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M1 Finance closes $45M Series C mere months after it raised its $33M Series B

M1 Finance closes $45M Series C mere months after it raised its $33M Series B

Just months after it announced a $33 million Series B, Chicago-based M1 Finance today disclosed a $45 Series C.

The new financing event was led by Left Lane Capital, the same investor that led M1’s Series B. Bear in mind that so-called inside rounds are now a bullish sign in 2020, as opposed to in prior VC eras when they were viewed more cooly. Other M1 investors include Jump Capital, Clocktower Technology Ventures and Chicago Ventures, though only the first two appear to have taken part in this round.

Per M1, the Series C comes just 120 days after it raised a Series B. A good question is why M1 has raised more capital, and why Left Lane Capital wanted to lead two rounds for the consumer-focused fintech provider. Going back to our prior coverage, we can figure it out.

In February, we reported that M1 Finance had reached the $1 billion assets under management mark, or AUM.

The startup combines three different traditional fintech services into one (roboadvising, neobanking and lending), allowing it to price the package aggressively. The model appears to be working. When M1 raised its Series B a few months later in June, it had reached the $1.45 billion AUM, or about 45% growth in just over a quarter. That’s very good.

Today, the company announced that it has surpassed the $2 billion AUM mark, up more than 38% in the last four months.

M1 posted slower AUM growth in percentage terms and greater growth in raw AUM over a similar time frame heading into its Series C. But regardless of that nuance, the company’s AUM grew quickly.

That fact helps explain its new round. If you were Left Lane Capital, had just led a round into the company, and then watched it keep growing rapidly,

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A global strategy chief shares 3 ways investors can navigate increased stock-market volatility in the coming months

A global strategy chief shares 3 ways investors can navigate increased stock-market volatility in the coming months

trader Gregory Rowe
NYSE trader Gregory Rowe works on the floor of the New York Stock Exchange at the end of the trading day.


  • Willem Sels, HSBC Private Banking global chief market strategist, expects volatility to pick up in the next few months due to the US election and a renewed uptick of COVID-19 cases. 
  • In a Tuesday email he shared three strategies for how investors can manage the stock market volatility ahead. 
  • One of his strategies is to avoid the lure of low-quality stocks just because they’re cheap.  Instead, Sels said to seek out companies with strong balance sheets and long-term growth potential.

The upcoming US election and an uptick in cases of COVID-19 are leading to increased volatility and causing some investors to step back. Willem Sels, HSBC Private Banking global chief market strategist, expects volatility to pick up in the next few months, but said investors should remain in the market. In a Tuesday email he shared three strategies for investors to manage what’s ahead. 

1. Focus on quality assets

“What the September correction has shown is that, when valuations are high, it is unwise to go into lower quality assets just because they are cheaper,” Sels said. Investors should seek out companies with strong balance sheets as COVID-19 will continue to weigh on cash flows for longer than expected. For long-term growth, Sels is watching companies related to climate change, health technology, 5G, and the online economy.

2. Look for areas with promising growth

Sels also said he’s looking for areas with “promising growth” in the short and long term. “The US economic outlook currently looks better than in Europe, and data in China and Korea is more positive than in other EM countries,” he added.

Read more: US Investing Championship contender Trent McGraw hauled

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Overnight Health Care: Regeneron asks for emergency authorization of coronavirus treatment Trump received | McConnell says he hasn’t visited White House in two months due to coronavirus

Overnight Health Care: Regeneron asks for emergency authorization of coronavirus treatment Trump received | McConnell says he hasn’t visited White House in two months due to coronavirus

Welcome to Thursday’s Overnight Health Care.



Donald Trump wearing a suit and tie: Overnight Health Care: Regeneron asks for emergency authorization of coronavirus treatment Trump received | McConnell says he hasn't visited White House in two months due to coronavirus | Employer-sponsored health insurance premiums rise 4 percent


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Overnight Health Care: Regeneron asks for emergency authorization of coronavirus treatment Trump received | McConnell says he hasn’t visited White House in two months due to coronavirus | Employer-sponsored health insurance premiums rise 4 percent

Regeneron filed for emergency authorization of its antibody COVID-19 treatment drug, just hours after President Trump claimed it basically cured him. Mitch McConnell hasn’t been to the White House in months, and a new analysis shows Americans’ job-based health care is continually getting more expensive.

We’ll start with Regeneron:

Regeneron asks for emergency authorization of coronavirus treatment Trump received

Biotech company Regeneron late Wednesday applied for emergency authorization for an experimental antibody treatment praised by President Trump.

“Subsequent to our discussions with regulatory authorities, we have submitted a request to the U.S. Food and Drug Administration for an Emergency Use Authorization (EUA) for our REGN-COV2 investigational antibody combination for COVID-19,” the company said in a news release.

The move came just hours after the president praised the efficacy of the treatment in a short video message posted on Twitter.

“They gave me Regeneron, it’s called Regeneron,” Trump said in the five-minute video Wednesday afternoon. “It was unbelievable. I felt good immediately. I felt as good three days ago as I do now.”

Why it matters: Trump was taking several drugs for his illness, so it’s not clear which helped him feel better. He claimed he has the “emergency use authorization all set,” but the FDA is supposed to make decisions based on science and not demands from the president. Regeneron’s drug is still undergoing clinical trials, and while early results seem promising, the company has not released data to back up its claims.

Read more here.

McConnell says he hasn’t visited White

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Dycom (DY) Rises 104% in 6 Months: Will the Rally Continue?

Dycom (DY) Rises 104% in 6 Months: Will the Rally Continue?

Dycom Industries Inc. DY has been riding high on strong prospects in the telecommunication business, continuous contract wins and solid backlog. Earnings estimates for fiscal 2021 and 2022 have moved 6.4% and 0.9% north in the past 30 days, depicting bullish analysts’ sentiments.

Shares of this specialty contracting firm have rallied 104.1% over the past six months, outperforming the Zacks Building Products – Heavy Construction industry’s 26.9% growth.

This Zacks Rank #1 (Strong Buy) stock has also outperformed the Zacks Construction sector and S&P 500 Index’s 47.7% and 22.9% rally, respectively, in the said time frame. You can see the complete list of today’s Zacks #1 Rank stocks here.

 

Factors Narrating Dycom’s Growth Story

Strong Prospects in Telecommunication Business: Accounting for 90.8% of contract revenues, Dycom’s Telecommunication business primarily benefits from increased demand for network bandwidth and mobile broadband, given the proliferation of smart phones. As telecommunication networks face increased demand, customers need to expand the capacity and improve the performance of existing networks and in certain instances, deploy new networks. Presently, a number of major industry participants are deploying significant wireline networks to offer bandwidth-enabling 1-gigabit speeds, thereby creating significant opportunities for Dycom.

In the last few quarters, the company’s top line benefited immensely from extensive deployment of 1-gigabit wireline networks by major customers. Dycom remains optimistic about the strengthening industry environment, given strong end-market drivers. Although the recent market trend is a concern, telecommunication networks that are a crucial infrastructure for the country will gain momentum as the effects of the pandemic phase out.

Solid Backlog: Dycom continues to register a stable 12-month backlog despite a challenging economic backdrop. This indicates persistent growth through the next calendar year. The company recorded backlog of $6.441 billion at the end of second-quarter fiscal 2021, almost in line sequentially. Of

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Hold Dish Network Stock For 6 Months To Beat The Market

Hold Dish Network Stock For 6 Months To Beat The Market

Dish Network stock (NASDAQ: DISH) dropped 14% in the last one month to $28 currently. The decline was in line with the sell-off in the technology and cable industry over recent weeks. But will the company’s stock continue its downward trajectory over the coming weeks, or is a recovery in the stock imminent?

According to the Trefis Machine Learning Engine, which identifies trends in the company’s stock price data for the last 20 years, returns for Dish Network stock average 1.5% in the next one-month (21 trading days) period after experiencing a 14% drop over the previous month (21 trading days). Notably, though, the stock is very likely to outperform the S&P500 over the next month (21 trading days), with an expected excess return of 0.6% compared to the S&P500.

But how would these numbers change if you are interested in holding Dish Network stock for a shorter or a longer time period? You can test the answer and many other combinations on the Trefis Machine Learning Engine to test Dish Network stock chances of a rise after a fall. You can test the chance of recovery over different time intervals of a quarter, month, or even just 1 day!

MACHINE LEARNING ENGINE – try it yourself:

IF DISH stock moved by -5% over 5 trading days, THEN over the next 21 trading days, DISH stock moves an average of 1.3 percent, which implies an excess return of 1 percent compared to the S&P500.

More importantly, there is 55.5% probability of a positive return over the next 21 trading days and 53.4% probability

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