News Corp. (SMURF) – Riding It Out

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Thursday, February 16, 2023 Corp is a publicly traded company that invests in Web3 assets and businesses focused on the Metaverse, NFTs, DeFi, and gaming based digital assets. is the majority owner of Metaverse Group, one of the world’s first virtual real estate companies. Hulk Labs, a wholly-owned subsidiary, focuses on investing in play-to-earn revenue generating gaming tokens and NFTs. Additionally, owns and stakes crypto assets to earn additional tokens. Through its growing digital assets and NFTs, provides public market investors with a simple and secure way to gain exposure to Web3.

Joe Gomes, Managing Director – Generalist Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

First Quarter Results. Total revenue for the quarter was at $151,848, an increase from the prior quarter of $101,235. We will be comparing quarters as has two new revenue streams, leasing and gaming revenue, which both did not occur last year. We estimated revenue at $105,000. Operating loss for was $566,525 versus $879,430 last quarter, and net loss was at $1.7 million, or EPS loss of $0.02, versus the prior quarter loss of $1.8 million, or a $0.02/sh loss.

Market Appreciation. The overall cryptocurrency market has seen an increase in total market cap over the last three months, as total market cap has risen to $1.05 trillion from $843.3 billion on November 15, 2022. This is an increase of $206.1 billion or 24.4%. If sustained, the rebound in the cryptocurrency market will be a positive for, in our view.

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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 


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