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Vuzix preliminary 4Q24, monthly charts and more -3
09:31 17-Jan-24
Vuzix has disclosed preliminary fourth quarter revenue of $2.1M along with cost cutting measures that should reduce expenses by 25% over the course of this year. Analysts were expecting $3.4M in sales. Management says it will focus more on OEM products and services while cutting R&D and marketing. I wonder if the former will include Atomistic. Official earnings are due at the end of February, and VUZI is only down a 5% so far to plumb new lows below $1.70.
Market
leverage
rebounded near prior unsustainable highs in December. Although
money keeps trickling into markets, the Santa Claus rally still
looks overbought. We've been seeing that throughout January as dumb
money keeps flowing into megacap
dominated funds, which is supporting the indexes even though most
stock prices are eroding. Although this is not enough to scare me
out of favorites like NFE or my high yield names, it causes me to
reiterate my warnings about a dangerously stretched market.
American
electricity
and natural
gas pricing narrowed slightly, but not significantly for
December, which was warm. That doesn't trouble me as I expect
seasonal trends to continue breaking down. The only other energy
note is bp removing
the interim qualification for its CEO. Maybe it can move forward
more efficiently with Golar now?