EXELED HOLDINGS IN COM USD0.01 (OTCMKTS:ELED) Refutes Acquisition Talk

EXELED HOLDINGS IN COM USD0.01 (OTCMKTS:ELED)

EXELED HOLDINGS IN COM USD0.01 (OTCMKTS:ELED) has refuted claims that it is in discussions with a potential acquirer. Further, in a press release, the company has reiterated plans to continue operating as a standalone company. The management team has also stressed that there have been no material changes in the company’s business or long term prospects.

However, the market is buying on the rumor and shares of ELED are up over 25% in morning trading.

ExeLED Business Overview

EXELED HOLDINGS IN COM USD0.01 (OTCMKTS:ELED) is a diversified holding company focused on acquiring complementary companies with operations around LED lighting solutions. The company’s wholly owned subsidiary Energie LLC, located in Colorado, targets the multibillion-dollar North American lighting market.

To become a leading provider of advanced lighting solutions is EXELED HOLDINGS IN COM USD0.01 (OTCMKTS:ELED), core objective. The company intends to grow, innovate, and fully capture the rapidly growing lighting market opportunities. ExeLED has already sold some of its products to education and commercial enterprises. Five European manufacturers and one in Taiwan currently produce the company’s products.

“Our Advisory Team intends to provide access to the best resources to apply LED technology for our subsidiaries. We also intend to provide buying contracts with LED component manufacturers to control cost while staying at the leading edge of the technology,” ExeLED in a statement.

EXELED HOLDINGS IN COM USD0.01 (OTCMKTS:ELED) is planning to lead the LED sector that is continually expanding. The market is currently worth $29 billion and could be worth $33 billion by year-end.

Q1 Financial Results

For the first three months of the year, EXELED HOLDINGS IN COM USD0.01 (OTCMKTS:ELED) posted a net loss of (-$816,917) a drop from a net loss of (-$890,586) reported for the corresponding quarter last year. Revenues in the quarter dropped to $37,275 from highs of $98,555 reported in Q1 2016. Research and development expenses in the quarter totaled $68,604 compared to $72,991 as of Q1 2016.

Sales and marketing expenses in the first quarter totaled $999, compared to $12,715 reported in Q1 2016. EXELED HOLDINGS IN COM USD0.01 (OTCMKTS:ELED) exited the quarter with cash and cash equivalent of $53,398 compared to $5, 454 as of. last year

Prior to EXELED HOLDINGS IN COM USD0.01 (OTCMKTS:ELED) refuting claims about being acquired, the company had been dead silent in the market. However, the stock continues to elicit renewed interest from investors in the wake of acquisition talk. The fact that company was able to deliver outstanding returns without any evidence to collaborate the same also appears to be fuelling interest from traders.

EXELED HOLDINGS IN COM USD0.01 (OTCMKTS:ELED) stock was down by 5.95% in Friday’s trading session ending the week at $0.00790 a share.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Greengro Technologies Inc. (OTCMKTS:GRNH) Forms Joint Venture

Greengro Technologies Inc. (OTCMKTS:GRNH)

Greengro Technologies Inc. (OTCMKTS:GRNH) has signed an agreement for the formation of a joint venture with Maqsood Rehman, a renowned plant geneticist. The joint venture is for the development, patenting, and licensing of various cannabis strains.

Joint Venture Formation

Greengro Technologies Inc. (OTCMKTS:GRNH)’s subsidiary, GenoBreeding will own 60% of the Joint Venture with the remaining 40% going to Mr. Rehman. The signing of the agreement comes on the heels of GenoBreeding signing an agreement for its first customer, igot420.

The Joint Venture’s business plan will rely on advanced technologies including breeding methods and genome sequencing to come up with cannabis strains.

“The Company is confident its proprietary combination and utilization of these tools, under the painstaking direction of one of the nation’s best-qualified plant geneticists, will yield valuable new strains of cannabis and push the edge of the technology to new levels of science. His team includes two master cannabis growers and a molecular genetics and data development scientist,” said Greengro Technologies Inc. (OTCMKTS:GRNH) in a statement.

GenoBreeding will patent any strains that are created as a result of the partnership. In addition to selling cannabis strains, the company also plans to license them to other companies such as igot420.

The company’s commercialization plan will target growers, producers, and dispensaries looking to develop marijuana strains. Greengro Technologies Inc. (OTCMKTS:GRNH) also plans to target biotech firms planning to conduct cannabis-related clinical research trials.

Rehman Appointment

In addition to forming a joint venture, GreenGro Technologies has appointed Dr. Rehman as the Chief Operating Officer. He joins the company with vast experience and a diverse background in working with large public and private companies in the field of genetics.

Dr. Rehman will lead Greengro Technologies Inc. (OTCMKTS:GRNH) Gala Global development team. The team is currently commercializing digital plant cloning incubators from Controlled Environment Genomics.

“We welcome Dr. Rehman as he brings with him a diverse background of working with large public and private companies in the field of genetics and the commercialization of genetically modified crops for a wide variety of uses,” said Gala Global CEO, Timothy Madden.

$4 Million Financing

Separately, the provider of eco-friendly green horticulture technologies has secured $4 million in financing. The money is to be used to build a second igot420 dispensary in Cathedral City. Greengro Technologies Inc. (OTCMKTS:GRNH) has already received $2 million of the financing with the remaining $2 million set to be drawn pending project advancement.

Greengro Technologies Inc. (OTCMKTS:GRNH) stock was up by 0.51% in Friday’s trading session to end the week at $0.0495 a share.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Dewmar International BMC Inc. (OTCMKTS:DEWM) Inks KW Brand Deal

Dewmar International BMC Inc. (OTCMKTS:DEWM)

Dewmar International BMC Inc. (OTCMKTS:DEWM) has signed a licensing agreement with KW Brands LLC as it moves to expand its footprint in the restaurant business. Under the terms of the agreement, the company is to operate the Willie’s Duck Diner restaurant – owned by Willie Robertson.

Diversification Drive

Buoyed by the licensing agreement, Mr. Robertson expects the partnership to help strengthen Duck Diner’s operations and financial health. Duck Diner has reportedly grossed more than $2 million over the past few years and Dewmar International BMC Inc. (OTCMKTS:DEWM) plans to improve on that performance.

“I am very excited for the opportunity to work with Willie on this project that is near and dear to him and his family; our goal is to expand upon their last 3 years of success to massively increase visibility, sales, and profitability while sticking with their families good Christian morals,” said Dewmar International BMC Inc. (OTCMKTS:DEWM) CEO, Dr. Marco Moran.

Willie’s Duck Diner is currently undergoing renovations as part of an effort that seeks to increase capacity. Plans are also underway to revamp its menu to give it greater mass appeal. However, the chain plans to retain the unique Louisiana Southern-style flavor in a bid to distinguish itself in the highly competitive food business.

Financial And Corporate Highlights

Separately, Dewmar International BMC Inc. (OTCMKTS:DEWM) reported financial results and corporate highlights for the past three years. The diversified operating company says its 2015 revenue totaled $3.3 billion but dropped to $630 million in 2016.

Dewmar International BMC Inc. (OTCMKTS:DEWM)’s business continues to self-fund all operations. Reinvestment of profits into new product development, acquisitions, and new business development has helped the company to continue growing while expanding into other areas of operations. The company’s asset base as of March 31, 2017, totaled $3.8 billion.

In 2014, Dewmar International BMC Inc. (OTCMKTS:DEWM) expanded into the cannabis industry with the formation of United States Hemp Corporation – a wholly owned subsidiary based in Denver. In 2015, the company engaged the services of a Colorado bakery for the manufacturing of hemp-infused baked goods.

Last Year, Dewmar International BMC Inc. (OTCMKTS:DEWM) expanded its hemp-infused baked goods portfolio by contracting the services of a bakery in Arizona.

“I’m extremely proud of the work that we have done over the past few years to eliminate all toxic funding from our balance sheet, grow the company’s revenue base by successfully expanding into new markets and reinvesting profits into the business,” said Dr. Moran.

Dewmar International BMC Inc. (OTCMKTS:DEWM) stock was up 16.67% in Friday’s trading session to end the week at $0.00770 a share.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

FalconStor Software, Inc. (NASDAQ:FALC) Names Oseth As President & CEO

FalconStor Software, Inc. (NASDAQ:FALC) 

FalconStor Software, Inc. (NASDAQ:FALC) has appointed Todd Oseth as the company’s President and Chief Executive Officer as of July 1, 2017. FalconStor Software specializes in the production of storage software. The company also announced the resignation of its former President and Chief Executive Officer Gary Quinn that will take effect on July 1, 2017.

Mr. Oseth will be tasked with delivering highly profitable business growth by directly working with the company’s partners, customers, investors, and employees in pursuing the company’s strategic objectives. Before joining FalconStor Software, Inc. (NASDAQ:FALC) Oseth worked as the President and Chief Executive Officer at Intermap Technologies where he is credited with initiating and leading a company transformation and making it one of the leading providers of geospatial solutions. Previously, he held executive positions in Ramtron, Sony, EMC, and McDATA.

In a statement, Oseth said the company has a strong foundation in data mobility and protection and it is focused on lowering the cost of storage by use of its public cloud services. Oseth said he will use his first hundred days to meet with the company’s customers and partners globally in a bid to ensure that the company meets both their current and future needs while maintaining focus on the company’s internal operations.

Martin Hale, a member of FalconStor Software, Inc. (NASDAQ:FALC)’s Board of Directors lauded Gary Quinn for his outstanding services to the company both in terms of contribution and leadership during his reign as the company’s President and Chief Executive Officer. Hale added that the company has a bright future in Todd as the new President and Chief Executive Officer of the company. He added that Todd is the right person to steer the company to a profitable path.

In the Thursday trading session, FalconStor Software, Inc. (NASDAQ:FALC) reported a +53.78% or +0.133 to trade at $0.380.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

East Hill Management Calls For liquidation Of Aviragen Therapeutics Inc. (NASDAQ:AVIR)

Aviragen Therapeutics Inc. (NASDAQ:AVIR)

Aviragen Therapeutics Inc. (NASDAQ:AVIR) should abandon all its strategic plans according to East Hill Management. The investment firm, in a filing, states that the company should wind down its business and liquidate. The sentiments come after the company posted a first-quarter net loss of (-$4.4) million.

Strategic Review Process

Following the dismal performance in the first quarter, the biopharmaceutical company confirmed it was actively involved in a strategic review process. The process seeks to evaluate a wide range of alternatives that include a business sale, merger, and/or a licensing of clinical stage programs.

“We are expeditiously working with our Board and financial advisors to consider a wide range of strategic alternatives in a process that is intended to enhance shareholder value both in the near and long term. We remain confident about the overall value proposition of Aviragen based on our fuller review of data from our clinical trials that reported topline results earlier this year, our ongoing Phase 2 study of BTA074 and our solid financial position,” said CEO Joseph Patti in a recent earnings call

Aviragen Therapeutics Inc. (NASDAQ:AVIR) is also exploring acquisitions as well as transactions that have the potential to bolster its pipeline. However, it appears that East Hill Management, a major shareholder, is not buying into the company’s restructuring push.

Q1 Financial Results

It is still unclear how the investment firm plans to generate value by winding down Aviragen Therapeutics Inc. (NASDAQ:AVIR) operations. The company is currently undertaking a Phase 2 trial of BTA074, a candidate drug for the treatment of condyloma. Vapendavir is another novel treatment that the company is working on with key opinion leaders for the treatment of Asthma.

Doubts about Aviragen Therapeutics Inc. (NASDAQ:AVIR)’s future comes on the heels of a disappointing first quarter where revenue was down to $4.9 million from $5.3 million as of Q1 2016. Aviragen attributes the drop to a decrease in Relenza royalties.

Research and development expenses dropped to $6.8 million compared to $8.5 million reported a year ago. Lower employee costs and professional fees led to a drop of General and Administrative expenses to $1.8 million from $2.3 million. Aviragen Therapeutics Inc. (NASDAQ:AVIR) ended the quarter with cash and cash equivalent of $37.6 million.

Aviragen Therapeutics Inc. (NASDAQ:AVIR) stock was up by 20.83% in Thursday’s trading session to end the day at $0.580 a share.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Hemisphere Media Group Inc. (NASDAQ:HMTV) $25 Million Repurchase Program

Hemisphere Media Group Inc. (NASDAQ:HMTV)

Hemisphere Media Group Inc. (NASDAQ:HMTV) has announced plans to repurchase $25 million worth of its Class A common stock. The repurchase program comes on the heels of a stellar Q1 where the company reported robust advertising revenue and subscriber growth.

Hemisphere’s Robust Growth

Hemisphere Media Group Inc. (NASDAQ:HMTV) continues to experience robust growth in the U.S. and Latin America markets. A 7% growth in subscribers and a 9% increase in adjusted EBITDA in the first quarter has confirmed the company’s strategic growth plan thereby justifying the repurchase program.

“We believe that our consistent strong performance, financial strength, differentiated business model and long-term growth prospects are not appropriately reflected in our current stock price. The stock repurchase program authorized by our Board of Directors underscores our commitment to creating shareholder value, while not impeding the financial flexibility to continue to invest in our business and pursue our acquisition strategy,” said CEO, Alan Sokol.

Hemisphere Media Group Inc. (NASDAQ:HMTV) has embarked on a strategic investment plan that the chief executive officer believes will translate into a significant long-term value. In addition to the REMEZCLA’s investment, Hemisphere Media Group Inc. (NASDAQ:HMTV) has also made a significant investment in Canal Uno, a joint venture in Colombia. The investments are part of an effort that seeks to strengthen the current portfolio of offerings while broadening the target audience.

Stellar Q1 Results

For the first three months of the year, the company reported net revenues of $33.2 million compared to revenues of $31 million reported in Q1 2016. Hemisphere Media Group Inc. (NASDAQ:HMTV) attributes the 7% increase to an increase in subscriber and retransmission fees, due to subscription base growth.

Hemisphere Media Group Inc. (NASDAQ:HMTV) also recorded an increase in advertising revenues helped by a growing market share in Puerto Rico as well as the success of the World Baseball Classic. An amendment to the company’s Term Loan and Strategic Investment activity resulted in a 10% increase in operating expenses that came in at $26.1 million.

Net income in the quarter grew by 9% to $14.5 million compared to $13.3 million reported in Q1 2016. Hemisphere Media Group expects its adjusted EBITDA for the year to increase by single digit percentage, driven by growth in subscriber and retransmission fees as well as advertising revenues.

Shares of Hemisphere Media Group Inc. (NASDAQ:HMTV) were up by 3.59% in Wednesday’s trading session ending the day at $11.55.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

BioDelivery Sciences International, Inc. (NASDAQ:BDSI) Continues Higher

BioDelivery Sciences International, Inc. (NASDAQ:BDSI)

BioDelivery Sciences International, Inc. (NASDAQ:BDSI) has had two days of substantial gains and seems to have triggered a sell program as shares met significant resistance at $2.85. Last Thursday, Friday, and Monday BDSI shares had a tough time breaking above $2.30 then yesterday shares moved up steadily only to meet some mild resistance at $2.60. Today shares gapped up to open at $2.75 and quickly climbed to $2.85 by mid-day but, apparently, strong selling kicked in and BDSI was unable to sustain any moves above $2.85 and closed today at $2.75. Volumes were heavy. Over 2.2 million shares of BDSI traded today or about three times their 30-day, daily average trading volume of 613,500.

BioDelivery Sciences International, Inc. (NASDAQ:BDSI)’s development strategy focuses on the utilization of the FDA’s 505(b)(2) approval process. This regulatory pathway creates the potential for more timely and efficient approval of new formulations of previously approved therapeutics.

Today, upward movement was likely helped along by the company’s announcement that it has signed an agreement with CVS/Caremark extending access to both BELBUCA® (buprenorphine) buccal film (CIII) and BUNAVAIL® (buprenorphine and naloxone) buccal film (CIII) through 2020. The agreement is important as CVS/Caremark represents a significant portion of the covered lives in the United States. BioDelivery Sciences International, Inc. (NASDAQ:BDSI) reacquired BELBUCA from Endo Pharmaceuticals in January 2017 and subsequently relaunched the product. Prescription sales for BELBUCA reached their highest point in May 2017 since the product was launched by Endo in early 2016 and continues to grow in June. Weekly sales for BELBUCA for the week ending June 9, 2017 (1,657 prescriptions) exceeded the previous peak from December 2016 for the first time according to data from Symphony Health.

Shares of BioDelivery Sciences International, Inc. (NASDAQ:BDSI) have performed well over every timeframe. In the past week, BDSI shares gained over 14%, they are up over 6% for the month, up over 48% YTD, and up over 10% for the year. Seven investment firms follow BDSI shares. Six rate them as a “Strong Buy” and one rates them as “Hold” Their consensus price target is $4.00.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Fourth Day in a Row of Gains for AirMedia Group Inc (ADR) (NASDAQ:AMCN)

AirMedia Group Inc (ADR) (NASDAQ:AMCN)

Shares of China-based AirMedia Group Inc (ADR) (NASDAQ:AMCN) are up for the fourth day in a row. Last Friday, AMCN shares established a new 52-week low and closed at $1.40 and, with 45 minutes left in today’s trading session, are hovering around $2.35. Today’s volumes have been this week’s heaviest so far. Over 3.1 million shares have traded hands and the listed 30-day, daily average volume for shares of AMCN is just 328,670.

AirMedia Group Inc (ADR) (NASDAQ:AMCN) sells advertising on its air travel advertising network. AirMedia also holds concession rights to install and operate Wi-Fi systems on trains, administered by over eight regional railway administrative bureaus in China, and on various long-haul buses in China. AirMedia has access to 71,900 airplane digital television screens on over five airlines, including Air China, China Eastern Airlines, China Southern Airlines, Shanghai Airlines and Xiamen Airlines. It also holds concession rights to operate the advertising media platforms at Sinopec gas stations across China.

While AMCN shares have gained over 27% during the past week, they have lost over 22% YTD, and are down over 50% for the year. However, interestingly, AMCN shares have been trading at a discount to their cash per share figure for some time. Financial data providers have AMCN’s cash/share value listed at $3.90. A review of historical prices shows that AMCN shares have traded over $3.50 just three times since last July. However investors should be aware that AirMedia Group Inc (ADR) (NASDAQ:AMCN) is based in China and some observers sometimes doubt the veracity of financial statements that lack a similar oversight structure as their American counterparts. Its also relevant to observe that sales have been steadily declining since 2012 when the company posted a figure over $286 million only to post a figure of $50.2 million in 2015. Similarly, earnings losses have widened over the years. In 2013, shareholders lost (-$0.48) per share and that loss expanded to (-$1.16) by 2015.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Vivint Solar Inc (NYSE:VSLR) expands into Colorado

Vivint Solar Inc (NYSE:VSLR)

Vivint Solar Inc (NYSE:VSLR), a U.S. company specializing in solar power installations, has unveiled plans to expand its business into Colorado. The company, based in Utah, has installed solar power generating systems in more than 100,000 homes since its inception in 2011. The company was formed as a forerunner of Vivint Inc which specializes in home security services.

Vivint Solar Inc (NYSE:VSLR) became a publicly traded company in 2014 and currently has a market-cap of $365.17 million. Its shares have recently been in a trading range between $2.50 and $3.70 per share.

By entering the Colorado market, Vivint Solar will compete with two other companies – SolarCity, a subsidiary of Tesla Inc. (NASDAQ:TSLA), and SunRun Inc. (NASDAQ:RUN) whose offices are located in Denver.

Vivint Solar Inc (NYSE:VSLR) CEO, David Bywater, said they are excited to enter the Colorado market as part of the company’s ongoing expansion strategy. He added that Vivint Solar is highly experienced in designing, installation, and servicing of solar power systems.

Recently, Vivint Solar Inc (NYSE:VSLR) announced securing new tax equity commitments amounting to $100 million from two of the company’s repeat clients. The commitments will allow the company to set up around 70 megawatts of solar power for residential structures.

Earlier in May, Vivint Solar Inc (NYSE:VSLR) announced reaching an agreement with Mercedes-Benz to supply the company’s residential battery together with Vivint’s solar energy systems. The company has not specified if it will be hiring additional staff to work in the new location or it will be shifting employees from other locations.

Vivint Solar Inc (NYSE:VSLR) closed the Tuesday session with a 19.54% or $0.85 to trade at $ 5.20

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $VSLR and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Fossil Group Inc. (NASDAQ:FOSL) Insider Selling And Store Closures

Fossil Group Inc. (NASDAQ:FOSL)

Shares of Fossil Group Inc. (NASDAQ:FOSL) continue to trade below $10 a share, the lowest mark since 2009 recession. A wave of negative news compounded by weakening fundamentals continues to push the stock lower as many analysts and investors remain bearish. The stock has lost more than 50% in market value over the past year.

Stock Divestitures Concerns

The trendy watchmaker finds itself in a hole after a wave of insider selling. Regulatory filings indicate that the company’s CEO, Kosta Kartsotis sold 520,000 shares of the company’s stock. The selloff follows the divestiture of 1.074 million shares late last month.

Insider selling goes a long way in fuelling investor’s skepticism as it may indicate that top management no longer believes in the company’s long-term prospects.

“In Time’s Up: 10K Concerns, we outlined our initial concern following the 10K release that the CEO pledged 3.8MM shares in February at roughly $19/share equating to $73MM. With the shares now at about $11, we estimate the pledge is in the red by $30MM,” said Macquarie analysts Laurent Vasilescu and Dan Isaacson in a research note.

Stores Closure and Smartwatch Impact

Stock divestitures is not the only thing that continues to hurt Fossil Group Inc. (NASDAQ:FOSL) sentiments among investors. Store closures continue to raise doubt about the Fossil’s ability to meet sales targets. Net sales in the first quarter dropped by 12% to $581.8 million.

Changes in consumer tastes to smart watches is an additional headwind that continues to pound the trendy watchmaker. Moody’s has downgraded the stock on concerns that weakness in the traditional watch segment could continue to hurt the company’s bottom line.

Fossil Group Inc. (NASDAQ:FOSL) has set its eyes on the wearable market in a bid to diversify its offerings and drive growth. The company is on track to launch more than 300 wearable tech SKUs this year. However, there are no guarantees that the company will be successful in the wearable market given the challenges that Fitbit Inc. (NYSE:FIT) is experiencing. Fitbit is feeling the impact of competition as big players led by Apple Inc. (NASDAQ:AAPL) continue to encroach on the sector.

Fossil Group Inc. (NASDAQ:FOSL) stock was up by 1.74% in Tuesday’s trading session to end the day at $9.38 a share.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $FOSL and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.