Only time will tell whether a startup project is good or not. However, there is a case to be made that this one can stand out from the rest. BanQu, a blockchain identity startup project, announced the end of its series A funding round, where it gathered an undisclosed amount of funds. The news of the fund-raising being over got announced on June 6th. The funds were raised by ZX Venture and will be used to help BanQu continue the development of its supply chain transparency and traceability as well as to continue its geographic expansion.
Crunchbase estimates the annual revenue of the funding company to be $22.1 billion. One thing to note is that that the funding company is also the owner of Budweiser, Corona, Leffe and Becks beer brands. This could very well mean that BanQu got the support of some very big companies.
Whether a stock is a good addition to the specific portfolio or not, can be decided only by the portfolio manager of that portfolio. However, we can take a look at some of the figures and see if we can draw some conclusions. American Equity’s (NYSE: AEL) twelve-month P/E ratio is currently at 7.22, and this figure can be compared quite favourably to both the S&P 500’s P/E ratio of 17.58 and to the finance sector’s P/E ratio of 14.09. As AEL’s P/E ratio is lower than both of the other ratios, this comparison shows us undervalued trading of AEL stock compared to its peers.
American Equity has a P/S ratio of 1.14, and this figure can help us determine the historical position of the AEL stock. When this value is compared to the stock’s value throughout history, it’s obvious that the figure is much below its all-time highs. Because of this, we can safely conclude that shares of AEL are trading at least a somewhat undervalued.
Sberbank has changed its stance from crypto-friendly to blockchain-friendly. Sberbank’s CEO has announced the institution’s decision to stay out of crypto by not creating and developing any crypto-related services, but rather focusing on only on blockchain. The announcement was posted in a local financial publication on June 7th.
Former minister of economics and trade of Russia and the current CEO of Sberbank Herman Gref said that the bank never had any plans for engaging in cryptocurrencies. He said that they will now focus on blockchain applications for its services, instead of using crypto.
International Flavors & Fragrances indeed acquired a big part of Wiberg Corporation. IFF bought the remaining 50% of the shares of Wiberg Corporation on June 3rd. Wiberg Corporation is a subsidiary of the Austrian company Wiberg GmbH. The company specialises in savoury solutions such as spices, blends and functional ingredients for the food industry.
Frutarom acquired Wiberg GmbH for $130 million in 2015 in order to expand its market leadership in savoury solutions market globally. The deal also included Wiberg’s 50% ownership share in the Wiberg Corporation.
It all depends on what is considered crypto-friendly. The country of Malaysia is acknowledging the usage of crypto and is acting accordingly by regulating new crypto operators. The Securities Commission Malaysia (SC) has registered three cryptocurrency exchanges and given them access to conducting cryptocurrency-related business on Malaysian soil. Luno Malaysia, Sinegy Technologies and Tokenize Technology got the licenses out of many who applied.
Malaysian crypto exchanges are required to register with and be approved by the SC. The recently-approved exchanges will have up to nine months to achieve full compliance with the SC’s regulation standards and guidelines.
Tailored Brands will report its financial results on June 12th, and the forecast is not looking good. The market analysts expect TLRD to deliver a big decline in earnings compared to the previous year. The analysts expect TLRD to report lower revenues as well.
Analysts are predicting Tailored Brands to post quarterly earnings of $0.15 per share, which would represent a decline of 70% when compared to the previous year’s quarter. Revenues are expected to come out at $776.23 million, which would represent a decline of 5.1% from the same quarter a year ago.