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Xebec resumes, Westport Euro 7 order and more ?3
XEBEQ, which is the symbol for Xebec over the counter, is no longer halted. This may be a moot point, as I currently see no bid, and ask price of 40 cents. Furthermore, most brokerages will only allow closing orders. I've made no effort to close my positions at such prices, but would be interested to hear about results if anyone does so.
Westport also announced an OEM order to supply tank to injector fuel systems beginning in 2025, when the Euro 7 emission standard goes into effect. This is forecast to generate €40M in annual revenue, which is about a tenth of projected revenue for 2025 and over an eighth of this year's revenue. Designing for this standard speaks to the extended applicability of natural gas, which undercuts hydrogen. Thus, WPRT has gained a few percent today, but still trades below the $1 compliance level. Although I see the stock as fairly valued, I would not chase it in advance of a possible reverse split.
Most recently, the Georgia Senate runoff was called in favor of Democratic candidate Warnock, over Republic football star Herschel Walker. Democrats already had control of the Senate, but Trump had backed Walker. So, this is a blow to his 2024 aspirations.
For the trivia file, we have Lumen reselling contact center services from Genesys providing network services for it.
Mobileye also turned in a pleasing first quarterly report which has edged MBLY narrowly above prior highs, which were in line with my expectation. I see this as positive for Intel, given its stake, and note that INTC is back down close to levels that could interest me, but I remain wary of end-of-year trading.