© Reuters. Is My Size a Good Software Stock to Own?
My Size (MYSZ) offers an innovative measurement solution for the fashion and shipping industry. Rapid digitization and changing consumer preferences have generated opportunities for the software solutions industry, to which MYSZ belongs. But given the company’s declining revenues and uncertain growth prospects, is it worth betting on the stock now? Read more to find out.Headquartered in Israel, My Size Inc. (MYSZ) has created a unique measuring technology based on advanced algorithms and cutting-edge technology that has a broad array of applications in fashion, e-commerce, DIY, shipping, and package delivery industries. MYSZ’s stock has declined 15.6% in price year-to-date and 12.5% over the past month to close its last trading session at $1.19.
Although the emergence of digital technology has generated opportunities for many of its peers, MYSZ has failed to benefit from the tailwinds. The company is yet to generate revenue or profits from its innovative measuring technology. Furthermore, the company’s inability to generate sufficient cash flows to fund its business operations could cause its share price to retreat in the near term.
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Goldman Sachs stock forecasts: Goldman has downgraded its recommendation for global stocks for the next 3 months to “below market
A new Goldman Sachs stock forecast has emerged. Analysts at U.S. bank Goldman Sachs Group Inc. (NYSE:GS) have downgraded their recommendation for global stocks for the next three months to “below market” and maintained an “above market” recommendation for cash amid recessionary risks, Bloomberg writes.
“Current stock valuations may not fully reflect the risks involved, and there’s a chance they will drop even further before they bottom out. Also have a disappointing Goldman Sachs economic forecast,” the Goldman strategist team, led by Christian Muller-Glissmann, wrote.
BlackRock, the world’s largest company by assets under management, advises investors to “divest from most stocks.”
Experts at Morgan Stanley (NYSE:MS) and JPMorgan Asset Management previously laid out similar concerns after the world’s top central banks signaled their firm’s resolve to fight inflation, sending global stocks plunging in the past few days.
Goldman analysts last week sharply lowered their forecast for the value of the U.S. S&P 500 stock index for the end of this year, to 3,600 points from the previously expected 4,300 points. The day before, the indicator finished trading at 3655 points.
Earlier, we reported that European stock markets are trading contradictoryly.
European stock markets are trading contradictory today
During today’s trading the major European stock markets do not show unified dynamics. The composite index of the largest companies in the region, Stoxx Europe 600, decreased by 0.18% to 389.68 points.
European stock markets trading today
British stock index FTSE 100 was down 0.06%, while German DAX gained 0.19% and French CAC 40 gained 0.16%. Italian FTSE MIB rose by 1%. Spanish IBEX 35 decreased by 0.34%.
The British financial company Virgin Money UK PLC was among the leaders of the fall in the components of the Stoxx Europe 600 index, falling by 6.7%.
Shares of the Swiss manufacturer of heating and ventilation systems rose 8.4% as Berenberg’s experts improved their recommendations on the company’s securities and raised their price target.
Concerns about the state of the global economy are growing amid persistently high inflation and aggressive measures by major central banks to curb it, writes CNBC.
The elections in Italy are also in the spotlight. The Italian Democratic Party acknowledged defeat in early parliamentary elections that took place on Sunday, reported the media.
The market is also pressed by continuing geopolitical tensions with the ongoing “referendums” in several regions of Ukraine.
Meanwhile, the level of business confidence in the German economy in September fell to 84.3 points from 88.6 points in August, according to a report by the research organization IFO.
Earlier we reported that the yield of British government bonds rose to a 14-year high.
Yield of British government bonds during recession rises to 14-year high
Yield of British government bonds during the recession is rising today amid expectations that the Bank of England will have to raise rates sharply as a major fiscal stimulus announced by the government last week will lead to a further rise in inflation.
The interest rate on U.K. ten-year government bonds rose to 4.246% p.a. during trading, which, according to Refinitiv, is the highest since 2008.
Yield on government bonds
The yield on ten-year bonds was 4.087% compared to 3.827% at market close on September 23; the yield on two-year government bonds rose to 4.418% from 3.911%.
Last Friday, Britain’s Finance Minister Kwasi Kwarteng announced a massive tax cut that will affect individuals and businesses and increase the budget deficit this fiscal year by more than 70 billion pounds.
The stimulus measures of the new British government will require an increase in government bond issuance, which is one of the factors pushing down their prices. Rising rates could exacerbate difficulties in the economy by reducing disposable income and leading to a rise in the cost of mortgages.
Earlier we reported that investors in the U.S. are buying a record number of risk insurance contracts amid a sell-off.
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