STOCKS TELEGRAPH

Tag: Technology

  • Meridian Bioscience, Inc. (VIVO) Stock Plummeted After Failing to Meet Financial Expectations for Preliminary Q3 2021 Results

    Meridian Bioscience, Inc. (VIVO) stock prices plummeted by 22.53% some time after market trading commenced on July 13th, 2012, bringing the price per share down to USD$17.43 early on in the trading day.

    Suffering Financials

    July 13th, 2021 saw the provider of diagnostic testing solutions and life science raw materials announce preliminary revenue results for the third quarter of the fiscal year 2021. Preliminary unaudited revenue for the quarter is expected to be less than previously expected, coming in at roughly USD$63.5 million. This is largely driven by supply chain issues with the company’s LeadCare reagents that resulted in increased backorders, negatively impacting the performance of the Diagnostics segment.

    EUA Resubmission

    The company announced on June 28th, 2021 that it had resubmitted its application to the U.S Food and Drug Administration for the Emergency Use Authorization of its proprietary Covid-19 molecular diagnostic test on the Revogene platform. February 22nd 2021 had seen the company voluntarily withdraw its initial EUA application, allowing VIVO to conduct additional studies based on feedback from the FDA. The completion of the additional studies resulted in the resubmission of the EUA application on June 25th 2021.

    RT-LAMP

    Specifically designed to accelerate the development of ambient temperature stable reverse transcriptase loop-mediated isothermal amplification (RT-LAMP) assays, the company announced the launch of the Lyo-Ready RT-LAMP Mix on June 16th 2021. The technology is designed for rapid, robust, and sensitive detection of RNA viruses.

    Scope of RT-LAMP

    RT-LAMP technology is ideal for point-of-care or portable testing, seeing as assays are performed at a single temperature, which reduces the cost and complexity of the device without the need for a thermocycler. The technology has been successfully used in the diagnosing of various infectious disease caused by RNA viruses, including, but not limited to, influenza, hepatitis C, West Nile fever, Dengue virus, and Ebola virus. The accuracy and accessibility of the simple equipment requirement makes it the perfect technology for use as a practical solution for point-of-care detection of viruses. This is particularly helpful in non-standard institutions, such as airports, rural hospitals, or from home.

    Future Outlook for VIVO

    Despite being armed with the development of RT-LAMP and the pending approval of its EUA, VIVO reported a significant dip in equity value following financial reports that did not meet previous expectations. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Red Cat Holdings, Inc. (RCAT) Stock Skyrockets Following Announcement of Merger with Teal Drones

    Red Cat Holdings, Inc. (RCAT) stock prices surged by 45.40% shortly after market trading commenced on July 13th, 2021, bringing the price per share up to USD$4.32 early on in the trading day.

    Merger with Teal Drones

    July 13th, 2021 saw the company announce the signing of a definitive agreement that will see RCAT acquire Teal Drones, a frontrunner in the commercial and government unmanned aerial vehicle technology space. The all-stock transaction will add Teal Drones to the company’s portfolio, serving to consolidate the group’s myriad of offerings across the North American market.

    Network of Partnerships

    Teal will anchor the enterprise group at RCAT holdings, including, but not limited to, Skypersonic, a remote inspection company, as well as Dronebox, an analytics platform for cloud-based flight intelligence. Fat Shark, a drone imaging and communication company, is also included in RCAT’s portfolio, as is Rotor Riot, a lifestyle operation focused on the consumer segment. The company cumulatively presents a complete and varied selection of drone technologies that serve to cater to all the segments in the growing drone industry.

    Scope of Collaboration

    The inclusion of Teal will facilitate the natural expansion of RCAT deeper into the enterprise and government spaces. The partner’s Golden Eagle drone platform combined with its existing access to the Department of Defense will facilitate the adequate positioning of the company for a continued trajectory of success. Further facilitating this are RCAT’s market reach and market experience.

    About Teal

    The partnering company was founded in 2015, going on to launch its Teal Sport and Teal One consumer drones, marking the first of their kind to be manufactured in the U.S. Based out of Utah, the company has since expanded into the enterprise and government sectors with the U.S-approved Golden Eagle, which is a drone designed for recon, public safety, and inspection applications. The company’s open and modular platform allows a critical mass of applications to be developed and integrated for cutting-edge capabilities. Teal was one of only five companies selected by the DoD in 2020 as approved small unmanned aerial system vendors for the U.S. government.

    Future Outlook for RCAT

    Armed with the fortuitous upcoming merger, RCAT is poised to capitalize on the expanded scope of opportunities it finds at its disposal. The company is keen to leverage the additional resources at its disposal in order to facilitate significant and sustained increases in shareholder value over the long term.

  • Huize Holding Ltd. (HUIZ) Stock on the Rise Following Announcement of Partnership with Sungrow

    Huize Holding Ltd. (HUIZ) stock prices were up by 15.55% shortly after market trading commenced on July 13th, 2021, bringing the price per share up to USD$6.02 early on in the trading day.

    Partnership with Sungrow

    July 13th, 2021 saw the company announce its partnership with Sungrow that will see the collaborative launch of immune cell cryopreservation as a value-added healthcare service offered to eligible insurance customers. Supported by BGI Cell, immune cell cryopreservation technology refers to the use of advanced biotechnology to extract immune cells from a healthy human body. The cells will be preserved at temperatures below negative 196 degrees Celsius, with the dormant cells able to be reactivated in the future. These cells will serve as valuable anti-aging, tissue regeneration, immune regulation, and other disease treatments.

    Complementary Collaboration

    The company is excited to have appointed Sungrow as its third-party administrator as it continues to execute its longer-term strategy of complementing insurance products with more value-added services. The company is keen to maximize the benefits to its users from the building of a more integrated insurance ecosystem.

    Scope of Collaboration

    The company has been offering high-quality insurance products with value-added services, such as increased accessibility of cancer screening and online medical consultation, in an effort to satisfy the growing user demand for diversified healthcare services since the beginning of the year. HUIZ believes these services over the course of the policy will result in increases in the core competitiveness of the platform within the marketplace, as well as facilitating the creation of longer-term engagements with users, thus maximizing their lifetime value.

    Healthy Financials

    The company reported a combined balance of USD$76 million in cash and cash equivalents as of March 31st, 2021. Net Profit for the first quarter of 2021 was up to USD$4.4 million from the USD$0.36 million in net loss reported for the prior-year quarter. Non-GAAP net profit for the 2021 quarter came in at USD$5.9 million, up from the USD$3.43 million reported for the first quarter of 2020.

    Future Outlook for HUIZ

    Armed with an expansive partnership with Sungrow, HUIZ is poised to capitalize on the opportunities afforded to it as it strives towards the proliferation of its technology throughout the global healthcare space. Current and potential investors are hopeful that the partnership will result in significant and sustained increases in shareholder value over the long term.

  • Orbsat Corp. (OSAT) Stock Skyrockets Following Announcement of Partnership with Alibaba.com

    Orbsat Corp. (OSAT) stock prices were down by 5.39% at the end of July 12th, 2021, bringing the price per share down to USD$6.67. Subsequent premarket fluctuations have seen the stock surge by 77.06%, bringing it up to USD$11.81.

    Partnership with Alibaba

    The company announced on July 13th, 2021 that its Global Telesat Communications (GTC) unit had entered into an agreement with Alibaba.com. The B2B e-commerce website owned by the Chinese multinational technology company, Alibaba Group, specializes in e-commerce, retail, internet, and technology. Making use of the world’s largest B2B e-commerce website, Alibaba.com, GTC will be a Gold-Supplier. Alibaba.com boasts a network of global active business partners of more than 26 million, which serve customers across 190 countries in 19 different languages. The company receives over 340,000 product inquiries and 20,000 RFQs on a daily basis.

    Details of Collaboration

    Having been designated the highest level on Alibaba.com, OSAT finds itself in the most trusted seller category, which significantly expands the scope of its around-the-clock e-commerce presence with the launch of its latest global storefront. The company anticipates launching the new storefront during the third quarter of 2021, made possible by an extensive range of satellite IoT and connectivity products.

    OSAT Product Portfolio

    Among these products are the company’s specialized satellite tracking products, some of which are operated with the use of OSAT’s numerous ground station-based network processors. These can be used to track and monitor the location of a myriad of remote assets, including, but not limited to, cars, trucks, trailers, boats, containers, and animals. The company’s catalog of more than 500 products and connectivity services is set to be available on Alibaba.com by the start of the first quarter of 2022.

    Scope of Partnership

    The onset of the global pandemic and the ensuing closures and social restrictions has resulted in an explosion in online shopping, with e-commerce gaining unprecedented traction. The company is confident that e-commerce is the way of the future and is poised to consolidate its online presence with the recent partnership. Furthering this strategy, OSAT intends to secure new integration alliances, including joint commerce structures with additional connectivity partners.

    Future Outlook for OSAT

    Armed with the potentially massively profitable partnership, OSAT is keen to continue to allocate resources towards adapting to a pandemic and post-pandemic economy. Investors are hopeful that the company will effectively consolidate and expand its market footprint in successful efforts to facilitate significant and sustained increases in shareholder value.

  • SCWorx Corp. (WORX) Stock Skyrockets as Meme Stock Phenomenon Continues to Run Rampant

    SCWorx Corp. (WORX) stock prices skyrocketed by 59.28% as of the market closing on July 12th, 2021, bringing the price per share up to USD$2.66. Subsequent premarket fluctuations have seen the stock rise by a massive 58.27%, bringing it up to USD$4.21.

    Regaining Nasdaq Compliance

    June 1st 2021 saw the company announce that it had regained Nasdaq compliance in regard to their continued listing requirements for periodic reporting. This was a result of WORX’s filing of a Form 10-K for the year ended December 31st 2021. Furthermore, a letter from Nasdaq, dated May 27th, 2021, consolidated the regaining of compliance with the annual meeting requirement, on the basis of the company having completed its Special Meeting as a substitution for the Annual Meeting of Stockholders. As such, the company has addressed its deficiencies and continues to be traded on Nasdaq under the WORD ticker.

    Change in Leadership

    The company also concurrently announced the promotion of WORX’s President and COO, Tim Hannibal, to the role of Chief Executive Officer. Having joined the company in the latter half of 2016, Mr. Hannibal brings a wealth of expertise from his tenure as Founder, President and CEO of VaultLogix, a Software-as-a-Service company, for 13 years.

    Contextualizing WORX’s Gains

    While promising, these developments do not adequately explain the recent surge in WORX’s stock price. Rather, in the absence of any significant developments or changes in fundamentals, WORX seems to be the latest target of the meme stock phenomenon that has been spreading like wildfire across the stock markets. The absence of underlying reasons to rationally invest in the company goes as far as to see companies with obvious reasons to not invest in being pumped and inflated.

    Meme Stock Phenomenon

    A high short interest seems to be a common denominator among the stocks being targeted by the meme stock movement, signaling institutional investors’ confidence in the company’s stock price falling. Accordingly, retail investors coordinate a short squeeze, seeking to capitalize on the confidence of the institutional investors. As a result, some of the biggest names in finance have seen losses in the billions, with some going as far as to declare bankruptcy. Given the largely baseless driving forces behind the movement, these gains in stock prices are rife with inherent volatility and risk.

    Future Outlook for WORX

    Nevertheless, armed with the fortuitous surge in equity value, WORX is poised to capitalize on the opportunities afforded to it from the expanded scope of exposure it has received. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal to facilitate more organic growth over the long term.

  • Vinco Ventures, Inc. (BBIG) Stock Trends Higher Ahead of Pending Finalization of Reverse Merger with Zash Global

    Vinco Ventures, Inc. (BBIG) Stock Trends Higher Ahead of Pending Finalization of Reverse Merger with Zash Global

    Vinco Ventures, Inc. (BBIG) stock prices were up by 7.2179% some time after market trading commenced on July 12th, 2021, bringing the price per share up to USD$4.08 early on in the trading day.

    Reverse Merger with Zash

    The company announced in January of 2021 a reverse merger with a private media company called Zash Global Media, with the fate of BBIG’s stock seeming to depend on the closing of the merger. Following the move, Zash will become the controlling company, while retaining both Vinco’s name and the BBIG ticker. The company hopes to allow BBIG to cover its losses in order to facilitate the expansion of the business. The reverse merger is expected to be approved some time in July of 2021.

    Acquisition of Lomotif

    The combined company also has plans on acquiring Lomotif, a contender of the market space currently dominated by the TikTok platform. The merger is designed to utilize data, metadata, and the Internet of Things, to meet the perpetually evolving demands of content developers, consumers, and creators. February 2021 saw Farnsworth and Ma acquire a controlling stake in Lomotif, facilitating the participation of shareholders in BBIG’s growth.

    Healthy Liquidity Position

    The company reported USD$5.5 million in cash as of March 31st, 2021, indicating a comfortable liquid position, including USD$1.68 million in receivables. Nevertheless, the company is running steep cash flow losses, as indicated by a loss from operations in the amount of USD$4.14 million for the first quarter of 2021.  May 24th, 2021 saw an accredited investor exercise warrants of the company’s stock, generating an additional USD$5.74 million.

    Emmersive Entertainment Spin Out

    June 24th saw the Vinco-Zash duo invest USD$2 million in Lomotif after receiving investment in the same amount. The same date also saw the company announce its spinning out of Emmersive Entertainment to its shareholder as a standalone public company. This sees the company enter the non-fungible token space, with the deal expected to close in the third quarter of fiscal 2021.

    Future Outlook for BBIG

    Armed with the recent string of collaborations, BBIG is poised to capitalize on the expansive opportunities afforded to it as it consolidates its existing market footprint while also expanding into other markets. Investors are hopeful that the company will continue to leverage the resources at its disposal to maintain its trajectory of success, thus ushering in sustained growth in the long term.

  • Origin Agritech Ltd. (SEED) Stock Surges Following Expansion of GMO Trait Portfolio

    Origin Agritech Ltd. (SEED) Stock Surges Following Expansion of GMO Trait Portfolio

    Origin Agritech Ltd. (SEED) stock prices were up by 29.22% some time after market trading commenced on July 12th, 2021, bringing the price per share up to USD$11.63 early on in the trading day.

    Exclusive Rights Agreement

    July 12th, 2021 saw the company announce that it had entered into an exclusive rights agreement with the Biology Research Institute of the Chinese Academy of Agricultural Sciences, in regard to its proprietary drought resistant GMO trait. The agreement will see the company gain exclusive global rights to the GMO trait for the entire duration of the patent. The Chinese Ministry of Agriculture and Rural Affairs approved the drought tolerance corn for production trials, representing the fourth stage in a five stage process to receive a bio-safety certificate.

    Drought Resistant Traits

    With the company already having successfully converted its elite corn hybrids into drought resistant  traits, which express excellent performance under water stress conditions throughout the growing period. Multi year experiments have indicated drought tolerance corn yield that is 9.2 to 16.2% higher than non-GMO corn under water stress conditions. In the case of irrigation, the GMO enhanced corn increases water use efficiency by 33-47%.

    Approval for Hybrid Corn Breeds

    July 8th, 2021 had seen the company announce its approval from the Ministry of Agriculture and Rural Affairs for four of its new hybrid corn breeds. This move has seen the company expand its product pipeline and increase its competitiveness in the Chinese corn seed market. The company also has GMO enhanced versions of the newly approved hybrids that are currently in the approval pipeline.

    Scope of Approval

    The Ministry of Agriculture and Rural Affairs recently increased the national standards required for the approval of corn and rice varieties, thus further promoting further innovation in germplasm development. Being on of the few participating companies in the Green Pass program, the company is in a unique position to streamline the approval process, resulting in the submission of more hybrids for approval per year. This will, in turn, strengthen the company’s ability to add multiple new hybrids to market annually, which will include many GMO enhanced hybrids.

    Future Outlook for SEED

    Armed with the recent development of its product pipeline, SEED is poised to push for the accelerated commercialization and effective proliferation of its corn hybrids in the Chinese market space. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Cuentas, Inc. (CUEN) Stock Dips After Exercising of Warrants from February 2021 Public Offering

    Cuentas, Inc. (CUEN) Stock Dips After Exercising of Warrants from February 2021 Public Offering

    Cuentas, Inc. (CUEN) stock prices were down 14.40% shortly after market trading commenced on July 12th, 2021, bringing the price per share down to USD$4.16 early on in the trading day.

    Public Offering

    July 12th, 2021 saw the company announce the generation of USD$6.2 million from the exercising of warrants issues earlier in February of 2021. The warrants were issued in relation to the company’s underwritten public offering of 2,790,697 units, with each unit priced at USD$4.30 per unit. The offering raised roughly USD$12 million, before the deduction of expenses related to the offering. The warrants started trading on the Nasdaq Capital Market under the ticker CUENW since February 2nd, 2021.

    Inclusion in WaveMax Network

    WaveMaxannounced having been selected by TelcoDR as a part of its showcase of the most innovative mobile technologies at the Mobile World Congress in Barcelona. Cuentas has signed a contract to rollout SharedFi across 170 test locations in the New York City-Tristate area. The testing period will last 6 months, the success of which will result in the collaborative installation of 1,000 additional Bodega Stores in a 50/50 joint venture.

    Synchronicity with Execon

    The WiFi managed services company, Execon, will facilitate the implementation of WiFi6 infrastructure and manage and monitor the broadband internet at various Bodega stores. Execon will connect participating stores, while Cuentas will connect customers via the WaveMax platform, driving customer savings and greater value. The WaveMax mobile ecosystem will encourage an enhanced user and shopping experience, with Cuentas customers having access to discounts for purchases and rewards, this driving in greater net revenues.

    Healthy Financials

    The company’s balance sheet for the first quarter of 2021 improved drastically, largely as a result of a successful USD$12 million capital raising venture, The underwritten public offering saw the generation of USD$10.6 million in net proceeds. The capital raised was allocated towards the repayment of all of its financial debt, including USD635,000 to Labrys, USD$378,000 to Dinar Zuz, and a USD$260k convertible loan with interest to A.Ghershony.

    Future Outlook for CUEN

    Armed with a solid liquidity position, the company is poised to capitalize on the opportunities afforded to it by the expansive scope of its collaborative ventures. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Exela Technologies, Inc. (XELA) Stock Continues Rising After Expansion of Product Offerings

    Exela Technologies, Inc. (XELA) Stock Continues Rising After Expansion of Product Offerings

    Exela Technologies, Inc. (XELA) stock prices were up 4.48% shortly after the opening of market trading on July 12th, 2021, bringing the price per share up to USD$3.04.

    Expansion of Offerings

    July 12th, 2021 saw the company announce the expansion of its offering of AI-enabled automation in the BPA space. The company will do this via the combination of its Intelligent Document Processing with its robotic process automation platform. The automation solution will be a frontrunner of the industry and will be deployed in the healthcare and public sector, further consolidating XELA as an industry leader.

    Intelligent Document Processing

    Intelligence Document Processing will enable the automation of document classification, data extraction, and data, made possible by the routing into a cloud or on-premise hosted service portal. This portal can be accessed from anywhere at any time, facilitating the provision of a containerized, dynamically scaling solution.

    Utility of IDP

    The use of the IDP system allows the company to leverage its extensive and growing library of machine learning-based classifiers. These classifiers substantially enhance the automation of document processing in the healthcare and public sector. XELA has plans to increase the scope of its projects in the finance and legal sectors in the short term future. The solution includes a modernized data solution build on the delivery of rule-based, character-level data correction capabilities that serve to drastically reduce the keystrokes required to meet customer service level targets. The IDP manual entry solution allows the company to leverage manual entry operators that can work remotely from anywhere while preserving data security using a proprietary snippet routing engine.

    Combination with EON

    Furthermore, EON will facilitate the automation of simple or complex workflows to usher in efficiency and accuracy gains, while also freeing up human capital to be allocated towards other higher-value uses. The automation platform facilitates the automation of both attended and unattended automation deployments. The company continues to expand its portfolio of solutions to meet the changing requirements of its consumer base, with the latest IDP and EON combination embracing the evolution of work to an accessibility-oriented environment that customers and their employees having been embracing since the onset of the global pandemic.

    Future Outlook of XELA

    The company is poised to capitalize on the opportunities afforded to it in regard to the development of its offerings. With a focus on hasty commercialization and effective proliferation of its products, the company is keen to usher is substantial and sustained increases in shareholder value.

  • Tuya, Inc. (TUYA) Stock Rises Inexplicably as Latest Potential Target of Meme Stock Phenomenon

    Tuya, Inc. (TUYA) Stock Rises Inexplicably as Latest Potential Target of Meme Stock Phenomenon

    Tuya, Inc. (TUYA) stock prices were up by 9.12% as of the market closing on July 9th 2021, bringing it up to USD$20.35.Subsequent premarket fluctuations have seen the stock inch up by another 1.23%, bringing it up to USD$20.60.

    MWC Exhibition

    June 28th 2021 saw the company announce its exhibition at the Mobile World Congress, which was held in Barcelona from June 28th 2021 to July 1st 2021. The exhibition showcased the company’s Smart cellular and Bluetooth communication capabilities, facilitating the exposure of TUYA’s myriad of connectivity solutions. The industry’s biggest and most significant exhibition was attended by thousands of developers and enterprises from around the world.

    Trading Volume Activity

    Despite the expanded scope of businesses offered by the exhibition, the company’s stocks’ recent activity remains a mystery. With the company having been plummeting since July 2nd, the volume of shares traded went as far as more than one million in the red. Premarket fluctuations on the 9th of July 2021 saw a reversal and sharp increase in the volume of shares traded being bought. This comes despite any recent news coverage of company developments or changes in fundamentals.

    Contextualizing TUYA’s Gains

    Rather, in the absence of apparent motivating factors, TUYA seems to be the latest target of the meme stock phenomenon which has been seeing a massive resurgence in the stock markets. Driven by retail investors who target underperforming companies, the absence of underlying reasons to rationally invest in the company goes as far as to see companies with obvious reasons to not invest in being pumped and inflated.

    Meme Stock Phenomenon

    The companies selected in the meme stock phenomenon are usually ones that indicate a high short interest, signaling institutional investors’ confidence in the company’s stock price falling. Seeking to capitalize on this confidence and upturn the hold of institutional investors, retail investors coordinate to execute a short squeeze that has seen large firms lose billions and sometimes even cross the brink of bankruptcy. Given the nature of the movement, these gains in stock prices are rife with inherent volatility and risk.

    Future Outlook for TUYA

    Armed with the fortuitous surge in the value of its equity despite the lack of recent developments or changes in fundamentals, TUYA is poised to capitalize on the additional opportunities afforded to it as the latest target of the meme stock phenomenon. The company is keen to use the increased exposure to leverage to its advantage in order to usher in more organic growth.