Another day. Another record in one of the major indices. Markets seem pretty hot, but my "friend" Jerome even though we've yet to meet, disagreed with me:
"This is no longer an overheated economy," the central bank leader said in his first day of monetary policy testimony this week. "This is an economy… that is more or less back by most measures to where it was before the pandemic. And that was a strong labor market, but it was not an overheated labor market." - Jerome Powell, July 9, 2024.
Let's all hope that the elusive "soft landing" scenario comes to fruition, in which the Fed can reduce interest rates, reduce inflation, and keep the economy humming along at a strong pace. Fingers crossed!
I didn't make any bold predictions in January (maybe that was wise), but I've been closely monitoring the markets. Here are a few observations that have stood out to me so far in 2024:
The Resilience of Small Caps: Despite predictions of a challenging year, many small-cap stocks are doing well. The Russell 3000 has outperformed expectations and is up 15.49% YTD almost keeping up with the S&P 500 that's increased 17.72% (as of 1:49pm 7/10/24). This suggests to me that investors are finding value beyond the mega-cap tech stocks.
Interest Rate Stability: As many expected, the Fed has kept interest rates steady (but high) with the constant "tease" that they will lower it when convinced of inflation's trajectory. I'm of three minds as to what it all means:
The Good: I'm happy for you if you have interest-bearing accounts. The Bad: You can't be happy if you're the CFO of a company that needs to refinance debt. The Ugly: Housing is rough for everyone: you buy, you lose; you sell, you lose.
The Quiet Rise of Renewable Energy Stocks: Headlines have focused on AI and tech all year, but renewable energy stocks have been quietly gaining ground. Maybe you've noticed how hot it's been lately? Clean energy seems like a good idea.
These are my observations, but I'm curious about your perspective. What's caught your attention in the markets this year? Do you have any predictions for the rest of 2024?
As always, I'm just a phone call or email away if you want to compare "crystal balls" that attempt to see the future of the markets.
Our Family of Featured Companies Continues to Grow.
I don't believe I have ever written out what it means to be a Featured Company and how we choose them. Our goal is to work with interesting companies worthy of your valuable time and attention.
We present their facts, figures, and story; you do your homework. We do not give an opinion or recommend the purchase of their stock.
Allarity Therapeutics and Beneficient are perfect examples of market innovators that fit this model. We look forward to sharing their progress and achievements.
Allarity Therapeutics
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Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner.
Featured Companies In The News
Select B2i Digital Featured Companies in the News:
From clinical breakthroughs to industry presentations and product innovations, our Featured Companies continue making strides and helping to improve lives.
Unicycive Therapeutics* (Nasdaq: $UNCY) reported initial positive patient satisfaction findings from its pivotal clinical trial of oxylanthanum carbonate (OLC). Patients preferred OLC more than 4 to 1 over their prior phosphate binder therapy, with 98% finding OLC easy to take and 89% expressing satisfaction. These results follow the previously announced positive outcomes from the UNI-OLC-201 trial, which met safety and tolerability endpoints, with 90% of patients achieving target phosphate levels. CEO Dr. Shalabh Gupta anticipates submitting a New Drug Application in Q3 2024. Additionally, UNCY was recently included in the Russell Microcap Index, marking growing market recognition.
Kolibri Global Energy Inc. (Nasdaq: $KGEI, TSX: $KEI)reported impressive 30-day production rates from its Nickel Hill wells, with 35-1H achieving 495 BOEPD and 35-2H reaching 511 BOEPD. According to Kolibri, these results are expected to impact the next reserve report positively. The company updated its field development plan, focusing on longer lateral lengths to improve economics. Kolibri also says it plans to begin drilling three new 1.5-mile lateral wells in t4-5 weeks and revised its 2024 production guidance to 3,200-3,700 BOEPD, a 14-33% increase over 2023 Actuals. Kolibri further mentioned that it is considering initiating a share buyback program in the second half of 2024, subject to board approval and regulatory requirements.
AIM ImmunoTech (NYSE American: $AIM) released a new CEO Corner segment on July 3, 2024, featuring an update from CEO Thomas K. Equels on the Phase 1b/2 "DURIPANC" study of Ampligen and AstraZeneca's Imfinzi as a combination therapy for late-stage pancreatic cancer. The company also provided a business update, noting that recent financings have resulted in stockholders' equity of $6.9 million. This follows Equels' participation in the Virtual Investor Pitch Conference on June 17, 2024, demonstrating the company's ongoing engagement with the investment community and the advancement of its clinical programs.
Top Ships, Inc. (NYSE: $TOPS), with its modern fleet of fuel-efficient vessels, is well-positioned to meet the evolving needs of global energy transportation. The highly experienced management team, led by President and CEO Evangelos Pistiolis, continues working towards maximizing shareholder value by focusing on safe and cost-effective operations.
Sonim Technologies, Inc. (Nasdaq: $SONM) announced the availability of its new Sonim Spot™ H500 5G mobile hotspot with select carriers across Canada, marking a strategic expansion into the Canadian market. This rugged device, designed for diverse users, from consumers to mission-critical professionals, features Wi-Fi 6E and 5G technologies, connecting up to 34 devices simultaneously. Chief Commercial Officer Chuck Becher emphasized the product's durability and advanced connectivity options. The Sonim Spot H500 is now available nationwide through Bell Canada and SaskTel, both online and in select retail locations, further expanding Sonim's product offerings and market reach.
Beneficient (Nasdaq: $BENF) reported financial results for the fiscal 2024 fourth quarter and fiscal year ended March 31, 2024. The company announced that it launched new products and services during the past quarter, reduced operating costs, improved its financial position, and expanded its General Partner (GP) Solutions Program to capitalize on adjacent market growth opportunities in Fiscal 2025.
Alternus Clean Energy, Inc.* (Nasdaq: $ALCE) continues strengthening its position in the renewable energy sector with its vertically integrated business model. The company's comprehensive approach, managing all aspects from development to asset management, provides full project lifecycle control. Under the leadership of CEO Vincent Browne and a diverse global team, Alternus remains committed to advancing clean energy solutions and contributing to the ongoing energy transition.
*DISCLAIMER: B2i Digital’s CEO, David Shapiro, owns 22,000 shares of unrestricted UNCY stock and 100,000 shares of restricted ALCE stock as of July 10, 2024. This content is not intended to solicit the sale of UNCY, ALCE or any security, and it is not intended to offer any opinion on UNCY or ALCE as an investment. Conduct your own research and consult with your own professional advisors prior to making any investment decisions. See the full disclaimer at https://b2idigital.com/disclaimer.
Venture Company In The News
Digerati Technologies, Inc. (OTCQB: $DTGI), a B2i Digital Venture Company, announced that its operating subsidiary, Verve Cloud, Inc., has entered into a favored-nations agreement and partnership with Vida Global, Inc., a conversational AI technology company. Verve and Vida will collaborate to integrate Vida's AI technology with Verve's voice platform, incorporating conversational AI capabilities for various industries. This partnership aims to enhance Digerati's UCaaS offering for its existing business users and prospective customers, particularly in the SMB market. Digerati continues providing cloud services specializing in UCaaS solutions, serving nearly 4,500 active customers and approximately 50,000 business users.
So far, it's been a pretty hot summer for the markets and the weather. I hope things cool down so we can all take some much-needed summer vacations. I try to keep #whywework in mind. I've used that hashtag a few times on social media and hope it catches on, not just as a hashtag but as a way of thinking.
Enjoy your summer and spend time with the people who matter to you most.
David Shapiro Chief Executive Officer B2i Digital, Inc. 212-579-4844 (office) 917-806-4171 (cell)
B2i Digital, Inc. provides digital marketing support to the above-mentioned Featured Companies & Venture Company, the Featured Companies hosted on b2idigital.com, and the Featured Conference Companies hosted on b2idigital.com. B2i Digital has not independently verified the accuracy of the information contained herein or on b2idigital.com. The content was provided by the Companies or publicly available sources. B2I Digital, Inc. makes no warranties as to the accuracy of any information provided. No content contained herein or on b2idigital.com shall be considered investment advice, an offer to solicit the sale of any security, or be considered as an opinion as to its investment suitability—full disclaimer at https://b2idigital.com/disclaimer.
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