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TRON

Corner Growth Acquisition 2 NasdaqCM:TRON Stock Report

Last Price

US$10.12

Market Cap

US$121.8m

7D

0.9%

1Y

2.7%

Updated

03 Oct, 2022

Data

Company Financials
TRON fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance1/6
Financial Health3/6
Dividends0/6

TRON Stock Overview

Corner Growth Acquisition Corp. 2 is a blank check company.

Corner Growth Acquisition 2 Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Corner Growth Acquisition 2
Historical stock prices
Current Share PriceUS$10.12
52 Week HighUS$11.42
52 Week LowUS$9.73
Beta0
1 Month Change0.099%
3 Month Change1.10%
1 Year Change2.74%
3 Year Changen/a
5 Year Changen/a
Change since IPOn/a

Recent News & Updates

Shareholder Returns

TRONUS Capital MarketsUS Market
7D0.9%1.2%1.0%
1Y2.7%-22.2%-20.0%

Return vs Industry: TRON exceeded the US Capital Markets industry which returned -25.4% over the past year.

Return vs Market: TRON exceeded the US Market which returned -23.2% over the past year.

Price Volatility

Is TRON's price volatile compared to industry and market?
TRON volatility
TRON Average Weekly Movementn/a
Capital Markets Industry Average Movement0.4%
Market Average Movement6.8%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.8%

Stable Share Price: Insufficient data to determine TRON's volatility over the past 3 months.

Volatility Over Time: Insufficient data to determine TRON's volatility change over the past year.

About the Company

FoundedEmployeesCEOWebsite
2021n/aMarvin Tienhttps://www.cgac2.cornergrowth.com

Corner Growth Acquisition Corp. 2 is a blank check company. It intends to focus on businesses in the technology sector. The company was incorporated in 2021 and is based in Palo Alto, California.

Corner Growth Acquisition 2 Fundamentals Summary

How do Corner Growth Acquisition 2's earnings and revenue compare to its market cap?
TRON fundamental statistics
Market CapUS$121.76m
Earnings (TTM)US$9.38m
Revenue (TTM)n/a

13.0x

P/E Ratio

0.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TRON income statement (TTM)
RevenueUS$0
Cost of RevenueUS$0
Gross ProfitUS$0
Other Expenses-US$9.38m
EarningsUS$9.38m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.78
Gross Margin0.00%
Net Profit Margin0.00%
Debt/Equity Ratio0.0%

How did TRON perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is TRON undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TRON?

Other financial metrics that can be useful for relative valuation.

TRON key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Earnings Ratio vs Peers

How does TRON's PE Ratio compare to its peers?

TRON PE Ratio vs Peers
The above table shows the PE ratio for TRON vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average36.9x
AVHI Achari Ventures Holdings I
31.9xn/aUS$125.6m
ALTU Altitude Acquisition
11.5xn/aUS$126.1m
TMPM Turmeric Acquisition
84.6xn/aUS$126.3m
MSAC Medicus Sciences Acquisition
19.8xn/aUS$115.0m
TRON Corner Growth Acquisition 2
13xn/aUS$121.8m

Price-To-Earnings vs Peers: TRON is good value based on its Price-To-Earnings Ratio (13x) compared to the peer average (36.9x).


Price to Earnings Ratio vs Industry

How does TRON's PE Ratio compare vs other companies in the US Capital Markets Industry?

Price-To-Earnings vs Industry: TRON is good value based on its Price-To-Earnings Ratio (13x) compared to the US Capital Markets industry average (24.9x)


Price to Earnings Ratio vs Fair Ratio

What is TRON's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TRON PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate TRON's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of TRON when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate TRON's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate TRON's fair value for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Corner Growth Acquisition 2 forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


11.7%

Forecasted Diversified Financials industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Corner Growth Acquisition 2 has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Discover growth companies

  • Take a look at our analysis of TRON’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.

Past Performance

How has Corner Growth Acquisition 2 performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


20.8%

Historical Diversified Financials annual earnings growth

Earnings and Revenue History

Quality Earnings: TRON has high quality earnings.

Growing Profit Margin: Insufficient data to determine if TRON's profit margins have improved over the past year.


Past Earnings Growth Analysis

Earnings Trend: Unable to establish if TRON's year-on-year earnings growth rate was positive over the past 5 years as it has been trading publicly for less than 3 years.

Accelerating Growth: Unable to compare TRON's past year earnings growth to its 5-year average as it has been trading publicly for less than 3 years.

Earnings vs Industry: Insufficient data to determine if TRON's earnings growth over the past year exceeded the Capital Markets industry average.


Return on Equity

High ROE: TRON's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


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Financial Health

How is Corner Growth Acquisition 2's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: TRON has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: TRON has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: TRON is debt free.

Reducing Debt: TRON's has negative shareholder equity, so we do not need to check if its debt has reduced over time.

Debt Coverage: TRON has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: TRON has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Corner Growth Acquisition 2 current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Corner Growth Acquisition 2 Dividend Yield vs Market
How does Corner Growth Acquisition 2 dividend yield compare to the market?
SegmentDividend Yield
Company (Corner Growth Acquisition 2)n/a
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.6%
Industry Average (Capital Markets)2.9%
Analyst forecast in 3 Years (Corner Growth Acquisition 2)n/a

Notable Dividend: Unable to evaluate TRON's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TRON's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TRON's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TRON's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as TRON has not reported any payouts.


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Management

How experienced are the management team and are they aligned to shareholders interests?

1.7yrs

Average management tenure


CEO

Marvin Tien (47 yo)

1.67yrs

Tenure

Mr. Marvin Tien serves as Co-Chairman and Chief Executive Officer at Corner Growth Acquisition Corp. 2 since February 2021 and Corner Growth Acquisition Corp. 3. Mr. Tien serves as Co-Chairman and Chief Ex...


Leadership Team

Experienced Management: TRON's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.


Board Members

Experienced Board: TRON's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of TRON?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders150,0001.2%
Hedge Funds3,717,87329.7%
Institutions4,155,65633.2%
Private Companies4,475,00035.8%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 103.11% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
37.19%
CGA Sponsor, LLC
4,475,000$45.3m0%no data
8.31%
HGC Investment Management Inc.
1,000,000$10.1m0%0.63%
8.31%
Polar Asset Management Partners Inc.
999,999$10.1m0%0.18%
7.52%
Taconic Capital Advisors L.P.
905,162$9.2m0%0.34%
6.76%
Highbridge Capital Management, LLC
812,712$8.2m-2.97%0.19%
4.47%
Sculptor Capital Management, Inc.
538,066$5.4m0%0.07%
3.86%
Alpha Wave Global, LP
464,232$4.7m0%0.52%
3.33%
Radcliffe Capital Management, L.P.
400,538$4.1m0.13%0.14%
2.91%
UBS O'Connor LLC
350,000$3.5m-1.12%0.09%
2.91%
Periscope Capital Inc
350,000$3.5m-53.24%0.1%
2.49%
Castle Creek Arbitrage, LLC
300,000$3.0m0%0.22%
2.08%
Mint Tower Capital Management B.V.
250,000$2.5m0%0.56%
2.05%
Shaolin Capital Management LLC
246,643$2.5m-58.89%0.12%
1.86%
WR Berkley Corp., Asset Management Arm
223,911$2.3m126.38%0.12%
1.77%
Centiva Capital, LP
213,255$2.2m-0.23%0.16%
1.66%
Spring Creek Capital, LLC
200,000$2.0m0%0.1%
1.5%
Verition Fund Management LLC
180,852$1.8m-0.6%0.04%
0.83%
PEAK6 Investments, L.P.
100,000$1.0m-42.86%0.03%
0.76%
Meteora Capital, LLC
91,624$927.2k0%0.23%
0.53%
Barclays PLC Private Banking & Investment Banking Investment
63,700$644.6k0%no data
0.45%
Millennium Management LLC
54,687$553.4k-75%no data
0.42%
Jason Park
50,000$506.0k0%no data
0.42%
John Mulkey
50,000$506.0k0%no data
0.42%
Alexandre Balkanski
50,000$506.0k0%no data
0.29%
The Bank of Nova Scotia, Banking Investments
34,998$354.2k0%no data

Company Information

Corner Growth Acquisition Corp. 2's employee growth, exchange listings and data sources


Key Information

  • Name: Corner Growth Acquisition Corp. 2
  • Ticker: TRON
  • Exchange: NasdaqCM
  • Founded: 2021
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Implied Market Cap: US$121.756m
  • Shares outstanding: 12.03m
  • Website: https://www.cgac2.cornergrowth.com

Location

  • Corner Growth Acquisition Corp. 2
  • 251 Lytton Avenue
  • Suite 200
  • Palo Alto
  • California
  • 94301
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TRON.UNasdaqCM (Nasdaq Capital Market)UnitsUSUSDJun 2021
TRONNasdaqCM (Nasdaq Capital Market)YesClass A Common StockUSUSDAug 2021

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/03 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.