Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>WTR-CMI last week. The third quarter ended on a down note, with the S&amp;P 500 losing 3.7% and the Russell 2000 dropping 2.7%.</li><li>Our WTR-CMI index slightly underperformed the Russell 2000, declining 3.0% for the week. Coincidently, RYAM led the performance of stocks in our index, appreciating 18% last week, as news spread of one of its main competitors in commodity markets announcing the intention to shut down a major wood pulp production plant in the US</li><li>Lithium (LAC and PLL) and ag- chem stocks (FMC and AVD) were the worst performers in our index last week on lower lithium prices and signs of slowing EV demand, and a weaker farmer outlook for 2024/25 season.</li></ul>

WTR-CMI last week. The third quarter ended on a down note, with the S&amp;P 500 losing 3.7% and the Russell 2000 dropping 2.7%.Our WTR-CMI index slightly underperformed the Russell 2000, declining 3.0% for the week. Coincidently, RYAM led the performance of stocks in our index, appreciating 18% last week, as news spread of one of its main competitors in commodity markets announcing the intention to shut down a major wood pulp production plant in the USLithium (LAC and PLL) and ag- chem stocks (FMC and AVD) were the worst performers in our index last week on lower lithium prices and signs of slowing EV demand, and a weaker farmer outlook for 2024/25 season.

Mat-Chem Notes For the Week Ended September 29, 2023

<ul>
<li>The WTR Sustainable Index underperformed the broader market, falling 5.3% W/W versus the S&amp;P 500 Index (down 2.9%), the Russell 2000 Index (down 3.8%), and the Nasdaq Index (down 3.3%).</li>
<li>Energy Technology (14.6% of the index) contributed to the index’s underperformance, falling 7.5%, while Industrial Climate and Ag Technology (46.5% of the index) was down 2.7%, ClimateTech Mining was down 8.0%, and Advanced Transportation Solutions was down 7.2%.</li>
<li>Top 10 Performers: CLIR, NHHH, BRDS, NILI, FPX, ATLX, GIGA, ABML, WAVE, LTBR</li>
</ul>


The WTR Sustainable Index underperformed the broader market, falling 5.3% W/W versus the S&amp;P 500 Index (down 2.9%), the Russell 2000 Index (down 3.8%), and the Nasdaq Index (down 3.3%).
Energy Technology (14.6% of the index) contributed to the index’s underperformance, falling 7.5%, while Industrial Climate and Ag Technology (46.5% of the index) was down 2.7%, ClimateTech Mining was down 8.0%, and Advanced Transportation Solutions was down 7.2%.
Top 10 Performers: CLIR, NHHH, BRDS, NILI, FPX, ATLX, GIGA, ABML, WAVE, LTBR


Weekly Sustainable Investing Surveyor - Week Ended September 22, 2023

<div><div><div><div><ul style="list-style-type: disc;"><li><p>Global equities sold off this week after more hawkish language from the Federal Reserve. The MSCI World Index fell 2.77%, while the S&amp;P 500 dropped 2.92%.</p></li><li><p>The Fed kept rates at 5.25-5.50% but warned additional rate hikes are possible.</p></li><li><p>The NASDAQ declined 3.62%, while the small-cap Russell 2000 finished the five days down 3.78%.</p></li></ul></div></div></div></div>

Global equities sold off this week after more hawkish language from the Federal Reserve. The MSCI World Index fell 2.77%, while the S&amp;P 500 dropped 2.92%.The Fed kept rates at 5.25-5.50% but warned additional rate hikes are possible.The NASDAQ declined 3.62%, while the small-cap Russell 2000 finished the five days down 3.78%.

The Highlights - Cannabis News for the Week Ending September 22, 2023

<ul><li>The WTR Sustainable Index outperformed the broader market, rising 0.8% W/W versus the S&amp;P 500 Index (down 0.2%), the Russell 2000 Index (down 0.2%), and the Nasdaq Index (down 0.5%).</li><li>Energy Technology (15.0% of the index) contributed to the index’s outperformance, rising 1.2%, while Industrial Climate and Ag Technology (45.3% of the index) was down 2%, ClimateTech Mining was up 2.6%, and Advanced Transportation Solutions was up 3.7%.</li><li>Top 10 Performers: MULN, CMC, FFIE, NKLA, CRGE, WUC, NNOMF, XOS, AZRE, CPTN</li></ul>

The WTR Sustainable Index outperformed the broader market, rising 0.8% W/W versus the S&amp;P 500 Index (down 0.2%), the Russell 2000 Index (down 0.2%), and the Nasdaq Index (down 0.5%).Energy Technology (15.0% of the index) contributed to the index’s outperformance, rising 1.2%, while Industrial Climate and Ag Technology (45.3% of the index) was down 2%, ClimateTech Mining was up 2.6%, and Advanced Transportation Solutions was up 3.7%.Top 10 Performers: MULN, CMC, FFIE, NKLA, CRGE, WUC, NNOMF, XOS, AZRE, CPTN

Weekly Sustainable Investing Surveyor Week Ended September 15, 2023

<div><div><div><div><ul style="list-style-type: disc;"><li><p>WTR-CMI last week. Last week saw the market retrench, with the S&amp;P 500 losing 1.3%, while our WTR-CMI index of 30 chemicals and materials technology stocks managed to modestly outperform the broader Russell 2000 index (-3.6%) by declining 3.4%.</p></li><li><p>Only one stock in our index, SXT, managed a positive gain for the week, appreciating 3%. FMC was the worst performer in our index, losing 12.3% of its value on a short seller’s report that the company felt obliged to address.</p></li><li><p>Ag-tech portfolio shuffles continue. Privately held DLF, a global seed company, completed the acquisition of CTVA’s alfalfa seed breeding program, which was announced last month.</p></li></ul></div></div></div></div>

WTR-CMI last week. Last week saw the market retrench, with the S&amp;P 500 losing 1.3%, while our WTR-CMI index of 30 chemicals and materials technology stocks managed to modestly outperform the broader Russell 2000 index (-3.6%) by declining 3.4%.Only one stock in our index, SXT, managed a positive gain for the week, appreciating 3%. FMC was the worst performer in our index, losing 12.3% of its value on a short seller’s report that the company felt obliged to address.Ag-tech portfolio shuffles continue. Privately held DLF, a global seed company, completed the acquisition of CTVA’s alfalfa seed breeding program, which was announced last month.

Mat-Chem Notes For the Week Ended September 8, 2023

United States

The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities and serves as the foundation for a wide range of investment products. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.

S&P 500 INDEX (SPX INDEX)

Mat-Chem Notes For the Week Ended September 29, 2023

WTR-CMI last week. The third quarter ended on a down note, with the S&P 500 losing 3.7% and the Russell 2000 dropping 2.7%.

Water Tower Research

Weekly Sustainable Investing Surveyor - Week Ended September 22, 2023

The WTR Sustainable Index underperformed the broader market, falling 5.3% W/W versus the S&P 500 Index (down 2.9%), the Russell 2000 Index (down...

Water Tower Research

The Highlights - Cannabis News for the Week Ending September 22, 2023

Global equities sold off this week after more hawkish language from the Federal Reserve. The MSCI World Index fell 2.77%, while the S&P 500 dropped...

Water Tower Research

Weekly Sustainable Investing Surveyor Week Ended September 15, 2023

The WTR Sustainable Index outperformed the broader market, rising 0.8% W/W versus the S&P 500 Index (down 0.2%), the Russell 2000 Index (down...

Water Tower Research

Mat-Chem Notes For the Week Ended September 8, 2023

Ag-tech portfolio shuffles continue. Privately held DLF, a global seed company, completed the acquisition of CTVA’s alfalfa seed breeding program,...

Water Tower Research