Author: Shushwi Shekhar

Digital World Acquisition Corp. (NASDAQ: DWAC) stock rose after the company announced that it had filed a registration statement on Form S-4 with the SEC in connection with DWAC’s proposed business combination with Trump Media & Technology Group Corp. (TMTG). DWAC was trading at $44.7 at the time of writing, up 6.5%. The stock is now down roughly 74% from its highs. DWAC and TMTG signed a definitive merger agreement on October 20, 2021, and today’s filing is a significant step toward completing their de-SPAC. The deal is expected to be completed in the second half of 2022. The transaction…

Spirit Airlines, Inc. (NYSE: SAVE) stock jumped more than 15% in premarket trading after JetBlue Airways Corp. launched a hostile takeover bid. The move comes just days after Spirit reiterated its support for the merger with Frontier Group Holdings Inc., citing JetBlue’s $33-per-share cash bid in April as insufficient. JetBlue has now launched a “fully financed” tender offer to purchase all outstanding Spirit shares for $30 each, a 76.7% premium to Friday’s closing price of $16.98. It is directly appealing to Spirit’s shareholders, urging them to vote against the Frontier transaction. Frontier has offered $21.66 in cash and stock for…

Wix.com Ltd. (NASDAQ: WIX) stock fell after missing analyst expectations. The web development platform reported a loss of $0.72 per share in the first quarter of March 2022 on revenue of $342 million. The consensus estimate was a loss of $0.65 per share on $340.1 million in revenue. WIX stock was down 10% to $64.01 at the time of writing. Financial Highlights Q1’22 total revenue of $342 million, up 14% y/y and representing a two-year CAGR of 27%.Q1’22 total bookings of $393 million, up 12% y/y and representing a two-year CAGR of 26%.Continued execution of long-term strategy illustrated by increased…

Hibbett, Inc. (NASDAQ: HIBB) stock rose after the athletic fashion retailer announced its fiscal 2023 first-quarter earnings date and webcast information. HIBB was trading at $45.34 at the time of writing, up 2.5%. Hibbett has a $587.31 million market capitalization and a 52-week price range of $40.30 – $101.65. Hibbett intends to release its first-quarter fiscal 2023 earnings report before the market opens on May 27, 2022, followed by a live, interactive webcast at 10:00 a.m. ET that same day. Hibbett’s quarterly earnings review webcast will be available at https://investors.hibbett.com/ under the News & Events section. Analysts Expectation EPS – $3.45 Revenue – $431.2…

indie Semiconductor, Inc. (NASDAQ: INDI) stock soared after the company’s FY22 Q1 revenue exceeded expectations. INDI was trading at $6.10 at the time of writing, representing a 16% gain. indie Semiconductor reported a loss of $0.11 per share in the first quarter of March 2022 on revenue of $22.0 million. The consensus estimate was a loss of $0.11 per share on $21.6 million in revenue. The company expects revenue of $25.00 million to $26.00 million in the second quarter. The current consensus revenue estimate for the quarter ending June 30, 2022, is $25.38 million. Financial Highlights Delivers 171% Year-over-Year and…

Rumble Inc. and CF Acquisition Corp. VI (NASDAQ: CFVI) announced today that CFVI had filed Form S-4 for the proposed business combination. Today, the form filed with the SEC includes Rumble’s full-year financial performance for 2021. Rumble’s user base reached a new high in the first quarter of 2022, with an average of 41 million monthly active users (“MAUs”), a 22% increase over the fourth quarter of 2021. Rumble’s current strategy is focused on maintaining its significant growth in users and user engagement and developing tools to enable future monetization of this consumption. The platform received an average of 6,158…

Update: Elon Musk says, he’s still committed to acquisition. https://twitter.com/elonmusk/status/1525080945274998785?s=20&t=2qJvyehef7MPLQ8BH1LJdQ The stock of Twitter, Inc. (NYSE: TWTR) fell after Tesla CEO Elon Musk stated that the Twitter deal was “temporarily on hold.” Twitter fell 17% in pre-market trading after Musk tweeted that the deal was suspended pending more information on the company’s claims that fake accounts accounted for less than 5% of its users. https://twitter.com/elonmusk/status/1525049369552048129?s=20&t=Ow4oF3GIBVnGskQ0NywIMA In a previous filing, Twitter stated that “the average of false or spam accounts during the first quarter of 2022 represented less than 5% of our monthly daily active users during the quarter.” The announcement…

Dutch Bros Inc. (NYSE: BROS) stock continues to fall after the coffee chain cut its adjusted Ebitda forecast for 2022. BROS stock was down 36% to $21.53 at the time of writing. On revenue of $152.2 million, Dutch Bros reported breakeven results for the first quarter of 2022. The consensus earnings estimate was $0.01 per share on $144.2 million in revenue. Furthermore, it anticipates adjusted Ebitda of at least $90 million, down from its previous forecast of $115 million to $120 million, “reflecting near-term margin pressure in our company-operated shops and our decision to take modest price increases during the…

Beyond Meat, Inc. (NASDAQ: BYND) stock dropped massively after the first-quarter earnings results missed analysts’ estimates. At the time of writing, BYND stock was down 21% to $20.49. Beyond’s stock closed down 13.8% on Wednesday, ahead of the company’s earnings report. The company expects revenue of $560.0 million to $620.0 million in 2022. For the fiscal year ending December 31, 2022, the current consensus revenue estimate is $582.81 million. Reported vs. Expected EPS – -$1.58 vs. -$1.03 expected Revenue – $109.5 Million vs. $111.66 Million expected Financial Highlights Net revenues were $109.5 million, an increase of 1.2% year-over-year.Gross profit was $0.2 million,…

Except for a few green sessions, the crypto market has been mostly in the red since December of last year. Cryptocurrencies continued to fall on Thursday and are far too low to recover anytime soon. This week, cryptocurrency has been hit by two forces. Concerns that inflation will necessitate aggressive central-bank tightening have sapped the desire to hold higher-risk assets. On the other hand, TerraUSD, also known as “UST,” fell below its 1:1 peg to the dollar this week, roiling cryptocurrency markets that were already under pressure due to falling stock markets. As a result, its native token, LUNA, has…