STOCKS TELEGRAPH

Tag: NASDAQ: MTC

  • Doom and Gloom Ahead for MMTec Inc (MTC)

    MMTec Inc. (NASDAQ: MTC) is a stock that has led to serious disappointment over the years. Recently, it experienced a spike of over 430% which reversed almost instantly, indicating the lack of confidence it holds across the market. This is due to some serious fundamental red flags.

    Bad Overall Picture for MMTec

    MMTec Inc. has proven to be amongst the most underwhelming performers of the month, as of yet. Investors had long been in a frenzy about the doom-bearing notification by NASDAQ regarding minimum price deficiency. This notification, which was issued in late January of the year, understandably caused concern, as it entailed a potential delisting. By then, however, MTC had fallen from its $16 highs of the previous month to the $5 territory. The news saw the stock’s downfall accelerate, worsening amidst its unsustainable cash burn. By June 2021, the company had cash holdings stood at $15 million. Exactly a year later, it had burned through $2.3 million, yet had only produced $920,000 in revenue. This puts the company in a tough spot, spelling financial uncertainty.

    Disappointment After Brief MTC Spike

    Things took a turn for MTC, when it finally received positive news from NASDAQ, stating it had met the standard bid requirement. This had come following its 1-for-10 reverse stock split, allowing the company to regain compliance. The news instantly saw the stock shoot up 430% from $1.48 to $7.85. This, however, was far too high for the struggling stock with worsening fundamentals. By the same day, MTC began its plummeting correction closer to a fundamentally sound price. At present, the stock is down to $1.91, which is consistent with its present financial unsustainability. Earlier, the company had announced a $6 million equity financing arrangement, however, that too did little to slow down the fast descent of MTC.

    Conclusion

    It seems whatever happens regarding the MTC stock, the market is aware of how dire the situation is, and is therefore not reacting with the hype that would normally be expected. MMTec is in clear need for a serious rethinking of its business strategy, and perhaps even its management and business model, if it truly seeks to regain shareholder confidence.

  • Hot Stocks to Watch Today for Massive End Week Gains

    Hot Stocks to Watch Today for Massive End Week Gains

    The stocks are up after several days of losses and there are stocks that are already outperforming the market in early morning trading. Some of the stocks leading the day’s upside momentum are as below:

    Flexible Solutions International, Inc [NYSE: FSI]

    Flexible Solutions International, Inc today announced year over year increase in revenue for the third quarter of the fiscal year 2020. The company is a leading manufacturer of detergent ingredients, polymers for oil extraction, and water treatment solutions. It also manufactures environmentally safe and biodegradable energy and water conservation technologies.

    In over just one year, sales revenue increased by 10%, from $7.4 million in Q3, 2019, to $8.11 million in Q3, 2020. Dan O’Brien, the Chief Executive Officer welcomed this growth saying that the company is pleased and is gearing to keep that momentum throughout the rest of the year.

    FSI will present its year-end financial results on November 13, 2020, after the market close. It will have a conference call on November 16, 2020, for this purpose.

    MMTEC Inc [NASDAQ: MTC]

    MMTEC, a Chinese technology company that gives access to the U.S. financial markets announced today its financial results for the six months ending June 30, 2020. The company has seen tremendous growth in the six months following the merging of MMBD Trading Limited, and MM Global Securities, Inc., as part of the company. Revenues grew from $177,543 to $329,070, an 85.35%. The revenue has largely been due to commission fees accrued brokerage services. The company’s gross profit saw a significant increase of 189.27% to about $322,044 from $111,328 in 2019 for the same period. Operational loss reduced from $1,308,583 to $1,041,361 in the six months as a result of an increase in revenue, and a subsequent decrease in administration, payroll, and marketing costs.

    ASLAN Pharmaceuticals Ltd [NASDAQ: ASLN]

    Clinical-stage and biopharmaceuticals company ASLAN Pharmaceuticals, announced today its plans to develop ASLAN003 as its next-generation oral inhibitor of DHODH (dihydroorotate dehydrogenase) for autoimmune diseases like multiple sclerosis.The company says that the medication will have 30 times more potency as compared to teriflunomide. The medication is highly selective and a strong inhibitor of the DHODH enzyme in both cell-based and cell-free assays. It is highly effective in pre-clinical studies done on animal models as well as showing promise in terms of safety and efficacy. The company considers it the most viable candidate for the next clinical-trials in the treatment of the mentioned condition.