Daily Brief United States: Ally Financial, Zeta Markets, Enphase Energy, Waystar Holding, Oramed Pharmaceuticals , Urban-Gro , Bitcoin Pro, Sadot Group , Lands’ End Inc and more

• Ally remains confident in their ability to navigate challenges with a focus on pricing and underwriting discipline
• Ally’s strong capital position and strategic focus on digital banking position them well to benefit from potential economic recovery and rising interest rates
• Author believes Ally’s stock has significant long-term growth potential and could triple in value, with limited downside risk in the short term

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Zeta Markets, a Solana-based decentralised exchange for on-chain perpetuals, has closed a US$5 million strategic funding round led by Electric Capital, with participation from DACM, Selini Capital, and Airtree Ventures.
• Prominent angel investors also joined, including Anatoly Yakovenko of Solana, Mert Mumtaz of Helius, Richard Wu of Tensor, Marius Ciubotariu of Kamino, Stepan Simkin of Squads, Alex Smirnov of Debridge, Genia Mikhalchenko of Pyth, Nom of Bonk, and JMR Luna of Wintermute.
• This deal brings Zeta Markets’s total funding raised to date to US$13.5 million.

• Our bullish outlook (since early-November 2023) remains intact. Few things are more bullish than indexes (SPX, NDX) breaking out to all-time highs following a major correction we had in 2022
• Last week (5/21/24) we discussed how it is a very bullish sign that there have been three upside gaps in May on the S&P 500, with all gaps left unfilled.
• Important short-term gap supports we are watching on SPX include 5250-5263, 5127-5142, and 5073-5101; so far 5250-5263 support has held. Also downgrading Industrials (XLI) to market weight

• Waystar Holding, provider of mission-critical cloud software to healthcare organizations, set terms for an IPO and plans to raise ~$970M in the upcoming Nasdaq offering.
• The initial public offering is expected to be between $20.00 and $23.00. At the midpoint, Waystar Holding has a market value of ~$3.7B based on 173.4M fully diluted shares.
• In my insight, I discuss valuation framework for comparable company analysis and research multiples of M&A transactions, including Athenahealth, Cerner and Change Healthcare. 

• Having completed an analysis of data from its terminated ORA-D-013-1 Phase 3 trial, Oramed is optimistic about prospects for ORMD-0801, particularly for certain subpopulations of patients with specific parameters that match those of study participants who responded well to oral insulin.
• ORMP has initiated discussions with the FDA and plans to launch a Phase 3 oral insulin trial in the U.S. under a differentiated protocol aligned with the positive data.
• Separately, a recent licensing agreement with Genomma Lab could provide attractive royalty revenue, if Genomma can commercialize an OTC hemorrhoids treatment & other products for which ORMP had acquired the rights.

• We are reiterating our Buy rating, projections and price target for urban-gro after meeting with management at their Centennial, CO headquarters.
• After a period where the company has repositioned the business model around the commercial real estate space, urban-gro is optimistic on the prospects for a return to growth for Controlled Environment Agriculture (“CEA”), driven by the pending reclassification of cannabis by the Drug Enforcement Administration and the potential for Florida to legalize recreational cannabis in November.
• Further, management is breaking down silos between functions to be able to offer more services and register stronger overall returns.

• BTC Spot ETFs Fuel Bull Rally: ETF inflows drive Bitcoin’s rally, signaling strong bullish momentum and potential all-time highs.
• Market Structure Shift Supports BTC: Positive ETF flows correlate with Bitcoin price gains, indicating crucial market structure changes.
• ETH Spot ETF Ignites Alt Season: Unexpected ETH spot ETF approval boosts Ethereum, sparking a potential altcoin surge.

• In late 2022, the company began its evolution from a consumer-focused, U.S. restaurant business into a global, food-focused organization with two distinct business units.
• The company’s largest operating unit is Sadot Agri-Foods, which is a vertically integrated international food supply chain company engaged in trading and shipping sustainable food and commodities such as soybeans, wheat and corn.
• Sadot’s legacy restaurant business is currently in the process of being divested.

• We are reiterating our Buy rating, projections and price target for Lands’ End with the company announcing 1QFY24 (April) results before the open on Wednesday.
• We believe 1Q was another key step forward in terms of driving newness, reducing discounting and shifting the model to a focus on higher overall returns, with key categories (footwear) beginning to shift to the licensed model and international continuing to slowly turn.
• That said, with 1Q anniversarying the closing of the Delta contract, comparisons will be skewed.