News Corp. (SMURF) – Challenging Market Can’t Stop Growth

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Wednesday, August 17, 2022 Corp. (SMURF)
Challenging Market Can’t Stop Growth 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, Senior Research 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.

Second Quarter Results.’s management announced total revenue of $250,714, an increase of $46,724 over the prior year’s $203,990. We had estimated revenue at $450,000. Operating loss was at $502,066 versus last year’s $2.0 million due to a listing expense in the previous year and a decrease in share-based payments. Net loss for the Company was $11.9 million, or $(0.12) per share from a net loss of $8.5 million, or $(0.13) per share, last year.

Challenging Environment but Silver Lining. The Company’s portfolio has seen a large decrease from the crypto market price reductions from the end of the year to the end of the second quarter, as the value of the portfolio has dropped to $6.95 million from $25.17 million. However, management is seeing improved crypto asset pricing since the end of the second quarter. With the Company’s healthy balance sheet and initiatives in the Metaverse and Hulk Labs businesses, we believe the Company is well positioned to ride out the storm….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*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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