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Weekly Update: January 31, 2022
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Breaking News
It seems like week in and week out the big money in the market puts another potential disruptive event like the Ukraine crisis behind us even with Tom Brady retiring…
Joe Rogan apologized after his blast at Spotify Tesla is up $90.00 at the close and all is well in the world.
Technology and consumer discretionary are up with gains of 1.3% and 2.5%, respectively. The consumer discretionary sector’s gain today is the best since March 9 of last year, says Dow Jones Market Data. The index is working on its best two-day rally since November, 2020.
The Technology Select Sector SPDR (XLK) ETF, which made a positive reversal to close the week, is up nearly 7% since Thursday’s close. Transportation SPDR (XTN) climbed 1.6%.
Stock Market Extends Rally As Nasdaq Adds More Than 2%; S&P 500 Tops Key Level
The Nasdaq soared 2.2%, adding to Friday’s 3.1% jump. The index is trying to remove resistance at the 14,000 level, so watch how the index trades around that level. The S&P 500 rose 0.9% and is back above the 200-day moving average, at least for now.
The S&P 500 is still on pace for its worst month since March 2020, off more than 6%. It’s also the worst January since 2009, according to Dow Jones Market Data. Historically, when the S&P falls more than 5% in January, the next month has an average return of -1.1%. But the rest of the year ends higher 70% of the time, with an average gain of 2.6%.
The Dow Jones Industrial Average edged up 0.2% and also needs to make a move above the 200-day line. After surging 10.6% Friday on its earnings report, Visa (V) gave back 1.5%.
Small caps caught up after lagging earlier. The Russell 2000 climbed 1.2%. Volume fell on the NYSE and Nasdaq compared with the same time on Friday.
Corporate News
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1-18-2022 SRAX (NASDAQ: SRAX)
SRAX Announces Q4 Shares Repurchased and Dividend Payment
LOS ANGELES, Jan. 18, 2022 (GLOBE NEWSWIRE) — via InvestorWire — SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, has announced the quantity of shares repurchased in the fourth quarter of 2021, as well as the first payment being made for the previously issued dividend.
Throughout the three months preceding December 31st, 2021, the Company repurchased approximately $800K worth of stock made up of 155,000 thousand shares of common stock at an average price of $5.12 per share. This was part of the Company’s $10 million share buyback program announced on August 17, 2021.
1-17-2022 Apollo Future Mobility Group (HK:860)
Greenridge Global Research provides Update
Changes to Board & Management Team. On Thursday, AFMG announced changes to the management team and Board, highlighted by the addition of Freeman Hui Shen as Co-Chairman of the Board. Mr. Shen is the founder, Chairman and CEO of WM Motor Group, a Chinese-based EV manufacturer, and largest shareholder of AFMG. Mr. Shen will also serve as Chair of the Nomination Committee and as a member of the Investment Committee of the Board. Joseph Lee was appointed as an Executive Director, Vice Chairman of the Board, and a member of the Investment Committee and Corporate Governance Committee. Mr. Lee brings over 15 years of private equity and investment banking experience to AFMG, will earn HK$200,000 per month in salary, and was granted 40,000,000 ten-year options exercisable at HK$0.44. Eric Ho will no longer serve as Chair of the Nomination Committee and will now serve as Co-Chairman instead of Chairman. With the reduction in shareholding and entrance of WM Motors, it is unclear how involved Mr. Ho will be going forward.
H2:21 Results. AFMG reported H2:21 Revenue of HK$287.5 million, well ahead of our estimate due to the higher than expected contribution from the legacy Jewellry business. The Auto business was lower than we expected, at HK$60.6 million, due to a delay in deliveries of two IE vehicles. As the Company has noted, the ESO business continues to build and it expanded last year to accommodate that growth. Operating expenses were roughly in line with our expectations. Non-operating expenses and losses in the period were mostly related to legacy assets or the contingent accounting for acquisitions. Net Loss for the period was HK$147.8 million, or HK$1.71 per diluted share.
Model Update. We shifted the two delayed IE deliveries into fiscal 2022 and added in the 125,000,000 ten-year stock option grant, exercisable at HK$0.445 into our model. We left everything else relatively unchanged as AFMG moves towards more rapid growth on multiple fronts.
Maintaining Rating & Target. The addition of Mr. Shen as Co-Chairman is a logical step to better align WM Motors and AFMG. We continue to believe the Company is significantly undervalued based on the sum of its parts, and expect that discount to fair value to decrease as its investment holdings move towards being publicly listed. We remain optimistic on AFMG’s potential and are reiterating our Buy rating and HK$1.50 target price on Apollo Future Mobility Group. Our target price is based on a P/E multiple of 25 times our fiscal 2023 Diluted EPS estimate of HK$5.75 cents, which falls just before the launch of the Apollo EVision S.
1-10-2022 SRAX (NASDAQ: SRAX)
Dawson James issues Research Update
Raising Estimates and Price Target to $13.00
| SRAX announced full year and Q1 revenue guidance far above our and consensus estimates. We are raising our estimates and price target, from $11.50 to $13.00 to reflect continued strong growth in the Sequire platform. |
We are raising our estimates for 2022 and our price target after the company announced revenue guidance for Q1 and the year far ahead of our and consensus estimates. For 2022 we are now projecting revenue of $45.5 million, at the low-end of company guidance of $46 to $48 million and an increase from our prior estimate of $38.4 million.
We estimate there were 250 Sequire customers at year-end 2021 and have modeled 415 by the end of 2022, an increase of 165, an acceleration from the 125 added in 2021. Average revenue per subscriber, per month, in 2021 was over $11,000. We have assumed this declines slightly, to $10,750 per month in 2022.
8-19-2021 SRAX (NASDAQ: SRAX)
Trickle Research issues Research Update
24 Month Price Target to $7.50
On 08/16/21, SRAX reported 2Q-F21 results, and those results and associated comments included a handful of interesting data points. We will try to briefly recap the most cogent of those.
First to recap, in some of our prior research we have tried to provide some pro forma glimpses of SRAX’s operations without the consolidation of BigToken. Recall, SRAX spun their BigToken division into a separate public company; Force Protection Video Equipment Corp. (OTC: FPVD) dba: BigToken. In short, because of their relative (majority) ownership of FPVD, SRAX is required to continue consolidating those results. Unfortunately, in our opinion, that consolidation continues to “muddy the water” and impedes the evaluation of SRAX in the context of its core Sequire business. Our hope is that they/BigToken will be able to execute an arrangement that will allow SRAX to report results that are not consolidated with those of FPVD.
The above noted, SRAX’s Sequire platform continues to gather momentum, so we will try to focus on that notion.
12-30-2021 CanB Corp (OTC CANB)
Can B Corp.’s Pure Health Products Awarded NSF’s GMP Certification
Independent Certification Enables the Company to Produce for Major Retailers Worldwide
HICKSVILLE, NY, Dec. 30, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a health and wellness company specializing in developing, producing, and selling hemp-derived cannabinoid products, is pleased to announce that its Pure Health Products subsidiary has earned NSF International’s NSF/ANSI 455-2 dietary supplement GMP certification for its manufacturing facility in Lacey, Washington.
Marco Alfonsi, Can B’s Chief Executive Officer, stated, “This independent certification from the global public health organization demonstrates our commitment to personal care product quality and compliance with U.S. GMP requirements. It verifies that our manufacturing facility has the proper methods, equipment, facilities, and controls in place to produce dietary supplement products. The significance of the award is that it now allows us to process for any establishment throughout the planet.”
12-20-21 SRAX (NASDAQ: SRAX)
InvestorNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Enters Strategic Media Agreement with SRAX Inc. (NASDAQ: SRAX)
Lexaria Bioscience (NASDAQ: LEXX, LEXXW), a global innovator in drug delivery platforms, has announced its entry into an advertising and media agreement for media buys and digital marketing with SRAX (NASDAQ: SRAX). Under the agreement, SRAX will act as the agent for Lexaria and will engage and manage media companies to create advertising materials and distribute them on internet platforms as well as manage the flow of such media distributions. SRAX will employ leading-edge analytical algorithms in order to maximize engagement. “Lexaria is pleased to be working with SRAX to inform and engage a broad investor community in this significant, year-long media outreach campaign,” said Chris Bunka, CEO of Lexaria Bioscience. “Lexaria has made tremendous progress during 2021 and we expect even more significant advancement in 2022 and are pursuing the broadest possible investor involvement to ensure that Lexaria’s achievements are communicated to all investors.”
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| January 31, 2022 COMPANY QUOTES, LISTINGS RESEARCH AND NEWS Antibe Therapeutics, Inc (ATBPF) Profile 11/11/2018 News Can B Corp (CANB) Profile News Endurance Exploration Group, Ltd (EXPL) Profile 03-26/19 News Social Reality, Inc. (SRAX) Profile News Apollo Future Mobility Ltd. (HK 0860) Profile 2/23/2020 News |
ValuEngine Weekly Report
Indexed Bond ETFs to Gain Assets and Liquidity
January 31, 2022 by Paul Henneman
Lost in all the market volatility and concerns about interest rate hikes and inflation was a regulatory ruling with major implications for asset capture in the ETF industry. The New York State Department of Financial Services is the state’s insurance regulator. In December it published a new regulation that, until Jan. 1, 2027, allows shares of an ETF to be treated as bonds for the purpose of a domestic insurer’s risk-based capital report provided the ETF meets certain criteria. The two most pertinent criteria are that the ETF tracks a bond index and has at least $1 billion in assets under management. Why is this so important? At the end of 2019, the US Insurance industry reported holding more than $4.5 trillion in bonds.
ValuEngine new strategies, Podcast introduction
ValuEngine Capital Management LLC (VECM) is pleased to announce the addition of Jordan Kimmel to the team as the new Chief Equity Strategist and portfolio manager. VECM is a Registered Investment Advisor (RIA) that invests based on the proprietary, quantitative research produced by ValuEngine Inc. It is an important partnership between two companies: ValuEngine conducts research, and ValuEngine Capital Management LLC actively trades client funds using this research.
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Event Calendar Updates
SRAX to Host the 2022 Sequire Metals & Mining Virtual Conference on January 27th, 2022 a great success
LOS ANGELES, Jan. 13, 2022 (GLOBE NEWSWIRE) — via InvestorWire — SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, announced it will host the first ever Sequire Metals & Mining Conference, a one-day investor event featuring prominent public mining companies and industry experts.
Rocky Mountain Microcap Conference VIII.
November 3, 2021 conference at TopGolf in Centennial Colorado was a great success with a higher than normal turnout.
Check it out and watch the presentations at:
LD Micro Main Event
October 12-14 Los Angeles.
This conference was a great success
All presenting company video calls will be available to view for 3 months. Visit the event website to see all the presentations: https://ldmicrojune2021.mysequire.com/
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