& Monument Traders Alliance
Good day, 360!
Here are some of our top movers today. If you missed Jason’s interview with legendary trader, Nate Bear, you can see that here – learn or thing… or ten! Be the best prepared trader on the Street!
FOCUS LIST🔎
AREN- Up over 200% in the pre-market after reporting first ever profitable quarter
BENF- Up over 80% in pre after reporting better than expected earnings
SYTA – Up over 15% in pre after reporting 218% revenue increase
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HOTLIST🔥
AREN- Up over 200% in the pre-market after reporting first ever profitable quarter
The Arena Group Holdings Inc. (AREN) together with its subsidiaries, operates digital media platform in the United States and internationally.
In the after-hours yesterday, the company announced financial results for the three and nine months ending September 30, 2024 (Q3 2024),
Highlights Include:
Q3 2024 revenue from continuing operations was $33.6 million, compared to $37.0 million from continuing operations in Q3 2023.
Net income was $4.0 million, or $0.11 in diluted earnings per share for Q3 2024, compared to a net loss of $11.2 million, or $0.47 in diluted loss per share for Q3 2023.
Total operating expenses from continuing operations for Q3 2024 were $8.9 million, less than half the $18.4 million spent in Q3 2023 from continuing operations.
Adjusted EBITDA for Q3 2024 was $11.2 million compared to Adjusted EBITDA of $3.1 million for Q3 2023.
Arena closed a deal to license a copy of its proprietary content management system. This deal also included Arena acquiring multiple sites, including the top-tier automotive website, Autoblog.
Arena extended the maturity on its line of credit with Simplify Inventions, LLC and converted $15 million of debt to common equity.
Shares of AREN traded up over 200% in the pre-market in reaction to the reported earnings.
The first target for bulls is the pre-market high at $2.36. Beyond that, $2.80, $3.30 and $3.90 come into play.
Below $2.36, targets to the downside are $2, $1.80, $1.60, $1.53, $1.38, $1, $0.75and then a gap fill at $0.57.
BENF- Up over 80% in pre after reporting better than expected earnings
Beneficient (BENF) is a technology-enabled financial services company that provides liquidity solutions and related trustee, custody and trust administrative services to participants in the alternative asset industry in the United States.
In the after-hours yesterday, the company reported its financial results for the fiscal 2025 second quarter, which ended September 30, 2024.
Highlights Include:
Reported investments with a fair value of $335.0 million, increased from $329.1 million at the end of our prior fiscal year, served as collateral for Ben Liquidity’s net loan portfolio of $260.7 million and $256.2 million, respectively.
Revenues increased to $8.6 million in the second quarter of fiscal 2025 as compared to $(42.8) million in the same quarter of fiscal 2024. On a year-to-date basis, revenues for fiscal 2025 were $18.6 million as compared to $(45.5) million for fiscal 2024.
Excluding the non-cash goodwill impairment in each period, operating expenses declined 31.9% to $22.0 million in the second quarter of fiscal 2025 as compared to $32.3 million in the same period of fiscal 2024.
Shares of BENF traded up over 80% in the pre-market in reaction to the news
The $1.88 area acted as support in the pre-market and will be an important level to watch. Above it, targets to the upside are $2.20, $2.40, $2.50, $2.70, and then the pre-market high at $3.12.
Below $1.88, targets to the downside are $1.70, $1.55, $1.40 and then a gap fill at $1.25.
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SYTA – Up over 15% in pre after reporting 218% revenue increase
Siyata Mobile Inc. (SYTA) is a global developer and vendor of Push-to-Talk over Cellular (PoC) handsets and accessories.
In the after-hours yesterday, the company announced its financial results for the three months ended September 30, 2024.
Highlights Include:
Revenues were $5.9 million compared to $1.8 million for the three months ended September 30, 2023.
Gross margin of $1.7 million, or 29.0% of revenue, compared to $0.5 million, or 26.6% of revenue, in the same period last year
Net loss was $0.6 million as compared to a net loss of $1.9 million in the same period last year.
Shares of SYTA traded up over 218% in the pre-market in reaction to the news.
The $1.42 area acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $1.60, $1.70 and then the after-hours high at $1.79. Beyond that, $2.09 and $2.88 come into play.
Below $1.42, targets to the downside are $1.30, a gap fill at $1.28 and then $1.10 below that.
MARKET NEWS 📰
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