LAS VEGAS - JanOne Inc. (NASDAQ:JAN), a player in the healthcare and fintech sectors, has been included in the Russell Microcap® Index, a notable event for the company as it seeks to increase its visibility in the investment community. The announcement comes shortly after JanOne's acquisition of ALT 5 Sigma, a move that expands the company's fintech offerings.
The Russell Microcap® Index, established on June 1, 2005, tracks the performance of the microcap segment of the U.S. equity market. It comprises 1,000 securities, featuring companies like Virgin Galactic HLDG and Skye Bioscience. The index is managed by the London Stock Exchange Group (LON:LSEG) under the FTSE brand.
Tony Isaac, CEO of JanOne, stated that the inclusion in the index is a significant milestone, particularly following the recent acquisition, and anticipates that it will provide greater visibility among investment managers and institutional investors.
ALT 5 Sigma, acquired by JanOne, specializes in blockchain technology and offers two main platforms: ALT 5 Pay and ALT 5 Prime. ALT 5 Pay is a cryptocurrency payment gateway that allows merchants to accept and process crypto payments, with options to convert to fiat currencies. ALT 5 Prime is an over-the-counter trading platform for digital assets, accessible via web and mobile applications, as well as through third-party financial gateways.
JanOne has a dual focus on healthcare and fintech. In healthcare, it is developing solutions aimed at addressing the opioid crisis, with drugs in clinical trials targeting pain without the addictive risks associated with opioids. The fintech arm, ALT 5, provides advanced blockchain technologies for financial transactions involving digital instruments.
This news is based on a press release statement.
InvestingPro Insights
As JanOne Inc. (NASDAQ:JAN) celebrates its inclusion in the Russell Microcap® Index and its recent acquisition of ALT 5 Sigma, investors are closely monitoring the company's performance metrics and market sentiment. According to InvestingPro, JanOne's market capitalization stands at a modest 35.89 million USD, reflecting its microcap status. The company's journey has been marked by significant stock price volatility, with a 1 Month Price Total Return of -21.03%, yet an impressive 6 Month Price Total Return of 619.63%, indicating a large price uptick over the latter period.
An InvestingPro Tip that stands out for JanOne is the company's high return over the last year, with a 1 Year Price Total Return of 170.18%, showcasing its growth potential. Meanwhile, the company's operational challenges are highlighted by an EBITDA of -3.73 million USD and a Return on Assets of -74.84% for the last twelve months as of Q1 2024. These figures suggest that while the company has experienced recent growth in its stock price, it is still navigating through financial hurdles.
For investors seeking a deeper analysis, InvestingPro offers additional insights, including the company's short-term obligations exceeding its liquid assets and the lack of dividend payments to shareholders. With these metrics in mind, potential investors should consider the full picture of JanOne's financial health and market position. For those interested in exploring further, InvestingPro provides more tips to help inform investment decisions. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and gain access to the full suite of 10 additional InvestingPro Tips for JanOne Inc.
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