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On March 17, Morgan Stanley published a report, indicating that according to the full-year performance of 2024, the earnings forecast of Haifeng International (01308.HK) was adjusted, and the earnings per share forecast for 2025 was raised by 2%, the earnings per share forecast for 2026 was raised by 6%, and the earnings per share forecast for 2027 was introduced to 19 US cents. The bank believes that further earnings revisions in the downward cycle of container shipping from 2025 to 2026 will put pressure on Haifeng Internationals valuation. Therefore, the bull market-benchmark-bear market target price-earnings ratios were adjusted from 14 times, 11 times and 7 times to 12 times, 9.5 times and 6.0 times, respectively. The baseline scenario valuation multiples are basically in line with the historical average since 2011, taking into account the potential special dividends from 2025 to 2026, while the bull market scenario valuation falls within a standard deviation range. Based on this, the bank lowered the weighted target price of Haifeng International from the previous HK$21.3 to HK$18.8, and the rating was "in line with the market".On March 17, US President Trump said he had no intention of exempting steel and aluminum tariffs, and said reciprocal tariffs and industry tariffs would be implemented on April 2. Trump told reporters on Air Force One that reciprocal tariffs on US trading partners would be implemented together with automobile tariffs.March 17th, Deutsche Bank Research is optimistic about European stocks, both from a relative and absolute perspective. The banks strategists have noted the progress of Germanys multi-billion dollar infrastructure and climate funds and increased defense spending, and expect the positive momentum in European stocks to continue. The German MDAX index, which has outperformed the U.S. stock market in the past few weeks, remains its favorite index. Strategists believe that U.S. import taxes are the main source of uncertainty in the coming weeks, and the increasing likelihood of a slowdown in the U.S. economy due to tariff increases is the main risk to the absolute upside of European stocks. While they believe that the Ukrainian ceasefire is the most unpredictable catalyst, they add that if a credible ceasefire is achieved, it will reduce the expected risks of European stocks and attract U.S. investors.On March 17, the median estimate of six economists surveyed by The Wall Street Journal showed that Malaysias export growth may accelerate in February. Exports are expected to rise 6.9% year-on-year from 0.3% in January, while imports may increase 9.6%, with a trade surplus of 9.25 billion ringgit. Kenanga IB economist Muhammad Saifuddin Sapuan said the export growth may be due to a low base last year, increased demand from major trading partners, and early shipments before the deadline for reciprocal tariffs by US President Trump.QCT Technology (01478.HK): Net profit reached 279 million yuan in 2024, a year-on-year increase of 234.1%.

Bitcoin Depot SPAC Deal Brings Crypto ATMs to Wall Street

Skylar Shaw

Aug 26, 2022 16:24

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Soon, there will be Bitcoin (BTC-USD) ATMs on Wall Street. Actually, not exactly; Bitcoin ATM stocks will soon be available on Wall Street. Even a bear market can't prevent cryptocurrency startups from going public. As part of a merger agreement, Bitcoin Depot, the first supplier of crypto ATMs, will shortly begin trading on the Nasdaq.


Regardless of market conditions or legal restrictions, crypto ATM use is booming in the United States. Regardless of technological proficiency, anybody who intends to purchase cryptocurrencies may do so with the assistance of these computers. These machines are the simplest way to invest since users may purchase Bitcoin from them without having to create a wallet or an exchange account.


Additionally, crypto ATMs are springing up everywhere as crypto businesses focus on the still largely unexplored potential of the American market. Since 2020, there have been over 34,000 cryptocurrency ATMs installed in the United States, up from 4,200. With less than 39,000 of these machines in existence worldwide, the United States controls roughly 90% of the available supply.


These devices are only another step toward the ultimate objective of making cryptocurrencies a genuinely democratic form of money, according to the crypto community. Everyone can use one since they don't need bank accounts. The most underprivileged groups may benefit financially as Bitcoin use cases become more real and useful for daily life. Regulators, on the other hand, have started to complain that they cause problems for law enforcement and support criminal interests.


Despite these defenses, the financial community regards them as a cash cow. In fact, researchers predict that this industry's worth would increase by a remarkable $2.67 billion by 2026. Additionally, North America is predicted to see the majority of this expansion.

Listing of Bitcoin Depot on Nasdaq through SPAC Agreement

Investors will want to back a leader since there is so much wealth likely to enter the market. One of these leaders is Bitcoin Depot, which operates over 7,000 ATMs in the United States and Canada. And shortly, stock traders will have the opportunity to learn more about the firm thanks to its agreement with a company that specializes in special purpose acquisitions (SPAC).


Today, GSR II Meteora (NASDAQ:GSRM) announces its plans to combine with Bitcoin Depot and IPO the company. The transaction, worth $885 million, was approved by both corporations. Through this agreement, Bitcoin Depot will trade as Bitcoin Depot Inc. on the Nasdaq Exchange. The stock's ticker symbol will be "BTM." The firm will have access to GSR's $320 million in funding, which it may utilize to expand its operations, in addition to this $885 million infusion into Bitcoin Depot. If all goes according to plan, the transaction will be completed in the first quarter of 2023.


Of course, the firms must take into account the current status of the cryptocurrency market.


According to Forbes, this month marks the first time since late 2015 that there have been more crypto ATMs removed than added. Additionally, since 2017, this year has experienced the weakest increase for ATMs. However, Bitcoin Depot claims that it is not adversely affected by the macroeconomic circumstances of the cryptocurrency market. In fact, according to CEO Brandon Mintz, the business is prospering. We're really doing very well right now, despite the market, he claims.


Despite a sharp increase in trading volume, the price of GSRM is not changing much in response to the news. This trading session has seen more than 338,000 shares traded, significantly more than the typical 50,000.

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