Valens Equity Weekly Insights and Inflections for March 30, 2021

March 30, 2021

Company Specific Highlights & Insights:

Aggregate ECF™ Trend Analysis:

Management confidence showed a robust recovery in May through July after the pandemic-driven drop in management confidence earlier this year. The “green shoots” in May through July did moderate somewhat through Q3, however they remain at more bullish levels, signaling a willingness to invest when fundamentals are more normal.