STOCKS TELEGRAPH

Tag: Nasdaq

  • 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.

  • 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.

  • Shares of Yunji Inc. (YJ) stock were down today. Why did it happen?

    Shares of Yunji Inc. (YJ) stock were down today. Why did it happen?

    Yunji Inc. (YJ), an eCommerce platform in China, today reported its fourth quarter and fiscal year 2020 unaudited results after which the YJ stock price fell by 9.13% to drop at $2.39 a share as of this writing. YJ stock seemed red at the previous closing with a 3.31% drop and $2.63 per share price. Let’s analyze the earnings to understand the drop.

    Fourth-quarter Results

    • Yunji Inc generated RMB1,327.4 million revenue in the fourth quarter of 2020 which shows a significant decrease as compared to RMB2,449.4 million in the fourth quarter of 2019.
    • Merchandise sales revenue was RMB1,165.2 representing a 45.2% decrease as compared to the same period in 2019.
    • The membership program recorded RMB0.04 million as compared to RMB145.9 million in the same period of 2019.This decrease was mainly due to Yunji’s ongoing refinement of its membership enrollment system.
    • Marketplace business revenue was RMB151.7 million representing a decrease of 10.3%
    • The total cost of revenues of YJ stock wasRMB986.6 million representing a 46.8% decrease as compared to RMB1,854.9 million in the same tenure of the previous year while operating expenses were RMB367.9 million with a 44.5% decrease as compared to the fourth quarter of 2019.

    The financial year 2020 Results

    • Full 2020-year revenue of the YJ stock dropped to RMB5,530.3 million as compared to RMB11,672.0 million in 2019.
    • Merchandise sales revenue was RMB4,829.4 million representing a 54.2%decrease over the year.
    • Membership program generated RMB42.4 million revenue while it was RMB776.8 million in 2019, thus representinga 94.5% decrease over the year.
    • marketplace business revenue surged by 92.3% to RMB599.9 million in 2020 as compared to RMB311.9 million in 2019.
    • The total cost of revenues of YJ stock was RMB3,940.0 million with a 57.4% drop over the year while operating expenses dropped toRMB1,720.9 million as compared to RMB2,746.0 million in 2019.
    • Yunji stock suffered RMB97.5 million loss from its operations while this loss was RMB254.8 million in 2019.
    • RMB151.7 million of net loss was recorded in 2020 as compared to RMB123.8 million in 2019.

    Past Developments

    On January 29, 2021,YJ stock launched its first private label food brand, Li Ba Tian, in response to the increasing demand for children’s food in China.Furthermore, in the lunar year period, Yunji launched many campaigns for the growth of its e-commerce business.

    Conclusion:

    Yunji stock is facing bearish sentiment as far as the stock market is concerned. Yunji revenues showed a significant decrease in 2020 as compared to prior year revenue. Hence it is better to analyze Yunji’s balance sheet, its fundamentals, and future growth deeply before making any decision about it.

  • Why RLX Technology Inc. (RLX) stock is falling today?

    Why RLX Technology Inc. (RLX) stock is falling today?

    Shares of RLX Technology Inc. (RLX) fell over 41.11%. RLX stock price was down by 33.61% to drop $12.92 a share at the time of this writing. It seems that RLX stock happened to be down after the spread of the news that Chinese regulators are planning to introduce laws to govern the sales of e-cigarettes in line with ordinary cigarettes.RLX stock was green at the previous closing with a gain of 4.85% and  $19.46 per share price. Let’s dive deeply to explore the current scenarios.

    What’s happening?

    Two of China’s regulators namely, the Ministry of Industry and Information Technology (MIIT) and China’s State Tobacco Monopoly Administration recently posted the draft that explains the rules and regulations for the sale of E-cigarettes. These new laws might affect the sales of E-cigarettes as well as other tobacco products thus lowering the potential revenue in this fastest growing industry.

    In 2019, the Chinese regulators had forbidden the sale of e-cigarettes through an e-commerce platform that greatly affected the growth of this business and many brands in response to that restriction shifted themselves from online seller to offline seller.

    In the first week of March 2021, RLX appointed Professor Youmin Xi to be an independent director to its board of directors. Professor Youmin is now serving as a member of the audit committee, compensation committee, and corporate governance committee of RLX Technology’s board.

    About RLX Technology

    RLX Technology Inc. (RLX) is the leading brand of e-vapors products in the People’s Republic of China.RLX operating areas include research, development, manufacturing, and distribution of e-vapors products in China. RLX Technology is founded in 2018 and headquartered in Beijing, China.

    Conclusion:

    The recent news about the governing laws for the sale of e-cigarettes and other tobacco products has added pain to the RLX stock as RLX Technology stock fell more than 41.11% in Monday’s current market session. Let’s see how the RLX management will react to this situation and its fourth quarter and fiscal year 2020 results to be announced on March 26, 2021, will further decide the fate of the stock.

  • Hall of Fame Resort & Entertainment Company (HOFV) stock rises 15% today. Let’s find out why.

    Hall of Fame Resort & Entertainment Company (HOFV) stock rises 15% today. Let’s find out why.

    Shares of Hall of Fame Resort & Entertainment Company (HOFV) continue to rise in Monday’s pre-market session after gaining at the previous market. HOFV stock price saw an uptrend of 15.00 % to reach $4.60 a share as of this writing. The previous closing price of HOFV stock was $4.0 with a 46.52% gain. There is no recent story by the HOFV stock to explain this rise.

    What’s happening?

    Hall of Fame Resort & Entertainment Company (HOFV) is a resort, entertainment, and media company.It seems that HOFV stock has been hot among the investors despite no recent news by the HOFV stock.Also, there are no signs of analysts upgrades or upswing targeted per share price to explain the rally.However, anything that has some link with NFTs is making an impact as NFTs have been much in the discussion for the past few weeks.

    Financial View

    HOFV stock announced its fourth-quarter and full-year financial results of 2020 on March 10, 2021.Here is the summary of the results.

    HOFV annual revenue generated $1.8 million in revenue in the fourth quarter with 4% growth and annual revenue of 2020 totaled $7.1 million.Net loss in the fourth quarter was $14.6 million while it reached $71.3 million for the full 2020 year.Adjusted EBITDA in the fourth quarter of 2020 was a loss of $6.5 million while for the whole of 2020, adjusted EBITDA was recorded a loss of $20.5 million.

    Recent Business Developments:

    Hall of Fame has signed many agreements in the fourth quarter which include agreements with TopGolf and Shula’s Restaurant Group, a media partnership with WaV Sports & Entertainment and Sports Illustrated Studios and 101 Studios,a partnership with StakeKings, and a deal with Spectra Partnerships for an increase in sponsorships and a three-year sponsorship with Republic Waste Management for the education of recycling of the waste.

    Conclusion:

    HOFV stock price is continuing the rising trend in today’s pre-market trading.HOFV stock has shown growth in its recent earnings report and its management is optimistic that the stock will continue the momentum in the future.

  • Jiayin Group Inc. (JFIN) stock drops by 7% today: Things you need to know.

    Jiayin Group Inc. (JFIN) stock drops by 7% today: Things you need to know.

    Shares of Jiayin Group Inc. (JFIN) were down on Friday after soaring in yesterday’s trading amid NFTs speculations. JFIN stock price was down by 7.23% to drop at $8.73 a share at the time of this writing as profit takers stepped in. At the previous closing, the JFIN stock soared by 73.62% to reach a $9.41 per share price. Let’s understand more of it.

    What’s happening?

    Jiayin Group Inc. (JFIN) is an online finance marketplace connecting both individual investors and borrowers in China. The falling JFIN stock price has nothing to do with any particular event by the Jiayin Group.There was no news by the JFIN, no press release, no earnings report today, no analyst downgrades or shrank targeted per-share price, no filings by any law firm on behalf of JFIN shareholders to justify the reason behind this bearish sentiment.On the prior day, JFIN stock was significantly up due to speculations related to non-fungible tokens(NFTs). That bullish sentiment resulted in the trading of more than 100 million shares of JFIN stock till 1 PM est. The average volume of JFIN stock is approximately 290,000 shares.

    On March 8, 2021, Jiayin stock appointed Marcum Bernstein & Pinchuk LLP as an independent registered public accounting firm of the Jiayin. Previously Deloitte Touche Tohmatsu Certified Public Accountants LLP was serving the JFIN since 2017. Back in February 2021, Mr. Jiong Feng stepped back from his responsibilities due to some personal reasons. He was serving as Chief Technology Officer since 2013. Mr. Chongxian took the place of Mr. Jiong to ensure the continuity of Jiayin’s operations.

    Financial View of JFIN stock.

    JFIN stock has not released the fourth quarter and fiscal year 2020 financial results. In the third quarter JFIN stock recorded RMB401.3 million net revenue which was 21.4% less than the same quarter of 2019. Operating income was surged by 79.6% to reach RMB150.0 million as compared to the third quarter of 2019.Net income of JFIN was totaled RMB88.4 million with an 8.1% increase as compared to the same tenure of 2019.

    Conclusion:

    After soaring high in yesterday’s trading, JFIN stock has now become red today. The stock market is unpredictable, and anything can happen with or without certain. Hence from an investment perspective, it’s a good practice to deeply analyze the company’s core business, balance sheet, earnings results, and network to make the right decision at right time.

  • Aurora Mobile Limited (JG) stock rises today: Things You need to know

    Aurora Mobile Limited (JG) stock rises today: Things You need to know

    Aurora Mobile Limited (JG) announced its fourth quarter and fiscal year 2020 unaudited results after which added hype in the JG stock price as it was pushed by 5.55% to reach $6.83 a share as of this writing. Aurora stock was green with a 5.55% gain and a $6.28 per share price at the previous closing. So what you need to know now?

    Fourth-quarter financial results of 2020

    • Aurora stock recorded RMB76.6 million revenue from the SAAS business with 17% YoY and quarter over quarter increase while its RMB106.0 million overall revenue decreased by 42% YoY and 2% quarter over quarter.
    • Gross profit for SAAS business surged to RMB58.7 million with a 28% increase over the year and 20% increase quarter over quarter while the overall gross profit was RMB60.1 million with a 0.5% decrease over the year.
    • Gross Margin for SAAS business was 76.6% as compared to 70.3% in the same tenure of the previous year.
    • Operating expenses have shown a 3% increase over the year to reach RMB106.5 million for the whole business.
    • Net loss reached RMB89.9 million in the fourth quarter of 2020 as compared to RMB40.2 million in the same period in 2019.
    • Adjusted net loss in the fourth quarter was RMB29.4 million as compared to RMB20.9 million in the same quarter of the previous year while adjusted EBITDA was negative RMB17.1 million as compared to negative RMB8.8 million in the fourth quarter of 2019.

    The fiscal Year 2020 Results:

    • For SAAS business, JG stock generated RMB258.0 million revenue with a 21% increase over the year while overall business revenue decreased by 48% to drop RMB471.6 million over the year.
    • Gross profit for SAAS business of JG stock surged to RMB194.7 with a 24% increase over the year while the overall gross profit was RMB206.2 million with a 0.5% decrease over the year.
    • Operating expenses have shown a 2% decrease over the year to dropRMB396.0 million for the whole business.
    • Net loss surged RMB225.1 million in  2020 as compared to RMB109.8 million in 2019
    • The adjusted net loss in 2020 was RMB141.6 million as compared to RMB73.6 million in the previous year while adjusted EBITDA was negative RMB87.7million as compared to negative RMB29.7million in 2019.

    Conclusion

    The Aurora stock is rising today despite a decrease in overall business revenue reported in its earnings result. However JG stock has shown much growth in the quarterly and yearly revenue of its SAAS business. Aurora has launched many heavy-weight products in 2020 and completely transitioned its business to the SaaS model. JG stock is growing with time owing to its recent developments which also include a partnership with BitDeer, the world’s largest crypto mining platform. Hence JG can be a good bet for investors in the future.

  • Luokung Technology Corp. (LKCO) stock climbing high in pre-market trading. What’s going on?

    Luokung Technology Corp. (LKCO) stock climbing high in pre-market trading. What’s going on?

    Luokung Technology Corp. (LKCO) announced the closing of the acquisition of eMapgoTechnologies Co., Ltd after which the shares of LKCO stock were popping high in Wednesday’s open market and today’s pre-market. At the previous closing, the LKCO stock was up by 5.48% with a $1.54 per share price while in today’s pre-market, LKCO stock saw a push of 7.14% to reach $1.65 a share at the time of this writing. Luokung stock has been very much in the news for the past few weeks. Let’s look into some recent events of LKCO stock.

    What’s happening?

    Luokung Technology Corp. (LKCO) is the leading developer of mobile application products and location-based service providers in China.LKCO stock is a hot topic among investors for the past few weeks due to various announcements by the company.LKCO has recently closed on the acquisition of  100% equity interest to become the holder of eMapgo Technologies, which provides navigation and e-map services in China. This closing will benefit LKCO in technological advancements especially in the autonomous field, electric vehicles, smart cities, and intelligent transportation.

    In the previous week, LKCO announced the confirmation letter that says trading of LKCO shares will not be restricted until May 8, 2021, and divestment will be permitted through MARCH 9, 2022. Previously the LKCO stock announced the filing of a motion for Temporary Restraining order with its two U.S shareholders in response to the allegations made by the Department of Defence that Luokung is the Communist Chinese military company and imposed restrictions under Executive Order 13959 which was signed by the former president Trump.

    In February LKCO registered direct offerings of 48,076,923 ordinary shares and warrants of 19,230,768 ordinary shares at a $2.08 combined purchase price.$10,000,000 gross proceeds were estimated while $2.38 exercise price of warrants had been declared with three years validity from the issuance date.

    Conclusion

    The penny LKCO stock is continuing the rising trend in the pre-market as of now. Looking management is optimistic to expand its network and get a competitive advantage due to the recent closing of the acquisition. Hence long-term investors should keep an eye on this stock.

  • CPI Aerostructures, Inc. (CVU) Stock Rises 33% Today, Let’s Find out Why

    CPI Aerostructures, Inc. (CVU) announced on March 17, 2021, that it has received a follow on order from Lockheed Martin, a security and aerospace company after which the CVUstock became green as CVU stock price pushed by 33.61% to reach $6.52 a share as of this writing. At the previous closing, CVU stock was down by 0.20% with a $4.880 per share price. Let’s deeply dive to understand the bullish sentiment.

    What’s happening?

    CPI Aerostructures, Inc. (CVU) mainly works for the manufacturing of structural aircraft parts for helicopters and fixed-wing aircraft in commercial and defense markets. Today Lockheed Martin awarded a follow-on order to CPI Aerostructures, Inc. (CVU) for the manufacturing of structural assemblies of newly F-16 Block 70/72 aircraft.CVU stock has received many orders in the past from Lockheed Martin but this new order is the biggest one so far making the order book more than double to $17.9 million. Deliveries are expected to occur in 2020 and 2023.

    Past Developments:

    CVU stock on February 18, 2021, reported that it has been awarded $2.7 million in Excelsior Jobs tax credit and $1.05 million Capital Grant for its growth and retain its headquarters in New York State.CVU is expected to invest $5.7 million for its expansion which includes new equipment, infrastructure improvement, and the addition of 85 new full-time jobs.

    On February 16, 2021, CPI Aerostructures had been awarded an $8.7 million purchase order by the U.S Air Force. In connection with a purchase order, it is the responsibility of CVU to ensure the provision of structural modification kits, logistics, program management, and other desired services mentioned in the contract.

    We are not done here yet as CVU also won another order from the Raytheon Missiles & Defense back in January 2021 according to which CVU will manufacture structural assemblies for the former.Deliveries are expected to start within this year.

    Conclusion:

    Follow on order from Lockheed Martin has made the momentum for CVU stock price to rise. Recent development by the CPI Aerostructures points to the growth of the CVU stock in the future. CVUhas succeeded in winning the confidence of Lockheed Martin and expecting to work for LMT in many years to come. Hence investors should keep an eye on this stock.

  • Why does Pinduoduo Inc. (PDD) stock fall in Pre-Market trading?

    Why does Pinduoduo Inc. (PDD) stock fall in Pre-Market trading?

    Pinduoduo Inc. (PDD) is an eCommerce mobile-based platform in china that offers a wide range of products of daily life. Despite the positive unaudited fourth quarter and fiscal year 2020 financial results announced by Pinduoduo Inc. (PDD), PPD stock fell on Wednesday’s pre-market trading as PDD stock price was down by 6.36% to drop at $150.65 a share at the time of this writing. At the previous closing, PDD stock was up by 1.11% with a $160.89 per share price. Let’s understand deeply the current happenings.

    Fourth-quarter highlights

    • PPD stock generated RMB26,547.7 revenue in the fourth quarter which is 146% higher than the MB10,792.7 million in the same quarter of last year.
    • Pinduoduo stock suffered RMB11,526.1 million cost of revenue in the fourth quarter of 2020 representing a 466% increase as compared to the same tenure in the previous year.
    • Operating expenses reached MB17,069.4 million as compared to RMB10,890.6 million in the same quarter of the prior year.

    The fiscal Year 2020 highlights

    • PPD stock revenue surged to RMB59,491.9 million with 97% growth as compared to the RMB30,141.9 million revenue of last year.
    • The total cost of revenues reached RMB19,278.6 million which shows a 204% increase over the year.
    • Total Operating expenses reached RMB49,593.5 million as compared to RMB32,341.3 million of last year.

    PDD stock to promote digital inclusion in Agriculture Sector.

    Pinduoduo stock is focused on the development of the agriculture sector in China. PDD held live streaming session in the miserable days of COVID-19 to promote the agriculture products of farmers and launched the “Help the Farmers” channel to help farming communities. This new method of promoting agriculture products has risen the demand for new roles with different skills thus creating new opportunities for individuals committed to the agriculture sector. PDD has prepared more than 100,000 new farmers to operate the eCommerce business and plans to train 100,000 more new farmers to meet the eCommerce business requirements.

    Colin Huang steps down from His role.

    PDD also announced today that its founder Colin Huang will step back from the board of directors effective today to focus on the research in food and life sciences in order to devise long-term strategies for the Pinduoduo stock. Huang will not sell his shares for a further three years.

    Conclusion:

    Though PDD stock released the earnings report that has beaten the revenue estimates PDD stock price is still down in the pre-market. This is something confusing for investors but it’s a fact that the stock market is unpredictable. For long terms prospects, the PDD stock can be a good bet for investors due to its expansion and digitization in the agriculture sector. Hence investors are required to do a lot of homework before taking any decision.