Ebet Inc
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EBET Ebet Inc
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*Nasdaq FSI: *Deficient: Issuer Failed to Meet NASDAQ Continued Listing Requirements

Consumer Discretionary : Hotels, Restaurants & Leisure | Small Cap Growth
Company profile

EBET, Inc. operates platforms to provide a real money online gambling experience focused on i-gaming including casino, sportsbook and esports events. The Company operates under a Curacao gaming sublicense and under a strategic partnership with Aspire Global plc (Aspire) allowing the Company to provide online betting services to various countries around the world. The Company operates online casino and sportsbook brands consisting of Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, and GenerationVIP. It operates seven online wagering brands, through Websites and mobile applications, where it accepts deposits and funds from its customers and offer its customers the ability to use those funds to wager on slot and table games, live casino games as well as virtual sport computer simulated games and sports betting. It has market access for its esports products in various regulated markets, including the United Kingdom, Germany, Ireland, Malta, and Denmark, among others.

Closing Price
Day's Change
-0.0202 (-39.00%)
B/A Size
Day's High
Day's Low
(Heavy Day)

10-day average volume:

Fed Funds, FedEx Q1 Mid-Week; Strikes Continue

9:33 am ET September 18, 2023 (Zacks) Print

The big news in the markets this week revolves around the Fed’s mid-week decision on interest rate policy, although a vast majority of prognosticators see a hold at the current 5.25-5.50% range — already the highest Fed funds rate in more than 20 years. Despite recent hotter-than-expected economic data over the past couple weeks, the smart money is on the Fed being patient and allowing these high rates work over inflation in the medium/long-term, instead of twisting too tight and cracking what otherwise might be a soft economic landing.

The United Autoworkers union (UAW) rejected the latest proposal from Stellantis STLA, which means the workers strike against the Detroit 3 automakers continues. Stellantis, owner of the Chrysler brand, among others, offered a 21% pay increase, in line with Ford’s F +21% and General Motors’ GM +20%. The UAW has come down from 40% to 36%, but looks to be holding firm at this level, at least for now.

After 40+ years of rolling back union membership in the U.S. economy overall — with less than 10% of U.S. workforce currently unionized — we’re seeing a clear push-back against the ownership class. The Writers Guild and SAG/AFTA actors unions’ strike in Hollywood, which began more than three months ago, still shows no signs of abating. Same here with the UAW.

So while the Fed does everything it can to land the economic plane toward optimum 2% inflation levels without tipping into a deep recession, outside forces in flux with labor management add another headwind to the mix, which already included possible recessionary conditions in parts of Europe and elsewhere. The White House is sending a team of negotiators to Detroit with the hopes of bringing the autoworkers’ impasse to a close, and they go with President Biden’s history of being perhaps the most pro-union president of the last half-century.

In other news, Zacks Rank #2 (Buy)-rated FedEx FDX reports its fiscal Q1 earnings results mid-week, along with fellow Zacks Rank #2-rated KB Home KBH. Beyond this, Instacart and Klaviyo plan their long-awaited IPOs this week, following last week’s Arm Holdings ARM launch last week. So we’ve got plenty of stuff going on beyond the pending Fed decision and labor strikes in the Great Lakes and West Coast. So even though we’re still pre-earnings season, we should have plenty of grist for the mill.

At this hour, three of the four major indices are down, with only the small-cap Russell 2000 in the green. Futures have stagnated, however, with the Dow still -25 points, the S&P 500 -5 and the Nasdaq -37 points. Friday trading took these indices lower through last week, though all four remain in the green at this hour over the past month — from +0.20% on the Russell to +4.19% on the Nasdaq.

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Ford Motor Company (F): Free Stock Analysis Report
ARM Holdings PLC (ARM): Free Stock Analysis Report
General Motors Company (GM): Free Stock Analysis Report
FedEx Corporation (FDX): Free Stock Analysis Report
KB Home (KBH): Free Stock Analysis Report
Invesco QQQ (QQQ): ETF Research Reports
Stellantis N.V. (STLA): Free Stock Analysis Report

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