Buzz on the Bullboards: A briefing of the hottest & latest trends

It has been another interesting week for markets on Bay Street and Wall Street, from a hot streak to a slide, back up, and down again. Every sector has seen its share of gainers and decliners, with our Bullboards tracking movement in all directions. A few mainstay companies have continued to dominate the top six of their markets, while newcomers have also joined the conversation.

Canada’s main stock index posted a solid rebound this week as energy stocks climbed along with the price of oil. Gains were capped by declines seen in the health care, and telecom sectors.

The TSX crawled out of the red, having been weighed down by losses in the energy sector as the price of oil moves lower.

U.S. markets are closed for Thanksgiving and will be open for just a half day on Black Friday.

Meanwhile, investors have been busy keeping track of new economic data, with reads on the labour market, housing market, and manufacturing sector.

Some major U.S. retailers have also reported impressive gains, pushing Wall Street’s main indexes into the green. This has helped to soothe traders’ worries around the economic fallout of stricter COVID-19 curbs in China, who recently warned was facing its most intense test of the COVID-19 pandemic. Closer to home, this reignited concerns about slowing growth.

The COVID pandemic had put serious pressure on the med-tech market, what does this mean for companies in this space now that they have made the virus a part of their agenda? Reliq Health Technologies (TSXV:RHT, Forum) made news after signing a contract with a network of 15 Skilled Nursing Facilities in California.

This contract is expected to add a further 1,000 new patients per month or 12,000 new patients per year to Reliq’s iUGO Care platform beginning in 2023.

“We are very pleased to be expanding into the Skilled Nursing Facility market in California,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies Inc.

“Reliq will be providing our iUGO Care Transitional Care Management (TCM), Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) solutions to help improve post-discharge health outcomes and reduce readmissions while also generating new revenue streams for the facilities. The company will provide TCM to newly discharged patients at a rate of $60 per patient, with recurring revenue from RPM, CCM and BHI of $65/patient per month, at a 75 per cent gross margin. We will begin onboarding patients with these facilities in early 2023. Once all 15 facilities are live, we expect to onboard over 1,000 of their newly discharged patients every month. The Skilled Nursing space is currently one of our fastest growing market segments, and we are excited to help provide new healthcare services to their patients to drive better outcomes.”

Reliq Health Technologies specializes in developing Software-as-a-Service solutions for remote patient monitoring, telemedicine, and care collaboration. Reliq’s iUGO Care platform supports care coordination and community-based virtual healthcare. iUGO Care provides real-time access to remote patient monitoring data, allowing for timely interventions by the care team to prevent costly hospital readmissions and ER visits.

New Found Gold (TSXV:NFG, Forum) announced results from five follow-up holes on the high-grade gold at the Keats West area on its Queensway Project, located in Newfoundland.

Drilling intersected more high-grade gold, with mineralization starting close to the surface. The highest new intercept is located 200 metres up-dip of two previously reported gold intercepts. The company shared these holes were all interpreted within the same host structure.

Multiple intercepts in the Keats West structure demonstrated broad low-grade gold domains which spanned over 50 metres and ranged in cumulative width from 18-30 metres.

These new results confirmed that the host structure dips gently to the south-southwest and is open along strike and down-dip. Exploration drilling is ongoing, with two drills working to expand on this new discovery.

Melissa Render, Vice President of Exploration for New Found Gold, stated,

“Today’s results affirm the significance of the Keats West discovery and indicate that drilling has locked onto a new structure with proven potential… The discovery of high-grade gold mineralization west of the Appleton fault is a relatively new advancement in addition to identifying an associated strong, low-grade gold domain.”

Patriot One Technologies (TSX:PAT, Forum) announced its intent to rebrand as Xtract One Technologies Inc.

The name change showcases the company’s ability to be a single source of digital innovation solutions providing advanced patron experience, safety, and business insights. Peter Evans, CEO of Patriot One, commented on the rebrand.

Over the past 18 months, Patriot One has refocused its product offerings and its go-to-market strategy to position itself as a trusted security provider and innovation partner to its customers.

The rebrand will align the company’s public image with its internal strategy. It is a key step in the company’s efforts to bolster its portfolio of solutions to address the growing technology needs of its customers. The change will also see its AI and development arm, Xtract AI, become a fully integrated part of the organization.

“We have been developing the company over the past year to become even more customer-centric and to address our customers’ most complex security issues. By leveraging innovative AI, our solutions are purpose-built to solve those customer issues. Our brand – including all the ways the company represents itself in its message, including the website, content, and, indeed, our name – was not current with a tech-forward company. We have taken specific steps, showcasing our technology as an elevated solution for the physical security industry as a whole. As we move forward, the value we deliver will further enhance this vision and expand to deliver incremental value to that patron experience.”

Patriot One has customers in a range of industries, including arenas and stadiums, manufacturing plants and government entities – underscoring the need for modern weapons detection and threat prevention anywhere that people gather.

Meanwhile, the company also rolled out its latest effort to protect entrances to schools in New Jersey’s Lakewood School District, this week.

The company will supply its SmartGateway entry screening solution to ensure weapons are not brought into any premises.

SmartGateway uses AI-based sensors to scan for hidden guns, knives, and other weapons without requiring personal items to be removed.

According to the Institute of Education Sciences, as many as 3 per cent of U.S. high school students said that they carried a weapon onto school property.

This might be a quiet weekend ahead for American markets, given the Thanksgiving long weekend recess. Regardless, you can always bet the news and value findings won’t slow down on the Bullboards.