Your Tuesday Update On Nasdaq Idea (RELI)
RELI is off to a hot start this morning.
At this moment, RELI is up approximately 15% from Friday's close.
Already hitting a high of $5.15, could this be the beginning of a major vertical move short term?
Right now, RELI is trading above both its 5-Day and 20-Day Moving Averages which signal a profile trending in a positive direction.
Don't forget, Yahoo Finance is reporting a float of approximately 3.48Mn shares. Volatility can always be in the cards.
If you haven't yet, read my initial RELI report below and get it on your radar now.
In the last few months, I've brought 3 separate Nasdaq profiles that delivered major short term runs of note.
- The first was a biotech that ran from an open of $1.14 on 12/8 to a high of $2.90 on 2/22 for an approximate 154% move.
- The second erupted from a 12/29 open of $13.92 to a high of $17.40 on January 4th for an overall surge of approximately $3.40+.
- The third turned in a move of approximately 361% from my December alert of $5.65 when it hit $26.08 on 3/2.
Now, I've uncovered a new Nasdaq breakout idea you're going to need to get on your radar's ASAP.
Let me ask you a question. What do you know about insurance agencies?
Insurance agencies act as intermediaries between insurance carriers and consumers.
Unlike carriers, agencies do not bear insurance risk.
The U.S. insurance broker and agency industry generated revenue of $164Bn in 2018.
The market has grown steadily over the past 5 years due to macroeconomic growth, beneficial legislation, and positive trends within the insurance sector.
There is one company looking to make a name for themselves in this market and requires you immediate attention for Monday, March 15th:
Reliance Global Group, Inc. (RELI)
Reliance Global Group, Inc. is moving forward with its goal to operate in the insurance sector through its insurance brokerage agencies and online insurance businesses, and potentially other sectors. RELI's focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opp's, including insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk.
And, in past couple years Reliance Global Group, Inc. has made numerous acquisitions that has them poised to grab Wall Street's attention.
Major RELI Acquisitions Since 2018
- In October 2018, announced first two acquisitions: Employee Benefits Solutions and U.S. Benefits Alliance
- Michigan-based agencies specializing in the sale of health insurance products in the wholesale and retail industry
- In December 2018, acquired Commercial Coverage Solutions, LLC
- Commercial property and casualty insurance company specializing in commercial trucking and transportation insurance
- In September 2019, transferred ownership of two agencies from Reliance Global Holdings, LLC, a private company affiliated with Reliance Global Group
- Southwestern Montana Insurance, a group health insurance agency providing personal and commercial lines of insurance
- Fortman Insurance Agency, LLC, an agency providing multiple lines of insurance in the property/casualty and life/health insurance sectors
- In September 2019, acquired Altruis Benefit Consulting
- Serves customers throughout the entire State of Michigan, specializing in providing individual and group health insurance
- In September 2020, acquired the assets of UIS Agency, LLC (UIS), a premier regional insurance agency serving the commercial transportation industry
5minuteinsure(dot)com - Driving Online Traffic to RELI's Agencies and Affiliate Agents
5minuteinsure(dot)com will be utilized in conjunction with current and planned agency acquisitions, as well as affiliated agencies.
Today, there is growing competition among insurance agents to attract referrals from a limited pool of realtors, mortgage bankers, mortgage brokers, and auto dealers throughout the US.
5minuteInsure(dot)com is a new and proprietary tool being developed by Reliance Global Group to tap into the growing number of online shoppers to drive traffic to our insurance agents and affiliates.
5minuteInsure(dot)com utilizes artificial intelligence and data mining, to provide competitive insurance quotes within 5 minutes, with minimal data input.
No. 1 RELI Potential Catalyst - Expanding Sales Initiatives
Reliance Global Group Expands Sales Initiatives Targeting Large Enterprises and Employee Organizations
SWMIC subsidiary chosen as broker of choice for three additional unions
LAKEWOOD, N.J., March 03, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), a company engaged in the acquisition and management of insurance agencies in the United States, announces it is expanding its sales initiatives targeting large enterprises and employee organizations. As a result, Reliance Global Group’s wholly owned subsidiary, Southwestern Montana Insurance Center, LLC (SWMIC), was recently named broker of choice for an additional three unions.
Ezra Beyman, CEO of Reliance Global Group, stated, "In addition to launching 5minuteinsure.com, our direct-to-consumer offering, we are also accelerating our sales and marketing initiatives targeting large enterprises and employee organizations. I am pleased to report, SWMIC was recently named broker of choice for 3 premier regional unions. This follows SWMIC’s selection as Broker of Choice for 18 public school districts. We are pursuing this same strategy in parallel with our other agencies."
Read the full article here.
No. 2 RELI Potential Catalyst - Low Float
According to Yahoo Finance, RELI has a small float.
The website reports this profile to have 3.48Mn shares in its float.
Why is that important? It's important on one crucial level. Volatility.
With so few shares available for trading, potential driver indicators can send shares heading vertical in the short-term.
No. 3 RELI Potential Catalyst - Beta Launch Of Platform News
Reliance Global Group Announces Beta Launch of 5MinuteInsure(dot)com
Online platform to compare quotes, direct leads to a local agent and bind policies within minutes
LAKEWOOD, N.J., Feb. 18, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reliance Global Group, Inc. (Nasdaq: RELI), a company engaged in the acquisition and management of insurance agencies in the United States, today announced the beta launch of its 5MinuteInsure(dot)com platform as the next step in expanding the Company’s operations with the goal of establishing a national footprint.
Ezra Beyman, CEO of Reliance Global Group, stated, "The beta launch of 5minuteinsure.com allows customers to rapidly compare quotes online and directs them to an agent in their area who can answer questions and bind the policy. 5minuteinsure(dot)com complements our 'bricks and mortar' operations, as we can now route leads to the agents in our network. This should be a useful tool in driving business to our platform."
Mr. Beyman concluded, "Now that we have completed our Nasdaq listing, we are laser-focused on accelerating our business strategy. We believe the insurance market is ripe for expansion and poised for disruption through technology, and we look to 5minuteinsure to be our first venture into this space."
Read the full article here.
No. 4 RELI Potential Catalyst - Company Announces Nasdaq Listing
Reliance Global Group, Inc. Announces Nasdaq Listing and Pricing of $10.8Mn Public Offering
LAKEWOOD, NJ, Feb. 08, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reliance Global Group, Inc. (NASDAQ: RELI) ("Reliance" or "Company"), a company engaged in the acquisition and management of insurance agencies in the United States, today announced the pricing of an underwritten public offering of 1.8Mn shares of common sto-ck and accompanying Series A warrants at a public offering price of $6.00 per share and accompanying Series A warrant for aggregate gross proceeds of $10.8Mn prior to deducting underwriting discounts, commissions, and other offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 270K shares and accompanying Series A warrants at the public offering price less the underwriting discounts and commissions. The offering is expected to close on February 11, 2021, subject to satisfaction of customary closing conditions.
The Company has received approval to list its common sto-ck and Series A warrants on the Nasdaq Capital Market under the symbols “RELI” and “RELIW", respectively, with trading expected to begin on February 9, 2021.
Read the full article here.
No. 5 RELI Potential Catalyst - Combined Industry Experience
The company boasts a significant amount of industry knowledge. In fact, the company's major players have over 100 years of combined experience.
Ezra Beyman, Chairman & CEO, brings nearly three decades of entrepreneurial experience in real estate and fifteen years in insurance. His portfolio of commercial and residential properties at one point consisted of more than 40,000 residential units, as well as several insurance companies.
Scott Korman, Director, serves as President of Nashone, Inc., a private equity firm, which he founded in 1984. In this role, Mr. Korman is involved in financial advisory, M&A, and general management assignments.
Ben Fruchtzweig, Director, brings decades of executive experience in accounting and financial services. He has served as Chief Comptroller/Financial Analyst at national financial services and investment companies.
Sheldon Brickman, Director, has over 25 years of M&A advisory and business development experience, totaling more than $40Bn in deal value. He has worked for numerous multi-Bn-dollar insurance carriers, including assignments for such companies as AIG, Aetna and National General.
Alex Blumenfrucht, CPA, Chief Financial Officer, Prior to joining Reliance, Mr. Blumenfrucht served as an Audit & Assurance Professional at Deloitte & Touche, LLP where he successfully led audit teams on both public and privately held corporations.
Yaakov Beyman - Executive Vice President, Insurance Division, Mr. Beyman oversees the overall insurance operations of Reliance, including strategy and developing/implementing operational tools.
Recap: Top 5 Potential (RELI) Breakout Catalysts
No. 1 - Expanding Sales Initiatives
No. 2 - Low Float
No. 3 - Beta Launch Of Platform News
No. 4 - Company Announces Nasdaq Listing
No. 5 - Combined Industry Experience
Coverage is officially initiated on RELI. Also, when you have a second do this: