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The latest announcement is out from Daily Journal ( (DJCO) ).
In July, Daily Journal received allegations from Buxton Helmsley USA, Inc. regarding improper accounting practices related to software development costs. Buxton Helmsley, led by Alexander E. Parker, claimed that capitalizing these costs could benefit shareholders and demanded compensation for this suggestion. However, after a thorough review by the Audit Committee and third-party experts, the company confirmed its compliance with the appropriate accounting standards, ASC 950-20, and refuted Parker’s claims. The company emphasized that its software development, primarily for external use, aligns with ASC 985-20, and not the internal use standard ASC 350-40, which Parker mistakenly referenced. The company criticized Parker’s actions, including demands for board seats and allegations of securities law violations, as misguided and called for an end to his attacks.
Spark’s Take on DJCO Stock
According to Spark, TipRanks’ AI Analyst, DJCO is a Outperform.
Daily Journal’s strong financial performance and attractive valuation are the primary drivers of its stock score. However, technical indicators suggest caution due to bearish momentum. The recent corporate event involving an SEC report introduces additional risk, but its impact is mitigated by the company’s proactive response.
To see Spark’s full report on DJCO stock, click here.
More about Daily Journal
Average Trading Volume: 60,702
Technical Sentiment Signal: Strong Buy
Current Market Cap: $584.9M
See more insights into DJCO stock on TipRanks’ Stock Analysis page.