LSDI Stock: Will Lucy Scientific Discovery (NASDAQ:LSDI) Come Back?
Listing of a stock on a major exchange is often seen as a positive by investors but it may not always go to plan for the companies involved and that is what happened with the Lucy Scientific Discovery (NASDAQ:LSDI) or LSDI stock on Thursday.
The company, which is involved in the contract manufacturing of compounds meant for psychotropic and psychedelic therapies, was listed on the NASDAQ on Thursday. The stock performed poorly and slid by as much as 25% on the first day of trading.
Lucy Scientific Discovery
Company Name: Lucy Scientific Discovery
Ticker: LSDI
Exchange: NASDAQ
Website: https://www.lucyscientific.com
Lucy Scientific Discovery Summary:
Lucy Scientific Discovery Inc. researches develop, manufactures, and commercializes psychedelic products. It offers biological raw materials, crude extracts, psychotropic compounds, and active pharmaceutical ingredients (APIs). Lucy Scientific Discovery Inc. was formerly known as Hollyweed North Cannabis, Inc. The company was incorporated in 2017 and is based in Victoria, Canada.
Here are the top 3 catalysts for LSDI stock.
#1 LSDI Stock Falls In Debut Trading
The initial public offering made by the company on NASDAQ was worth as much as $7.5 million. LSDI stock opened trading at $4 a share but eventually slumped to $2.89 each before ending the day at $2.99 a share.
The company offered as many as 1.87 million shares in the initial public offering for $4 each. The underwriters for the offering had also been provided with a 45-day option for picking up, more shares in the company.
#2 Downsized IPO again
The sole book runner for the company is WestPark. In light of the poor performance on listing day, it is perhaps important for investors to keep in mind that back in December last year, the company had actually reduced the size of its IPO for LSDI stock.
Initially, the size of the IPO had been supposed to be $10 million but Lucy had decided to reduce it to $8 million.
#3 Moderate Industry Growth
While the performance on the listing day may come as a dampener for the company, its shareholders, and potential investors, it ought to be noted that Lucy is involved in an industry that is geared for growth.
As per research conducted by Future Market Insights, the psychotropic drugs market is expected to grow at a rate of 6% CAGR over the course of the period between 2022 and 2032. There is significant awareness now with regard to mental health conditions and the introduction of safe psychotropic treatments could well be the way forward in the coming years.
LSDI stock could be on your watchlist this month it is trading in the oversold zone.
Disclaimer
Small Cap Exclusive is owned and operated by King Tide Media, LLC, which is a US based corporation & has been compensated $350,000 from Lucy Scientific Discovery Inc. for profiling LSDI. We own ZERO shares in LSDI. Full Disclaimer
Therma Bright Inc (TSXV:THRM) (OTCQB:TBRIF) Signs The Exclusive Worldwide Licensing Rights To Market And Sell Ai4lyf’s Digital Cough Technology (Dct)
The medical devices industry has grown at a decent clip over the course of the past years and one of the companies which could be worth looking into at this point is Therma Bright Inc (TSXV:THRM) (OTCQB:TBRIF). The company is currently best known for having developed the smart-enabled AcuVid COVID-19 Rapid Antigen Saliva Test but it has been working on other devices as well.
This morning the company has come into the news cycle after it announced that it had inked the exclusive global licensing rights to sell and market AI4LYF’s Digital Cough Technology (DCT). It was another major development for the company and one that is expected to bring Therma Bright onto the radars of investors.
The most important thing to point out with regard to DCT is the fact that the technology can help in detecting a range of respiratory diseases instantly and that includes COVID-19. The technology is deployed through a smartphone application and it can work anywhere at any time.
More importantly, the exclusive license is particularly important for Therma Bright. That would allow the company to work on the development of DCT solutions for detecting other diseases like bronchiolitis, asthma, and pneumonia among others.
It goes without saying that the latest development could well be a significant one for Therma Bright and investors could consider keeping an eye on the stock. Back in November 2022, it had been announced that the patent-pending DCT solutions was a revolutionary technology, powered by an artificial intelligence engine, which could change the way respiratory diseases were detected.
For instance, the app can come up with a result for the COVID-19 test within a minute and more importantly, it has managed to clock an accuracy rate of as much as 94%.
Small Cap Exclusive is owned and operated by King Tide Media, which is a US based corporation has been compensated $60,000 from Therma Bright Inc for profiling TBRIF for 30 days starting Feb 21 2023. We own ZERO shares in TBRIF.
Lordstown Motors: RIDE Stock Gains Momentum: But Why?
Electric vehicle manufacturing company Lordstown Motors Corp (NASDAQ:RIDE) is one of the companies to have come into sharp focus among investors in recent days and that can be gauged from the price action in the RIDE stock.
Over the course of the past week, the stock has managed to clock gains of 18% and that took the gains over the past month to as much as 25%. While it is currently trading above its key averages, it should not be forgotten that it is still down by 45% in the past six months.
Lordstown Motors Corp
Company Name: Lordstown Motors Corp
Ticker: RIDE
Exchange: NASDAQ
Website: https://www.lordstownmotors.com
Lordstown Motors Corp Summary:
Lordstown Motors Corp. develops, manufactures, and sells Endurance, an electric full-size pickup truck for fleet customers. The company was founded in 2019 and is based in Lordstown, Ohio.
Let’s take a look at the company’s recent news and developments of RIDE stock:-
#1 Expects Slow Rate Of Production in 1Q
The company had actually been in the news in recent times and came up with a key update back on January 4, 2023. At the time it announced that the rate of production in the first quarter was going to be slow owing to supply chain issues.
The company sent in a filing to the United States Securities and Exchange Commission in which it noted that the main supply chain problem was related to hub motor components availability. It was in the third quarter of 2022 that the company started the production of its Endurance pickup truck.
RIDE stock reacted positively after the news.
#2 Starts Shipping First Endurance Trucks To Customers
Last, in the month of January the company was in the news once again after it announced on January 11 that it had started shipping its first batch of Endurance pickup trucks to its customers.
At the time it was also announced by Lordstown Motors that the Endurance pickup truck had been named one of the three finalists in the North American Truck of the Year event for 2023.
#3 LEVs Market Projected To See a CAGR of 9.4%
While these are significant developments, it is perhaps most important for investors to keep in mind that Lordstown Motors is involved in an industry with the potential for significant growth. The light electric vehicle market is expected to have a valuation of $122.7 billion by 2027 from only $78.5 billion in 2022.
Keep an eye on RIDE stock as it is consolidating after the recent jump.