==Beneficient (BENF) : 2-year performance

•  The first day of trading for Beneficient (BENF) in 2023 was on June 7, 2023. On this day, Beneficient completed its business combination with Avalon Acquisition, Inc., and changed its name to Beneficient. 

New board chairman appointment fueled 26.29% intraday surge.

The appointment of Peter T. Cangany Jr., a seasoned financial executive and former EY partner with over 40 years in accounting and audit leadership, as chairman effective December 15, 2025, was announced on December 17. This move replaced the late Thomas O. Hicks and signaled strengthened governance amid the company's efforts to stabilize operations. Traders reacted positively in early trading on December 18, extending momentum from the prior day's 19% gain, which followed the 1-for-8 reverse stock split implemented on December 15 to regain Nasdaq compliance. Volume spiked modestly, reflecting retail interest in the leadership refresh as a step toward resolving prior compliance and reporting issues.

About Beneficient

Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to democratize the global alternative asset investment market by providing traditionally underserved investors − mid-to-high net worth individuals, small-to-midsized institutions and General Partners seeking exit options, anchor commitments and valued-added services for their funds – with solutions that could help them unlock the value in their alternative assets. Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner.

www.trustben.com

Mineralys Therapeutics (MLYS) : 2-year performance

 

Mineralys Therapeutics, Inc., a biopharmaceutical company, develops medicines to target diseases driven by dysregulated aldosterone in the United States. It is developing lorundrostat, a proprietary, orally administered, highly selective aldosterone synthase inhibitor for the treatment of cardiorenal conditions affected by dysregulated aldosterone, such as hypertension, chronic kidney disease, and obstructive sleep apnea. 

The company was formerly known as Catalys SC1, Inc. and changed its name to Mineralys Therapeutics, Inc. in May 2020. 

• Sector: Healthcare
• Industry: Biotechnology
• Full Time Employees: 76
• Incorporated in 2019 
• Headquartered in Radnor, Pennsylvania
• https://mineralystx.com

Ticker: NASDAQ:MLYS

IPO: Feb 10, 2023

 

 

 

 

 

 

 

Atour Lifestyle (ATAT) : 2-year performance

A leading hospitality and lifestyle company in China, Atour's diverse portfolio of hotel brands focuses on midscale to luxury hotels. As of the end of 2023 (the last data available on the company's website), Atour operated 1,210 hotels across 198 cities in China. Plus, it had an additional 617 hotels and 62,689 rooms under development.

The company benefits from a young, loyal and growing customer base. With a business model structured to create a closed loop from lodging to retail, the company provides a personalized immersive shopping destination that guides guests from discovery to purchase.

• Sector: Consumer Cyclical
• Industry: Lodging
• Full Time Employees: 4,248
• incorporated in 2012 
• Headquartered in Shanghai, China
• https://ir.yaduo.com/

IPO: Fri 11 Nov 22

 

 

Hesai Group (HSAI) : 2-year performance

Hesai Technology engages in the development and manufacture of three-dimensional light detection and ranging (LiDAR) solutions. The Company’s LiDAR products enable a broad spectrum of applications across passenger and commercial vehicles with advanced driver assistance systems (ADAS) and autonomous vehicle fleets (autonomous mobility). Hesai's technology also empowers robotics applications such as last-mile delivery robots and logistics robots in restricted areas. 

• Sector: Consumer Cyclical
• Industry: Auto Parts
• Founded in 2014 
• Headquartered in Shanghai, China
• https://www.hesaitech.com

IPO: February 9, 2023; offered 10.0 million American Depositary Shares (“ADSs”), at US$19.00 per ADS, for a total offering size of US$190.0 million

Ticker: HSAI

 

 

 

Snail (SNAL) : 2-year performance

Snail, Inc. is an independent developer and publisher of interactive digital entertainment. The firm builds a portfolio of games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. Its portfolio of games includes ARK:Survival Evolved, Last Oasis, PixARK, ATLAS, ARKII, Expedition Agartha, ARK Park, Outlaws of the Old West, Dark and Light, and ZCREW. 

Snail, Inc. operates as a subsidiary of Olive Wood Global Development Limited.

• Sector: Communication Services
• Industry: Electronic Gaming & Multimedia
• Full Time Employees: 97
• Founded by Shi Hai in 2009 
• Headquartered in Culver City, California
• https://snail.com

 

 

 

Visionary Holdings (GV) : 2-year performance

Visionary Holdings Inc. provides education resources to students worldwide. 

The company was formerly known as Visionary Education Technology Holdings Group Inc. and changed its name to Visionary Holdings Inc. in February 2024. 

• Sector: Consumer Defensive
• Industry: Education & Training Services
• Full Time Employees: 67
• Incorporated in 2013 
• Headquartered in Toronto, Canada
• https://visiongroupca.com

IPO: May 17, 2022; raised $17 million by selling 4,250,000 common shares at $4.00 per share.

BurgerFi (BFI) : performance since 2020 IPO

ticker: BFI 

Nuscale Power (SMR) : 2-year performance

NuScale Power is commercializing a safe, modular, and scalable 77 megawatt electric (gross) light water reactor nuclear power plant.

NuScale Power went public on May 3, 2022, after merging with Spring Valley Acquisition Corp. The company's stock started trading on the New York Stock Exchange under the ticker symbol "SMR". This made NuScale the first and only publicly traded provider of small modular reactor (SMR) technology. 

• Founded: 2007
• Headquarters: Corvallis, Oregon
• Employees: 330
• nuscalepower.com

 

 

Edible Garden (EDBL) : 2-year performance

Edible Garden AG, Inc. is a controlled environment agriculture (CEA) farming company, which engages in the usage of traditional agricultural growing techniques together with technology to grow organic food. Its products include lettuces, potted herbs, and cut herbs. 

• Sector: Consumer Defensive
• Industry: Farm Products
• Full Time Employees: 98
• Founded by James E. Kras and Michael C. James in 2020 
• Headquartered in New Jersey
• https://ediblegardenag.com

Rent the Runway (RENT) : 2-year performance

Ticker: RENT 

IPO: 27 Oct 21

Root Insurance (ROOT) : performance since 2020 IPO

It has been a long fall from grace for Root, which went public in October of 2020 with a market capitalization of over $6 billion. The IPO was seen as a big win for Root’s venture-capital backers, especially Drive Capital and Ribbit Capital.

 

Founded in 2015 and based in Columbus, Ohio, Root is a tech-enabled insurance provider that uses AI and data science to determine customers’ rates more quickly and streamline the claims process. In 2019, the company expanded its reach when it introduced renters insurance.

Root’s public debut came after those of other technology-powered insurance providers including rate-comparison website SelectQuote (SLQT), SoftBank-backed Lemonade (LMND) and Hippo (HIPO).

Such companies were part of a wave of consumer-facing online-insurance startups that went public during the last venture boom. They have since experienced steep selloffs in their stocks, in part because it turns out the companies tend to have higher loss ratios associated with accidents by their customers. Root has incurred net losses on an annual basis since its inception.

The once-highflying Carvana invested $126 million in Root in August of 2021, getting convertible stock and warrants. The companies began a partnership to offer insurance to customers in 2022. Declining used-car prices postpandemic have dented Carvana’s sales and profits—and the value of the agreement for Root.

Root’s Chief Revenue and Operating Officer Daniel Rosenthal resigned from the company earlier this year. Root recently fired its former Chief Financial Officer and Treasurer Rob Bateman for cause, saying only that he violated unspecified company policies.

Hall has sold a number of his previous businesses, including insurance-tech startup Salty Dot, acquired by CDK Global, and Insurance Point, acquired by Arthur J. Gallagher & Co.

Clover Health Investments (CLOV) : 2-year performance

 

Robinhood Markets (HOOD) : 2-year performance

 

EBET, Inc. (EBET) : 2-year performance

 

Pulmonx (LUNG) : 2-year performance

 

Equillium (EQ) : Positive Covid-19 results

Equillium (EQ) announced that a clinical trial conducted in India by its partner Biocon demonstrated that itolizumab significantly reduced mortality in patients hospitalized with COVID-19.

Ticker: EQ

 

Equillium reports data for Itolizumab demonstration reduction in mortality in patients hospitalized with COVID-19

Co announced that as reported by its partner, Biocon Limited, a clinical trial conducted in India by Biocon demonstrated that itolizumab significantly reduced mortality in patients hospitalized with COVID-19. Biocon has announced that the Drugs Controller General of India (DCGI), the regulatory agency that oversees drug approvals, has granted restricted emergency use of itolizumab for the treatment of cytokine release syndrome (CRS) in COVID-19 patients with moderate to severe acute respiratory distress syndrome (ARDS) in India. Based on the encouraging topline results of the study reported by Biocon and subsequent DCGI approval to treat COVID-19 patients, Equillium is planning to conduct a global randomized controlled clinical trial of itolizumab in COVID-19 patients for which it will file a U.S. investigational new drug application (IND).

Biocon conducted a randomized, controlled, open-label study at four hospitals in India, enrolling a total of 30 hospitalized COVID-19 patients with moderate to severe ARDS. Twenty patients were randomized to receive itolizumab plus best supportive care, while 10 patients received best supportive care alone. The primary endpoint was mortality at one month. As reported by Biocon:

• In the itolizumab arm there were no deaths and all patients have recovered; in the control arm three patients died and the remainder have recovered.
• The mortality benefit observed in the itolizumab arm was statistically significant.
• Consistent with the observed clinical improvement, patients who received itolizumab also experienced significant reductions in inflammatory cytokines such as IL-6 and TNFa.

EverQuote (EVER) : 2-year performance

Casa Systems (CASA) reported earnings on Thur 31 Oct 19 (a/h)

** charts before earnings **

 

** charts after earnings **

Casa Systems misses by $0.13, misses on revs; lowers FY19 below consensus

Reports Q3 (Sep) loss of $0.03 per share, excluding non-recurring items, $0.13 worse than the S&P Capital IQ Consensus of $0.10; revenues rose 14.4% year/year to $81.8 mln vs the $108.08 mln S&P Capital IQ Consensus.

Co issues downside guidance for FY19, sees EPS of ($0.25)-(0.15), excluding non-recurring items, vs. $0.24 S&P Capital IQ Consensus; sees FY19 revs of $255-270 mln vs. $325.25 mln S&P Capital IQ Consensus. 

"While our access device business was line with our expectations for the third quarter, revenue from our cable products, as well as revenue recognition from our wireless backlog, were lighter than anticipated," said Jerry Guo, Casa's President and CEO. "During the quarter, while we saw increased appetite for spending from our cable customers, timing for closing certain larger orders was more protracted than what we have seen previously. And, in our wireless business, while we continue to build our backlog, we saw a delay in revenue recognition due to new features that were requested to be added to a product associated with one of our larger purchase orders. Although our third quarter revenue was lower than expected, our overall business became diversified as half of our revenue came from our cable business with the remaining revenue split between our wireless and fixed telecom segments. This diversification indicates progress toward transforming the business while providing more stability in our revenue base in the future."

Long trade : OKTA +12% (10/19)

• 9/30: Hammer
• 10/1: #20, 61; vol. 5.0M;  buy