Crypto Prices Are Booming Putting Penny Stocks In Focus
If there’s one thing we’ve learned by watching the rise, fall, and rise2.0 of Bitcoin, tech stocks love to move in sympathy with the cryptocurrency. What has typically been a boost for blockchain or “bitcoin stocks” has recently become a much bigger catalyst when other things are factored in.
This week, we’ve seen a wild, choppy series of trading days in the stock market. Today, the bulls are clearly back in control, and tech has become a driving force. As they say, “The trend is your friend.” With that, it doesn’t hurt to take a peek at a few leading catalysts in the stock market today. Crypto is clearly one of them as Bitcoin and Ethereum prices surge.
Tech is another possible catalyst. Then you’ve got a bullish picture being painted by small-cap stocks. The Russell 2000 Small-Cap ETF (NYSE: IWM), for instance, is red hot. Rising over 2.8% so far, it is outpacing the intra-day moves of the S&P 500 (NYSE: SPY), Dow Jones (NYSE: DIA), and Nasdaq (NASDAQ: QQQ) ETFs combined.
So, seeing this as the trend, why not look at some small-cap tech stocks right now? In this article, we’ll look at a few companies playing in the sandbox of tech, crypto, and other niches. Will they be on your list of penny stocks to watch heading into the week next week?
Tech Penny Stocks To Watch
- Alpha Esports Tech (OTC: APETF) (CSE: ALPA)
- Elys Game Technology (NASDAQ: ELYS)
- Sphere 3D Corp. (NASDAQ: ANY)
Alpha Esports Tech (OTC:APETF) (CSE:ALPA)
One of the emerging industries that crosses off the check-boxes in tech, crypto, entertainment, and sports is Esports. Believe it or not, this industry could be one of the most forward-thinking when it comes to taking advantage of the virtual ecosystem that has begun to materialize thanks to the pandemic. How? If you remember, back in 2020, when things shut down, digital payment, virtual socialization, and alternatives to traditional sports all gained a place in the mainstream. Fast-forward to the present, and these trends have continued to evolve and expand into somewhat of a hybrid model. We now have traditional entertainment crossing over with the virtual trends that emerged during the pandemic.
Alpha Esports has capitalized on this situation in several ways. First, its esports platform and gaming ecosystem are spearheaded by the company’s GamerzArena platform. The company’s platform is based on building an active community of dedicated gamers. Not only can they play and watch games alongside their peers. They can compete in tournaments to earn prizes through daily tournaments. Since going public earlier this year, Alpha has focused on strategically aligning with some of the top names in sports and Esports with a goal of rapidly expanding its competitive footprint. In fact, earlier this week, Alpha announced a partnership with Oblivion Esports to provide a competitive platform to gamers.
GamerzArena will become the exclusive platform for all of Oblivion’s online esports events, where the Company will host and operate a variety of gaming tournaments under the Oblivion brand. This is just one of many recent deals Alpha has inked over the last few months (See more on Alpha’s deals here). Furthermore, this is just one facet of Alpha’s model.
A Crypto Opportnity In Esports?
In line with the latest surge of interest in all things “crypto,” it may be important to discuss Alpha’s exposure to this niche. As DeFi has come to the forefront of tech and monetization, Alpha has begun embedding itself into this segment. Its Bitcoin-pegged Alpha Coin has been created to allow users to enter contests and tournaments while also giving winners the ability to redeem their Alpha Token winnings for local currency or purchases in the GamerzArena store.
Elys Game Technology (NASDAQ: ELYS)
Sticking with the Esports trend, Elys Gaming is another one of the companies gaining some steam right now. Elys has developed an interactive gaming and sports betting technology platform. One of the budding segments that have come with the evolution of esports is “iGaming.” This is basically sports betting via an online platform.
This month the company reported its latest round of quarterly earnings results. While earnings per share missed estimates, Elys beat on sales. Betting handle increased by more than 100% both during Q2 and year to date. Meanwhile, revenue increased by more than 150% during the second quarter with year to date up over 80%. “Sportsbook operations continued to perform remarkably well resulting in consecutive double-digit hold that is reflected by robust increases in handle and record revenues of $25.8 million for the first half of the year and $11.7 million for the second quarter that exceeded our expectations,” explained Michele Ciavarella Elys’ Executive Chairman.
What’s more, the company’s recently completed acquisition of USBookmaking opens things up for Elys to sportsbook opportunities in the U.S. in 4 states to start.
“Over the next six to 12 months, USBookmaking expects to integrate our recently debuted US Elys Gameboard system on its robust pipeline of new operators, culminating with the conversion of existing operators as such contracts expire in late 2022.”
Sphere 3D Corp. (NASDAQ: ANY)
Another one of the cryptocurrency-related companies on this list of penny stocks is Sphere 3D. It’s been a company discussed many times previously and has continued to uptick thanks to rising cryptocurrency prices.
What does Sphere 3D do? It’s not so much of what it does but what it’s in the process of doing. Earlier this summer, Sphere and Gryphon Digital Mining announced a merger. Since then, ANY stock has gotten a boost in momentum. This merger is expected to close in the third quarter of 2021. So timing has played its own additional role in speculation surrounding the penny stock.
Earlier this month, the company reported stronger year-over-year earnings, which helped boost sentiment surrounding ANY. The company also struck a deal with Gryphon to buy another 250,000 Certified Emission Reductions. These will support the combined company’s ESG commitments following recent plans to “substantially increase” cryptocurrency mining capacity.
With the help of more upbeat sentiment in the stock market today related to cryptocurrency prices, ANY stock has followed the bullish trend that has become apparent recently.
Are Tech Stocks On Your List Right Now?
The tech industry is vast and includes plenty of different niches. Crypto and esports are just a few of the newer, emerging segments attracting attention from investors right now. Both are still in the early stages of market penetration and user adoption. That could mean there could be much more to look forward to as industries evolve. With the rise of bullish sentiment, in general, right now, both higher risk industries have gotten an interesting boost in the market this week. Will any tech stocks be on your list heading into September?
Pursuant to an agreement between Midam Ventures LLC and Alpha Tech INC Midam has been paid $300,000 for a period from February 12, 2021, to April 2, 2021. We may buy or sell additional shares of Alpha Tech INC in the open market at any time, including before, during, or after the Website and Information, to provide public dissemination of favorable Information about Alpha Tech INC. Now extended from 6/30/2021 to October 29, 2021 & no additional compensation of any kind has been received by MIDAM. Click Here For Full Disclaimer.dow jones sp 500 nasdaq stocks pandemic cryptocurrency bitcoin ethereum blockchain crypto etf small-cap russell 2000 penny stocks otc crypto
Distraction As Policy While Our Economic Rome Burns
Distraction As Policy While Our Economic Rome Burns
Authored by Matthew Piepenberg via GoldSwitzerland.com,
Desperation and distraction are masquerading as economic policy. Below we see how and why…and at what cost…
COVID: The Great..
Desperation and distraction are masquerading as economic policy. Below we see how and why...and at what cost...
COVID: The Great Economic and Political Hall-Pass
If every time I stole a cookie from the jar in front of my mom (age 8), or drove dad’s car (sometimes into a tree) without permission (age 16), failed a dorm-room inspection (age 17), broke a lawnmower for driving over a fence post (each year) or forgot a key anniversary (eh-hmm), it would have been so convenient to have a universal “hall pass” to excuse what is/was otherwise just plain stupid behavior.
Luckily for the grown children running our global financial system into the ground, the COVID pandemic is becoming precisely that: “A global hall pass for excusing decades of stupid.”
As we’ve written many times, inexcusably high debt levels, tanking growth data, struggling work force figures, embarrassing wealth disparity and insider market rigging between Wall Street and DC was well in play long before COVID made the headlines.
But now, the architects of such “pre-COVID stupid” have the current COVID narrative to justify and excuse even, well… more stupid.
The Latest Jobs Report “Explained” …
Take, for example, the latest job reports data from those DC-based creative writers at that comic-book publication otherwise known as the Bureau of Labor Statistics (BLS).
Known for years on Wall Street as mathematical magicians capable of turning 12% inflation into a 2% CPI lie, that same BLS is operating yet again to fib away the latest (and otherwise telling) jobs data.
The September jobs report was the second consecutive and disappointing report from the BLS, which they were quick to blame on “pandemic-related staffing fluctuations.”
Hmmm. That’s a nice phrase, no? “Pandemic-related staffing fluctuations.”
But the real description boils down to something more PRAVDA-like under the new Biden Vaccine Mandate, namely: “Obey or we take your job away.”
Needless to say, not everyone is obeying.
Since 2020, employment in local government education is down by 310,000; in state government education, employment is down by 194,000 jobs, and in private education the numbers are down by 172,000.
Why such “staffing fluctuations”?
The answer is simple: Many educated folks in the education sector don’t like being mandated to inject a vaccine into their bodies which by all reports from vaccinated infection rates, is no vaccine at all, but a debatable form of treatment at best.
Thankfully for all of us, I’m not interested in debating the hard vaccine data here, as folks like me should not be proffering unwanted medical expertise, which I clearly lack.
No one, myself included, really knows everything about mutating virology, but I’d wager to say that many of us are more mathematically dubious than Fauci is medically honest…
Jefferson (and History) Ignored
For followers of American history and markets, however, certain ideals and facts are easier to track despite distraction-as-policy tactics.
We are reminded, for example, of how passionately Thomas Jefferson warned us circa 1776 that a private central bank would eventually destroy our nation, and that only an educated population could save it.
Sadly, the new President is taking the inverse approach: Firing teachers and propping bankers.
Fast-forward some 240+ years from our founding fathers to our semi-conscious Biden, and we discover a nation wherein a private central bank effectively finances our national debt while the teachers, students and institutions charged with making citizens wiser, educated and free now find themselves locked out of their offices, classrooms and lecterns.
Seems a little upside down, no?
Red or blue, most of us can agree than nothing coming out of the White House in recent memory remotely resembles the vision or freedom-driven intellect of founding fathers like Jefferson, despite his known flaws.
Instead, we have seen red and blue administrations whose grasp on coherency, let alone math, history, economics or even Afghan geography is questionable at best.
And what does Biden (or his “advisors”) have to say about the recent and scary numbers within a gutted and “locked-out” educational labor force?
Well, you’ll have to see it to believe it..
Really? Really? Really?
That’s right folks.
The President of the United States, home to the world’s reserve currency and former beacon of global freedom, is telling Americans not to worry about the slow death of genuinely informed dissent (as well as educational access and jobs) or the attempted popularizing of otherwise tyrannical mandates, but to focus instead on the vaccine rates at United Airlines?
The leader of the free world is boastfully telling us that the “bigger story” is a fully vaccinated United Airlines (who were forced to choose between a jab or job), so why worry about the problems in that silly ol’ educational sector or outdated Bill of Rights?
Playing with Minnows While Ignoring Whales
Where ever one stands on the understandably divisive vaccine issue, how can anyone compare a private airline’s vaccine rate to a national education, civil liberty and employment crisis?
Why are politicians, Davos dragons, statisticians, media bobble-heads and central bankers focusing our/your attention more on a virus with a case fatality rate of less than 0.5% than they are on openly addressing whale-sized issues like unsustainable debt, rising inflation, embarrassing labor inequality, a dying currency or even more declining GDP?
Deliberate and Desperate Distraction as Policy
Well, history tells us why.
As anyone not banned from a classroom knows, the history of desperate leaders seeking to distract, censor and control the masses in times of a self-inflicted and debt-induced cycle of internal economic rot is long and distinguished.
As Biden doubles down on the bad (yet deliberately distracting) hand of what was hoped to be an optically humanitarian policy of vaccine mandates, the masses are getting restless as well as fired…
Criminalize the non-consenting as anti-vaccine, anti-science or anti-American “flat-earthers” while denying open discussion on such otherwise relevant topics as basic math, constitutional law, calm science or individual rights…
Meanwhile, those who won’t tow Biden’s increasingly incoherent mandate (or Don Lemmon’s always coherent ignorance) are losing jobs and/or forced to prioritize (in a Jeffersonian way) individual liberty over financial security.
Ben Franklin, of course, said those who surrender liberties for security deserve neither.
In such a polarized backdrop, everyone, pro or anti-vaccine, loses.
Informed, open and calm debate has been replaced by a contradictory, censored, sanctimonious and hysterical autocracy from prompt-readers to political puppets.
So much for leading the free world… Let me remind Biden to consider the words of another founding father, Thomas Paine:
“I have always strenuously supported the right of every man to his own opinion, however different that opinion might be to mine. He who denies to another this right, makes a slave of himself to his present opinion, because he precludes himself the right of changing it.”
As someone who studied and practiced constitutional law, worked within a rigged Wall Street and read nearly every book I could find on America’s founding fathers, I can say without hyperbole that I no longer recognize the country (or values) of my birth nation.
As Franklin also noted, “All democracies eventually die; usually by suicide.”
But let’s get off my high-horse and back to those job reports…
Conviction vs. Employment
As Bloomberg recently noted, the result of these “pandemic-related staffing fluctuations” is a bit alarming.
The following critical industries are witnessing the following job-loss percentages: Nursing and Residential Care (-1.26%); Local Government Education (-1.83%); Community Care for the Elderly (-2.20%) and lodging (-2.25%).
But thank goodness that despite a deliberate weaning of nurses, teachers and elderly care experts, United Airlines is nearly fully vaccinated and our Motion Picture Industry (universally known for its astounding political and financial wisdom) is seeing a +4.21% job increase.
Awe, but as Johny Mellencamp would say, “Aint that America?”
Now instead of more employed and free-thinking nurses, teachers and students allowed to gather, speak and think freely at their own campus or clinic, we can be glad that jobs in Hollywood, like DC, are growing to keep us living on more fantasy rather than actual, informed and hard-earned knowledge.
Oh, and the Economy…
But rather than just rant otherwise rhetorical sarcasm, let’s get back to those other barbaric (and soon-to-be empty) old-school disciplines like economics…
Biden’s mandates are more than just evidence of distraction as policy and constitutional interpretation/usurpation, they have direct impacts on our financial lives outside of the deliberately exaggerated vaccine debacle/debate.
Let’s go down the list of what economics taught us years ago, when we were allowed to enter a classroom:
- Stagflation Ahead.
As more and more folks are locked out of work, the entitlement costs for these “un-American” free-thinkers will rise, placing greater inflationary pressures upon a deliberately constrained rather than open economy.
Rising inflation + slowing economic activity = stagflation.
Prepare for this, as that’s what’s coming.
Inflation, by the way, is an invisible tax on those who can afford it the least. Thanks again Powell et al for shafting the middle class…
- A Divided States of America
A country which once revered open rather than censored debate, investigative rather than complicit journalism, and respected rather than polarized differences of opinion, is becoming increasingly factionalized, divided and angry.
Jab or no jab, I fully respect both views. Can’t we all do the same without a “mandate”?
Like Thomas Paine, I hope so, because as Thomas Jefferson warned, we face far greater economic and political threats ahead than COVID.
Rather than accountability, transparency and cooperation, leadership today is defined by fantasy and magic, from magical money created at the Fed to magical employment and CPI data downplayed at the BLS.
Whenever backed into a debt corner of their own design, leaders employ a familiar combo of boogeyman and salvation narratives to divert the masses away from the slow-drip erosion of their personal liberties, dying currencies and debt-driven stagnation.
This distraction-as-policy is happening right now. The rise of the COVID narrative in 2020 is more than a coincidence. It’s a conveniently exploited opportunity for political and financial opportunists.
- More Centralized Controls and Fake Markets
With debt levels far beyond the Pale of productivity levels (i.e., embarrassing debt to GDP ratios), the U.S. and other developed economies are mathematically and factually unable to ever grow their way out of the debt hole they have been digging us into for years.
Period. Full stop.
If I know this, and if you know this, well…they certainly know this too in DC.
The only difference is that these policy makers, like most kids caught with a hand in the cookie jar, are incapable of admitting fault.
Instead, today’s “leadership” can blame their economic and policy failures (and self-preservation rather than “service” instincts) on something else—i.e., “COVID did it.”
But as we’ve voiced elsewhere, the debt time bomb, growth declines, social unrest, wealth disparity and failing political credibilities in play today were already a major problem BEFORE COVID.
Now, as then, the empirical data objectively confirms that tanking manufacturing data, jobs growth, economic productivity, broken supply chains, scary transport numbers and political mistrust can never service the over $28.5T in public debt sitting on Uncle Sam’s bar-tab.
As a natural result, we can therefore expect far more “accommodation” (i.e., monetary expansion) from the Fed, and far more “Fiscal Stimulus” (i.e., deficit spending) from our comical legislature ahead.
Stated otherwise: Get ready for more real debt, fake money, centralized controls and hidden wealth destruction.
Zombie Stocks, Bonds and Bankers: Too Big to Fail 2.0
Sadly, one of the only forms of income which Uncle Sam enjoys today is the capital gains receipts from a bloated, rigged and artificially Fed-supported stock market.
This means we can anticipate more “stimulus” for a zombie, crack-up-boomed market well past its natural expiration date.
The same is true of for government IOU’s. No one wants our bonds. 2020 saw $500B in foreign outflows rather than inflows for US Treasuries.
So, who will pay Uncle Sam’s bar tab now?
Easy: Uncle Fed at the Eccles Building down the avenue from a Treasury Department now led by a former Fed Chairwoman.
One really can’t make this crazy up. It’s all that real, that rigged and that true.
The U.S. debt crisis is now being “solved” by a circular loop of a Wall Street and a White House children tossing their hot potatoes of bad debt (MBS and sovereign) around until they are bought with money created out of thin air by the Fed.
And yet despite such insider support, rigged markets and “accommodated” securities, even the rising tax receipts from these bloated markets are not enough to cover the interest expense on Uncle Sam’s bar tab.
In short, US Treasury bonds and stocks are openly supported Frankenstein-assets kept alive by a central bank and White House cabal (sorry, Mr. Jefferson…) who blame every problem (and justify every expenditure) on a virus rather than confess to the cancerous reality of over 20+ years of their open and obvious mismanagement of a rigged banking and distorted financial system.
But rather than account for such sins, we can expect a bigger bail-out rather than an honest confession…
In 2008, for example, the response from DC and NYC to bankers gone mad was to declare bankrupt banks as “Too Big to Fail.”
Fast-forward some 13 years later and that same toxic duo of bankers and politicos have now effectively telegraphed that bankrupt government bonds and private stocks are also “too big to fail.”
That ought to anger an informed population. But instead, we are fighting about masks, vaccine shaming and Prince Harry’s sensitive upbringing.
So far, the distraction-as-policy technique seems to be working in favor of the foxes guarding our financial henhouse.
Signal More Currency-Debasing “Miracle Solutions”
Which brings us right back to a harsh but increasingly undeniable yet ironic reality.
If objectively broken bonds, stocks and financial regimes are too big to fail, then the only way to “save” them is with more mouse-click-created currencies which are too debased to succeed.
As precious metal and other long-term, real-asset investors long ago understood, currency expansion is just another name for currency debasement.
In other words, eventually, all that “system saving” new money simply drowns the system it was allegedly designed to save in ever more debased dollars.
Again, it’s just that tragic and just that simple.
Yes: More monetary and debt expansion can buy time and rising markets.
But those markets are measured in currencies which time has equally taught us lose their value with each passing second.
And the only ones paying for that time are you and I–with dollars, euros, yen and pesos whose purchasing power and inherent value are tanking faster than the credibility of the folks who brought us to this historical and debt-driven turning point.
Stated bluntly: The financial and political leadership of the last 20+ years has placed the global financial system into a debt corner for which there is no exit other than deliberate inflation (and hence currency debasement).
This foreseeable disaster, however, is now conveniently blamed on a current pandemic rather than a grotesque history of equally grotesque mismanagement by policy markets who have confused debt with prosperity and double-speak with accountability.
Wouldn’t it be nice if such economic topics were making at least as many headlines as the latest infection rates?
Meanwhile, the mainstream media pursues plays chess with context-empty headlines, bogus job data and ignored debt bombs as our economic Rome (and currencies) burns silently around us all.
Udemy IPO: EdTech Unicorn Filing Information for Investors
Paperwork for the Udemy IPO is now public. The online learning platform is going public on the Nasdaq under the ticker UDMY. Here’s the latest news…
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Paperwork for the Udemy IPO is now public for investors. The online learning platform is going public on the Nasdaq under the ticket UDMY. Let’s look at the details…
Udemy IPO: About the Business
Eren Bali, Oktay Caglar and Gagan Biyani founded Udemy in 2010. The three partnered together to achieve a common goal: make quality education accessible to all. The solution was to develop an online learning platform targeted at students and professionals.
Udemy is a massive open online course provider today. The platform has a two-sided marketplace where instructors develop content to meet learner demand. The learning experience combines videos, notes and assessment tests into a series of modules.
The San Francisco-based company has a client base of over 44 million learners in more than 180 countries. Udemy offers over 183,000 courses in 75 languages. Over 73 million users have registered on Udemy since its launch.
Courses are available directly to consumers. The company also offers UDemy Business as its B2B (business to business) learning solution. Organizations can use it to train and develop their employees. 42% of Fortune 100 companies use Udemy Business, according to the filing.
In response to the pandemic, industries have needed to acquire new skills. And ongoing changes in the workplace could make the Udemy IPO an interesting prospect.
Pandemic Accelerates Industries’ Need for New Skills
Changing technologies and new working methods have impacted jobs across the board and made it difficult for workers to keep up. Adapting to rapidly changing conditions is an ongoing challenge for workers across all industries. The roles and activities of workers will have to adapt to new conditions.
The revolution goes far beyond remote working, AI and the use of automated systems. Many people have found a new normal in the workplace. And leaders will need to reskill their workers to deliver new business models in a post-pandemic era.
In a 2021 Workplace Learning Trends Report, Udemy revealed that industries have increased demand for data analysis and data science training.
Data shows companies increased their data modeling training by 466% between 2019 and 2020. In addition, there was an increase of 1,488% in data warehouse training.
This represents a major focus on skills development and continued learning in business. However, the pandemic has affected Udemy in far more ways than just its business platform.
COVID-19 is Reshaping Education Long-Term
A 2020 Udemy report revealed that online education demand increased across all segments as a result of COVID-19. Here are some of the key findings…
- 425% increase in enrollments for consumers
- 55% increase in course creation by instructors
- 80% increase in usage from businesses
Udemy’s prospectus states…
Before the COVID-19 pandemic, the majority of corporate training occurred offline, and we believe that online education is well placed to address the scalability and affordability limitations of offline education. With the increase of internet connectivity, technological advances and interactive tools at a low cost, we expect a massive shift from offline to online.
A 2020 report showed that course enrollments across the Udemy platform grew more than 425% after the first shelter-in-place order took effect. Online learning trends emerged due to the pandemic.
Some of these changes may give a preview of more permanent changes in the way we learn and work in the post-pandemic era. And these trends reflect in Udemy’s revenue and cash flow. Let’s review the company’s finances…
Udemy IPO Financial Data
Revenue: The filing revealed an upswing in revenue. Udemy recorded $276.3 million in revenue for the 2019 fiscal year. In 2020, Udemy’s revenue rose 56% to $429.9 million for the year. Revenue is on track to keep increasing this year. For the six months ended June 2021, the company reported $250.6 million in revenue.
Net Income (Loss): Udemy has reported consistent net losses. For the 2019 fiscal year, the company recorded $69.7 million in net losses. Udemy’s net losses rose to $77.6 million in 2020. For the six months ended July 2021, the company reported $29.4 million net losses. Udemy’s net losses for the half-year ended June 2020 were already $42.5 million, so 2021 should hopefully see declining losses.
Cash: Udemy recorded a massive increase in cash flow in 2020. The company recorded $49.1 million in cash as of December 2019. By the end of 2020, cash skyrocketed to over $175 million. However, the company’s cash decreased to $163.2 million as of June 2021.
Total Assets and Total Liabilities: Udemy’s total assets and total liabilities have grown. The company recorded $117.3 million in total assets and $187.2 million in total liabilities as of December 2019. As of June 30, Udemy’s total assets rose to $286.7 million and total liabilities rose to $279.2 million.
Filing Details for UDMY Stock
Udemy filed confidentially on May 26. The paperwork became public for investors on October 5. However, the company hasn’t set terms for the offering yet. Check out this step-by-step guide to going public to learn more about the initial public offering process.
The company hasn’t announced the number of shares it plans to offer or an expected pricing range for the IPO. Udemy will trade on the Nasdaq exchange under the ticker symbol UDMY.
While the exact terms of the offering are unknown, the company has set a placeholder deal size of $100 million. As a matter of fact, the company is rumored to be targeting an initial valuation of between $6 billion and $8 billion.
As always, make sure to research before you invest. IPOs can be volatile for the first few months and share prices are constantly changing. Moreover, if IPO investing interests you, check out our top recent IPOs and our IPO calendar. We update the calendar daily to give you the latest news on upcoming and filed IPOs.
If you’re looking for the latest investment opportunities, consider signing up for Liberty Through Wealth. This free e-letter is full of market insights from leading experts. You’ll hear from bestselling author and investment expert Alexander Green. It’s one of the easiest ways to stay on top of market news out there. All you need to do is enter your email address in the box below to get started.
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Mark Mahaney reveals his top picks ahead of earnings
The U.S. stock market is likely to be eventful in the upcoming weeks as companies continue to report their quarterly results. Ahead of earnings, Mark Mahaney said Netflix Inc (NASDAQ: NFLX) and Uber Technologies Inc (NYSE: UBER) are set to “outperform”…
The U.S. stock market is likely to be eventful in the upcoming weeks as companies continue to report their quarterly results. Ahead of earnings, Mark Mahaney said Netflix Inc (NASDAQ: NFLX) and Uber Technologies Inc (NYSE: UBER) are set to “outperform” in the fourth quarter.
Mahaney confirms his outperform rating on NFLX
On Friday, Mahaney rated Netflix at “outperform” with a price target of $695 that represents a 10% upside from here.
The Evercore ISI analyst expects a strong content slate to drive much of the growth for the media giant in the fourth quarter. He is convinced that content strength will sustain in 2022 as well.
In August, Netflix resorted to another price hike in Europe that Mahaney says would help boost the average revenue per user. The California-based company recently partnered with Walmart Inc to launch Netflix Hub – a new retail destination focused on Netflix merchandise.
Netflix is set to report its quarterly results on October 19th.
Mahaney sees a 45% upside in Uber Technologies
Also on Friday, Mahaney reiterated Uber at “outperform” with a price target of $70 a share that translates to a roughly 45% upside from here.
His bullish call is partially based on Uber Eats – the fastest-growing U.S. food delivery business. Demand for ride-sharing is also likely to gain traction in the upcoming months as COVID-19 restrictions continue to ease.
At current levels, Uber is a “very attractive” buy, Mahaney added in his research note. The California-based company will report its quarterly results on November 4th. Last month, CEO Dara Khosrowshahi said Uber will hit its profitability milestone ahead of schedule.
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