Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Earlier this month, ChromaDex Corp (NASDAQ:CDXC) released Q2 earnings, indicating high single-digit revenue growth for FY22, driven by its global e-commerce business, offset by slower growth with new and existing partners.
- For FY22, the company expects approximately 60% gross margin, while selling and marketing expenses should be down as a percentage of net sales.
- ChromaDex also expects to report a roughly $1 million Y/Y increase in R&D and approximately a $6-7 million decrease in G&A expense, driven by lower legal expenditures.
- HC Wainwright says that focusing on the e-commerce business and pivoting away from expensive sales channels should make operations more efficient but notes that the revenue growth trajectory may be slower than initially anticipated.
- The analysts expect FY22 sales of $74 million, growing to $100 million in 2023, vs. the $80.3 million and $110 million initially expected.
- HC Wainwright reiterates the Buy rating while modulating the price target to $5.50 from $7.
- The analysts also see the company approaching cash flow break-even in 3Q22 and be cash flow break-even or better in 4Q22.
- Price Action: CDXC shares are down 1.01% at $1.465 on the last check Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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