Simple Concepts Research Group

Stock Market News: Waitr Holdings, PalTalk and ViacomCBS

by | Oct 18, 2021 | Insights, Stock Picks

Key Stock Market News Amongst Companies Worth Watching

Welcome to our weekly recap of stock market news for cheap companies that are worth keeping an eye on. Many of the companies covered here are currently in our public Portfolio which can be found here or a part of our free stock database which can be accessed here.

We Discuss News on the Following Companies

Thryv Reports Usage Up 260% as Small Businesses Adopt Cloud Technology

Thryv Holdings, Inc. (THRY), the provider of Thryv software, the leading end-to-end customer experience platform built for growing small businesses, reports that it has seen a dramatic and sustained acceleration in how small businesses are adopting and engaging with its technology. In fact, small business usage of various in-app features has grown as much as +260% throughout 2021.

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ViacomCBS Enters Strategic NFT Partnership with RECUR

ViacomCBS (VIACA, VIAC) announced a strategic partnership with leading non-fungible token (NFT) company RECUR to create a fan-focused platform that will bring the company’s iconic IP and cherished franchises that transcend generations to the space. Through this agreement, ViacomCBS and RECUR will create a unified environment where fans can buy, collect and trade NFTs as digital products and collectables across ViacomCBS’ leading portfolio of consumer brands, including BET, CBS, Comedy Central, MTV, Nickelodeon, Paramount Pictures and Showtime Networks Inc.

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NCTS Selects Hughes JUPITER System to Deliver Satellite Broadband Connectivity in Egypt

Hughes Network Systems, LLC (HUGHES), an innovator in satellite and multi-transport technologies and networks for 50 years, today announced that the National Company for Telecommunications Services (NCTS) has selected the Hughes JUPITER™ System to deliver the ground segment requirements for operation of the Ka-band TIBA-1 satellite. The deployment of the Egyptian government-owned TIBA-1 satellite is a major milestone in the country’s mission to connect the unconnected; the Hughes JUPITER System will enable delivery of Internet and telecom services to millions of people in remote and rural areas of the country.

(EchoStar (SATS) is a pioneer in secure communications technologies through its Hughes Network Systems and EchoStar Satellite Services business segments.)

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Paltalk Announces Pricing of $10.125 Million Underwritten Public Offering of Common Stock

Paltalk, Inc. (PALT), a leading communications software innovator that powers multimedia social applications, today announced the pricing of its previously announced underwritten public offering of 1,350,000 shares of its common stock. Each share of common stock was sold at a public offering price of $7.50, for gross proceeds of approximately $10.125 million, before deducting underwriting discounts and offering expenses. In addition, Paltalk has granted the underwriters a 45-day option to purchase up to an additional 202,500 shares of common stock to cover over-allotments at the public offering price, less the underwriting discount. All of the shares of common stock were offered by the Company. The offering is expected to close on October 19, 2021, subject to customary closing conditions.

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Waitr’s stock rockets on heavy volume after Morgan Stanley discloses more than 10% stake

Shares of Waitr Holdings Inc. WTRH, +37.86% shot up 45.4% on massive volume in afternoon trading Wednesday, to bounce off a 19-month closing low in the previous session, after Morgan Stanley disclosed a 10.3% stake in the company. 

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We hope you enjoyed our weekly recap of stock market news. Be sure to add these companies to your Watch List and if you haven’t done so already, check in on the performance of our Current Portfolio. Keep it simple and always do your due diligence.

This material is provided for informational purposes only and is not financial advice. The information contained herein should not solely be used for the formation of an investment decision, whether you are a long term or short term investor.