Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>There has been an increase of 700m shares held in HK CCASS for <a href="https://www.smartkarma.com/entities/jd-com-inc" target="_blank" data-smartkarma-citation="entities:29043:1" rel="noopener">JD.com Inc. (9618 HK)</a> on 11 April.</li>
<li>The largest part of 421.5m shares is likely the conversion of Class B to Class A shares following Richard Liu stepping down as CEO of the company.</li>
<li>The rest is unknown at this point but could be <a href="https://www.smartkarma.com/entities/prosus-nv" target="_blank" data-smartkarma-citation="entities:28104:1" rel="noopener">Prosus (PRX NA)</a> moving their shares to HK to sell-down and use the cash to buy back their own stock.</li>
</ul>


There has been an increase of 700m shares held in HK CCASS for JD.com Inc. (9618 HK) on 11 April.
The largest part of 421.5m shares is likely the conversion of Class B to Class A shares following Richard Liu stepping down as CEO of the company.
The rest is unknown at this point but could be Prosus (PRX NA) moving their shares to HK to sell-down and use the cash to buy back their own stock.


JD.com (9618 HK): CCASS Share Increase Driver & Potential Prosus Selldown

Managing Partner, VRS (Valuation & Research Specialists)

VRS (Valuation & Research Specialists)

Managing Partner

Valuation & Research Specialists (VRS) is a boutique financial advisor with more than 17 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Greece.

Since 2002, VRS has completed more than 200 engagements in the areas of business valuation and financial analysis for more than 100 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

Boutique Financial Advisor

Equity Bottom-Up

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<h2>WALMART INC.</h2>
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<p>Company Update</p>
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<h3>Corporate &amp; Investment Highlights</h3>
<p>Walmart Inc. offers shopping opportunities in both retail stores and through e-commerce and provides access to its other service offerings. The Company offers an assortment of merchandise and services at everyday low prices (EDLP). The Company operates through three segments: Walmart U.S., Walmart In- ternational and Sam's Club. The Walmart U.S. segment is a merchandiser of consumer products, operat- ing under the Walmart and Walmart Neighborhood Market brands, as well as walmart.com and other e- commerce brands, and it operates in the USA. The Walmart International segment includes various for- mats divided into two categories: retail and wholesale. These categories consist of various formats, includ- ing supercenters, supermarkets, hypermarkets, warehouse clubs (including Sam's Clubs) and cash &amp; car- ry, as well as e-commerce through walmart.com.mx, walmart.ca, flipkart.com and other sites. The Sam's Club segment is a membership-only warehouse club that also operates samsclub.com. (Source: Reuters)</p>
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WALMART INC.




Company Update




Corporate &amp; Investment Highlights
Walmart Inc. offers shopping opportunities in both retail stores and through e-commerce and provides access to its other service offerings. The Company offers an assortment of merchandise and services at everyday low prices (EDLP). The Company operates through three segments: Walmart U.S., Walmart In- ternational and Sam's Club. The Walmart U.S. segment is a merchandiser of consumer products, operat- ing under the Walmart and Walmart Neighborhood Market brands, as well as walmart.com and other e- commerce brands, and it operates in the USA. The Walmart International segment includes various for- mats divided into two categories: retail and wholesale. These categories consist of various formats, includ- ing supercenters, supermarkets, hypermarkets, warehouse clubs (including Sam's Clubs) and cash &amp; car- ry, as well as e-commerce through walmart.com.mx, walmart.ca, flipkart.com and other sites. The Sam's Club segment is a membership-only warehouse club that also operates samsclub.com. (Source: Reuters)














Walmart Inc - Corporate & Investment Highlights

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

<ul>
<li>Shares of <a href="https://www.smartkarma.com/entities/bigcommerce-holdings-inc" target="_blank" data-smartkarma-citation="entities:29196:1" rel="noopener">BigCommerce Holdings (BIGC US)</a>  slipped below the IPO price of <strong>$24.00</strong> per share, and at current valuation, we see limited downside risk for BigCommerce stock investors.  </li>
<li>In 2020, <a href="https://www.smartkarma.com/entities/intuit-inc" target="_blank" data-smartkarma-citation="entities:8235:1" rel="noopener">Intuit Inc (INTU US)</a>  offered to acquire BigCommerce for $1.5 billion, according to CNBC and other public sources. Both BigCommerce and Intuit didn’t provide a comment.</li>
<li>Insider selling activity has slowed down noticeably over the past three months and <a href="https://www.smartkarma.com/entities/bigcommerce-holdings-inc" target="_blank" data-smartkarma-citation="entities:29196:1" rel="noopener">BigCommerce Holdings (BIGC US)</a>  insiders sold ~$5 million worth of shares. </li>
</ul>


Shares of BigCommerce Holdings (BIGC US)  slipped below the IPO price of $24.00 per share, and at current valuation, we see limited downside risk for BigCommerce stock investors.  
In 2020, Intuit Inc (INTU US)  offered to acquire BigCommerce for $1.5 billion, according to CNBC and other public sources. Both BigCommerce and Intuit didn’t provide a comment.
Insider selling activity has slowed down noticeably over the past three months and BigCommerce Holdings (BIGC US)  insiders sold ~$5 million worth of shares. 


BigCommerce: Stock Selloff Looks Finished As Valuation Hit $1.5 Billion

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Credit

<ul><li>Walmart had a successful 2021 with continued tailwinds from the pandemic, revenue momentum from digitization, international expansion, and new ventures.</li><li>The fourth wave of the Covid-19 might also provide some near-term tailwinds to the company though the pandemic has had its fair share of disadvantages for Walmart.</li><li>Based on our credit analysis, the company merits a Credit Evaluation Score of A with a stable outlook and as per our Financial Strength Indicator, its performance is 4.53/ 5.</li></ul>

Walmart had a successful 2021 with continued tailwinds from the pandemic, revenue momentum from digitization, international expansion, and new ventures.The fourth wave of the Covid-19 might also provide some near-term tailwinds to the company though the pandemic has had its fair share of disadvantages for Walmart.Based on our credit analysis, the company merits a Credit Evaluation Score of A with a stable outlook and as per our Financial Strength Indicator, its performance is 4.53/ 5.

Walmart Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

Equity Capital Markets

<ul><li>Walmart had another successful year, with a strong fourth quarter and positive momentum heading into 2022.</li><li>The company also had another strong performance in terms of Walmart International, with significant progress in expanding the global footprint of the world’s largest retailed.</li><li>In the United States, they continued to gain market share in food and consumables, with positive comparable transactions.</li></ul>

Walmart had another successful year, with a strong fourth quarter and positive momentum heading into 2022.The company also had another strong performance in terms of Walmart International, with significant progress in expanding the global footprint of the world’s largest retailed.In the United States, they continued to gain market share in food and consumables, with positive comparable transactions.

Walmart Inc.: Financial & Price Forecasts

United States

Walmart Inc. operates discount stores, supercenters, and neighborhood markets. The Company offers merchandise such as apparel, house wares, small appliances, electronics, musical instruments, books, home improvement, shoes, jewelry, toddler, games, household essentials, pets, pharmaceutical products, party supplies, and automotive tools. Walmart serves customers worldwide.

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Walmart (WMT US)

Walmart Inc - Corporate & Investment Highlights

WALMART INC. Company Update Corporate & Investment Highlights Walmart Inc. offers shopping opportunities in both retail stores and...

VRS (Valuation & Research Specialists)

BigCommerce: Stock Selloff Looks Finished As Valuation Hit $1.5 Billion

Our analysis suggests risk/reward for BigCommerce shares looks strong, and downside potential may be limited as BigCommerce stock is undervalued...

Andrei Zakharov

Walmart Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

Walmart had a successful 2021 with continued tailwinds from the pandemic, revenue momentum from digitization, international expansion, and new...

Baptista Research

Walmart Inc.: Financial & Price Forecasts

Walmart had another successful year, with a strong fourth quarter and positive momentum heading into 2022. The company also had another strong...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

JD.com (9618 HK): CCASS Share Increase Driver & Potential Prosus Selldown

There has been a big increase in JD.com (9618 HK) CCASS shares. A large part should be a conversion of Class B to Class A shares. The missing piece...

Brian Freitas

Walmart Inc - Corporate & Investment Highlights

WALMART INC. Company Update Corporate & Investment Highlights Walmart Inc. offers shopping opportunities in both retail stores and...

VRS (Valuation & Research Specialists)

BigCommerce: Stock Selloff Looks Finished As Valuation Hit $1.5 Billion

Our analysis suggests risk/reward for BigCommerce shares looks strong, and downside potential may be limited as BigCommerce stock is undervalued...

Andrei Zakharov

Walmart Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

Walmart had a successful 2021 with continued tailwinds from the pandemic, revenue momentum from digitization, international expansion, and new...

Baptista Research

Walmart Inc.: Financial & Price Forecasts

Walmart had another successful year, with a strong fourth quarter and positive momentum heading into 2022. The company also had another strong...

Baptista Research