged 31.89%. Here’s Why

    ExOne Company (NASDAQ: XONE) stock is up 31.89% in the Pre-market trading session at the price of $22.79 after the release of the second-quarter 2021 financial report.

    XONE Second Quarter 2021 Results

    ExOne, on 11th August 2021, reported the second quarter 2021 earnings report. Revenue recorded was $18.8 million, an increase of 69% year-on-year and 44% sequentially. The net loss was $5.6 million or $0.25 per diluted share during Q2 2021. Net loss of $4.0 million or $0.24 per diluted share was reported in the same quarter of 2020. The gross margin was 26.0% this quarter, compared to 27.8% in the same quarter of 2020. The drop was due to the continued impact of operating inabilities and challenges, driven by the COVID-19 operating environment.

    CEO John Hartner commented that The ExOne Team is proud to release record Q2 revenue results. Extraordinary results are due to market momentum, which remained highest in the company’s history and the binder jet marketplace, he added.

    XONE Participation at the Canaccord Genuity 41st Annual Growth Conference

    On 29th July 2021, XONE declared participation in the Canaccord Genuity 41st Annual Growth Conference, which will be on12th August 2021. It announced that Chief Executive Officer John Hartner and Chief Financial Officer Doug Zemba would perform in a fireside chat format and participate in one-on-one meetings at the conference.

    State-of-the-Art Metal 3D Printing Adoption Center

    XONE, on 8th July 2021, reported the opening of a Metal 3D Printing Adoption Center at its European headquarters in Germany. Eric Bader, Managing Director of ExOne, remarked that European producers have launched ExOne’s Metal 3D Printing Adoption Center in metal binder jet 3D printing. XONE’s Adoption Centers can now print sand molds and cores for metal casting customers. Moreover, they can print metal benchmarks for their metal binder jet engineering consulting services. The purpose of ExOne’s Adoption Centers is to let clients try binder jet 3D printing for their designs before they decide to buy an ExOne 3D printing system for production.

    Metal 3D Printing Adoption Center Delivered 2 Million Parts

    On 16th June 2021, ExOnedeclared that it exceeded the delivery of 2 million metal parts to customers worldwide. Moreover, it had added two X1 25Pro metal printers to encourage the manufacturing of stainless steel parts.

    ExOne’s Metal 3D Printing Adoption Center has been in operation since 2005. These printers are devoted to the 3D printing of 316L and 17-4PHstainless steel alloys. Highly affordable and durable X1 Metal 420i was always the firm’s best-selling metal.

  • Has Bitcoin (BTC) lost its momentum?

    Has Bitcoin (BTC) lost its momentum?

    Bitcoin (BTC) is the flagship and the most traded coin in the cryptocurrency. While purchasing or trading any other coin, it’s usually better to look at how BTC is performing recently because all the cryptocurrencies are highly dependent on it although each coin has separate fundamentals and separate uses.

    BTC has reached its ALL-TIME HIGH to a value of nearly64k and from there it can be seen that it has pushed down quite impulsively. Some consider it due to Elon influence on it while some believe that this is how the market moves which is to move in waves and consider waves to be healthy for the market.

    In the past we can see from 12 December 2020 to 14 February 2021, the market was clearly in the hands of bulls leaving the price from $17k to eventually $58k, and onwards from that BTC did push up to $64k but the market was not quite impulsive as it was before so we could have expected the price to fall.

    Did Elon Tweet cause the Bitcoin crash?

    Elon made a tweet regarding tesla and BTC and said that Tesla is no more accepting BTC as a form of payment which resulted in the drop of the market. The fact that the market had already showed weakness in its momentum, the influential news made the price fall rapidly.

    Now recently if we were to look at how BTC is performing and what can we expect, charts can be looked at to find what the market is telling and what can be expected.

    Bitcoin (BTC) behavior

    If we see in the past when the market was making Higher Low, Higher High it was respecting the trendline clearly, and when it broke down, a clear push to the downside came, obviously there were more confluences but we will not look into that rather at the current price and confluences. Now in the recent move to the downside i.e. the market was respecting the descending trend line and it did exactly the same but to the opposite. So can a push to the upside be expected?

    BTC Price Prediction

    The market has broken the major resistance of $40k quite impulsively showing that the bears are no more interested in that level. Besides that, if we mark over market structure we can see that the market has broken the previous structure giving us a sign of reversal, or you can consider it as a breakout of consolidation having parameters of $40.6k as the roof and $29.6k as the floor.

    BTC Price Prediction

    But this means we can go long now? Obviously NO! as mentioned that many believe that waves are necessary for the market to stay healthy so it can’t be ignored, a recently extreme huge amount of buyers are in the market so sellers must enter in order for the market to move more up.  So a Fibolevel to the nearest resistance from where the price can fall, we can expect it to drop around 0.50 to 0.682 Fibo and from there if we see a shift in market structure and loss in momentum we can go for long!

    What’s Ahead for Bitcoin (BTC)?

    The market can fall down to a price of $44.3k and if it doesn’t hold $40k is a possibility. Bears are also quite skeptical, but as long as D, 5D remains bullish we can believe BTC to be stable for the time being.

  • Sonos Inc. (SONO) ‎Stock Rising in Premarket. Here’s Why

    Sonos Inc. (SONO) ‎Stock Rising in Premarket. Here’s Why

    Sonos Inc. (SONO), a manufacturer of audio related products, saw a decrease in its share price on Wednesday. SONO stock price decreased by 1.16%, and hence, fell to $34.80. Currently, in the premarket, the SONO stock is gaining, with an increase of 10.78%. The share price stands at $38.55.

    SONO Stock Q3 financial results

    The gain in SONO stock price is seeing an increase in premarket after the company announced record results for the third quarter of the fiscal year 2021. According to the details, the company generated revenue of $378.67 million for the quarter ended July 3rd, as compared to the equivalent period of 2020. During the 9-month period of fiscal 2021, the company has generated revenue of $1.35 billion, as compared to the revenue of $986.4 million in the equivalent period of 2020. The total operating expenses for the quarter stand at $161.13 million, as compared to the operating expenses of $166.7 million for the equivalent period of 2020. The operating expenses for the 9-month period of 2021 stand at $476.55 million, as compared to the operating expenses of $453.08 million for the equivalent period of 2020. All in all, the company’s handsome quarterly and 9-month performance has a positive impact upon the performance of SONO stock.

    Partnership with Liverpool FC

    On Tuesday, SONO stock administration announced that the company would partner with Liverpool football club for the enhancement of the sonic experience at Anfield, the club’s home stadium.  This partnership is Sonos first partnership with any sports body, as the company looks to enhance the listening experience of people around the globe, making it more simple and joyful. “There’s a clear harmony between LFC and Sonos, we both share a great passion for the soundtrack of our experiences”, said Matt Scammell, the commercial director at Liverpool FC on the occasion.

    Partnership with North Face

    On July 26th, SONO stock announced to enter into a partnership with The North Face, a retailer of high-performance climbing and backpacking equipment, in celebration of the new Sonos Roam. It is a device meant to deliver some great sound experience at home and during the adventure. “What our partnership with Sonos unlocks is a completely new avenue for storytelling, with a brand that shares so many of our values”, said Global vice President of Marketing and Product of the North Face.

    Q2 financial results

    In mid of May, the company announced the financial results for the second quarter of the fiscal year 2021. According to the results, the revenue for the quarter that ended 3rd of April was $332.9 million, as compared ‎to the ‎revenue of $175 million during the equivalent period of 2020. ‎The total operating expenses during the quarter stood at $153.38 million, as compared to the operating ‎expenses ‎of $126.21 million during the equivalent period of 2020.‎

    What lies ahead for SONO stock?

    The financial performance by SONO stock suggests that it could gain further in near future, because of the fact that the COVID pandemic impacted the performance of the company severely, but as the government had softened the restrictions, the company’s financial performance is well on rising, and it is hoped that it would continue to be so in near future. All of these events could directly impact the SONO stock performance, so, potential investors should keep a close watch on SONO stock.

  • Coupang, Inc. (CPNG) Stock Plummeted 9.09%. Here’s Why.

    Coupang, Inc. (NYSE: CPNG) stock is down 9.09% in the pre-market trading session at the price of $33.82 after the release of the second-quarter 2021 report.

    SMEs on Coupang’s Marketplace Recorded 87% YoY Sales:

    CPNG stock, on 11th August 2021, declared that small and medium-sized enterprises (SMEs) on the company’s marketplace increased their sales 87% YoY in the second quarter. In comparison, a decline of 7% is seen in SME offline sales in Korea during that period.

    This high sales growth is a result of the company’s dedication to helping small enterprises. Hundreds of thousands of small traders are making their living on Coupang. They constitute almost 80% of the company’s total sellers. Coupang, to support their success, provides them onboarding support and training. Moreover, support their marketing and promotional activities to help them grow their businesses. This year alone, Coupang has allocated nearly $350 million to small businesses in Korea, working along with the government and local authorities.

    Chil-sik Yang, CEO of wet tissue manufacturer Soonsu Korea, remarked that working with Coupang has helped them create more jobs. Moreover, the sales have increased nine times, and the staff has quadrupled since they started working with Coupang, he added.

    CPNG Stock Second Quarter Revenue Growth:

    On 11th August 2021, CPNG published financial results for its second quarter ended 30th June 2021. The report recorded revenue of $4.47 billion for the Q2 ended 30th June 2021. Net revenue of $2.6 billion was reported for the same period of 2020. Total net revenues kept growing at a multiple of the Korean e-commerce segment. The growth was 71% on a reported basis and 57% on a constant-currency basis. Gross Profit reported for the second quarter was $658 million, a 50% year-over-year growth. Gross Profit increased 86% year over year to a record $816 million. Coupang recorded a net loss of $518.6 million this quarter, compared with a net loss of $102 million in the previous year’s same quarter.

    CEO Bom Kim, Mainstage Speaker at the 2021 FORTUNE Global Forum:

    CPNG, on 7th June 2021, declared that founder and CEO Bom Kim would be a mainstage speaker at the 2021 FORTUNE Global Forum. This event was held from 8 to 9th June 2021 and had a focus on Redefined Leadership. It brought the world’s top business leaders, policymakers, and experts to one platform to discuss the principal issues molding global business. Speakers shared the leadership lessons they have learned following the most disruptive period in modern history, intending to tackle the current global challenges and build a better future.

    CPNG Stock First Quarter 2021 Results:

    CPNG, on 13th May 2021, published financial results for its first quarter ended 31st March 2021. Total net revenues grew 74% year over year to $4.2 billion in the first quarter of 2021. Net loss was $295 million in the first quarter of 2021, which increased to 23.8% of total net revenues from 20.9% in the prior year’s quarter. Gross profit increased 70% to $733 million in the Q1 of 2021, and the gross profit margin was 17.4% compared to 17.8% in the last year. The change in gross margin was due to increased investments to extend new offerings.

  • Will VeChain (VET) coin gain momentum at this point?

    Will VeChain (VET) coin gain momentum at this point?

    VeChain (VET) coin has been long in the upward channel after it broke from structure at $0.05. The coin failed to create a lower low and instead printed a momentous green candle on the Daily Time Frame confirming the reversal of the market. The coin is currently ranging between a trend line that can be seen on the chart. VET is being traded at a price of $0.11, nearly more than 100% increase in the price from the point of reversal. The price action is efficient currently and it shows that the market has been steadily rising to create higher highs.

    VeChain (VET) Coin Technical Analysis

    VET coin is currently moving in the upward channel showing resistance from the trend line at $0.11. Currently, the market is trying to break this level and can act as a support if it flips. The most recent support for the coin is at $0.10.  On the daily time frame, we can see the formation of two order blocks, one at $0.097 that can act as a support zone and at $0.16 that can act as a resistance zone. If the coin breaks out of the trend line the $0.16 zone can be used to take profits as pullback can be expected from that point. Other points of interest can be $0.12 and $0.129 that can be used as an intermediary zone for longing and shorting as the market can range between these points.

    VeChain (VET) Coin Technical Analysis
    Figure 1. Technical Analysis Chart

    One Hour TF

    On the one-hour time frame, it can be seen that the market is currently touching the upper trend line and is moving towards squeezing, The RSI div shows the same uptrend. Pullback can be expected, with entries around $0.90 that can help VET coin to bounce from the zone. The Fibonacci retracement of 0.68 also shows the area of order block. But care should be taken and lower time frames should be consulted to notice the trend reversal at the order blocks. If $0.90 doesn’t hold we can see it dropping to $0.6.

    One Hour TF
    Figure 2.One Hour TF Chart

    It can be expected that VeChain is ready to fly, with TP at $0.16.

    About VET Coin

    VeChain (VET) was developed to allow easy adoption of block chain. The network is made to help sustainable and scalable businesses. VET Coin is also targeting China’s pet food industry and currently is in talks with the market and industry leaders to solve the problems with the block chain. VeChain is also working on PoA 2.0 that was successfully tested on testnet. The current market supply of the coin is 64.32B coins. The currency is ranked at 21 on CoinMarketCap.

  • What is IoTeX (IOTX) coin and Why is it Mooning Like Crazy?

    What is IoTeX (IOTX) coin and Why is it Mooning Like Crazy?

    IoTeX (IOTX) coin surged a whopping 194.24% in a single day. The trading volume has had a jump of an amazing 1355.13% in the last 24 hours. IOTX coin has created its ATH today and reached a price of $0.1.5 after its run from $0.02 two days back where it showed an explosive move towards the upside. The coin is currently being traded at a price of $0.089 and is in its price discovery phase.

    Before the impulsive move, IOTX coin was ranging between $0.022 and $0.015 and was consolidating for a long time. The coin has built nice support in this zone. IoTeX broke out of the zone on 6th August 2021 and made a higher high as the bulls took the hold resulting in an amazing run.

    New Listings and News

    This leg up came after the news about the IoTeX that the IOTX coin is to be listed on CoinBase. It has been previously seen that the coins have showed an increase in the past whenever they were listed on new platforms. IoTeX has done the same, as listings are an important milestone in coin development. This results in more traffic and uses as new people can now exchange the coin on the respective platform.

    IOTX coin has had an amazing journey in the past month with a 600% growth in the holders. According to the monthly update they were also listed on BitMart, Bittrex, and CoinEx.  The network has also been updated to mainnet v1.3. The company has been super busy releasing amazing new features.

    The total supply is 10B coins of IOTX coin. Currently ranked at #87 on CoinMarketCap. The company was audited by CertiK and SlowMist. IoTeX scored 93 out of 100 according to CertiK.

    About IOTX Coin

     

    IoTeX (IOTX) is a company that’s working on the internet of things. Smart Devices are being used more and more ranging from our smartphones to Televisions. Estimate shows that in 2030 that there will be around 100 Billion Devices. The IoTeX connects the users with their devices in such a way that protects your privacy with data ownership. Companies have been found to use our data and sell it to further clients. IoTeX eliminates all this and directly connects the users to their devices in a seamless way. The company has its members receive many notable posts in different industries regarding blockchain and the Internet of Things.

  • Latest Poly Network Hack is the Largest Theft to Date

    Latest Poly Network Hack is the Largest Theft to Date

    On August 11th, 2021, the biggest hack and exploit of the crypto market took place. Poly Network responsible for the cross-chain de-fi platform was hacked and more than $611M have been taken by the hacker. The hack was caused by exploiting a vulnerability between contract calls. This level of hack is the biggest hack in the crypto market. The network announced the details about the hack at 6:36 in the morning according to the GMT time. Assets including $BUSD, $USDC, $USDT, $WBTC, $ETH were taken to the hacker’s wallet.

    The HACK and the Addresses

    According to the data on Etherscan and bscscan, the exploiter address has been tagged with a heist and exploit. After the exploit was done the hacker tried to move the $USDT to a liquidity pool on a curve.fi but the transaction was rejected. At the same time around $100M have been moved out to the liquidity pool Ellipsis Finance. According to the Slowmist a China based blockchain the hack was preplanned and well organized. The Hack has raised questions on the Security Firm that audited the Networks’ Security.

    How Poly Network Responded?

    Poly Network has written a letter to the hacker through its social media platforms to kindly return the funds and asked the person to work as a white-hat hacker and bring positivity to the network. (Not sure if the hacker has plans to work that way).

    Poly Network contacted different platforms and miners to help them. In its response, the Tether froze the $33M funds in the hacker’s account. Binance also came forward and said that they would help as much as they can but no guarantees can be given at the moment.OKEx has also came forward saying that they are monitoring the flow of coins and they will do their best to manage the situation. Huobi has also taken notice of the situation.

    Crypto Hack History and the Future

    This isn’t the first time that crypto market has been exploited. $Sparta was also exploited a few months back and huge amounts of funds were stolen. After that the coin was migrated to a new contract address.

    Many people have raised speculations regarding the freezing of funds by the Tether, saying that it is morally correct to freeze the funds but goes against the decentralization the community is hoping for. Amidst the regulations and crackdowns on the crypto market this hack certainly isn’t a good news for the whole community as well. This news may be used against the market in the future and may hinder the process for its adoption.

  • ELROND (EGLD) coin on a Verge of a pullback or is it going to continue the run?

    ELROND (EGLD) coin on a Verge of a pullback or is it going to continue the run?

    Elrond (EGLD) has showed that its coupled with the movement of BTC and had fallen to its low after the crash. The coin went to its ATH on 12th April 2021 and had a price of nearly $245 before falling to its demise and started a bearish trend after it failed to create a Higher High. EGLD is currently being traded at a price of $139.50. The coin had showed an impulsive move from the start of August where it was consolidating between the price of $80 and $90. Fast forward to a few days the coin has showed momentum and now it is trading at the same price as it was in May before BTC had fallen down to $29k. The coin has an increase of 7.90% in the last 24 hours and an overall increase of a massive 40.23% in the last 7 days.

    ELROND (EGLD)- Technical Analysis

    EGLD was ranging in a descending channel, continuously making lower lows. Around $65 EGLD has strong support from where it had an impulsive move back in February and had bounced from it too after that. The coin broke the downtrend on 3rd August when it broke out of the channel and broke the previous Lower High as well, confirming a trend reversal.

    An important zone to consider is the price where the EGLD coin is ranging currently. We can see that from $139 we saw a momentous drop on 18th May. This zone is a supply zone and hence a major resistance is in place. We can expect a pullback from this price down to a Fibo level of 0.618 (cryptos have been generally observed to drop down to this level during a retracement). If the coin builds nice support here we can expect a move upwards (would love to see a nice consolidation before a break upwards). Possibly breaking the resistance zone but needs high momentum. This all can be seen in the daily time frame.

    Figure 1. Daily TF Chart
    Figure 1. Daily TF Chart

    4H Time Frame and Confirmations

    On a 4H time frame our confirmation could be the break of the trend line to the downside. It would confirm our pull-back scenario. We get an additional confluence for that as we a divergence on RSI as well. Market needs to breath before the next leg up.

    EGLD Coin
    Figure 2.4H TF Chart

    Near Supports, Resistances, and Potential Targets

    The nearest support for the EGLD coin at the moment is around $113.85 and the price might show a bounce from this zone. The nearest resistance is at the point where the coin is currently ranging. The long-term target can be around $200 with an intermediary point of $170 can also be used to take profits. The coin has recovered nicely and it shows that it is sweet for the traders.

    Entry should be taken while taking pullback into consideration. An important thing to notice is the behavior of BTC, if it doesn’t mess up we could see the possible scenario taking place.