Latest News for Imugene Stock (OTC:IUGNF)

Imugene Ltd specializes in a clinical-stage immuno-oncology company. Its product includes HER-Vaxx,PD1-Vaxx, CF33 and CF33 CD19. HER-Vaxx is a proprietary HER2 +ve cancer vaccine that stimulates a polyclonal antibody response to HER2/neu. The company is also developing B-cell peptide cancer vaccines and therapeutics. Its only operating segment being the Research and Development of oncolytic immunotherapies.

Imugene Ltd

Shares of application software company Autodesk Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) are moving lower after the close on Tuesday following an update from the company on its <a href="https://www.benzinga.com/pressreleases/24/04/n38279870/autodesk-provides-update-on-delayed-form-10-k-filing">delayed quarterly report</a>.
What Happened: Earlier this month, Autodesk announced an internal investigation was being conducted by its board&#8217;s audit committee after information was brought to the attention of management related to the company&#8217;s earnings release in February. 
Autodesk said this week that the committee commenced an internal investigation regarding the company&#8217;s free cash flow and non-GAAP operating margin practices. 
&#8220;The subject of the internal investigation remains the same as previously disclosed, and the Company currently does not believe that any of the matters under investigation affect any previously issued financial statements or the information in the Company&#8217;s earnings release on&nbsp;February 29, 2024. As of today, the investigation is ongoing and all parties continue to work diligently to complete the investigation,&#8221; the company said in a press release.
As a result of the ongoing investigation, Autodesk said it&#8217;s unable to file its annual report for the year ended Jan. 31, 2024, within the 15-day extension period. Accordingly, the company expects to receive a Nasdaq notice informing the company that it is not in compliance with the timely filing requirement for continued listing under Nasdaq rules. 
&#8220;The Company intends to take the necessary steps to regain compliance with Nasdaq&#8217;s listing rules as soon as practicable,&#8221; Autodesk said.
Don&#8217;t Miss: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/04/38278182/powell-delays-fed-rate-cuts-we-need-greater-confidence-in-inflation-2-year-yields-spik">Powell Delays Fed Rate Cuts, Says &#8216;We Need Greater Confidence In Inflation&#8217;: 2-Year Yields Spike To 5%</a>
ADSK Price Action: <a href="https://www.benzinga.com/quote/ADSK">Autodesk shares</a> were down 3.62% Tuesday after-hours at $220, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Courtesy of Autodesk.

News

After-Hours Center

Movers

ADSK

What's Going On With Autodesk Stock After Hours?

WIIM

CXAI

CXApp share are trading higher after the company announced 24% ARR growth in 2023.

The commercial real estate industry continues to reel from the impacts of remote work <a href="http://benzinga.com/analyst-ratings/analyst-color/24/04/38219988/economists-warn-feds-inflation-battle-could-trigger-recession-have-to-increase-the-">and escalating inflation.</a>
Elevated interest rates and a widespread trend toward reducing office space across various industries have left the sector facing unprecedented amounts of vacant office space.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38273192/goldman-sachs-boasts-near-perfect-q1-results-5-analysts-zero-in-on-core-strengths">On an earnings call on Monday</a>, Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) CEO David M. Solomon mentioned the poor state of commercial real estate as one of the main factors slowing U.S. growth, along with continuing concerns about inflation and escalating geopolitical tensions.
The sector has become especially sensitive to speculation around interest rates. Last month, a hint of rate cuts by the Fed <a href="https://www.benzinga.com/real-estate/reit/24/03/37882885/10-real-estate-stocks-move-on-thursday-fed-rate-cut-possibility-sparks-rally-for-troubled-sector">had several stocks and funds jump through the roof</a> in a show of volatility that's unknown to a sector normally praised for offering stability against riskier markets.
Just days later, S&amp;P Global Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) <a href="https://www.benzinga.com//node/37950136">decided to downgrade five regional banks</a> based on risks associated with the unstable commercial real estate market.
Operational shifts for big tech companies are partly fueling the commercial real estate slump. The change to remote or hybrid work, which has become the new status quo in the tech sector after the strike of COVID-19, has left many companies juggling more office space than they need.
That's added to a massive trend of layoffs which continued to be common practice in<a href="https://www.benzinga.com/markets/equities/24/01/36874447/tech-layoffs-up-over-300-month-over-month-in-january-3-companies-with-the-most-employees-laid-of"> the tech sector during the first quarter of 2024</a>, after a slight downtick during the second half of 2023.
Late last month, Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) said it plans to cut $1.3 billion <a href="https://www.benzinga.com/news/24/03/37983953/amazons-strategic-real-estate-plan-to-reduce-vacancy-rate-and-enhance-workspace-efficiency">by reducing office space and ending leases early</a>. The tech behemoth faces a 33.8% vacancy rate in its offices after laying off over 27,000 employees in 2022 and 2023.
According to a Wall Street Journal <a href="https://www.wsj.com/real-estate/commercial/big-tech-is-downsizing-work-space-in-another-blow-to-office-real-estate-67b4685c?mod=hp_featst_pos3">report</a>, Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) is subleasing some of its Silicon Valley office space, while Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has reduced leases for its own office space. The Facebook owner has been slashing office space all around the globe this year, <a href="https://www.benzinga.com//node/37024306">including in locations like Singapore</a> and <a href="https://www.benzinga.com//node/34900681">London</a>. Meanwhile, Salesforce Inc's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) SEC filings show that the company is using half the office space it was using one year ago in the San Francisco area.
Read also: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/04/38278182/powell-delays-fed-rate-cuts-we-need-greater-confidence-in-inflation-2-year-yields-spik">Powell Delays Fed Rate Cuts—&#8217;We Need Greater Confidence In Inflation&#8217;; 2-Year Yields Spike To 5%</a>
The pullback from tech is proving especially painful for the real estate sector when it adds losses from other common office-dwelling sectors, including law firms and financial companies.
By January, a Moody's Analytics report put the average<a href="https://www.benzinga.com/markets/equities/24/01/36542862/empty-spaces-us-office-vacancies-rise-to-highest-levels-in-four-decades"> vacant office space in large cities around the country at 19.6%</a>, the highest it's been since 1979.
Several cities are showcasing extreme levels of office vacancy these days, with San Francisco at a record of 36.7%, compared to just 3.6% before the pandemic. The void is more noticeable in cities associated with the tech industry, including Seattle, New York and Austin. In Seattle, office property transactions <a href="https://www.benzinga.com/news/financing/24/02/37134484/seattles-office-space-dives-98-7-dip-reflects-tech-storm-hybrid-shifts">declined in 2023 a staggering 98.7% year-over-year</a> after almost 45,000 employees were laid off in the area.
On Wells Fargo &amp; Co&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>)<a href="https://www.benzinga.com//node/38219378"> Q1 call last week,</a> CEO Charles W. Scharf said that commercial real estate revenue was down 7% from the previous year, impacted by lower loan demand in that sector.
Yet the executive added that the sector, which is primarily made up of office space, didn't experience significant changes when compared to the last quarter of 2023.
Vanguard Real Estate Index Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>), by far the largest real estate ETF by assets under management, is down almost 11% since January, with a 5% drop in the last five days.
Schwab US REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHH#NYSE">SCHH</a>) and Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) present very similar trajectories.
However, it's not all bad news for investors in the space. Blackstone Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) President Jon Gray recently said this could be the right time to<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37719939/is-it-time-to-buy-the-commercial-real-estate-dip-the-worlds-biggest-private-equity-"> "buy the dip" on the real estate plunge</a>. The asset manager is optimistic about the long term future of commercial real estate when considering that the Fed will sooner or later have to reduce rates.
Once that happens, the diminished supply of new developments following this slowdown, combined with cheaper cost of borrowing, could kickstart the industry upwards once more.
Now read: <a href="https://www.benzinga.com/markets/equities/24/04/38277243/stocks-grapple-with-geopolitical-pressures-gold-eyes-2-400-bitcoin-falls-below-62-000-whats-driv">Stocks Grapple With Geopolitical Pressures, Gold Eyes $2,400, Bitcoin Falls Below $62,000: What&#8217;s Driving Markets Tuesday?</a>
Image generated using artificial intelligence via Midjourney.

Specialty ETFs

Markets

Tech

ETFs

Real Estate

AMZN

GOOG

GOOGL

SCHH

SPGI

XLRE

Tech Layoffs, Remote Work Push Office Vacancies To 19.6%, Highest Since 1979

Snap's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) short percent of float has risen 43.93% since its last report. The company recently reported that it has 81.33 million shares sold short, which is 9.01% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.65 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Snap Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713300322_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Snap has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Snap's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Snap's peer group average for short interest as a percentage of float is 6.45%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

SNAP

Peering Into Snap's Recent Short Interest

Light &amp; Wonder's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LNW#NYSE">LNW</a>) short percent of float has fallen 5.35% since its last report. The company recently reported that it has 4.37 million shares sold short, which is 7.25% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.55 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Light &amp; Wonder Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713300317_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Light &amp; Wonder has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Light &amp; Wonder's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Light &amp; Wonder's peer group average for short interest as a percentage of float is 4.63%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Light & Wonder?

Welltower's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WELL#NYSE">WELL</a>) short percent of float has risen 5.92% since its last report. The company recently reported that it has 7.09 million shares sold short, which is 1.79% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.82 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Welltower Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713300311_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Welltower has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Welltower's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Welltower's peer group average for short interest as a percentage of float is 6.81%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

WELL

Peering Into Welltower's Recent Short Interest

<a href="https://www.bloomberg.com/news/articles/2024-04-16/sec-targets-its-own-staff-s-texting-nixes-whatsapp-on-agency-s-mobile-phones?sref=2h1zKciy" title="https://www.bloomberg.com/news/articles/2024-04-16/sec-targets-its-own-staff-s-texting-nixes-whatsapp-on-agency-s-mobile-phones?sref=2h1zKciy">https://www.bloomberg.com/news/articles/2024-04-16/sec-targets-its-own-staff-s-texting-nixes-whatsapp-on-agency-s-mobile-phones?sref=2h1zKciy</a>

Legal

SEC Blocks Third-Party Messaging Apps And Texts On Employees' Work Mobile Phones

MGAM

Mobile Global Esports shares are trading higher. The stock may be experiencing volatility following its recent delisting notice.

It doesn&#39;t matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores?
The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value Score
For value investors, it&#39;s all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth Score
While good value is important, growth investors are more focused on a company&#39;s financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum Score
Momentum investors, who live by the saying &quot;the trend is your friend&quot; are most interested in taking advantage of upward or downward trends in a stock&#39;s price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM Score
What if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company&#39;s earnings expectations, to help investors build a successful portfolio.
Investors can count on the Zacks Rank&#39;s success, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988, more than double the S&amp;P 500&#39;s performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That&#39;s where the Style Scores come in.
To have the best chance of big returns, you&#39;ll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you&#39;re looking at stocks with a #3 (Hold) rank, it&#39;s important they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock&#39;s earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Hilton Worldwide Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hlt#NYSE">HLT</a>)
Founded in 1919 and headquartered in McLean, VA, Hilton Worldwide Holdings is a hospitality company that owns, leases, manages, develops, and franchises hotels and resorts. As of Dec 31, 2023, Hilton&#39;s development pipeline comprised nearly 3,274 hotels, with almost 462,400 rooms across 118 countries and territories &mdash; including 30 countries and territories where it currently has no running hotels. Moreover, 259,800 rooms in the development pipeline were located outside the United States and 216,600 rooms were under construction.
HLT is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. HLT has a Growth Style Score of B, forecasting year-over-year earnings growth of 13.7% for the current fiscal year.
For fiscal 2024, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.05 to $7.06 per share. HLT boasts an average earnings surprise of 5.1%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, HLT should be on investors&#39; short list.
<a href="https://www.zacks.com/stock/news/2256034/why-hilton-worldwide-holdings-inc-hlt-is-a-top-growth-stock-for-the-long-term?cid=CS-BENZ-FT-tale_of_the_tape|zacks_education_growth_score-2256034">To read this article on Zacks.com click here.</a>

Why Hilton Worldwide Holdings Inc. is a Top Growth Stock for the Long-Term

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.
Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.
In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system&#39;s &quot;Value&quot; category. Stocks with &quot;A&quot; grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.
One company to watch right now is YPF Sociedad Anonima (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ypf#NYSE">YPF</a>). YPF is currently sporting a Zacks Rank of #1 (Strong Buy), as well as a Value grade of A.
We should also highlight that YPF has a P/B ratio of 0.92. The P/B ratio is used to compare a stock&#39;s market value with its book value, which is defined as total assets minus total liabilities. This stock&#39;s P/B looks attractive against its industry&#39;s average P/B of 1.47. Over the past 12 months, YPF&#39;s P/B has been as high as 0.95 and as low as 0.35, with a median of 0.52.
Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a prefered metric because revenue can&#39;t really be manipulated, so sales are often a truer performance indicator. YPF has a P/S ratio of 0.46. This compares to its industry&#39;s average P/S of 0.63.
Finally, investors will want to recognize that YPF has a P/CF ratio of 4.23. This data point considers a firm&#39;s operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. This stock&#39;s P/CF looks attractive against its industry&#39;s average P/CF of 5.42. Over the past year, YPF&#39;s P/CF has been as high as 4.34 and as low as 0.79, with a median of 1.15.
These figures are just a handful of the metrics value investors tend to look at, but they help show that YPF Sociedad Anonima is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, YPF feels like a great value stock at the moment.
<a href="https://www.zacks.com/stock/news/2255995/are-investors-undervaluing-ypf-sociedad-anonima-ypf-right-now?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_2-2255995">To read this article on Zacks.com click here.</a>

Commodities

Are Investors Undervaluing YPF Sociedad Anonima (YPF) Right Now?

By <a href="https://scr.zacks.com/analyst-bios/person-details/default.aspx?ItemId=e38a3af7-5620-44ff-b299-706e26bed702">David Bautz, PhD</a>
Business Update
Reaches Agreement with European Medicines Agency on Second Confirmatory Trial for HyBryte&trade;
On April 3, 2024, Soligenix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sngx#NASDAQ">SNGX</a>) announced it has reached agreement with the European Medicines Agency (EMA) on the key design elements for a confirmatory Phase 3 trial of HyBryte (synthetic hypericin) for the treatment of cutaneous T cell lymphoma (CTCL).
The proposed Phase 3 FLASH 2 trial will be a randomized, double blind, placebo controlled, multicenter study that will enroll approximately 80 subjects with CTCL. HyBryte will be applied topically to CTCL lesions twice weekly for 18 weeks, with each application followed 21 (&plusmn; 3) hours later by the administration of visible light at a wavelength of 500 to 650 nm. The light will be administered starting at 6 J/cm2 and will be increased upwards by 2 J/cm2 until: 1) the patient experiences a Grade 1 erythema; 2) the patient reaches a maximum dose of 30 J/cm2, or 3) the patient cannot tolerate the treatment time, whichever comes first. All of the subject&#39;s lesions that are readily available to the visible light source will be treated and 3 to 5 index lesions will be prospectively identified and indexed for the modified composite assessment of index lesions severity (mCAILS) evaluation prior to randomization. The primary endpoint will be assessed by the percent of patients in each treatment group (HyBryte or placebo) achieving a Partial or Complete Response of the treated lesions defined as a &ge;50% reduction in the total mCAILS score for the 3-5 index lesions following 18 weeks of treatment compared to the total mCAILS score at baseline. Following treatment, subjects will be followed every 4 weeks for a total of 12 weeks (through Week 30). One interim analysis is planned after 60% of the total subjects have completed the primary endpoint evaluation. A sample size recalculation may be performed after examining the assumptions or the trial can be halted for futility, safety concerns, or overwhelming efficacy. The figure below gives a comparison between the proposed FLASH2 trial and the previously completed FLASH trial. The similarities between the two increases our confidence in a successful outcome for the FLASH2 trial.
<img src="//s27.q4cdn.com/906368049/files/pictures/2024/04112024_SNGX_1.png" style="width:650px" />
We anticipate that the trial will begin enrollment prior to the end of 2024 and topline results are expected in the second half of 2026. The company is continuing discussions with the U.S. Food and Drug Administration (FDA) on an appropriate study design as the agency has expressed a preference for a longer duration comparative study over a placebo-controlled trial.
Orphan Drug Designation for Sudan Ebolavirus Vaccine
On April 11, 2024, Soligenix announced that the U.S. FDA has granted orphan drug designation (ODD) to the active ingredient in SuVax&trade;, the subunit protein vaccine of recombinantly expressed Sudan ebolavirus (SUDV) glycoprotein, for &quot;the prevention and post-exposure prophylaxis against SUDV infection&quot;.
ODD is designed to assist companies that are developing therapies for rare diseases and disorders, defined as those that affect 200,000 people or fewer in the U.S. Drugs granted ODD receive a seven year term of market exclusivity upon final FDA approval. In addition, financial and regulatory benefits are available including government grants to conduct clinical trials, waiver of FDA user fees, and certain tax credits.
SuVax addresses the potentially lethal Sudan Virus Disease caused by SUDV. While vaccines exist for Zaire ebolavirus, they are ineffective against SUDV. Previous results showed that SuVax offered 100% protection of non-human primates infected with a lethal dose of SUDV. SuVax is based on the company&#39;s novel vaccine platform that consists of a robust protein manufacturing process, a nano-emulsion adjuvant that induces a strong immune response, and thermostabilization of the adjuvant and antigen in a single vial that is stable at elevated temperatures for extended timeframes.
Conclusion
We&#39;re glad to see that Soligenix is ready to move ahead with the second confirmatory Phase 3 clinical trial of HyBryte and we&#39;re confident that the FDA will come to an agreement with the company soon on its preferences for the trial. With a protocol in place for the second Phase 3 study of HyBryte we have increased our probability of approval, which has increased our valuation to $4.00.

Biotech

Penny Stocks

General

SNGX

SNGX: Agreement with EMA on Second Confirmatory Trial for HyBryte™

Indices recover from Friday&#39;s lows as the dollar index hovers at break even. The mounting tensions in Israel-Iran escalated market worries, but financial earnings have kicked off to a good start.
<img alt="" class="wp-image-20985" src="https://www.a1trading.com/wp-content/uploads/2024/04/ef-pro-1-3.png" style="height:57px; width:243px" />
<div class="wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex">
<div class="wp-block-button"><img alt="" class="wp-image-20986" src="https://www.a1trading.com/wp-content/uploads/2024/04/image-22-1024x631.png" style="height:631px; width:1024px" /></div>
</div>
EdgeFinder Analysis
<img alt="" class="wp-image-20985" src="https://www.a1trading.com/wp-content/uploads/2024/04/ef-pro-1-3.png" style="height:57px; width:243px" />
<img alt="" class="wp-image-20988" src="https://www.a1trading.com/wp-content/uploads/2024/04/image-24-1024x618.png" style="height:618px; width:1024px" />
Retail Sales came in higher than expected which is a good sign for the economy. It&#39;s also strong for the USD as it may indicate a further rise in inflation over time. The pair&#39;s score increased by 7 points with help from COT data and unemployment data.
CHF is getting heavily sold from last week&#39;s report as investors see higher-for-longer interest rates in the US. A longer period of this will help the carry trade for the bulls on this pair so investors may want to keep piling in this asset as well as others that have low or lowering interest rates.
<img alt="" class="wp-image-20984" src="https://www.a1trading.com/wp-content/uploads/2024/04/image-21-1024x595.png" style="height:595px; width:1024px" />
UJ is the same way as the US has a much higher interest rate. Price finally broke a significant line of resistance on the 1D timeframe. If the pair came back to the 151.5 level, it could be a buying opportunity for those looking to long.
Otherwise, chasing price could difficult. After breaking the highs, the uptrend will have to take a breather before seeming like another buying opportunity. Right now, price is the highest it&#39;s been since the &#39;90s. The next level of resistance is around 160.
<img alt="" class="wp-image-20985" src="https://www.a1trading.com/wp-content/uploads/2024/04/ef-pro-1-3.png" style="height:57px; width:243px" />
<img alt="" class="wp-image-20995" src="https://www.a1trading.com/wp-content/uploads/2024/04/image-28-1024x618.png" style="height:618px; width:1024px" />
USDCAD is one of the strongest bullish biases on the EdgeFinder right now at +12. The score changed by 8 points to the upside with help from COT, Services PMI, and jobs numbers. This is seasonally one of the worst months of the year, but this time might be different.
Canada is set to report their CPI numbers tomorrow which is expected to come in higher on a month-to-month basis. If CPI does come in higher, it may spark some bullishness around CAD which is still expected to cut much sooner than the US. However, BOC may have to wait on it if inflation does end up coming in hotter.
Retail Spotlight
<img alt="" class="wp-image-20985" src="https://www.a1trading.com/wp-content/uploads/2024/04/ef-pro-1-3.png" style="height:57px; width:243px" />
<img alt="" class="wp-image-20990" src="https://www.a1trading.com/wp-content/uploads/2024/04/image-25-1024x594.png" style="height:594px; width:1024px" />
Retail is now long on several risk-favoring assets such as crypto, Russell (small caps) and NASDAQ. Gold is still mixed, SPX and GER30 are the top short positions from the crowd.
Smart Money Spotlight
<img alt="" class="wp-image-20985" src="https://www.a1trading.com/wp-content/uploads/2024/04/ef-pro-1-3.png" style="height:57px; width:243px" />
<img alt="" class="wp-image-20991" src="https://www.a1trading.com/wp-content/uploads/2024/04/image-26-995x1024.png" style="height:1024px; width:995px" />
COT data came in mixed for last week&#39;s sentiment data. Metals are long, US indices long, dollar is long bonds are long. They are shorting gold, bitcoin, silver, Russell, oil, and a number of currencies.
Fundamental Spotlight
<img alt="" class="wp-image-20985" src="https://www.a1trading.com/wp-content/uploads/2024/04/ef-pro-1-3.png" style="height:57px; width:243px" />
<img alt="" class="wp-image-20992" src="https://www.a1trading.com/wp-content/uploads/2024/04/image-27-1024x542.png" style="height:542px; width:1024px" />
US retail sales beat expectations and rose above last month&#39;s report. This might be more bullish for the dollar than the indices, however. As higher inflation rates are expected from this report, the trend of CPI may continue to beat expectations at a concerning rate for the Fed which wants to start monetary easing this year.
The post <a href="https://www.a1trading.com/dollar-remains-strong/">Dollar Remains Strong</a> first appeared on <a href="https://www.a1trading.com">A1 Trading Company</a>.

Dollar Remains Strong

Quarterly financial reports play a vital role on Wall Street, as they help investors see how a company has performed and what might be coming down the road in the near-term. And out of all of the metrics and results to consider, earnings is one of the most important.
The earnings figure itself is key, of course, but a beat or miss on the bottom line can sometimes be just as, if not more, important. Therefore, investors should consider paying close attention to these earnings surprises, as a big beat can help a stock climb and vice versa.
Hunting for &#39;earnings whispers&#39; or companies poised to beat their quarterly earnings estimates is a somewhat common practice. But that doesn&#39;t make it easy. One way that has been proven to work is by using the Zacks Earnings ESP tool.
The Zacks Earnings ESP, Explained
The Zacks Expected Surprise Prediction, or ESP, works by locking in on the most up-to-date analyst earnings revisions because they can be more accurate than estimates from weeks or even months before the actual release date. The thinking is pretty straightforward: analysts who provide earnings estimates closer to the report are likely to have more information.
With this in mind, the Expected Surprise Prediction compares the Most Accurate Estimate (being the most recent) against the overall Zacks Consensus Estimate. The percentage difference provides the ESP figure. The system also utilizes our core Zacks Rank to provide a stronger system for identifying stocks that might beat their next quarterly earnings estimate and possibly see the stock price climb.
When we join a positive earnings ESP with a Zacks Rank #3 (Hold) or stronger, stocks posted a positive bottom-line surprise 70% of the time. Plus, this system saw investors produce roughly 28% annual returns on average, according to our 10 year backtest.
Stocks with a ranking of #3 (Hold), or 60% of all stocks covered by the Zacks Rank, are expected to perform in-line with the broader market. Stocks with rankings of #2 (Buy) and #1 (Strong Buy), or the top 15% and top 5% of stocks, respectively, should outperform the market; Strong Buy stocks should outperform more than any other rank.
Should You Consider TransDigm Group?
The last thing we will do today, now that we have a grasp on the ESP and how powerful of a tool it can be, is to quickly look at a qualifying stock. TransDigm Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tdg#NYSE">TDG</a>) holds a #3 (Hold) at the moment and its Most Accurate Estimate comes in at $7.46 a share 29 days away from its upcoming earnings release on May 14, 2024.
By taking the percentage difference between the $7.46 Most Accurate Estimate and the $7.36 Zacks Consensus Estimate, TransDigm Group has an Earnings ESP of +1.25%. Investors should also know that TDG is one of a large group of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they&#39;ve reported.
TDG is one of just a large database of Aerospace stocks with positive ESPs. Another solid-looking stock is Leidos (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ldos#NYSE">LDOS</a>).
Leidos is a Zacks Rank #2 (Buy) stock, and is getting ready to report earnings on April 30, 2024. LDOS&#39; Most Accurate Estimate sits at $1.66 a share 15 days from its next earnings release.
For Leidos, the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $1.65 is +0.38%.
TDG and LDOS&#39; positive ESP metrics may signal that a positive earnings surprise for both stocks is on the horizon.
<a href="https://www.zacks.com/stock/news/2255085/these-2-aerospace-stocks-could-beat-earnings-why-they-should-be-on-your-radar?cid=CS-BENZ-FT-tale_of_the_tape|zacks_education_earnings_esp-2255085">To read this article on Zacks.com click here.</a>

Earnings

Earnings Beats

LDOS

These 2 Aerospace Stocks Could Beat Earnings: Why They Should Be on Your Radar

The Goldman Sachs Group, Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gs#NYSE">GS</a>) first-quarter 2024 earnings per share of $11.58 surpassed the Zacks Consensus Estimate of $8.54. Also, the bottom line increased 16.3% from the year-earlier quarter. 
Shares of the company gained 4.02% in the pre-market trading on an earnings beat. Investors seem to be bullish on the stock because of higher revenues reported in the quarter. 
Goldman&#39;s results have benefited from the strength in the consumer banking and investment banking business, along with improved fee income. However, increased expenses and provisions were the undermining factors. 
Net earnings of $4.13 billion rose 27.8% from the prior-year quarter. Our estimate for the metric was pegged at $2.96 billion.
<h3>Quarterly Revenues Increase</h3>
Net revenues for the quarter of $14.21 billion increased 16.3% from the year-ago quarter. Also, the top line surpassed the Zacks Consensus Estimate of $12.89 billion. 
Total operating expenses increased 3% year over year to $8.66 billion. Our estimate for the metric was pinned at $9.12 billion. The year-over-year rise in expenses was mainly due to increased compensation and benefit costs, along with higher transaction-related costs, as well as incremental expenses for the FDIC special assessment fee. This was partially offset by lower impairments related to consolidated real estate investments. 
Provision for credit losses was $318 million against a net provision benefit of $171 million in the first quarter of 2023.
<h3>Quarterly Segmental Performance Improves</h3>
The Asset &amp; Wealth Management division generated revenues of $3.79 billion in the reported quarter, up 17.8% year over year. Our estimate for the metric was pegged at $4.04 billion. The improvement was driven by higher management and incentive fees, equity investments and a rise in revenues from private banking and lending. 
Firmwide assets under supervision were a record $2.85 trillion, up from $2.67 trillion reported in the prior quarter. 
The Global Banking &amp; Markets division has recorded revenues of $9.73 billion, which increased 15.2% year over year. Our estimate for the metric was $7.83 billion. The improvement was due to an increase in the investment banking business (up 12%), higher revenues in FICC (up 10%), along with a rise in equities revenues (up 10%). 
The Platform Solutions division&#39;s revenues were $698 million, up 23.8% year over year. Our estimate for the metric was $1.13 billion. The jump was driven by higher revenues from consumer platforms.
<h3>Capital Ratios: Mixed Bag</h3>
As of Mar 31, 2024, the standardized Common Equity Tier 1 capital ratio was 14.7%, up 14.4% on a sequential basis. The company&#39;s supplementary leverage ratio was 5.4%, down from the previous quarter&#39;s 5.8%.
<h3>Capital Deployment Update</h3>
In the first quarter of 2024, Goldman returned $2.43 billion of capital to common shareholders. This included $1.50 billion in share repurchases and common stock dividends of $929 million.
<h3>Our View</h3>
While Goldman&#39;s well-diversified business will ensure earnings stability going forward, macroeconomic uncertainty and recessionary fears will likely weigh on its financial performance. Strength in the consumer banking and investment banking business is a tailwind. Active client engagement, and a solid position in announced and completed mergers and acquisitions globally are likely to act as tailwinds. However, increased expenses and provisions remain a concern.
<div class="chart_embed">
<h3>The Goldman Sachs Group, Inc. Price, Consensus and EPS Surprise</h3>
&nbsp;
<a href="https://www.zacks.com/stock/chart/GS/price-consensus-eps-surprise-chart?icid=chart-GS-price-consensus-eps-surprise-chart"><img alt="The Goldman Sachs Group, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/19/1713191659.png" style="height:265px; width:589px" title="" /> </a>
The Goldman Sachs Group, Inc. price-consensus-eps-surprise-chart | The Goldman Sachs Group, Inc. Quote
</div>
Currently, Goldman carries a Zacks Rank #3 (Hold).
<h3>Performance of Other Big Banks</h3>
Citigroup Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/c#NYSE">C</a>) first-quarter 2024 net income from continuing operations per share of $1.58 surpassed the Zacks Consensus Estimate of $1.13. However, the metric declined 28% from the year-ago quarter. 
Citigroup witnessed declines in total loans and deposits in the quarter. Also, a decline in revenues and deteriorating credit quality are near-term woes. 
Wells Fargo &amp; Company&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wfc#NYSE">WFC</a>) first-quarter 2024 adjusted earnings per share of $1.26 surpassed the Zacks Consensus Estimate of $1.10. The adjusted figure excludes the impacts of expenses from the FDIC special assessment. In the prior-year quarter, the company reported earnings per share of $1.23. 
WFC&#39;s results benefited from higher non-interest income. An improvement in capital ratios and a decline in provisions were other positives. However, the decrease in net interest income and loan balances and an increase in expenses were the undermining factors.
<a href="https://www.zacks.com/stock/news/2255584/goldman-gs-q1-earnings-beat-estimates-revenues-rise-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2255584">To read this article on Zacks.com click here.</a>

Goldman Q1 Earnings Beat Estimates, Revenues Rise Y/Y

<div>Freight shipments and expenditures in March were largely in line with February, underperforming normal seasonal trends, according to the Cass Freight Index published Monday. The year-over-year (y/y) declines in both data sets eased again during the month.</div>

March shipments were down 2.3% seasonally adjusted from February and 3.6% from the same month last year. Without the seasonal adjustment, March volumes were down 0.2% sequentially. However, February did include one extra day this year.

The shipments index now sits 7.5% below the March 2022 level.

Shipments captured by the index, which is trucking-centric, increased approximately 2% seasonally adjusted from the fourth to the first quarter. <script type="text/javascript">
 window.googletag = window.googletag || {cmd: []};
 googletag.cmd.push(function() {
 googletag.defineSlot('/21776187881/FW-Responsive-Main_Content-Slot1', [[300, 100], [320, 50], [728, 90], [468, 60]], 'div-gpt-ad-1709668545404-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads());
 googletag.pubads().enableSingleRequest();
 googletag.pubads().collapseEmptyDivs();
 googletag.enableServices();
 });
</script>

<div>


<div id="div-gpt-ad-1709668545404-0"><script type="text/javascript">
 googletag.cmd.push(function() { googletag.display('div-gpt-ad-1709668545404-0'); });
 </script></div>
</div>

The Monday report pushed back the expectation for a positive volume inflection by one month. The index is expected to decline 2% to 3% y/y in April, turning positive by June.

<table><tbody><tr><td>March 2024</td>
			<td> y/y</td>
			<td> 2-year</td>
			<td> m/m</td>
			<td> m/m (SA)</td>
		</tr><tr><td>Shipments</td>
			<td>-3.6%</td>
			<td>-7.5%</td>
			<td>-0.2%</td>
			<td>-2.3%</td>
		</tr><tr><td>Expenditures</td>
			<td>-18.5%</td>
			<td>-28.3%</td>
			<td>0.1%</td>
			<td>-1.3%</td>
		</tr><tr><td>TL Linehaul Index</td>
			<td>-4.7%</td>
			<td>-13.8%</td>
			<td>0.2%</td>
			<td>NM</td>
		</tr></tbody></table>

Table: Cass Information Systems (SA – seasonally adjusted)

Cass' expenditures data set, which measures all dollars spent on freight (including fuel surcharges and accessorial charges), fell 1.3% seasonally adjusted from February to March and 18.5% y/y.

Netting out the change in volumes from the change in freight spend implies actual rates were down 15.4% y/y during the month. The subindex for implied rates has been down y/y by midteens to 21% for 10 consecutive months. <script type="text/javascript">
 window.googletag = window.googletag || {cmd: []};
 googletag.cmd.push(function() {
 googletag.defineSlot('/21776187881/fw-responsive-main_content-slot2', [[468, 60], [728, 90], [300, 100], [320, 50]], 'div-gpt-ad-1665767472470-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads());
 googletag.pubads().enableSingleRequest();
 googletag.pubads().collapseEmptyDivs();
 googletag.enableServices();
 });
</script>

<div>


<div id="div-gpt-ad-1665767472470-0"><script type="text/javascript">
 googletag.cmd.push(function() { googletag.display('div-gpt-ad-1665767472470-0'); });
 </script></div>
</div>

Compared to March 2022, total freight expenditures were down 28.3%. The data set is expected to fall 14% y/y in the first half of this year and 9% for the full year.

Cass' truckload linehaul index, which excludes changes in fuel and accessorial charges, increased 0.2% sequentially and was down just 4.7% y/y. The y/y decline was the smallest since December 2022. The TL linehaul index captures changes in both spot and contract rates.

The subindex was down 13.8% on a two-year comparison but has been in a "very tight range" for the past nine months.

<div>
<script type="text/javascript">
 window.googletag = window.googletag || {cmd: []};
 googletag.cmd.push(function() {
 googletag.defineSlot('/21776187881/fw-responsive-main_content-slot3', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767553440-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads());
 googletag.pubads().enableSingleRequest();
 googletag.pubads().collapseEmptyDivs();
 googletag.enableServices();
 });
</script>



<div id="div-gpt-ad-1665767553440-0"><script type="text/javascript">
 googletag.cmd.push(function() { googletag.display('div-gpt-ad-1665767553440-0'); });
 </script></div>
</div>

"With spot rates steady over the past several months, downward pressure on the larger contract market is lessening, with some instances of contract rate increases bucking the downtrend recently" the report said.

<a href="https://sonar.surf/chart"><img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/15/spot-rates-1200x415.jpg" /></a>

Chart: (SONAR: NTIL.USA). The National Truckload Index (linehaul only – NTIL) is based on an average of booked spot dry van loads from 250,000 lanes. The NTIL is a seven-day moving average of linehaul spot rates excluding fuel.

Cass' March report closes out the first quarter on a down note. In recent weeks, equity analysts have been cutting expectations ahead of the first-quarter earnings season, which J.B. Hunt Transport Services (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jbht#NASDAQ">JBHT</a>) kicks off Tuesday evening. A tepid backdrop in the overall U.S. industrial complex alongside a massive overhang of available truck capacity appears likely to keep TL rates in check in the near term.

Data used in the Cass indexes is derived from freight bills paid by Cass (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cass#NASDAQ">CASS</a>), a provider of payment management solutions. Cass processes roughly $40 billion in freight payables annually on behalf of customers.

The post <a href="https://www.freightwaves.com/news/march-freight-metrics-flat-with-february-cass-data-shows">March freight metrics flat with February, Cass data shows</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.

Small Cap

CASS

JBHT

March Freight Metrics Flat with February, Cass Data Shows

FULT

Fulton Financial Q1 Sales $211.53M Miss $216.52M Estimate

Summary Fiscal Year 2023 Financial ResultsTotal revenue during fiscal year ended December 31, 2023, was $30.1 million compared to $55.9 million in the prior year.

XWEL

XWELL, Inc. FY23 Revenue $30.1M Vs $55.9M YoY

One of the most discussed concepts in the cannabis industry is diversification—a strategy discussed in depth during a panel on the first day of the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> in Florida.&nbsp;
Moderated by Amy Rubenstein, partner at Dentons, the panel gathered industry experts to dissect what diversification means for <a href="https://www.benzinga.com/cannabis" target="_blank" rel="noreferrer noopener">cannabis businesses</a> and how it can secure their growth and financial health amidst a dynamic market.
Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access <a href="https://www.benzinga.com/research/cannabis-capital-conference">through our research </a><a href="https://www.benzinga.com/research/cannabis-capital-conference" target="_blank" rel="noreferrer noopener">platform</a>. For new users, you can get <a href="https://www.benzinga.com/premium/ideas/sales-landing-2-2/" target="_blank" rel="noreferrer noopener">instant access here</a>!
<h3 class="wp-block-heading">The Essence Of Diversification</h3>
Panelist Gerald Pascarelli, SVP, Equity Research at Wedbush, emphasized the necessity of a diverse portfolio, including different delivery mechanisms, form factors, and price points. &#8220;Most companies are paying a 70% effective tax rate. When you think about where diversification or growth can go wrong, it&#8217;s spending too much CapEx and not protecting your cash,&#8221; Pascarelli explained.
The opinion of Vahan Ajamian, capital markets advisor at High Tide Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HITI#NASDAQ">HITI</a>), on diversification focused on <a href="https://www.benzinga.com/money/vertical-integration-in-the-cannabis-industry" target="_blank" rel="noreferrer noopener">vertical integration</a> challenges and opportunities, particularly in restrictive markets like <a href="https://www.benzinga.com/topic/canada-cannabis">Canada</a>. &#8220;It&#8217;s about leveraging what you can—like accessories in our case—to offset vertical integration limitations, ensuring a direct impact on the bottom line,&#8221; Ajamian stated, shedding light on creative approaches to circumvent market restrictions.
Read also: <a href="https://www.benzinga.com/markets/cannabis/24/04/38270878/exclusive-green-check-brinks-owned-pai-forge-partnership-to-expand-atm-access-for-cannabis-busin" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Green Check, Brinks-Owned PAI Forge Partnership To Expand ATM Access For Cannabis Businesses</a>
<h3 class="wp-block-heading">Navigating Through Challenges</h3>
Despite the apparent benefits, diversification comes with its hurdles. Ajamian warned against straying too far from the core mission, pointing out that unsuccessful diversification often stems from a misalignment of business actions with the company&#8217;s foundational goals.&nbsp;
Adam Stettner, CEO of FundCanna, echoed this sentiment, warning against spreading too thin and losing sight of what has proven successful. &#8220;Diversification is great only if it leads to benefit for the operator and the team,&#8221; Stettner said. Ensuring multiple sources for purchasing and selling can safeguard businesses from unforeseen disruptions, fostering stability and resilience.
Similarly, Cassia Furman, partner at Vicente LLP, cautioned about the complexities of expanding product lines and entering new markets, emphasizing the need for <a href="https://www.benzinga.com/markets/cannabis/24/02/37180477/cannabis-operators-are-not-risk-takers-living-on-the-edge-most-are-compliant-says-marijuana-lawy" target="_blank" rel="noreferrer noopener">thorough market understanding</a> and strategic partnerships.
<h3 class="wp-block-heading">Legal Structures And Tax Considerations</h3>
The panel also touched on the intricacies of navigating legal structures and tax burdens, particularly the <a href="https://www.benzinga.com/markets/cannabis/24/03/37828077/irs-clarifies-cash-reporting-for-marijuana-businesses-reveals-no-automatic-suspicious-activity" target="_blank" rel="noreferrer noopener">impact of IRS code 280E on cannabis operations</a>. &#8220;Exploring ancillary structures and <a href="https://www.benzinga.com/markets/cannabis/24/02/37407170/exclusive-how-cannabis-companies-can-pay-zero-taxes-the-industrys-best-kept-secret" target="_blank" rel="noreferrer noopener">ESOPs (Employee Stock Ownership Plan) as exit strategies</a> can offer avenues for relief, but require meticulous planning and execution,&#8221; Furman stated, highlighting a critical balance between strategic diversification and operational feasibility.
While the paths to diversification vary, a common understanding emerged: strategic diversity, grounded in a deep understanding of the market and one&#8217;s core competencies, is essential for a successful operation. 
Don&#8217;t miss tomorrow&#8217;s <a href="https://www.benzinga.com/events/cannabis-conference/agenda" target="_blank" rel="noreferrer noopener">conference agenda</a> for more pivotal insights into the future of cannabis!

Cannabis

Events

Exclusives

HITI

Top Cannabis Diversification Secrets: Industry Leaders Reveal Strategies For Success At Benzinga Conference

PXMD

PaxMedica shares are trading higher after the company received an emergency request form the Ministry of Health of Malawi, asking for emergency access to IV suramin.

Xcel Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XELB#NASDAQ">XELB</a>) reported quarterly losses of $(0.24) per share which beat the analyst consensus estimate of $(0.25) by 4 percent. This is a 25 percent increase over losses of $(0.32) per share from the same period last year. The company reported quarterly sales of $2.29 million which missed the analyst consensus estimate of $2.46 million by 7.03 percent. This is a 43.75 percent decrease over sales of $4.07 million the same period last year.

Earnings Misses

XELB

Xcel Brands Q4 EPS $(0.24) Beats $(0.25) Estimate, Sales $2.29M Miss $2.46M Estimate

Imugene Limited (AU:IMU) has released an update. Imugene Limited, a clinical stage immuno-oncology company, has just secured a significant patent g...

Imugene Secures Crucial CF33 Patent in China

Imugene Limited (AU:IMU) has released an update. Imugene Limited has presented positive data at the AACR Annual Meeting, showing its oncolytic viro...

Imugene's Breakthroughs Offer Cancer Treatment Hope

Imugene Limited (AU:IMU) has released an update. Imugene Limited has commenced enrolment for an expansion study targeting bile tract cancer after p...

Imugene Advances Promising Cancer Therapy Trial

Imugene Limited (AU:IMU) has released an update. Imugene Limited has announced the cessation of 5 million options and over 2.1 million performance ...

Imugene Limited Announces Securities Cessation

Imugene Limited (AU:IMU) has released an update. Imugene Limited has announced the issuance of 2,878,496 restricted stock units under its employee ...

Imugene Limited Issues New Employee Incentives

Imugene Limited (AU:IMU) has released an update. Imugene Limited has entered into a strategic partnership with Kincell Bio, involving the sale of i...

-

-

-

-

-

-

-

25% Off Benzinga's Most Powerful Trading Tools

-

-

-

-

-

-

-

Latest News for Imugene Stock (OTC:IUGNF)