Adler Group SA is a company specialized and focused on the purchase, management and development of income producing multi-family residential real estate with a portfolio residential and commercial units. The portfolio of the company and its subsidiaries is situated in or on the outskirts of major urban areas in Northern, Eastern and Western Germany, such as Berlin.

Adler Group

Tesla Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) CEO Elon Musk on Monday reiterated plans to hold an AI Day in about a month aimed to provide a boost to its recruiting plans.&nbsp;
What Happened: The AI day this year will go over the progress with &ldquo;Tesla software &amp; hardware&rdquo; for training and inference with the purpose of recruiting, Musk tweeted.
<blockquote class="twitter-tweet">In general, anyone interested in working on physical-word AI problems, should consider joining Tesla. Fastest path to deploying your ideas irl.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1407040628530294791?ref_src=twsrc%5Etfw">June 21, 2021</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>The electric vehicle maker holds themed events&nbsp;from time to time that reveal details on its progress and plans for the future.&nbsp;
See Also: <a href="https://www.benzinga.com/news/21/06/21581470/elon-musk-says-new-hvac-firmware-coming-soon-in-tesla-evs-that-will-be-quieter" style="text-decoration:none">Elon Musk Says New HVAC Firmware Coming &#39;Soon&#39; In Tesla EVs And Will Be &#39;Quieter&#39;</a>
Why It Matters: Musk has been teasing the AI day on Twitter. In January, replying to a tweet seeking information about Tesla&#39;s <a href="https://www.benzinga.com/tech/20/08/17123002/elon-musk-looks-for-ai-experts-as-tesla-develops-dojo-supercomputer" style="text-decoration:none">Dojo supercomputer</a>, a computer expected to help train Tesla&#39;s self-driving software, Musk had hinted plans to reveal more later in the year.
In April, he gave a more firm timeline of &ldquo;July&rdquo; for AI Day. Artificial Intelligence is key to Musk&rsquo;s full self-driving goals and the company has been vocal about <a href="https://www.tesla.com/autopilotAI" style="text-decoration:none">hiring</a> in the area of hardware, neural networks, autonomy algorithms, coding and evaluation.&nbsp;
The Palo Alto, California-based company had a total of 70,757 employees as of 2020-end.
Price Action: Tesla shares closed 0.40% lower at $620/83 on Monday.
Click&nbsp;<a href="https://www.benzinga.com/electric-vehicles" rel="noopener noreferrer" target="_blank">here&nbsp;</a>to check out Benzinga&#39;s EV Hub for the latest electric vehicles news.

News

Events

Tech

TSLA

Elon Musk Says Tesla AI Day Planned For July; Recruiting On Agenda

e-commerce platform company ContextLogic Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wish#NASDAQ">WISH</a>), better known as Wish,&nbsp;is seeing the highest interest on Reddit&rsquo;s r/WallStreetBets forum as the stock surged on Monday.
What Happened: Wish has emerged as the most-discussed stock on the forum with 1,710 mentions, during the last 24 hours at press time, data from Quiver Quantitative showed.
Exchange-traded fund SPDR S&amp;P 500 ETF Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>) was a distant second with 724 mentions, followed by renewable natural gas company Clean Energy Fuels Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clne#NASDAQ">CLNE</a>) with 601 mentions.
The other stocks that are trending on the forum include movie theatre chain AMC Entertainment Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>), Canada-based tech giant BlackBerry Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bb#NYSE">BB</a>), videogame retailer GameStop Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gme#NYSE">GME</a>), oil and gas producer Torchlight Energy Resources Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trch#NASDAQ">TRCH</a>) and medical insurance technology company Clover Health Investments Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clov#NASDAQ">CLOV</a>).
Meanwhile, steelmaker Cleveland-Cliffs Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clf#NYSE">CLF</a>) and software company Palantir Technologies Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pltr#NYSE">PLTR</a>) saw a drop in mentions and do not feature among the ten most-discussed stocks.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/21/06/21648047/why-contextlogic-stock-is-trading-higher-today">Why ContextLogic Stock Is Trading Higher Today</a>
Why It Matters: Wish continues to be a favorite with retail investors as they discuss price targets, while SPDR S&amp;P 500 shares experienced <a href="https://www.benzinga.com/markets/options/21/06/21647687/unusual-options-activity-insight-spdr-s-p-500">unusual options activity</a> on Monday.
Torchlight Energy&rsquo;s shares surged on Monday after it <a href="https://www.benzinga.com/news/small-cap/21/06/21641662/why-torchlight-stock-is-blazing-higher-today">announced</a> an agreement to extend the date to close its business combination with Metamaterial Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mmatf#OTC">MMATF</a>) to June 30.
Price Action: Wish shares closed 18.4% higher in Monday&rsquo;s regular trading session at $13.50 and further rose almost 2.9% in the after-hours session to $13.89.
SPDR S&amp;P 500 shares closed 1.4% higher in the regular trading session at $420.86 and edged up less than 0.1% in the after-hours session to $421.21.
Clean Energy Fuels shares closed almost 4.6% lower in the regular trading session at $11.24.
Read Next: <a href="https://www.benzinga.com/markets/options/21/06/21648184/the-spy-flies-higher-options-traders-look-the-other-way">The SPY Flies Higher, Options Traders Look The Other Way</a>

Small Cap

Trading Ideas

CLNE

CLOV

MMATF

PLTR

TRCH

WISH

Wish Sees Extremely-High WallStreetBets Interest As Stock Surges; Clean Energy Fuels, AMC, BlackBerry Other Top Trends

Markets

What A Welcome US Equity Market Pullback! Fading Emotion.

Life is rarely predictable, and things are always changing around us. Whether you&rsquo;ve moved several times in your life or have always stayed in the same place, there&rsquo;s no telling what the next chapter contains. In the near future, many Americans will wrap up their lives in one state and move to another. This might be due to a transfer, a family issue, or any other reason why moving is the best option.
Most Americans are on the move in the search for a better life. In fact, there&rsquo;s a lot of data on what states people are leaving behind and which states they&rsquo;re moving to. Work seems to be the topmost reason for this move, though the quality of life and opportunities in certain states are also major factors. With recent events instilling the importance of family in our mindsets, it&rsquo;s no surprise that more Americans are also relocating to be closer to their loved ones.&nbsp;&nbsp;
Are you curious about which states people are leaving and which states they&rsquo;re moving to? Perhaps, you&rsquo;re confused about your own next move? Let&rsquo;s check out some of the top examples to clear things up.&nbsp;
10 States That People Are Leaving
Here are 10 states that people are looking to move out of:&nbsp;
1. New Jersey
We might have heard a lot of great aspects of New Jersey: the people are friendly, it&rsquo;s known as the Garden State, and the location is a convenient one. However, it&rsquo;s now also one of the states with the highest taxes, so outbound moves were recently estimated at a whopping 69.5 percent. In fact, New Jersey has been the topmost state for outbound moves for at least three years running.&nbsp;
The most common reason for such moves in 2020 was retirement. Next on the list was to be closer to relatives. Taxes are also a major reason, though the price of everything seems to have gone up. This includes decent education, groceries, tolls, etc.&nbsp;
2. New York
A tiny studio apartment in the heart of New York might be a glamorous aim, but the rent you pay for it is abysmal. The cost of living in New York is the fifth highest in the country, and the prices just seem to be increasing steadily with time. With all these factors, it&rsquo;s no surprise that outbound moves from these states are around 66.9 percent.
3. Illinois
The downtown skyline in Chicago, Illinois may be one of the most iconic sights in the state. Unfortunately, this doesn&rsquo;t make up for the economic trouble of many residents there. The outbound moves from Illinois are around 66.4 percent, a percentage which is slowly going up.&nbsp;
Illinois voters may have rejected the ballot to increase the income tax rate, but there are so many other issues to consider. Education costs are driving up overall taxes, so those who want something more reasonable are looking to move out from Illinois.&nbsp;
4. Connecticut
If you are or ever have been a resident of Connecticut, you&rsquo;d know that the cost of living is sky-high these days. When an average worker gets their paycheck, a huge chunk of it is lost to daily expenses. With savings becoming so difficult to maintain, 63.5 percent of moves in Connecticut are headed out of the state.&nbsp;
Data also shows that the utilities, housing, and even retirement is a huge expense here. The seaside might be a nice touch, but most people are looking elsewhere for proper jobs and a secure retirement plan.&nbsp;
5. California
All that sunshine, glitz, and glamor might make California seem like a great place to live. With outbound moves at 58.7 percent now, though, this state is among the top ten that people leave behind. Gorgeous sunsets, balmy breezes, and all those palm trees can&rsquo;t make up for the fact that the appeal has worn off.&nbsp;
While you do have the promise of exciting job opportunities in Silicon Valley and Hollywood in California, you&rsquo;re also in the third most costly area in the whole United States. Many residents on their way out agree that the high mortgage prices, rent rates, and gas prices are just too much to handle. Years-long droughts, power outages, high taxes, fire risks, and low insurance coverage are just other factors that are driving people out.&nbsp;
6. Kansas
There are several reasons why the outbound moves are at 58.6 percent for Kansas state. In a nutshell, it seems like people aren&rsquo;t able to reach their full earning potential in this area.&nbsp;
Around half of these outbound moves were aimed at looking for work elsewhere. The rest moved for the sake of returning, being closer to family, and perhaps, a faster-paced life. While the cost of living is quite low in Kansas (fourth-lowest in the country), the local culture lacks oomph and excitement.&nbsp;
7. North Dakota
North Dakota is known for its open spaces and parks, but they&rsquo;re probably getting emptier now. With the outbound moves estimated at around 56.7 percent, it seems like folks are getting a bit bored in this state. More than half of the moves were due to better job opportunities. While it might not be hard to get a job in North Dakota, these might not be the jobs that young people are looking for. This is one of the reasons they&rsquo;re trying out other jobs that match their skills and interests.&nbsp;
8. Massachusetts
This state has a lot of history; we have the Mayflower, Harvard, and so much more. Unfortunately, the affordability is simply not there. The outbound moves here are about 56.6 percent, mostly due to the premium you have to pay just to survive.&nbsp;
Most of the expenses stem from the lack of housing here. Construction is expensive, and certain rules make it so that luxury housing is more common than affordable options.&nbsp;
9. Ohio
There might be songs about what a cozy place Ohio is to live, but they&rsquo;re probably quite dated now. Outbound moves are at 56.1 percent here due to multiple reasons.&nbsp;
For one, the unemployment rate is too high for comfort. Wages are a bit below the national average, while the unpredictable weather has made it difficult to plan for the future. There&rsquo;s very little pleasant weather to enjoy, with extreme temperatures, either way, driving up the energy bills.&nbsp;
10. Maryland
Outbound moves in Maryland are about 55 percent, with the main culprit being expensive housing. Retiring so near the sea might seem attractive, but the more practical decision is to move elsewhere for your golden years. Around half the folks leaving Maryland are above 55. The cost of daily living is simply too high for those on a limited income.&nbsp;
10 States People Are Moving to
If you&rsquo;re wondering why people are snapping up homes, or even&nbsp;<a href="https://cedarspringsme.com/homes-for-sale/">mobile homes for sale</a>, they&rsquo;re probably on the move to the following states:&nbsp;
1. Idaho
Also sometimes called the Gem State, Idaho seems to be the place for families to settle and raise their kids. Inbound moves are currently at around 70.1 percent, which is the highest one in the country for 2020 at least.&nbsp;
The reasons behind these moves are fairly straightforward. This state has a flourishing job market, coupled with a relatively low cost of daily living. It&rsquo;s a practically tempting location for those who want to have a career in IT but don&rsquo;t want to deal with the high costs of major tech hubs like Silicon Valley in California.&nbsp;
Overall, Idaho is also a place where you can know your kids&rsquo; teachers as well as the bus drivers. The friendly environment, quality education, and a feeling of community is what attract family folks the most.&nbsp;
2. South Carolina
Again, the low cost of living is one of the biggest draws to this state. Inbound moves are at 64 percent for now. The nice weather is also a great attraction as is the peaceful lifestyle and interesting landscape.&nbsp;
Since this place is a bit more laid-back, it&rsquo;s more of a destination for retirees. Plus, the low prices also mean that one&rsquo;s income gets stronger even if it doesn&#39;t get higher.&nbsp;
3. Oregon
There are now many tech spots to rival California, and Oregon is one of them. Additionally, it has a lovely natural landscape to offer, with trees, rivers, and vegetation. There&rsquo;s no lack of jobs in the tech industry here, causing inbound moves to be at 62.5 percent. Hillsboro, Portland, and their general area are known as the Silicon Forest to some, which tells you a lot about the job opportunities.&nbsp;
4. South Dakota
North Dakota might be out, but South Dakota is definitely in this time. With inbound moves at 62.3 percent, the Mount Rushmore state might see a surge in its tiny population quite soon.&nbsp;
People who crave more of the outdoors are flocking to the area. There&rsquo;s hardly any smog, and you can catch the distinctive smell of fields on an everyday basis. Red sunsets, gorgeous sunrises, clear night skies, and other sights make this a haven for many folks. However, do make sure you have a proper job before settling down in this state.&nbsp;
5. Arizona
Retirees are moving to this state at a rapid pace, making the inbound moves rise to 61.6 percent. The area gets sun the whole year round, and the cost of living is fairly low. Plus, you&rsquo;re close enough to the Grand Canyon to take the grandkids on a fun trip!
In fact, some say that Arizona can be great for any kind of lifestyle. There are artist-friendly communities, ranches, and urban areas for those who like them.
6. North Carolina
North Carolina has inbound moves at 60.2 percent, with the main reason being the delightful low real estate prices. Overall, most people can get a great home on a largish plot at just a fraction of the usual cost for metro areas. The scenery is also nothing to sneeze at, though you will have to prepare for hurricane season.
7. Tennessee
If you&rsquo;re a fan of nature and don&rsquo;t like paying income tax, this state is the one to go for. The inbound moves at 60 percent here, mostly due to the low taxes. Property taxes are already low, while there&rsquo;s simply no income tax at all. Be warned, however; sales taxes are still&nbsp; very much a thing here. Plus, cities such as Memphis do have a crime problem.&nbsp;
8. Alabama
When you&rsquo;re a doctor or lawyer, Alabama is among the best choices in the United States. Inbound moves are 59.7 percent, so other people are also getting the same idea. The cost of living is fairly low, and you&rsquo;d have a lot of automatic respect due to your profession.&nbsp;
9. Florida
For those who love summer vacation, moving to Florida should be in the books. The inbound moves are an estimated 59.6 percent, which means that you could be enjoying your retirement there right now. Warm weather, beaches, palm trees, and other temptations await!
If you mean to keep working, however, tie-down a job before moving to this state. The tourism industry was the backbone of the economy here, but the coronavirus pandemic turned that sector on its head. There are a lot of unemployment claims around, so make sure you&rsquo;re covered.&nbsp;
10. Wyoming
With inbound moves at 58 percent, Wyoming promises several national parks, scenic landscapes, and a low population density. Overall, it&rsquo;s a haven for nature lovers as well as entrepreneurs. Registering a business is easy and cheap, with no individual income tax to hamper your style.&nbsp;
The Takeaway
Leaving your home state and settling down elsewhere is a big decision. However, the attractions in certain states and the problems in others are not easy to ignore. If you&rsquo;re considering a move at some point, make sure you&rsquo;re doing it for the right reasons. A bit of research will tell you a lot about what each state has to offer. With the right information in hand, you&rsquo;d hopefully be able to achieve that ideal lifestyle very soon!

Top 10 States People Are Moving To And Leaving From

We often say the bond market tends to lead us into good or bad situations. After all, bond traders are so paranoid about losing money or buying power they could have predicted seven of the last two recessions (sarcasm). Yet, following the tracks of bond players tends to be a winning formula, it&#39;s the timing that is often a bit out of sync with the markets.
<div>
<div>Flash to the Fed meeting last week, the statement and press conference that followed basically told us what they have been saying months about inflation being transitory, but with one slight change. The committee started talking about recent inflation trends and perhaps setting a stop on accommodative policy.&nbsp;We expected that discussion sooner or later, but we could have looked to the bond market for better clarity than even the Fed provided.</div>
<div>&nbsp;</div>
<div>You see, if inflation were a real problem the bond vigilantes would be out in droves selling bonds like there was no tomorrow.&nbsp;But that has not been happening, rather the opposite. Bond BUYING has been sharp and vigorous over the last month, with yields falling again.&nbsp;What happened to all the talk of the 10-year&nbsp;bond reaching 2% or more? The Fed has been seeking 2% or higher inflation for an extended period, perhaps twelve months or more.</div>
<div>&nbsp;</div>
<div>That seems to be asking a lot, but certainly we see that strong trends in price action reflected in CPI and PPI data. If that is that case, then what gives? Shouldn&#39;t we see a drop in bond prices rather than a pickup? That&#39;s the rub here, and the bond market seems to believe the Fed in that inflation trends are not blowing in the wind currently. &nbsp;</div>
<div>&nbsp;</div>
<div>The yield curve is flattening more and more with the spread of 2/10 bond yields at its lowest level since February and still falling.&nbsp;Simply put the bond market is reflecting little inflation in the economy and growth prospects are dimming for 2022 and beyond.&nbsp;Certainly not what the Fed has been looking for, so market conditions may stay the same for the foreseeable future.</div>
</div>

The Fed Is More Hawkish - Now What?

According to <a href="https://www.ft.com/content/4f8044bf-8f0f-46b4-9fb7-6d0eba723017">Intertrust&rsquo;s latest survey</a>, 98% of CFOs say their hedge funds would look to invest up to 7.2% of their assets in <a href="https://www.valuewalk.com/2020/01/gold-versus-bitcoin/">cryptocurrencies</a> by 2026, and such percentage would account for around $312 billion if replicated across the business. However, faced with regulatory obscurity and reputational risk, how can hedge funds wring the juice out of the crypto world?
Hedge Funds Expect to Invest More in Cryptocurrency
It is no secret that hedge fund managers are overflowing with intent, especially in the U.S., where 17% of surveyed CFOs openly stated that they expect to have up to 10.6% of their assets in cryptocurrencies in the next five years &ndash;namely Bitcoin with 10%.
Last May, the talk on Wall Street was that JPMorgan Chase &amp; Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) would launch an actively managed investment fund based on Bitcoins this summer, with a strong interest in offering its clients secure access to Bitcoin investments, hence backing up Intertrust&rsquo;s survey findings.
The wave is getting bigger, as payment methods such as Visa, Mastercard, and PayPal accept cryptocurrencies. Also financial entities such as Morgan Stanley (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ms#NYSE">MS</a>), BlackRock (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blk#NYSE">BLK</a>), or Fidelity already market investment funds and ETFs on crypto assets.
Putting the Toe in Dark Water
What is more interesting, is that some traditional fund managers even went to capitalize on the Bitcoin&nbsp;(CRYPTO:BTC)&nbsp;price boom last year. Billionaire investor Paul Tudor Jones II, of Tudor Investment Corporation, revealed that he owns a small percentage of Bitcoin, while pioneer Stan Druckenmiller followed suit by stating that he invested in the benchmark cryptocurrency to dampen the risk of U.S. inflation &ndash;which hit an all-time record in May.
&ldquo;I like Bitcoin as a portfolio diversifier. Everybody asks me what should I do with my Bitcoin? The only thing I know for certain, I want 5% in gold, 5% in Bitcoin, 5% in cash, 5% in commodities. At this point in time, I don&rsquo;t know what I want to do with the other 80% until I see what the Fed is going to do,&rdquo; Jones told <a href="https://www.cnbc.com/2021/06/14/tudor-jones-likes-bitcoin-calls-it-a-great-portfolio-diversifier-to-protect-his-wealth-over-time.html">CNBC</a>.
However, some in the EU remain coy. Jaime Mart&iacute;nez, Asset Allocation Global Director at Spanish giant BBVA (CRYPTO:BBVA)&nbsp;AM, told <a href="https://www.eleconomista.es/mercados-cotizaciones/noticias/11233590/05/21/Las-grandes-gestoras-espanolas-rechazan-invertir-en-criptomonedas.html">El Economista</a>: &ldquo;In 10 years it will be much more normal (&hellip;) Today, we are not going to complicate our clients with things that we do not control well. Another thing is that in Switzerland access is given to whoever wants to do it, it is different. We are not planning to make movements in that sense at the moment.&rdquo;
Still, James Delaney, director of government affairs at the Association Investment Management Association, told <a href="https://www.hedgeweek.com/2021/06/15/301891/arbitrage-strategies-boost-crypto-hedge-funds-regulatory-headaches-remain">Barclays</a> that around 90% of hedge funds investing in digital assets aim to roll out more capital into the asset class by the end of 2021, while nearly 25% of hedge fund managers still yet to invest are at least in the late-stage planning to invest or looking to invest.
Hazy Regulation to Straddle
Delaney goes on to assert that removing or easing the barriers spawned from regulatory uncertainty would help encourage wary market participants to engage more decidedly with the crypto sector. Similarly, Anthony Tu-Sekine, head of blockchain and cryptocurrency group at Seward &amp; Kissel, opines that the regulatory landscape in the US at the moment is &ldquo;something of a mixed bag.&rdquo;
&ldquo;In the crypto mainstream, if you have investments in Bitcoin and Ether&nbsp;(CRYPTO:USDT), I don&rsquo;t think there&rsquo;s a huge danger that regulators will change the mind on their existing guidance with respect to those assets,&rdquo; he says.
The problem lies, however, in the more obscure crypto assets, as Tu-Sekine believes there is &ldquo;significant regulatory risk as market authorities continue to play catch-up on the fringe elements.&rdquo; He adds that the regulatory response by the Biden administration remains &ldquo;somewhat in flux.&rdquo;
According to Steven D&#39;Mello, partner at Albourne Partners, who took part in Barclays&#39; recent DigitalAssetsLIVE event, &ldquo;Managers should be proactively sweeping assets off-exchange, to protect against some of that regulatory risk that exchanges face.&rdquo;
&ldquo;Managers that have to self-custody assets where perhaps there&rsquo;s no custody solution available should be aware of the SEC custody rule in the requirements, and what it means to potentially not meet them,&rdquo; he concludes.

Hedge Funds: Putting The Toe In Dark Cryptocurrency Waters

<img alt="Fintech Header" src="https://cdn2.hubspot.net/hub/2786381/hubfs/Fintech%20Header.png?upscale=true&amp;width=800&amp;upscale=true&amp;name=Fintech%20Header.png" />
Quote To Start The Day: &quot;When we strive to become better than we are, everything around us becomes better too.&rdquo;
Source: <a href="https://www.wow4u.com/quotationsauthor/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">Paulo Coelho</a>
One Big Thing In Fintech: Uphold, a fintech providing investors single-wallet access to cryptocurrencies, fractional U.S. equities, commodities, carbon credits and FX, last week formally announced the launch of smart limit orders.
As part of the development, Benzinga chatted with CEO JP Thieriot.
Source: <a href="https://www.benzinga.com/markets/cryptocurrency/21/06/21620286/fintech-spotlight-meet-uphold-a-more-versatile-home-for-your-finances?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">Benzinga</a>
<img src="https://cdn2.hubspot.net/hub/2786381/hubfs/giphy-Jun-21-2021-11-29-46-48-PM.gif?upscale=true&amp;width=800&amp;upscale=true&amp;name=giphy-Jun-21-2021-11-29-46-48-PM.gif" />
Other Key Fintech Developments:
<ul>
<li>Kredivo <a href="https://www.prnewswire.com/news-releases/kredivo-closes-an-additional-us100m-warehouse-financing-facility-with-victory-park-capital-expanding-the-total-facility-to-us200m-301315073.html?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">secures</a> $100M in financing.</li>
<li>Tiger Global wills to <a href="https://techcrunch.com/2021/06/18/tiger-global-in-talks-to-back-bharatpe-at-2-5-billion-valuation/?tpcc=nltermsheet&amp;utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">back</a> BharatPe.</li>
<li>Mexico is a <a href="https://www.entrepreneur.com/article/375254?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">hub</a> of fintech startups.</li>
<li>Fintech Blend <a href="https://www.marketwatch.com/story/fintech-company-blend-labs-files-for-ipo-2021-06-21?siteid=rss&amp;utm_campaign=Feed%3A%20marketwatch%2Fmarketpulse%20%28MarketWatch.com%20-%20MarketPulse%29&amp;utm_medium=feed&amp;utm_source=feedburner&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">filed</a> for a public offer.</li>
<li>BBVA looking to <a href="https://www.thetradenews.com/bbva-looks-to-grow-quantitative-business-with-alpima-platform/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">grow</a> with ALPIMA.</li>
<li>Nascar driver getting <a href="https://fortune.com/2021/06/21/nascar-landon-cassill-paid-in-crypto-bitcoin-litecoin-voyager/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">paid</a> in crypto.</li>
<li>PBOC <a href="https://www.theblockcrypto.com/post/109098/pboc-orders-chinese-banks-to-cut-off-accounts-for-crypto-otc-merchants-reiterating-2017-banking-ban?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">cracks</a> down on crypto trade.</li>
<li>Tesseract <a href="https://www.theblockcrypto.com/post/108779/finnish-crypto-lender-tesseract-25-million-investment?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">added</a> a $25M Series A.</li>
<li>EU&rsquo;s data protection <a href="https://www.theblockcrypto.com/linked/109180/eu-data-protection-body-says-digital-euro-designs-must-prioritize-privacy?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">targets</a> privacy.</li>
<li><a href="https://thehustle.co/%F0%9F%92%B2-is-shopify-a-fintech-company/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">Analysis</a>: Could Shopify be a fintech?</li>
<li>Blocktrace is <a href="https://www.theblockcrypto.com/post/108869/blockchain-analytics-firm-creates-api-that-pools-data-from-elliptic-ciphertrace?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">launching</a> Fusion API.</li>
<li>Morgan Stanley <a href="https://www.theblockcrypto.com/post/109113/morgan-stanley-invests-blockchain-securitize?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">co-leading</a> a round.</li>
<li>Goldman <a href="https://www.marketsmedia.com/goldman-sachs-launches-transaction-banking-in-uk/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">intros</a> transaction banking.</li>
<li>BBVA taps Alpima to <a href="https://www.finextra.com/pressarticle/88179/bbva-selects-alpima-to-scale-up-quants-business?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">scale</a> quants.</li>
<li>Aveni <a href="https://www.finextra.com/pressarticle/88175/edinburgh-fintech-seals-seven-figure-investment-to-launch-ai-tool-for-vulnerable-customers?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">secures</a> an AI tech investment.</li>
<li>Fintech startup Volt <a href="https://pitchbook.com/newsletter/fintech-startup-volt-collects-235m?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">collects</a> $23.5M.</li>
<li>Morgan Stanley <a href="https://www.bloomberg.com/news/articles/2021-06-21/morgan-stanley-backs-blockchain-with-investment-in-securitize?sref=TBDibEcD&amp;utm_content=article-5838&amp;utm_campaign=article_email&amp;utm_source=sg&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">backing</a> Securitize.</li>
<li>Amber Group has <a href="https://markets.businessinsider.com/currencies/news/amber-group-bitcoin-crypto-startup-investment-tiger-global-coinbase-2021-6-1030538186?utm_content=article-5838&amp;utm_campaign=article_email&amp;utm_source=sg&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">hit</a> $1B valuation.</li>
<li>Digital asset trade venues are <a href="https://www.marketsmedia.com/digital-asset-trading-venues-on-the-rise/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">rising</a>.</li>
<li>AI tech to <a href="https://www.marketsmedia.com/ai-to-cut-settlement-failures-in-securities-services/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">cut</a> into settlement failure.</li>
<li>Fintech startup Mfast <a href="https://e.vnexpress.net/news/business/companies/fintech-startup-mfast-raises-1-5-mln-4297406.html?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">raises</a> $1.5M.</li>
<li>Insurance companies <a href="https://gomedici.com/fintech-investments-by-top-insurance-companies?__s=qrhns7ismi8vpdeora7d&amp;utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">target</a> fintech.</li>
<li>Expensify <a href="https://www.businesswire.com/news/home/20210621005119/en/Expensify.org-Pays-People-to-Get-Vaccinated-as-an-Extension-of-Their-Grocery-Reimbursement-Program?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">paying</a> you to get vaccine.</li>
<li>MoneyLion <a href="https://www.prnewswire.com/news-releases/moneylion-adds-accomplished-media-and-tech-executives--matt-derella-lisa-gersh-michael-paull--to-its-board-of-directors-301316060.html?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">adds</a> to team executives.</li>
<li>Revolut <a href="https://finledger.com/2021/06/21/fintech-app-revolut-doubles-losses-but-increases-revenue-57/?utm_campaign=Newsletter%20-%20Daily&amp;utm_medium=email&amp;_hsmi=135265719&amp;utm_content=135265719&amp;utm_source=hs_email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">doubles</a> loss, adds revenue.</li>
<li>Bitcoin IRA <a href="https://apnews.com/press-release/pr-newswire/bitcoin-business-technology-19aad2dd5f3c4d9663e06c4cb1eae0d9?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">releases</a> first crypto IRA.</li>
<li>DataRails <a href="https://www.prnewswire.com/news-releases/datarails-extends-series-a-funding-round-with-additional-25m-for-a-total-of-43-5m-301316378.html?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">extended</a> Series A round.</li>
</ul>
Watch Out For This: Overall, the most common reason why someone would buy directly from a company was that it was simply the cheaper option; customers don&rsquo;t need to make up for the additional transportation and handling costs that are tacked on to items being sold in large retail outlets.
Source: <a href="https://couponfollow.com/research/direct-to-consumer-everything?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">Coupon Follow</a>
<img src="https://cdn2.hubspot.net/hub/2786381/hubfs/giphy%20(1)-Jun-21-2021-11-29-45-45-PM.gif?upscale=true&amp;width=800&amp;upscale=true&amp;name=giphy%20(1)-Jun-21-2021-11-29-45-45-PM.gif" />
Interesting Reads:
<ul>
<li>Jeep Grand Wagoneer <a href="https://jalopnik.com/the-2022-jeep-grand-wagoneers-fuel-economy-is-predictab-1847141861?utm_source=jalopnik_newsletter&amp;utm_medium=email&amp;utm_campaign=2021-06-21&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">gets</a> 15 mpg.</li>
<li>Investors <a href="https://www.axios.com/investors-2021-fear-labor-growth-inflation-e1124941-eff3-4b95-a200-98cd9fa320a3.html?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">fear</a> inflation, labor supply.</li>
<li>Airlines, unions to intro <a href="https://www.axios.com/unruly-passengers-airlines-doj-d431bdc9-7a07-45ba-932c-a31e74b7108d.html?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">prosecution</a>.</li>
<li>California is <a href="https://www.axios.com/california-unpaid-rent-eviction-covid-738781aa-9e61-4dd5-b9fa-be773f29a5f1.html?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">paying</a> off accrued rents.</li>
<li>US <a href="https://www.reuters.com/world/us/us-extends-travel-restrictions-canada-mexico-land-borders-through-july-21-2021-06-20/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">extends</a> border travel restrictions.</li>
<li>China&rsquo;s progress over trade <a href="https://www.bloomberg.com/news/articles/2021-06-21/china-s-progress-on-u-s-trade-deal-slows-again-in-may?sref=TBDibEcD&amp;utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">slowing</a>.</li>
<li>148-year-old tunnel a big <a href="https://www.washingtonpost.com/transportation/2021/06/18/amtrak-maryland-baltimore-rail-tunnel/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">bottleneck</a>.</li>
</ul>
Market Moving Headline: We remain constructive on U.S. stocks as the economic restart gains pace. Yet as the cycle evolves, investors will increasingly divert their attention toward the potential party spoilers. A chief concern is inflation, and whether the rising prices seen in some pockets of the economy are transitory or the first signs of an enduring new regime. We expect fears of inflation will be enough to stoke volatility in stocks, even amid Fed assurances of continued accommodation. Similarly, tax policy may become a volatility trigger as lawmakers debate the proposals.
Economically sensitive cyclical stocks have had a very strong run year-to-date. We don&rsquo;t think their full potential is exhausted, but we do see an opportunity to also turn attention to quality stocks as the cycle&rsquo;s next beneficiaries.
Source: <a href="https://www.blackrock.com/us/individual/insights/taking-stock-quarterly-outlook?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz--4dDxHWhxZU7p2xRI26LdgE7ywF41NIt5eY_4C7Kd1fOy0DXyqVR1KxO_YjtZDuStb72AQ">BlackRock</a>
<img src="https://cdn2.hubspot.net/hub/2786381/hubfs/giphy%20(2)-Jun-21-2021-11-29-26-44-PM.gif?upscale=true&amp;width=800&amp;upscale=true&amp;name=giphy%20(2)-Jun-21-2021-11-29-26-44-PM.gif" />

Fintech news covering the emerging Financial Technology services sector

Fintech

Fintech Focus For June 22, 2021

You don&rsquo;t need a substantial amount of capital to invest in high-quality real estate assets that provide passive income.
REITs offer a means for virtually anyone to become a real estate investor, and these three make it even easier with a price tag of less than $10 per share, and dividend yields above 5%.&nbsp;
<h2>Bluerock Residential Growth REIT (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brg#NYSE">BRG</a>)</h2>
Bluerock is a <a href="https://www.benzinga.com/money/residential-reits/">residential REIT</a> that invests in multifamily properties in markets with some of the highest population and job growth in the country. The stock price also offers one of the best values among apartment REITs with a P/FFO multiple of around 14x.
Bluerock is also one of the highest dividend residential REITs with a 6.88% yield.
Want to learn more about investing in REITs? See <a href="https://www.benzinga.com/money/how-to-invest-reits/">How to Invest in REITs</a>
<h2>Annaly Capital Management (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nly#NYSE">NLY</a>)</h2>
Annaly is the largest <a href="https://www.benzinga.com/money/mortgage-reits/">mortgage REIT</a> in terms of market cap and is sitting on over $85 billion in assets. The company primarily invests in agency mortgage-backed securities (MBS), meaning the majority of their portfolio is guaranteed by the Federal Government.
If you have the appetite for the risks that come with mortgage REITs, Annaly is worth taking a look at with its 9.7% dividend yield.&nbsp;
<h2>Whitestone REIT (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wsr#NYSE">WSR</a>)</h2>
Whitestone is a <a href="https://www.benzinga.com/money/retail-reits/">retail REIT</a> that invests in community-centered shopping centers. The REIT has a diverse tenant base of businesses providing daily necessities and needed services, making it more protected against e-commerce than many other retail REITs. The company targets opportunistic acquisitions with significant upside in U.S. markets that are experiencing the highest population growth.
The company also pays a monthly dividend and has a yield of 5.32%.

REIT

Dividends

Real Estate

3 High Dividend REIT Stocks Under $10

One of the most dynamic MLB players this season has been Shohei Ohtani.
Playing as both a pitcher and hitter, Ohtani is accomplishing feats not seen for decades in the league. The Angels star recently homered in three straight games, which could have rewarded sports bettors quite well.
Ohtani Stats: In the 2021 season, Ohtani is batting .272 with 54 RBIs and 23 home runs. Ohtani ranks second in the AL in slugging percentage, total bases and also ranks third in RBIs.
Ohtani also has a 3-1 record in 10 games as the starting pitcher with an ERA of 2.70 and WHIP of 1.16 along with 73 strikeouts in 53 innings pitched.
With his 23 home runs, Ohtani is tied for first in the AL and also leads the league with a 10.4 at-bats per home run ratio.
In a recent series with the Detroit Tigers, Ohtani dominated hitting four home runs in three games. This included hitting home runs in three straight games on June 18, June 19 and June 20.
Related Link: <a href="https://www.benzinga.com/general/sports/21/06/21412160/double-your-money-if-shohei-ohtani-wins-the-american-league-mvp?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+benzinga+%28Benzinga+News+Feed%29">Double Your Money If Shohei Ohtani Wins The American League MVP&nbsp;</a>
Betting $100 on Home Runs: A popular bet on Ohtani with his home run lead is betting on him to hit a home run in games.
Wagering $100 on Ohtani to hit a home run on June 18, paid out a profit of $300 at +300 odds. Betting $100 paid a profit of $225 on June 19. Betting $100 on a home run from Ohtani paid a profit of $350 on June 20.
Those three $100 bets paid out a profit of $875.
Bettors could also have let their profits ride and roll it into a continued bet on Ohtani to hit more home runs.
After getting a profit of $300 from the $100 bet on June 18, bettors could have placed all $400 on Ohtani to hit a home run on June 19. That bet would have paid out a profit of $900 and $1,000 total. Taking that $1,000 into the June 20 bet of Ohtani hitting a home run paid out a profit of $3,500 good for $3,600 total.
A $100 bet on Ohtani to hit a home run in three straight games with the winnings put into the next matchup turned the $100 into $3,600.
Photo credit:&nbsp;<a href="https://flickr.com/photos/13813081@N06/41944510991">hj_west, Flickr</a>

Sports

General

If You Bet $100 On Shohei Ohtani To Hit A HR In 3 Straight Games, Here's What Your Payout Would've Been

Shares of Globalstar (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gsat#NYSE">GSAT</a>) traded up more than 17% on Monday after B. Riley&nbsp;initiated coverage&nbsp;with a Buy rating&nbsp;with a price target of $3.25.
Globalstar operates a low-Earth orbit satellite constellation network. The satellites are used for phone communications and low-speed data communications.
If shares do hit B. Riley&#39;s price target, investors who get in today will be able to collect more than 100% gain. The 52-week high for the stock is $2.98 a share, with a 52-week low of $0.29 a share.
&quot;Globalstar and its sponsors, after years of development, support, and patience, are at long last starting to realize a return on satellite system and spectrum assets, making 2021 an excellent time, in our opinion, to buy GSAT,&quot; according to Riley analyst Mike Crawford.
Globalstar&#39;s stock is up more than 300% throughout the last six months, as demand for mobile data has increased. The company has had impressive growth numbers, and the stock looks to be a good value.
Shares closed up 17% at $1.51.

Penny Stocks

Price Target

Initiation

Analyst Ratings

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GSAT

Why Globalstar's Stock Surged 17% Today

Victoria Vaughan (Arsenova)&nbsp;is a former CEO of Cointelegraph, who was in charge of growing the brand from a very small brand to a worldwide company.
How It All Started
Victoria had never heard about cryptocurrency before 2012. Not a lot of people did. She was working at a tech startup at the time, and part of her job included attending international conferences.
During one of the events, she was approached by a tech geek who tried to explain to her what this whole &ldquo;crypto thing&rdquo; is and why it&rsquo;s going to &ldquo;be the new money.&rdquo;
Victoria admits that she didn&rsquo;t really understand the concept at the time but was intrigued.
And in 2013, when Bitcoin was only $125,&nbsp;she accepted an offer to work at a startup that looked like a blog and had ambitious plans to become a crypto publication.
<img alt="" src="https://www.benzinga.com/files/images/2021/June/21/cointel.jpeg" style="height:215px; width:565px" />
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Image: Cointelegraph
&ldquo;It was just a couple of people, and we would publish two articles a week,&rdquo; Victoria says.
&ldquo;There was no clear understanding of how we&rsquo;re going to build a media company, but we were eager to build an international brand.&rdquo;
And she started with hiring people.
Growing The Team
&ldquo;The entire process of finding the right people was painful. You had to choose either someone who knows about crypto but might not have the right skill set for the job, or someone who has experience in their respective skills and taught them about the cryptocurrency world.&rdquo;
From that point, the publication started growing slowly but surely.
But it&rsquo;s not all about the growth from the editorial side, it is also about the strategy, the management, and the reputation.
&ldquo;We&nbsp;already had a couple of players in the game who were doing well, and we needed to figure out how we can be different, and of course, how to make money.&rdquo;
<img alt="" src="https://www.benzinga.com/files/images/2021/June/21/cointelegraph.jpeg" style="height:376px; width:565px" />
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Image: Cointelegraph
The idea behind famous Cointelegraph cartoon images was to make every reader feel comfortable with such a complicated industry &ndash; from institutional investors to traders and to someone who&rsquo;s just learning about the space.
&ldquo;We didn&rsquo;t want to be perceived as too dry or soulless, or complicated, so we came up with a creative solution.&ldquo;
Later on, the images became a part of brand recognition worldwide.
The Strategy That Worked
As for the numbers part, Victoria shared that, in her experience, building the right sales system and advertising offers, as well as operational strategy, is essential.
&ldquo;We would adjust our offerings to the market demand, but we also understood that we have to offer something that other publications didn&rsquo;t.&rdquo;
So Victoria came up with a plan.
&ldquo;In 2013-2014, the industry had a number of websites managed by enthusiasts, while we&rsquo;re good at building products, but not at monetizing. We partnered with such platforms as CoinMarketCap, Whattomine, Coingecko, and several others.&rdquo;
&ldquo;We bought out all the advertising places there possibly is&nbsp;and thus, have had the largest advertising share in the industry. One of our partnership requirements was placing news &ndash;&ndash;our traffic by more than 200%, and the revenue by more than 300%.&rdquo;
In 2017-2018, when BTC fluctuated as high as $19,000 skyrocketing from $900, the interest in being advertised outside the industry websites grew, and the Cointelegraph team expanded the sales plan accordingly.
&quot;We have made a number of partnerships with media platforms, such as Investing.com, VentureBeat, The Next Web, Bloomberg, and several others, and were able to offer sponsored content placement on a big number of publications. This strategy had a great success and drove our revenues significantly.&rdquo;
<img alt="" src="https://www.benzinga.com/files/images/2021/June/21/2021-06-21_16.32.36.jpg" style="height:210px; width:565px" />
Victoria speaking at an international conference, 2018. Image: Personal photo of Victoria
Volatility&nbsp;
The worst part of the volatile crypto market is not only losing money if you don&rsquo;t get out of your positions at the right time, it&rsquo;s also managing people and budgets.
&ldquo;Early on, we tried to balance between hiring a lot of people and spending huge amounts of money during peak, or bull, market, and suffering the consequences of losing money and firing people when &lsquo;crypto winters,&rsquo; a period when prices plummet and do not grow for a significant amount of time,&nbsp;would come,&rdquo; the former CEO remembers.
&ldquo;With time, we learned how to operate our business right: We would coordinate earnings and spendings to ensure we could survive when the peak interest passes. And we would hire people that the business really needed despite how much profit we would make.&rdquo;
Overall, Victoria says, the team has grown from just a couple of people to more than 100 employees worldwide.
Stagnant Success
&ldquo;We grew from what was about 0 views to 15 million unique visitors in a matter of three years. And from what was two articles per week, we started publishing over 20 materials a day.&rdquo;
But the growth beyond the cryptocurrency industry seemed stagnant.
In 2017, the crypto industry was certainly more recognized and known than in 2014, but major corporations and institutions remained skeptical to sets their foot in the game.&nbsp;
&ldquo;We analyzed the market and came to a decision that expanding the business and building presence in countries around the world might help break the stigma around the industry.&rdquo;
&ldquo;Starting&nbsp;with just a few countries, like Japan, Spain, and Italy, the team was trying&nbsp;this&nbsp;theory out.&rdquo;
While building an international presence, Cointelegraph&nbsp;decided&nbsp;to scale through local partners.
&ldquo;We launched a franchise program and were looking for partners with experience in running media businesses and wanted to enter the crypto space. From our side, we provided brand recognition, whereas the local partners would bring their resources. This strategy&nbsp;worked very well.&quot;
<img alt="" src="https://www.benzinga.com/files/images/2021/June/21/screen_shot_2021-06-21_at_6.13.57_pm.png" style="height:264px; width:565px" />
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Image: Cointelegraph China
&ldquo;It took us a couple of years to make it right, and we were finally able to report to our readers in nine more languages &ndash;&ndash; Arabic, German, Spanish, Italian, Japanese, Korean, Portuguese, and Turkish.&rdquo;
And, according to Victoria, this decision also reflected well on sales and profits.
The Price Of Working In Crypto
Working in the cryptocurrency industry is no easy job for everyone. But for a news outlet, it is something of a nightmare. You have to be on alert all the time. The markets don&rsquo;t sleep, and neither do you.
&ldquo;Endless hours &ndash;&ndash; it takes its toll on you,&rdquo; Victoria admits.
And for someone who runs a company and makes crucial decisions every day, it becomes critical to keep your mind in shape.
&ldquo;I enjoy horse riding in my very limited free time. It helps me feel closer to nature and free my mind,&rdquo; Victoria shared. &ldquo;And going to the spa, having a massage, is always a good idea.&rdquo;
Victoria shared that despite all the challenges she had been through, she is very to have been a part of Cointelegraph&#39;s journey.
&quot;Look back at how we started, I am tremendously proud of what we were able to achieve in several years.&nbsp;We&#39;ve had a fantastic team that helped the publication and achieved significant goals. I am grateful I had a chance to be a part of this fantastic team.&quot;
&nbsp;
*Victoria has joined the blockchain space in 2013 and was a CEO at Cointelegraph for over four&nbsp;years, bringing the company to top positions on the market.&nbsp;She has also contributed to the success of such well-known brands as Bitcoin.com Exchange, Scalable Solutions, and many others.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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$BTC

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From Doubts And Struggles To International Recognition: Building One The Biggest Crypto Publications In The World

One of the great debates in Major League Baseball is when a pitcher delivers an exceptional season, do they deserve to win the Most Valuable Player award in addition to the Cy Young Award? It is one of the rarer accomplishments in baseball and only the most historic seasons are even given consideration.
Jacob deGrom of the New York Mets&nbsp;is having one of those seasons right now.
Through 11 starts, his ERA is 0.54, an incomprehensible number for a starting pitcher. Since 1950, the lowest ERA posted by a qualified starting pitcher over the course of a season was 1.12 by Bob Gibson in 1968.
DeGrom is having an all-time great season, but is it enough to win the MVP award? He is currently the favorite at +185 according to Draftkings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dkng#NASDAQ">DKNG</a>), but it is rare for pitchers to win baseball&rsquo;s highest honor.
Since the Cy Young Award was introduced in 1956, only 11 pitchers have won the MVP award. For context, 130 MVP awards have been given out since then, meaning a pitcher has won less than 10% of the time.
Before the Cy Young Award, 14 pitchers won MVP, so it was still a rare accomplishment.
DeGrom&rsquo;s numbers are eye-popping. Since opening the season at +4000 to win the MVP, deGrom has taken the league by storm. He has driven in more runs &mdash; six &mdash; as a hitter than allowed on the mound, which is four.
His 14.9 strikeouts per nine innings are by far the most in the league. When he won the Cy Young Award in 2018 and 2019, he posted ERA&rsquo;s of 1.70 and 2.43.
He had the best ERA in the major leagues in 2018 and finished 5th in MVP voting.
In the past 20 years, only Clayton Kershaw and Justin Verlander have won the MVP as pitchers. Both had incredible seasons, but also played key roles on contending teams.
For a pitcher to win the award, they need to be on winning squads. Fortunately for deGrom, the Mets are in first place in the NL East and are on track to easily reach the playoffs.
He is also the heavy favorite to win the Cy Young award at -305. In the MVP race, Fernando Tatis Jr. of the San Diego Padres&nbsp;has the second-best odds at +250 while Ronald Acuna Jr.&nbsp;of the Atlanta Braves is the only other player better than +2500 at +450. Both players are having excellent seasons, but nothing near as historic as deGrom.
A stint on the injured list has prevented deGrom from reaching qualified status so far, meaning he is not atop many statistical leaderboards. He will soon reach the minimum number of innings pitched and will take command of the ERA category, among many others.
Should deGrom win the MVP award in the National League, he would become just the 25th pitcher to do so and the 12th in the Cy Young era.
Below are the other 11 winners and some key stats to compare to deGrom&rsquo;s:
Clayton Kershaw, 2014 
1.77 ERA, 21-3 record
Justin Verlander, 2011 
2.40 ERA, 24-5 record
Dennis Eckersley, 1992 
1.91 ERA, 51 saves
Roger Clemens, 1986 
2.48 ERA, 24-4 record
Willie Hernandez, 1984 
1.92 ERA, 32 saves, 80 games pitched
Rollie Fingers, 1981 
1.04 ERA, 32 saves
Vida Blue, 1971 
1.82 ERA, 24-8 record, 312 innings pitched
Denny McLain, 1968 
1.96 ERA, 31-6 record
Bob Gibson, 1968 
1.12 ERA, 22-9 record
Sandy Koufax, 1963 
1.88 ERA, 25-5 record
Don Newcombe, 1956 
3.06 ERA, 27-7 record, 18 complete games
Photo: <a href="https://www.flickr.com/photos/slgc/47150054212">slgckgc, Flickr</a>

DKNG

Will Jacob deGrom's Incredible Season Be Enough To Be Named NL MVP And Cy Young Award Winner?

The week of June 21 is setting up to be one of the busiest IPO weeks in some time with more than dozen companies that could go public with listings.
Here is a look at some of the biggest IPOs of the week with the details investors should know.
Unicycle Therapeutics: Biotech company Unicycle Therapeutics Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/uncy#NASDAQ">UNCY</a>) is <a href="https://www.sec.gov/Archives/edgar/data/1766140/000121390021031134/ea142218-s1a1_unicycive.htm">focused </a>on preventing chronic kidney diseases. The company has two drugs licensed from Spectrum Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sppi#NASDAQ">SPPI</a>). The company plans to sell 2.6 million shares at a price point of $8.50 to $10.50.
Full Truck Alliance: The world&rsquo;s largest digital freight platform Full Truck Alliance&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/1838413/000119312521190972/d260023df1a.htm">plans </a>to sell 82.5 million ADS at a price point of $17 to $19.
The company makes logistics better for powering China&rsquo;s transportation and infrastructure. The company operates in more than 300 cities in China, the world&rsquo;s largest road transportation market at $951.5 billion in 2020.
Full Truck Alliance represented 20% of all heavy-duty and medium-duty trucking fulfilled orders in 2020 for China.
The company said it is in the early stages of monetization with several fee-based programs rolled out in late 2020. The company had revenue of $395.5 million in 2020 and $132.9 million in the first quarter of 2021.&nbsp;
The company plans to list on the New York Stock Exchange as &quot;YMM.&quot;
First Advantage Corporation: A global provider of services like criminal backgrounds, drug screens, work verification, data analytics and social media monitoring is set to go <a href="https://www.sec.gov/Archives/edgar/data/1210677/000119312521189386/d147929ds1a.htm">public</a>. First Advantage Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fa#NASDAQ">FA</a>) had more than&nbsp;30,000 customers in 2020 and performed more than 75 million screens.
The company counts five of the top ten private sector employers, 55% of the Fortune 100 and one-third of the Fortune 500 as customers. The company is seeking to sell 21.3 million shares at a price point of $13 to $15. Workday Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wday#NASDAQ">WDAY</a>) will own 5.8% of the company after the offering.
Sprinklr: Counting around 50% of the Fortune 100 as customers, Sprinklr, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cxm#NYSE">CXM</a>) <a href="https://www.sec.gov/Archives/edgar/data/1569345/000119312521189523/d58050ds1a.htm">empowers </a>large brands to make their customers happier. The company had 69 customers that represented 12 month revenue of $1 million or more. Fiscal 2021 revenue of $386.9 million was up 19% year-over-year.
The company uses artificial intelligence to make predictions for its partners every day.
Sprinklr is planning to sell 19 million shares at a price point of $18 to $20.
Soulgate: Virtual social playground Soulgate&nbsp;is <a href="https://www.sec.gov/Archives/edgar/data/1832879/000119312521193127/d109555df1a.htm">planning </a>to sell 13.2 million ADS at a price point of $13 to $15. The company powers a metaverse for younger generations with a large Gen Z user base.
Soulgate had 33.2 million MAUs in 2020, up 109% year-over-year. The company had 9.1 million DAU as of March, up from 5.9 million at the end of 2020. The company&rsquo;s users known as &ldquo;Soulers&rdquo; spend an average of 40 minutes daily on the platform. It plans to list on Nasdaq under the ticker &quot;SSR.&quot;
Bright Health Group Inc: Healthcare company Bright Health Group Inc&nbsp;is <a href="https://www.sec.gov/Archives/edgar/data/1671284/000110465921081209/tm217793-13_s1a.htm">planning </a>on selling 60 million shares at a price point of $20 to $23. The company operates in 99 markets across 13 states and works with more than 200,000 providers and over 600,000 members. The company&rsquo;s revenue was $1.2 billion in 2020 and $874.6 million in the first quarter of 2021. It is planning to list on the NYSE&nbsp;as &quot;BHG.&quot;
Related Link:<a href="https://www.benzinga.com/news/21/06/21555942/ipo-preview-walkme-atai-life-sciences-highlight-week-of-many-offerings"> IPO Preview: WalkMe, Atai Life Sciences Highlight Week Of Many Offerings</a>
Doximity: Digital medical professional platform company Doximity Inc <a href="https://www.sec.gov/Archives/edgar/data/1516513/000162828021012207/doximity-sx1a1.htm">plans </a>to sell 23.3 million shares at a price point of $20 to $23.
The company helps physicians be more productive and provide better care for patients. Doximity is used by 80% of all U.S. physicians. The company is used by 20 of the top 20 pharmaceutical manufacturers and 20 of the top 20 hospitals in the U.S.
Revenue for the company was $116 million in 2020.
Miromatrix Medical: Life sciences company Miromatrix Medical&nbsp;is <a href="https://www.sec.gov/Archives/edgar/data/1527096/000110465921081710/tm2111005-11_s1a.htm">working </a>on technology to bioengineer fully transplantable human organs with a mission to eliminate the organ transplant waiting list which has more than&nbsp;114,000 people in the U.S. Miromatrix has collaborations with Mayo Clinic, Mount Sinai and the Texas Heart Institute.
The company is working on plans for liver and kidney bioengineered organs initially. Investors in Miromatrix include Baxter International Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bax#NYSE">BAX</a>) at 17%, Davita Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dva#NYSE">DVA</a>) at 15.2% and CareDx Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdna#NASDAQ">CDNA</a>) at 5.7%. The company plans to list on Nasdaq as &quot;MIRO.&quot;
Confluent: Data infrastructure company Confluent Inc is <a href="https://www.sec.gov/Archives/edgar/data/1699838/000119312521191615/d63025ds1a.htm">seeking </a>to sell 23 million shares at a price point of $29 to $33.
The company helps more than 2,500 customers with omnichannel solutions, real-time inventory management solutions and other items. The company&rsquo;s revenue was $236.6 million in 2020 and $77.0 million in the first quarter of 2021.
Sixty of the company&rsquo;s customers represent $1 million annually and 560 customers represent $100,000 in revenue annually.
Mister Car Wash: The nation&rsquo;s largest car wash brand is<a href="https://www.sec.gov/Archives/edgar/data/1853513/000119312521192606/d117644ds1a.htm"> going public</a> with and&nbsp;IPO.
The company had 344 locations in 21 states as of the end of March. In the last twelve months ending March, the company washed 59.6 million cars and had revenue of $595 million. The company&rsquo;s 1.4 million unlimited wash club members represent 62% of sales. Same-store sales for the company have averaged 7% over the last 11 years.
It plans to list on the NYSE as &quot;MCW.&quot;
(Photo by <a href="https://unsplash.com/@romaindancre?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Romain Dancre</a> on <a href="https://unsplash.com/s/photos/signimg-documents?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Unsplash</a>)

IPOs

CDNA

SPPI

UNCY

WDAY

IPO Preview: Full Truck Alliance, Sprinklr, Mister Car Wash, Soulgate Lead Busy Week Of 10+ Offerings

Offerings

Torchlight Energy Resources 8-K Shows Amendment To Sales Deal With Roth Capital To Increase Aggregate Offering Price For Its At-The-Market Offering From $!00M To $250M

Globus Maritime LTD. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/glbs#NASDAQ">GLBS</a>) shares traded higher Monday after the company reported a total comprehensive loss of $800,000 for the first quarter. This compares to a $9-million loss in the year-ago period. Revenue rose from $2.3 million to $5.2 million.
Globus Maritime was up 2.57% at $5.19 at the close Monday.&nbsp;<img alt="glbsdaily6-21-21.png" src="https://www.benzinga.com/files/u285825/glbsdaily6-21-21.png" style="height:400px; width:640px" />
<h3>Globus Maritime Daily Chart Analysis</h3>
<ul>
<li>Shares were falling the past few months, but now look to have broken out in what technical traders call a falling wedge pattern. Shares have been able to form higher lows since the breakout.</li>
<li>The stock is trading above the 50-day moving average (green), but below the 200-day moving average (blue), indicating the stock is likely in a period of consolidation.</li>
<li>The 50-day moving average may hold as an area of support, while the 200-day moving average may act as an area of resistance.</li>
</ul>
<h3>Key Globus Maritime Levels To Watch</h3>
<ul>
<li>The stock looks to have broken out of a falling wedge pattern and is now formed into an uptrend.</li>
<li>This bullish reversal pattern happens after the stock makes a large run up and starts pulling back. The slope of the line connecting the highs is much steeper than the line connecting the lows.</li>
<li>Since the stock was able to have broken out of pattern resistance, it now looks to have formed higher lows. In an uptrend this higher low trendline may hold as an area of support.</li>
</ul>
<h3>What&rsquo;s Next For Globus Maritime?</h3>
Bullish technical traders would like to see the stock continue to hold along the higher low trendline. As this trendline continues to hold, bulls will continue to maintain control of the stock. Holding this trendline may gear the stock up to see a nice bullish move.
Bearish technical traders would like to see the stock fall below the higher low trendline. Bears also would like to see the stock fall below the pattern support. If the stock can fall below the pattern support, it could see a strong downward push.

Earnings

Long Ideas

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GLBS

What's Next For Globus Maritime After The Stock's Rally

Guidance

Commodities

Nutrien Raises FY21 Potash Sales Volume Guidance To 13.3M-13.8M Tonnes

UPDATE: Nutrien Raises H1'21 Adj. EPS Guidance From $2-$2.20 To $2.30-$2.50

KORE Wireless is set to go public via special purpose acquisition company (SPAC)&nbsp;Cerberus Telecom Acquisition Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ctac#NYSE">CTAC</a>) in a deal with a&nbsp;pro-forma enterprise value of approximately $1&nbsp;billion.
Romil Bahl, president and CEO of KORE Wireless, appeared on&nbsp;<a href="https://www.youtube.com/watch?v=ziIcOCzuv3U">Benzinga&#39;s YouTube show &quot;SPACs Attack&quot;</a>&nbsp;for an exclusive interview Monday.&nbsp;
What Is KORE Wireless?&nbsp;The company focuses on managing and scaling&nbsp;IoT (Internet of Things) solutions for its customers.&nbsp;
Smart city lighting,&nbsp;smart meters,&nbsp;fleet management, home security, gas tank and alcohol monitors&nbsp;are just some of the customer use cases, Bahl told Benzinga.&nbsp;
IoT encompasses everything, he&nbsp;said, adding that if a device is connected to the internet it is within the scope of KORE Wireless.
KORE Wireless simplifies the ecosystem of IoT, Bahl added.&nbsp;
Mergers And Acquisitions:&nbsp;The M&amp;A accelerates the strategic repositioning of the company, the KORE Wireless CEO said.&nbsp;
The KORE Wireless customer base is growing by 20% or more annually, he noted, adding that as its&nbsp;customer base grows, so does KORE Wireless.
The company&nbsp;&quot;doubled down&quot; on its connectivity as a service offering through its acquisition&nbsp;of Aspider, Bahl said.&nbsp;
It also acquired Integron in 2019,&nbsp;which gave&nbsp;the company&nbsp;managed services and solutions capabilities as well as critical mass in the connected health space, he told Benzinga.
There remain multiple&nbsp;opportunities&nbsp;to acquire companies in industries that can&nbsp;help expand and improve the IoT solutions that&nbsp;KORE Wireless offers, Bahl noted.&nbsp;
SPAC Notes: The merger is expected&nbsp;to take place sometime in the third quarter, and&nbsp;Bahl noted&nbsp;he is optimistic&nbsp;the merger will take place in the first half of that quarter.
Pending shareholder approval, the combined company will be listed on the New York Stock Exchange and&nbsp;trade under the&nbsp;ticker symbol &ldquo;KORE.&quot;
CTAC Price Action:&nbsp;Cerberus Telecom Acquisition Corp has traded as high as $11.24 and as low as $9.72 since its IPO in October 2020.&nbsp;
At last check Monday, the stock was down 0.15% at $9.94.

Exclusives

CTAC

EXCLUSIVE: KORE Wireless CEO Romil Bahl Talks The Business, M&A On 'SPACs Attack'

Nutrien Raises Guidance

UDR Prices 6.1M Share Common Stock Offering At $49.38/Share

ADO Properties: Massive Dilution Via Rights Issue

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