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Silver Miner’s retail investor-Fueled SurgeSilver-exposed stock $ASM climbed early on Monday, after a surge in retail trading pushed the price of the precious metal to an eight-year high. Silver has rallied in recent days as some users on social media have seemingly turned their attention to the metal. “What we don’t know is exactly how this is happening,” said Markets.com analyst Neil Wilson. “Clearing out of shorts by worried hedge funds, retail-driven bid, ETFs flows driving the physical market, smart-money front-running the trade, or a combination of all these,” he added. The surge came after the dual-listed miner, which has a silver operation in Mexico, disclosed last week plans to sell up to $25 million of newly issued shares into the U.S. market. Exactly what kinds of investors are behind the current run-up in metal prices and silver-exposed stocks is uncertain, but clearly opportunities have arisen. A number of posts on the WallStreetBets forum advocated buying silver, while #silversqueeze has also been trending on Twitter. However, many posts also argued against the trade. “The issuer community will flood the market with capital raises, particularly the U.S.-listed ones who can access the superior liquidity with ‘at the market’ equity issuances,” www.barrons.com finance.yahoo.com
AMEX:ASM
by AlenCiken
Latch to Merge with TSIA SPAC and Become Publicly Listed CompanyLatch, Maker of Full-Building Enterprise SaaS Platform LatchOS, to Merge with Tishman Speyer-Sponsored SPAC and Become Publicly Listed Company Provides Capital to Accelerate Latch's Expansion and Drive Enhanced Growth; More Than One-in-Ten New Apartments in the U.S. Built with LatchOS in 2019 Latch to Have up to $510 Million in Cash, Including $190 Million in PIPE Investments Anchored by Funds and Accounts Managed by BlackRock, D1 Capital Partners, Durable Capital Partners LP, Fidelity Management & Research Company LLC, Chamath Palihapitiya, The Spruce House Partnership, Wellington Management, ArrowMark Partners, Avenir and Lux Capital -- Transaction Values Latch at Equity Value of $1.56 Billion Post-Money The Company has booked over 300,000 units across more than 35 states, with one in ten new multifamily apartments in the United States built with Latch in 2019. "Latch has successfully created an entire ecosystem around our full building operating system, devices, and partners that enhances the building experience for both owners and residents," The Company has generated strong results to date, including $167 million in Booked Revenue1 in 2020, which represents 49 percent growth from 2019; zero customer churn leading to 100 percent Gross Revenue Retention2; and a strong SaaS company Lifetime Value (LTV) to Customer Acquisition Costs (CAC) ratio of 6.8x3. The transaction, which has been unanimously approved by TSIA's board of directors, is expected to close in the second quarter of 2021. finance.yahoo.com
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by AlenCiken
Sunlight Financial LLC to List on NYSE Through Merger With SPRQSunlight Financial LLC, a Premier Residential Solar Financing Platform, to List on NYSE Through Merger With Apollo-Affiliated Spartan Acquisition Corp. II Sunlight and Apollo-Affiliated Spartan Acquisition Corp. II (NYSE: SPRQ) Enter Into Business Combination Agreement Institutional Investors Led By Chamath Palihapitiya, Coatue, Funds and Accounts Managed by BlackRock, Franklin Templeton and Neuberger Berman Commit to Invest $250 Million at Closing in Common Stock PIPE at $10.00 per Share Pro Forma Implied Equity Value of the Combined Company is Approximately $1.3 Billion Sunlight has arranged financing for more than an estimated 100,000 residential solar systems, which will produce over 500 megawatts of solar-generated electricity and avoid more than 10 million metric tons of carbon dioxide emissions. Leading POS platform through which over $3.5 billion of loans have been originated in the rapidly growing residential solar market Upon the closing of the transaction, existing Sunlight equityholders are expected to own approximately 50% of the combined company, Spartan stockholders are expected to own approximately 26%, and PIPE participants are expected to own approximately 19%. The transaction is expected to close in the second quarter of 2021. finance.yahoo.com
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by AlenCiken
This Penny Stock NMTR Could soar 462% in 2021The company’s development pipeline features drug candidates under investigation as treatments for short bowel syndrome (SBS) and celiac disease (CeD), two conditions that are both dangerous and difficult to treat. 9 Meters’ flagship product, Larazotide, is in Phase 3 development for the treatment of CeD. CeD affects about 1% of the population, yet there are no approved therapies. Top-line data from the study is expected in the second half of 2021. Furthermore, this past December, the company announced that it had entered an agreement with EBRIS, the European Biomedical Research Institute of Salerno, to investigate Larazotide as a potential treatment for respiratory complications due to COVID-19. The other major drug in the company’s pipeline is NM-002, for SBS. The company has recently announced positive Phase 1b/2a results, with a measurable impact on disease symptoms from a compound that was well-tolerated by patients. ne of these NMTR bulls is Truist’s Srikripa Devarakonda. Citing Larazotide as a key component of his bullish thesis, the analyst noted, “We acknowledge investors are likely to see a pivotal trial in a tough-to-crack Celiac disease program as high risk despite encouraging Ph2b data. We model $705M/$353M in peak unadjusted/adjusted sales and see potential upside of 400% - 1650% from positive Ph3 readout.” finance.yahoo.com
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by AlenCiken
Closing of $103.5 Million Upsized Initial Public OfferingLMF Acquisition Opportunities, Inc. Announces Closing of $103.5 Million Upsized Initial Public Offering, Including Full Exercise of the Overallotment Option the closing of its upsized initial public offering of 10,350,000 units, which included the full exercise of the underwriters' over-allotment option, at a price of $10.00 per unit. Each unit consisted of one share of Class A common stock and one redeemable warrant, each warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. finance.yahoo.com
NASDAQ:LMFA
by AlenCiken
SIEB Soars as Reddit Feed Targets Another Short SqueezeBrokerage Firm Siebert Soars as Reddit Feed Targets Another Short Squeeze SIEB spiked Friday after the brokerage firm became the latest stock to attract the attention of ordinary investors prompted by a Reddit message board called WallStreetBets. Siebert, which does retail brokerage business through its Muriel Siebert subsidiary, said that it has not released any news on Friday, Dow Jones reported. WallStreetBets has been trying to collectively push shares of these companies higher in a bid to force hedge funds and other large investors to abandon their short positions -- bets that stock prices will decline -- in those companies. www.thestreet.com
NASDAQ:SIEB
by AlenCiken
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$SPY still trading within ascending channelI was thinking last night that if SPY would open below $370, it would have would broken from trading inside the channel and start a possible downtrend. The bounce at the bottom the trendline held, but unless it breaks above $382 within the next week, I think bulls will start taking profits and look for a dip before continuing buying. Market has been strong, propped up as it may seem, but I can see the momentum changing to bearish once it breaks below $370.
AMEX:SPY
by archi_trader
Reddit army buying heavily shorted REV stockShares of REV were jumping again as a massive short squeeze on consumer stocks continued into its third day. The squeeze instigated by a group of traders on Gamestop has now spread to other heavily shorted stocks There was no news out on any of these three stocks today, and certainly nothing of the kind that would generate this kind of movement for fundamental reasons. Instead, traders on platforms like Reddit have figured out that they can take advantage of heavily shorted small-cap stocks if enough of them start buying them, and that's what's happened with REV stock. When a stock is shorted and starts to go up, short-sellers eventually have to buy back the shares or risk further losses, including a margin call forcing the repurchase. At Revlon, 31% of the stock's float was sold short as of the end of December. www.fool.com
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by AlenCiken
Overstock to be limited partner in blockchain fundOverstock Partners with Pelion Venture Partners to Oversee Medici Ventures’ Blockchain Assets Overstock to be limited partner in blockchain fund OSTK today announces it will be converting Medici Ventures, Inc., its wholly owned blockchain-focused subsidiary, to a limited partnership (the “Fund”). An entity within Pelion Venture Partners, a third-party venture capital firm with a proven track record of successfully investing in early stage companies, will act as the general partner of the Fund. Pelion has blockchain and technology expertise with early stage companies and has helped guide many companies to economic success. Under the arrangement, which will close after obtaining necessary legal and regulatory approvals, Medici Ventures will be converted into a limited partnership. finance.yahoo.com
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by AlenCiken
CVLB Expects 2020 Revenue up 205% to Record $38.0 MillionConversion Labs Expects 2020 Revenue up 205% to Record $38.0 Million, Subscription ARR up 525% to $26.0 Million preliminary unaudited results for its fourth quarter and full year ended December 31, 2020. Revenue for the fourth quarter is expected to total $13.6 million, up 265% from $3.7 million in the fourth quarter of 2019. Revenue for the full year is expected to total $38.0 million, up 205% from $12.5 million in 2019. We ended the year exceptionally strong, with December revenues hitting a monthly record of $5.1 million, up 321% over December of last year. In fact, December 2020 alone eclipsed the whole of the fourth quarter of 2019.” ual recurring revenue (ARR) generated by subscriptions reached $26.0 million by the end of the year, up 525% compared to the end of 2019 (see description of ARR, below). ARR increased by more than $3.0 million from November to December—another record-setting monthly gain. “Given our extensive telehealth platform buildout in 2019, we were prepared when the breakout of the COVID-19 pandemic suddenly accelerated the consumer shift from traditional healthcare to telemedicine,” expect 2021 to be our biggest year yet.” finance.yahoo.com
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by AlenCiken
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PBI jumps on positive pitch from Seeking Alpha contributorPitney Bowes jumps on positive pitch from Seeking Alpha contributor Pitney Bowes (NYSE:PBI) gains 40% after a Seeking Alpha contributor writes that the stock is "significantly" undervalued vs competitors and a break up or sale of company would unlock value. Expects PBI's global e-commerce business to be profitable for first time ever when earnings are released on Feb. 2. Highlights that Legendary investor Bill Miller owns PBI and believes e-commerce segment on a standalone basis is worth $12/share, citing 3Q Miller investor letter. PBI short interest "nearly" 20% of float www.reddit.com
NYSE:PBI
by AlenCiken
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