March 2020 Stifel Broker Note - INITIAL Buy Rating @ 8.5p

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mike
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Re: March 2020 Stifel Broker Note - INITIAL Buy Rating @ 8.5p

Post by mike »

Fudgerella30 wrote:
Wed Mar 11, 2020 9:25 am
Actually thought we would get an rns today
I don't think they normally RNS broker research notes, especially when they are not being circulated out to Retail Clients although I was hoping we might have got something too. Always the rest of the day to go though, but I'm not expecting one.

What I would like though is to read this 30 page note. Someone must have Stifel Europe research access as a non-retail client that could anonymously forward the pdf to [email protected]



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Re: March 2020 Stifel Broker Note - INITIAL Buy Rating @ 8.5p

Post by MGXYZ »

40 pages mike!! 🤤



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Re: March 2020 Stifel Broker Note - INITIAL Buy Rating @ 8.5p

Post by mike »

moneygenxyz wrote:
Wed Mar 11, 2020 10:58 am
40 pages mike!! 🤤
I'm assuming 10 pages were made up of covers, table of contents and pictures. The remaining 30 pages I'll read :P



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Re: March 2020 Stifel Broker Note - INITIAL Buy Rating @ 8.5p

Post by Neemoney »

@mike

Deal you read a digest syntax, I'll study pictures :D



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Re: March 2020 Stifel Broker Note - INITIAL Buy Rating @ 8.5p

Post by mike »

We have the Broker Note .....



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Re: March 2020 Stifel Broker Note - INITIAL Buy Rating @ 8.5p

Post by mike »

FULL STIFEL BROKER NOTE HERE:




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Re: March 2020 Stifel Broker Note - INITIAL Buy Rating @ 8.5p

Post by MGXYZ »

Reading consuming nom nom nom
While this challenge should not be under-estimated, we understand that Bidstack is
in advanced stage negotiations for several titles with go-live planned for Q2-Q3 this year and additional
titles are already being lined up for 2021. These games include a major title, which if signed, would considerably boost inventory, but should also provide a halo effect to the credibility of the new ad-
format.



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Re: March 2020 Stifel Broker Note - INITIAL Buy Rating @ 8.5p

Post by MGXYZ »

Near term, our bigger focus is on games and daily active users (DAUs). Bidstack currently has around 100k DAUs live. Management is in the testing phase for titles, which it believes together could add 25-30m DAUs over the next two years. Games companies are very guarded with user data, but for context, the popular freemium titles Fortnite and PUBG are reported to have 20-30m DAUs each. A major paid-for title like EA’s FIFA attracts ~10m DAUs.



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Re: March 2020 Stifel Broker Note - INITIAL Buy Rating @ 8.5p

Post by MGXYZ »

during 2020 Bidstack is in discussions with c.35 titles.
A lot of cash required by the looks of it.

Hope this is done in increments...



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Re: March 2020 Stifel Broker Note - INITIAL Buy Rating @ 8.5p

Post by MGXYZ »

From Figure 13:

Dentsu Aegis 2 year contract for up to £10m p.a

#BeadyEyes. Earlier in the note they avoided mentioning that.



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