Netflix Inc.’s (NASDAQ:NFLX) film division is undergoing a significant reorganization under the leadership of its new head, Dan Lin. 

The restructure aims to categorize the division based on genre, dividing films into specific categories such as sci-fi, rom-com, and faith-based. This strategic move, which has been in development for over a month, involves collaboration between Lin, Chief Content Officer Bela Bajaria, the film department heads, and external partners. 

The reorganization reflects Lin’s vision for the streaming giant, marking his influence since officially joining Netflix on April 1, the Hollywood Reporter reports.

Also Read: Is the Streaming Bubble Bursting? Significant Portion Of Users Cut Multiple Subscriptions

Under the revamped structure, Ori Marmur will be responsible for action, fantasy, horror, and sci-fi films, while Kira Goldberg will be responsible for thrillers, dramas, and family movies. 

Niija Kuykendall will manage faith-based, young adult, and holiday films, while Jason Young will focus on comedies and rom-coms. 

The reorganization also anticipates some staff departures, estimated to be around a dozen, although this number could change. 

Netflix has faced challenges in managing its vast projects and significant content budget. 

Previously, the film division was organized by budget size, with Lisa Nishimura and Tendo Nagenda overseeing different segments. Following their departures, Netflix created a temporary structure to reduce confusion and consolidate film operations.

This latest reorganization under Lin aims to better align Netflix’s internal structure with its film slate’s needs. 

Insiders suggest that the future Netflix film lineup will predominantly feature midsize offerings, which have historically been the platform’s most successful ventures, alongside a selection of larger films and award contenders.

In March, Wedbush analyst Michael Pachter removed Netflix from Wedbush’s Best Ideas List due to the pricing in of key growth drivers such as the crackdown on password sharing and the introduction of an ad-supported tier reducing churn. 

His quarterly survey suggests a seasonal slowdown in subscriber growth, albeit with continued year-on-year increase and a rise in subscribers opting for Netflix’s ad tier.

Pachter anticipates strong performance from Netflix as global trends stay stable and the advertising market improves throughout the year. 

He acknowledges the ad tier’s role in reducing churn and sees a substantial opportunity for Netflix to grow its advertising revenue in 2024 and beyond. 

Netflix stock gained over 85% in the last 12 months. Investors can gain exposure to the stock via Invesco Next Gen Media And Gaming ETF (NYSE:GGME) and REX FANG & Innovation Equity Premium Income ETF (NASDAQ:FEPI).

Price Action: NFLX shares traded higher by 0.69% at $624.08 premarket on the last check Tuesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Netflix Photo by Ink Drop on Shutterstock

The Dow Jones index closed lower by around 10 points on Monday. When insiders purchase or sell shares, it indicates their confidence or concern around the company’s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga’s insider transactions platform.

Citizens

• The Trade: Citizens, Inc. (NYSE:CIA) Director Terry Sam Maness acquired a total of 1,000 shares an average price of $2.14. To acquire these shares, it cost around $2,137.
• What’s Happening: On March 18, Citizens, named Jon Stenberg as President of Citizens.
• What Citizens Does: Citizens Inc is an insurance holding company serving the life insurance needs of individuals in the United States.

Tecogen

• The Trade: Tecogen Inc. (OTC:TGEN) Director John Hatsopoulos acquired a total of 1,000 shares at at an average price of $0.70. To acquire these shares, it cost around $700.
• What’s Happening: On March 13, Tecogen reported revenues of $5.9 million and a net loss of $1.8 million for the quarter ended Dec. 31, 2023.
• What Tecogen Does: Tecogen Inc, designs, manufactures, markets, and maintains high-efficiency, ultra-clean cogeneration products. It operates in three business segments, namely Products, Services, and Energy Production.

Check This Out: Neogen, Maxeon Solar Technologies And 3 Stocks To Watch Heading Into Tuesday

Silo Pharma

• The Trade: Silo Pharma, Inc. (NASDAQ:SILO) CEO and President Eric Weisblum acquired a total of 1,000 shares at an average price of $1.99. The insider spent around $1,988 to buy those shares.
• What’s Happening: Silo Pharma approved extension of previously announced stock repurchase program authorizing purchase of up to $1 million common stock until April 30.
• What Silo Pharma Does: SILO Pharma Inc is a developmental stage biopharmaceutical company developing novel therapeutics that address underserved conditions including stress-induced psychiatric disorders, chronic pain conditions, and central nervous system (CNS) diseases.

 

Don’t forget to check out our premarket coverage here

To gain an edge, this is what you need to know today.

AI As Consequential As Electricity

Please click here for an enlarged version of the chart of JPMorgan Chase & Co (NYSE:JPM).

Note the following:

• This article is about the big picture, not an individual stock. The chart of JPM stock is being used to illustrate the point.
• JP Morgan is the largest U.S. bank. Its CEO Jamie Dimon is the most influential banker in the world. Prudent investors pay attention to what Jamie Dimon says.  Prudent investors recognize that Dimon has access to more private data than almost anyone else.
• Jamie Dimon said, “We are completely convinced the consequences will be extraordinary and possibly as transformational as some of the major technological inventions of the past several hundred years: Think the printing press, the steam engine, electricity, computing and the Internet, among others.”
• The trendline on the chart shows the strong up move in JP Morgan stock since the last earnings.
• A quick look at the JPM chart shows that JPM is doing significantly better than popular stocks such as Apple Inc (NASDAQ:AAPL) and Tesla Inc (NASDAQ:TSLA).
• JP Morgan will kick off the earnings season on Friday, April 12.
• As full disclosure, JPM is in the ZYX Buy Model Portfolio from The Arora Report and is long from $34.14.  
• A part of the rise in JPM stock is due to AI.  This illustrates the point that we have been sharing with you that the beneficiaries of AI are far beyond popular AI tech stocks such as NVIDIA Corp (NASDAQ:NVDA).  
• The Arora Report was one of the first to say that a fortune is to be made in AI all the way to 2030.  However, making a fortune from AI is not going to be a straight line. It will be treacherous at times. To emphasize the importance of making a fortune in AI, along the way, The Arora Report has continuously reinforced this message. The purpose of this article is to reinforce this message again with information from JP Morgan.
• The stronger your conviction about AI and the more knowledge you have, the more money you will extract from the markets. At the same time, two points are important.
  • There is too much AI hype. This over-hype can cause you losses.
  • There are also many gurus calling AI a fad. You will be doing yourself a disservice by believing such gurus. 
• Here are the key points from Jamie Dimon’s letter to shareholders:
  • The importance of AI simply cannot be overstated.
  • JPM has 300 use cases in production today.
  • AI has helped JPM significantly reduce risk in retail business by reducing fraud.
  • JPM has 2500 professionals working on AI and supportive tasks.
• The markets are taking a sigh of relief that over the weekend, Iran did not attack Israel.
• In The Arora Report analysis, prudent investors should not join the momo crowd in being oblivious to the potential of a wider Middle East conflict.  In The Arora Report analysis, the response from Iran is likely to be a surprise and at a time of Iran’s choosing and certainly not based on what stock market traders think.  

Magnificent Seven Money Flows

In the early trade, money flows are positive in NVDA, Amazon.com, Inc. (NASDAQ:AMZN), Meta Platforms Inc (NASDAQ:META), and TSLA.

In the early trade, money flows are neutral in Alphabet Inc Class C (NASDAQ:GOOG) and Microsoft Corp (NASDAQ:MSFT).

In the early trade, money flows are negative in AAPL.

In the early trade, money flows are positive in SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust Series 1 (NASDAQ:QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is buying stocks in the early trade. Smart money is inactive in the early trade.

Gold

The momo crowd is like a yoyo in gold in the early trade. Smart money is inactive in the early trade.

For longer-term, please see gold and silver ratings.

The most popular ETF for gold is SPDR Gold Trust (NYSE:GLD). The most popular ETF for silver is iShares Silver Trust (NYSE:SLV).

Oil

The momo crowd is selling oil in the early trade.  Smart money is inactive in the early trade.

For longer-term, please see oil ratings.

The most popular ETF for oil is United States Oil ETF (NYSE:USO).

Bitcoin

After the weekend hype, retail investors are aggressively buying Bitcoin (CRYPTO: BTC) ETFs. This time it is the retail buying and not bitcoin whales that is running up bitcoin. Bitcoin has moved above $72,000.

Protection Band And What To Do Now

It is important for investors to look ahead and not in the rearview mirror.

Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.

You can determine your protection bands by adding cash to hedges.  The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.  If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.

It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.  When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.  High beta stocks are the ones that move more than the market.

Traditional 60/40 Portfolio

Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.

Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of seven year duration or less.  Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.

The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever Generate Wealth Newsletter.

This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.

Recent spikes in commodity prices are tipping the balance towards a potentially grim economic outlook for the year, akin to the challenging times seen in the 1970s.

Ed Yardeni, the president and CEO of Yardeni Research, notes that the chances of witnessing a repeat of the 1970s are increasing, with risks of oil prices hitting $100 per barrel and gold soaring to $3,000 an ounce.

“We are still assigning subjective probabilities of 60% to the Roaring 2020s, 20% to a bout of irrational exuberance, and 20% to a second peak in inflation as occurred during the 1970s,” Yardeni outlined in a recent post.

However, he warned that the odds of a 1970s-like scenario could increase further if the price of oil continues to rise.

The West Texas Intermediate (WTI) light crude, as tracked by the United States Oil Fund (NYSE:USO) has already rallied 24% year-to-date. Gold prices, as monitored through the SPDR Gold Trust (NYSE:GLD) have risen by 13% year-to-date, and by 27% since October’s 2023 lows, breaking new record highs.

Chart: Oil Prices, Gold On A Launchpad?

The Impact Of Geopolitics On Oil Prices

Yardeni stated that “a direct confrontation between Israel and Iran would rapidly boost the price of a barrel of Brent crude oil over $100.”

An intriguing angle raised by Yardeni has to do with the interplay between oil prices and U.S. presidential elections.

Yardeni, citing geopolitical expert Stephen Soukup, suggests Saudi Arabia might try influencing the U.S. election by raising oil prices. He states, “the basic thesis is that the Saudis might like to see President Biden lose to Donald Trump. So they might do whatever they can to boost the price of oil before the November election.”

Liz Peek, a former Wall Street oil-field analyst and current political-economic commentator, also speculated in her column for The Hill that the Saudi government might be trying to impact President Joe Biden‘s reelection campaign by keeping oil prices elevated.

For the Russians, high oil prices are essential for survival, Peek noted. Conversely, the Saudis view soaring oil costs as crucial for realizing the ambitious economic vision of Crown Prince Mohammed bin Salman (MbS) and as a means for “exacting revenge against Biden.”

With the U.S. election looming, the manipulation of oil prices could have a dual impact on Biden’s administration by exacerbating inflation and complicating foreign policy in Russia and Eastern Europe. A recent poll indicated that 22% of voters ranked inflation as their top issue, suggesting that rising fuel costs will likely remain a prominent concern.

Read now: Goldman Sachs Predicts Rosy 2024 Economic Outlook, Yet A Challenging Q1 Earnings Season For S&P 500 Stocks

Photo: Shutterstock

Summary

• Poor week for stocks
• Jobs Report exceeds expectations
• GE outperformed market downturns

The market had a rough trading week with the S&P dropping 1.02% and the Dow Jones dropping 2.27%. This downtrend is reflected in almost every stock. At the end of the trading day on Thursday the 4th, stocks took a huge downturn after the Minneapolis FED President, Neel Kashkari, said that the central bank may not cut interest rates at all; this is contradictory to what Simon Powell said a couple of weeks ago. However, stocks rallied at the end of the week with a great jobs report.

One stock that beat out the rest of the market was General Electric Co (NYSE:GE) (now GE Aerospace). Among the chaos that was in the market this week, GE grew 12.50%. GE Aerospace separated from parent General Electric, which relieved it of all the debt baggage that the other sectors of the company carried with it. This fact caused GE Aerospace to be more attractive to prospective investors. In the long term, there’s a lot of growth in store for GE Aerospace, causing us to be bullish on it.

On Friday 4/5/2024, the Bureau of Labor Statistics released their monthly jobs report. This report showed that employment increased by 303,000 in March, which decreased unemployment by 3.8%; this news completely beat out economists’ expectations. This positive news is the biggest reason behind stocks rallying to finish up a turbulent week. However, this good news for our economy may give the FED another excuse to keep interest rates high. These two contrasting views on the economy make it hard to predict how this report will affect the markets in the upcoming week. We suggest waiting it out and seeing what happens in the next few trading days. The news of continued high interest rates can be taken two ways. On one side, keeping your money in a CD or other type of account is a good choice where the higher interest rates will give you a higher return on your deposit. On the other hand, it makes it a bad idea to apply for any loans right now. It would be a good idea to see what the FED has to say about interest rates next before deciding on whether you take out a loan.

 

Disclaimer:

The information provided in this article is for educational and informational purposes only. It is not intended to be, and should not be construed as, investment or financial advice.

While every effort has been made to ensure the accuracy of the information presented, no guarantee is made regarding its completeness or accuracy. The author and publisher shall not be liable for any errors or omissions in the content, nor any actions taken in reliance thereon.

Readers should conduct their research and due diligence before making investment decisions. Past performance is not indicative of future results.

This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.

During a captivating session at the Benzinga Cannabis Capital Conference, Alexa Alianiello, head of U.S. sales and partnerships at X (formerly Twitter), shed light on the unique relationship between the platform and its cannabis-engaged audience.

“Cannabis users are X users. But don’t just take my word for it… A recent study from GWI on smoking behavior states that X is the number-one platform for recreational cannabis consumers,” Alianiello said, emphasizing the platform’s prominence among recreational cannabis consumers.

The data she referred to indicates that X enthusiasts are also 25% more inclined to engage with cannabis recreationally than those not on the platform.

To provide a more nuanced understanding of this demographic, Alianiello shared findings from a proprietary survey conducted by X’s research team. “We actually found that 25% of X users who consume cannabis use it daily.” 

Alianiello further elaborated on how cannabis users utilize X as a primary source for industry news, brand discovery and engaging in community discussions. The platform boasts a staggering twenty million posts on cannabis, contributed by four million unique voices. “You have people who are talking about it a lot,” Alianiello pointed out, underscoring the vibrant and active cannabis conversations happening on X.

Catch Alianiello at the upcoming Benzinga Cannabis Capital Conference this April 16 and 17 in Hollywood, Florida. Don’t miss the networking and learning opportunity of the year! Connect directly with industry leaders and key decision-makers, hear and learn from insiders with massive knowledge of the space and anticipate policy shifts that could greatly affect your business. Get your discounted tickets here now or apply to exhibit to get the most out of this event.

Through Alianiello’s insights, it becomes clear that X is not just a platform for social interaction but a critical ecosystem for cannabis culture and commerce. This intersection of cannabis consumers and digital communities offers brands unprecedented opportunities to engage with their audience in meaningful ways. As X continues to foster these connections, the insights shared by Alianiello at the conference underscore the platform’s significant role in the evolving landscape of cannabis consumption and discussion.

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

The Walt Disney Co. (NYSE:DIS) CEO Bob Iger revealed that the Mouse House will start its password-sharing crackdown in June.

What Happened: Iger disclosed the company’s plans to CNBC, stating that the new policy will be implemented in a few countries and markets initially, with a global rollout scheduled for September.

The anti-password sharing rules were first enforced for new Disney Plus subscribers on January 25 and later extended to existing members on March 14.

Subscribers suspected of improper sharing will be prompted to sign up for their own subscription this summer, as confirmed by Disney’s chief financial officer, Hugh Johnston, during an earnings call in February.

Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.

While the company has not yet disclosed the additional fee for adding members outside a subscriber’s household, it is expected to be a significant step towards Disney’s goal of achieving profitability in its streaming business by the end of the fiscal year.

Disney’s recent move to combine the Disney Plus and Hulu apps is also seen as a strategy to increase subscriber engagement and reduce churn. The merged app not only integrates content from both services but also combines watch histories to enhance recommendations.

See Also: Bob Iger Once Thought Apple And Disney Merger Would Have Happened If His Friend Steve Jobs Lived: ‘I Think We Would Have Gotten There’

Why It Matters: Disney’s decision to charge for password sharing follows in the footsteps of Netflix Inc., which implemented a similar policy in 2023.

This move is part of Disney’s broader strategy to boost its subscriber base and achieve profitability in its streaming business.

Disney has been making significant strides in its streaming business, with its stock returning over 50% to investors in the past six months. The company’s recent initiatives, including the password-sharing crackdown, are likely to further bolster its position in the streaming market.

Price Action: At the time of writing, Disney’s shares were trading 1% up at $118.26, according to Benzinga Pro.

Check out more of Benzinga’s Consumer Tech coverage by following this link.

Read Next: Apple Quietly Unveils New AI Model ReALM That Outperforms OpenAI’s GPT-4 Despite Being ‘Much Lighter And Faster’

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photo courtesy: Shutterstock

DoorDash Inc (NASDAQ:DASH) is partnering with Lowe’s Companies Inc (NYSE:LOW) to make an entry into the home improvement market.

The monetization potential of the company’s new retail vectors, including grocery and convenience, is likely to become “more tangible over the next 12+ months,” according to Benchmark.

The DoorDash Analyst: Mark Zgutowicz initiated coverage of DoorDash with a Buy rating and price target of $165.

The DoorDash Thesis: Given its massive scale, the company’s foray into new verticals could afford it “greater velocity of revenue and contribution margin” than is reflected in the current consensus, Zgutowicz said in the initiation note.

Check out other analyst stock ratings.

The divergence between DoorDash and the “well-funded #2” Uber Technologies Inc’s (NYSE:UBER) Uber Eats continues to grow, with the former comfortably holding “a 3x relative share position” since 2020, the analyst stated.

“DASH’s relative advantages in network scale, S&M leverage, and fixed cost leverage, along with “dramatic” internal improvement in grocery profitability TTM, sets the table for U.S. grocery GOV and contribution profitability inflection NTM+,” Zgutowicz wrote.

“DASH has yet to meaningfully tap into Retail Media advertising, an important point to consider for attach rates to non-restaurant GOV over the next several years,” he added.

DASH Price Action: Shares of DoorDash had risen by 0.59% to $139.60 at the time of publication on Thursday.

Image: Shutterstock

Whales with a lot of money to spend have taken a noticeably bearish stance on Netflix.

Looking at options history for Netflix (NASDAQ:NFLX) we detected 36 trades.

If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 69% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $374,535 and 28, calls, for a total amount of $1,328,414.

What’s The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $300.0 to $800.0 for Netflix during the past quarter.

Insights into Volume & Open Interest

In today’s trading context, the average open interest for options of Netflix stands at 701.71, with a total volume reaching 15,253.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Netflix, situated within the strike price corridor from $300.0 to $800.0, throughout the last 30 days.

Netflix Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
NFLX	CALL	TRADE	BEARISH	04/12/24	$23.0	$20.1	$21.0	$620.00	$157.5K	692	7
NFLX	PUT	TRADE	BEARISH	01/16/26	$31.45	$30.9	$31.45	$440.00	$94.3K	130	30
NFLX	CALL	SWEEP	NEUTRAL	04/05/24	$3.4	$3.35	$3.35	$640.00	$94.0K	1.8K	868
NFLX	CALL	TRADE	NEUTRAL	09/20/24	$93.0	$88.8	$91.14	$600.00	$82.0K	1.3K	9
NFLX	PUT	TRADE	BULLISH	05/17/24	$36.35	$36.0	$36.13	$635.00	$72.2K	196	85

About Netflix

Netflix’s relatively simple business model involves only one business, its streaming service. It has the biggest television entertainment subscriber base in both the United States and the collective international market, with almost 250 million subscribers globally. Netflix has exposure to nearly the entire global population outside of China. The firm has traditionally avoided live programming or sports content, instead focusing on on-demand access to episodic television, movies, and documentaries. The firm recently began introducing ad-supported subscription plans, giving the firm exposure to the advertising market in addition to the subscription fees that have historically accounted for nearly all its revenue.

Having examined the options trading patterns of Netflix, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Netflix Standing Right Now?

• With a volume of 891,002, the price of NFLX is up 0.3% at $632.0.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 14 days.

Professional Analyst Ratings for Netflix

5 market experts have recently issued ratings for this stock, with a consensus target price of $685.0.

• An analyst from Wedbush persists with their Outperform rating on Netflix, maintaining a target price of $725.
• Consistent in their evaluation, an analyst from Jefferies keeps a Buy rating on Netflix with a target price of $700.
• An analyst from Loop Capital persists with their Buy rating on Netflix, maintaining a target price of $700.
• Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Netflix, targeting a price of $660.
• An analyst from Evercore ISI Group persists with their Outperform rating on Netflix, maintaining a target price of $640.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Netflix, Benzinga Pro gives you real-time options trades alerts.

Jiuzi Holdings, Inc. (NASDAQ:JZXN) entered into a non-binding letter of intent to acquire Shenzhen Maigesong Electric Technology Co. The specific financial terms of the transaction were not disclosed. The deal has been signed by Jiuzi’s subsidiary Shenzhen Jiuzi New Energy Holding Group.

Pursuant to the terms of the LOI, Shenzhen Jiuzi will acquire 100% of the equity of Shenzhen Maigesong in exchange for certain restricted share compensation.

The company shall invest RMB30 million ($4.15 million) to fund the construction of Shenzhen Maigesong’s rechargeable lithium battery production line. 

This investment will be divided into two stages, with RMB 15 million to be invested by the end of April 2024 and another RMB 15 million by the end of November 2024.

The LOI includes an earnout provision which provides that Shenzhen Maigesong shall achieve a revenue target of RMB 119.81 million by the end of December 2025 and a revenue target of RMB 504.22 million by the end of December 2026. 

“Both parties will work together to achieve the revenue targets and promote the sustained development and growth of the enterprise,” per a press release.

Price Action: JZXN shares are trading higher by 10.9% to $4.16 on the last check Wednesday. 

Photo via Shutterstock