United States motion picture and video tape production industry landscape illustrating listed-company operations, infrastructure and market activity

Prism Finance USA · comparison snapshot

Motion Picture And Video Tape Production Stocks in USA: Revenue Cohort 1

Name: Motion Picture And Video Tape Production Stocks in USA: Revenue Cohort 1 comparison snapshot
Creator: Fliar BI Prism

A five-company motion picture and video tape production cohort selected by latest filing revenue, then compared across market path, filings, profitability, readiness, Prism attention and industry context.

Snapshot: 11 September 2026Not investment adviceRanked by Prism readiness

Readiness leaderFuboTV · 54

Strongest available pathCuriosityStream · -74.8%

Widest latest marginGaia · -4.5%

Companies compared5 · U.S.-listed

01 · Readiness ranking

Five companies, one comparable score

Companies are ordered by the Fliar BI Prism readiness score used by the Prism Finance USA source pack. The score is a research signal, not a recommendation.

Readiness #1FUBO · NYSE

FuboTV

A U.S.-listed issuer classified by the SEC in Motion Picture And Video Tape Production

Founded 2015New York City$348.3M market cap

View full Companies Radar profile

54Moderate

Snapshot price$11.53as of page date

Monthly-close return-96.0%five-year window

FY2024 revenue$1.62BFuboTV Inc.

Net margin-10.6%FY2024

P/E snapshot3.0xone ratio, not a verdict

Prism attention77.0%share across these five

Filing track recordRevenue, USD billions

+645.3%

FY2020–FY2024 · 5 filing periods · TOTAL REVENUE · Normalized revenue metric from the in-house filings extraction · CAGR 65.2%

52-week position7% through range

$7.95$56.64

News mentions41.5K

Community mentions737partial coverage

U.S.-scope patents21

Prism InsightsWhat sits behind the readiness signal
Observed risk 0/100higher means more observed risk

Earnings signal75/100
Management stability90/100
Market position25/100
Capital-event signal58/100
Innovation pulse0/100

Management signal

No leadership-churn flag in the model; 1 key-person event recorded in the latest 360-day window.

Market activity

Available history contains 22 M&A involvements, 1 asset-acquisition events and 21 contract events.

Innovation activity

Prism records 3 lifetime product-launch events, 0 in the latest 360 days, and 0 company announcements in that window.

Recent risk watch

No lawsuit or regulatory event is recorded in the latest 360-day window and no layoff event in the latest 180-day window. This is not legal clearance.

Prism model components and available company-event evidence; scores are research signals, not recommendations. Event totals describe available coverage and may not be exhaustive.

Readiness #2CURI · Nasdaq

CuriosityStream

A U.S.-listed issuer classified by the SEC in Motion Picture And Video Tape Production

Founded 2014Silver Spring, Maryland$157.8M market cap

View full Companies Radar profile

47Cautious

Snapshot price$2.66as of page date

Monthly-close return-74.8%five-year window

FY2025 revenue$0.07BCuriosityStream Inc.

Net margin-9.0%FY2025

P/E snapshot8.6xone ratio, not a verdict

Prism attention2.5%share across these five

Filing track recordRevenue, USD billions

+26.0%

FY2023–FY2025 · 3 filing periods · TOTAL REVENUE · Normalized revenue metric from the in-house filings extraction · CAGR 12.2%

52-week position11% through range

$2.30$5.51

News mentions1.3K

Community mentions96partial coverage

U.S.-scope patents0

Prism InsightsWhat sits behind the readiness signal
Observed risk 0/100higher means more observed risk

Earnings signal71/100
Management stability90/100
Market position7/100
Capital-event signal43/100
Innovation pulse0/100

Management signal

No leadership-churn flag in the model; 1 key-person event recorded in the latest 360-day window.

Market activity

Available history contains 3 M&A involvements, 0 asset-acquisition events and 0 contract events.

Innovation activity

Prism records 0 lifetime product-launch events, 0 in the latest 360 days, and 0 company announcements in that window.

Recent risk watch

No lawsuit or regulatory event is recorded in the latest 360-day window and no layoff event in the latest 180-day window. This is not legal clearance.

Prism model components and available company-event evidence; scores are research signals, not recommendations. Event totals describe available coverage and may not be exhaustive.

Readiness #3TOON · NYSE MKT

Kartoon Studios

A U.S.-listed issuer classified by the SEC in Motion Picture And Video Tape Production

Founded 2006Carson City, California$37.7M market cap

View full Companies Radar profile

43Cautious

Snapshot price$0.61as of page date

Monthly-close return-95.5%five-year window

FY2025 revenue$0.04BKartoon Studios, Inc.

Net margin-62.3%FY2025

P/E snapshot7.6xone ratio, not a verdict

Prism attention0.9%share across these five

Filing track recordRevenue, USD billions

+4234.1%

FY2015–FY2025 · 5 filing periods · TOTAL REVENUE · Revenue derived as cost of revenue plus gross profit for FY2015 · CAGR 156.6%

52-week position14% through range

$0.50$1.29

News mentions481

Community mentions0partial coverage

U.S.-scope patents0

Prism InsightsWhat sits behind the readiness signal
Observed risk 0/100higher means more observed risk

Earnings signal54/100
Management stability90/100
Market position3/100
Capital-event signal47/100
Innovation pulse7/100

Management signal

No leadership-churn flag in the model; 0 key-person events recorded in the latest 360-day window.

Market activity

Available history contains 0 M&A involvements, 1 asset-acquisition events and 1 contract events.

Innovation activity

Prism records 4 lifetime product-launch events, 0 in the latest 360 days, and 3 company announcements in that window.

Recent risk watch

No lawsuit or regulatory event is recorded in the latest 360-day window and no layoff event in the latest 180-day window. This is not legal clearance.

Prism model components and available company-event evidence; scores are research signals, not recommendations. Event totals describe available coverage and may not be exhaustive.

Readiness #4GAIA · Nasdaq

Gaia

A U.S.-listed issuer classified by the SEC in Motion Picture And Video Tape Production

Founded 2014Rancho Santa Margarita, California$34.3M market cap

View full Companies Radar profile

30Cautious

Snapshot price$1.35as of page date

Monthly-close return-85.8%five-year window

FY2025 revenue$0.10BGAIA, INC

Net margin-4.5%FY2025

P/E snapshot-3.5xone ratio, not a verdict

Prism attention19.6%share across these five

Filing track recordRevenue, USD billions

+24.4%

FY2021–FY2025 · 5 filing periods · TOTAL REVENUE · Normalized revenue metric from the in-house filings extraction · CAGR 5.6%

52-week position4% through range

$1.16$6.39

News mentions10.6K

Community mentions3.3Kpartial coverage

U.S.-scope patents256

Prism InsightsWhat sits behind the readiness signal
Observed risk 0/100higher means more observed risk

Earnings signal55/100
Management stability70/100
Market position0/100
Capital-event signal0/100
Innovation pulse0/100

Management signal

No leadership-churn flag in the model; 0 key-person events recorded in the latest 360-day window.

Market activity

Available history contains 0 M&A involvements, 0 asset-acquisition events and 0 contract events.

Innovation activity

Prism records 0 lifetime product-launch events, 0 in the latest 360 days, and 0 company announcements in that window.

Recent risk watch

No lawsuit or regulatory event is recorded in the latest 360-day window and no layoff event in the latest 180-day window. This is not legal clearance.

Prism model components and available company-event evidence; scores are research signals, not recommendations. Event totals describe available coverage and may not be exhaustive.

Readiness #5WNLV · U.S. exchange

Winvest Group

A U.S.-listed issuer classified by the SEC in Motion Picture And Video Tape Production

Founded 2021Reno, Nevada$0.1M market cap

View full Companies Radar profile

27Avoid

Snapshot price$0.00as of page date

Monthly-close return-100.0%five-year window

FY2025 revenue$0.00BWinvest Group Ltd

Net margin-19183.3%FY2025

Prism attention0.0%share across these five

Filing track recordRevenue, USD billions

-12.1%

FY2022–FY2025 · 4 filing periods · TOTAL REVENUE · Normalized revenue metric from the in-house filings extraction · CAGR -4.2%

52-week position0% through range

$0.00$0.20

News mentions10

Community mentions0partial coverage

U.S.-scope patents0

Prism InsightsWhat sits behind the readiness signal
Observed risk 0/100higher means more observed risk

Earnings signal44/100
Management stability70/100
Market position0/100
Capital-event signal0/100
Innovation pulse0/100

Management signal

No leadership-churn flag in the model; 0 key-person events recorded in the latest 360-day window.

Market activity

Available history contains 0 M&A involvements, 0 asset-acquisition events and 0 contract events.

Innovation activity

Prism records 0 lifetime product-launch events, 0 in the latest 360 days, and 0 company announcements in that window.

Recent risk watch

No lawsuit or regulatory event is recorded in the latest 360-day window and no layoff event in the latest 180-day window. This is not legal clearance.

Prism model components and available company-event evidence; scores are research signals, not recommendations. Event totals describe available coverage and may not be exhaustive.

02 · Side-by-side

The comparisons that change the picture

Every bar preserves its own meaning. Price return, revenue scale, profitability and attention are deliberately not blended into one recommendation.

Available monthly-close return

Dated window printed on each company card; not a forecast.

CuriosityStream

-74.8%

Gaia

-85.8%

Kartoon Studios

-95.5%

FuboTV

-96.0%

Winvest Group

-100.0%

Latest revenue

USD billions, official filing scope shown on each company card.

FuboTV

$1.62B

Gaia

$0.10B

CuriosityStream

$0.07B

Kartoon Studios

$0.04B

Winvest Group

$0.00B

Latest profit margin

Company-card labels distinguish continuing-operations and net-income scope.

Gaia

-4.5%

CuriosityStream

-9.0%

FuboTV

-10.6%

Kartoon Studios

-62.3%

Winvest Group

-19183.3%

Prism news attention

Normalized share across these five names; attention is not quality.

FuboTV

77.0%

Gaia

19.6%

CuriosityStream

2.5%

Kartoon Studios

0.9%

Winvest Group

0.0%

03 · Prism readout

What the signals say—and what they do not

The headline share is normalized motion picture and video tape production news attention across these five names. Partial community coverage and U.S.-scope patent records are displayed separately and are not blended into it.

Scale + attention

FuboTV leads the conversation

It holds 77.0% of measured motion picture and video tape production news attention and also carries the basket's largest revenue base at $1.62B.

Price path

CuriosityStream leads the available price paths

Its monthly-close return is -74.8% for the five-year window. At the other end, Winvest Group is -100.0% for its five-year window. Windows printed on each card must be compared carefully; price history is not a forecast.

Profitability

Gaia has the widest latest margin

Its FY2025 net margin is -4.5%. Its revenue history in this snapshot spans only the periods printed on its card, so longer histories are not treated as equivalent.

Price vs operating signals

Gaia shows why one ratio is not a verdict

It has the basket's lowest snapshot P/E at -3.5x while its five-year window price return is -85.8%. Valuation, price path and readiness answer different questions.

04 · Research areas

Deeper Prism readout where coverage is dense

Shown only for companies with more than 800 available Prism news records. Counts describe the available research corpus, not company quality.

Areas of research · FUBO

FuboTV

41,513available Prism news records

Prism top themes

Earnings & financial performance

161

Price action & investor response

132

Capital allocation & transactions

109

Legal, arbitration & regulatory

Leadership & governance

Mapped subcategory tag occurrences; one article may contribute more than one tag. Since 2024-01-01.

News-volume growth

-45.7%2,293 latest 12m vs 4,220 prior 12m

Machine-classified coverage tone

89.0% positive-0.3 pp vs preceding four quarters

24Q4

25Q1

25Q2

25Q3

25Q4

26Q1

26Q2

26Q3

Tone of available coverage, not business performance or an investment outlook.

Frequent keywords

historic nba games 424nba team legends 336ncaa updates 325college playoffs 306lakers celtics rivalry 263campus sports 231sports coverage channels 222warriors cavaliers rivalry 221

Keyword tag occurrences in available Prism news records.

Coverage: 2015-01-07–2026-07-29 · trend and themes shown through 2026-07

Areas of research · CURI

CuriosityStream

1,321available Prism news records

Prism top themes

Price action & investor response

Earnings & financial performance

Leadership & governance

Legal, arbitration & regulatory

Capital allocation & transactions

Mapped subcategory tag occurrences; one article may contribute more than one tag. Since 2024-01-01.

News-volume growth

+8.2%92 latest 12m vs 85 prior 12m

Machine-classified coverage tone

93.3% positive+1.6 pp vs preceding four quarters

24Q3

24Q4

25Q1

25Q2

25Q3

25Q4

26Q1

26Q2

Tone of available coverage, not business performance or an investment outlook.

Frequent keywords

stock performance 14stock price 9special dividend 9dividend cut 8dividend payout 8dividend yield 8earnings report 8dividend declaration 8

Keyword tag occurrences in available Prism news records.

Coverage: 2015-01-14–2026-06-10 · trend and themes shown through 2026-06

Areas of research · GAIA

Gaia

10,565available Prism news records

Prism top themes

Earnings & financial performance

Mapped subcategory tag occurrences; one article may contribute more than one tag. Since 2024-01-01.

News-volume growth

-24.1%1,456 latest 12m vs 1,918 prior 12m

Machine-classified coverage tone

88.5% positive-1.1 pp vs preceding four quarters

24Q3

24Q4

25Q1

25Q2

25Q3

25Q4

26Q1

26Q2

Tone of available coverage, not business performance or an investment outlook.

Frequent keywords

spiritual awakening 452milky way structure 273milky way dynamics 248mystical experience 245astronomical data analysis 230galactic structure 230milky way mapping 225mindfulness 202

Keyword tag occurrences in available Prism news records.

Coverage: 2010-01-01–2026-06-25 · trend and themes shown through 2026-06

05 · Community discussion

Common topics where conversation clears the gate

Shown only above 25 entity-matched mentions. Coverage is partial and topic counts exclude identified namesake noise.

FUBO

FuboTV

737 mentions

Stock and valuation

349

Products, pricing and logistics

190

Other company context

Workplace and hiring

Partial entity-matched community coverage; namesake noise is excluded before topic aggregation. 737 records remained after filtering.

CURI

CuriosityStream

96 mentions

Products, pricing and logistics

Stock and valuation

Partial entity-matched community coverage; namesake noise is excluded before topic aggregation. 96 records remained after filtering.

GAIA

Gaia

3,321 mentions

Products, pricing and logistics

794

Stock and valuation

Workplace and hiring

Other company context

Partial entity-matched community coverage; namesake noise is excluded before topic aggregation. 3,321 records remained after filtering.

06 · Company event log

Common news types and recent highlights

Event patterns and selected recent headlines come from available Prism company-event records since 2023. Obvious forecast, holdings, duplicate and retrospective noise is filtered.

FUBO

FuboTV

through 2026-04-07

Earnings releases 43Lawsuits 33Business contracts 13M&A 13Company announcements 3

2026-04-07
Earnings releases
It expects a compound annual growth rate (CAGR) in adjusted EBITDA of more than 80 percent, based on the midpoint of its FY 2026 pro forma guidance range of USD 90 million, and its 2028 target of at least USD 300 million in adjusted EBITDA.
2025-11-25
Business contracts
Fubo offered to distribute Versant channels for one year.
2025-11-04
M&A
On October 29, 2025, FuboTV Inc. and The Walt Disney Company completed a combination of FuboTV's operations with Disney's Hulu + Live TV, creating the sixth-largest Pay TV provider in the U.S. with nearly 6 million subscribers and Disney holding a 70% stake in the new entity.

Prism company-event records; exact duplicates and evident forecast, holdings and retrospective noise are excluded.

CURI

CuriosityStream

through 2026-02-05

Earnings releases 16Leadership changes 1Listing / IPO 1

2026-02-05
Leadership changes
John Vilade to the role, effective immediately.
2025-11-15
Earnings releases
CuriosityStream (CURI) just reported a 46% jump in revenue for the third quarter
2025-09-02
Listing / IPO
CuriosityStream's recent strategic moves, including a US$24.5 million equity offering and partnerships with DIRECTV and Prime Video, highlight its growth trajectory in the factual streaming space.

Prism company-event records; exact duplicates and evident forecast, holdings and retrospective noise are excluded.

TOON

Kartoon Studios

through 2026-04-17

Company announcements 35Earnings releases 17Leadership changes 6Business contracts 1

2026-04-17
Earnings releases
The company reported 21% revenue growth to $39.4 million, with its production arm Mainframe Studios delivering 50% growth, while operating losses improved 24% year-over-year.
2025-11-19
Company announcements
A major highlight for 2025 is the official launch of STAN A.I., the company's advanced AI-driven animation initiative inspired by the late Stan Lee.
2025-05-28
Leadership changes
He has been promoted from his U.S.-focused role as President of Toon Media Networks to take on the wider Kartoon Channel business.

Prism company-event records; exact duplicates and evident forecast, holdings and retrospective noise are excluded.

GAIA

Gaia

through 2026-05-04

Earnings releases 14

2026-05-04
Earnings releases
Gaia reported Q1 FY2026 revenue of $24.3M and net income of $-1.3M in the official-filing series.
2026-03-06
Earnings releases
Gaia reported FY2025 revenue of $99.0M and net income of $-4.5M in the official-filing series.
2025-11-04
Earnings releases
Gaia reported Q3 FY2025 revenue of $25.0M and net income of $-1.2M in the official-filing series.

Cached Prism company-event evidence fallback; totals describe available coverage and the displayed highlights prefer filing-backed earnings rows.

WNLV

Winvest Group

through 2025-03-06

Company announcements 4

2025-03-06
Company announcements
Winvest Group Limited (OTCQB:WNLV) ("Winvest"), an investment holding company with diverse media, entertainment, and technology portfolios, is pleased to announce that its subsidiary IQI Media Inc. will be offering beta demos of Launchrr, its proprietary SaaS solution for the film and television industry, in the second quarter of 2025.
2025-03-06
Company announcements
"Winvest will be heavily investing in Launchrr's Phase 2 development," said Jeffrey Wong, CEO of Winvest.
2024-02-07
Company announcements
Units are now available in IQI Media Inc. that will fund the next stages of Launchrr’s development. There is a minimum purchase of 1 Unit for $250,000.

Prism company-event records; exact duplicates and evident forecast, holdings and retrospective noise are excluded.

07 · Industry landscape

Motion Picture And Video Tape Production Industry in USA

A bottom-of-page sector lens combining Prism's exact U.S. market-growth extraction with tightly matched U.S.-primary motion picture and video tape production news. It adds context to the stock basket without turning industry signals into a recommendation.

Prism market forecast extraction

motion picture market

2 sources57.9% extraction confidence

2019 extracted base$42.21B

2027 extracted forecast$43.96B–$73.61B

Implied source CAGR10.1%

Rise in expenditure on entertainmentcrowdfunding for financing filmgovernment initiative to support the motion picture industry

Multi-source card returned by Prism's /special_extraction market-growth service. Extracted geography mix: Global. This is a dated market benchmark, not a forecast for the five-stock basket.

Prism news insights

U.S. Motion Picture And Video Tape Production news pulse

189,299available Prism news records

Latest 12m volume+8.9%83886 vs 77037 records

Positive classified tone74.3%+5.7 pp vs prior four quarters

24Q4

25Q1

25Q2

25Q3

25Q4

26Q1

26Q2

26Q3

Available U.S.-primary Prism records matching motion, picture, production, tape, video. Metadata counts can overlap; coverage volume and tone are not measures of industry output.

Recurring Prism themes

behind-the-scenes of film/tv productions

23,398

movie and tv show premieres

18,126

streaming platform original content deals

13,890

rising stars and breakout roles

8,147

faculty tenure and promotion processes

7,342

orbital mechanics and celestial motion calculations

6,619

Metadata occurrences; one record can contribute more than one theme.

Frequent industry keywords

netflix 3,476shelter pet adoption 2,945film production company 2,788animal shelter adoption 2,767film production entity 2,749free bet promotions 2,602movie studio 2,530risk-free bets 2,517

Counts cover the matched industry corpus, not the broader company-news totals above.

Curated signal map

Opportunity and caution, side by side

Evidence prompts—not probabilities.

Opportunity · market driver

Rise in expenditure on entertainment

2 forecast sources

A recurring driver in the extracted market evidence provides a measurable research thread for the sector.

Prism /special_extraction market-growth card

Opportunity · demand

behind-the-scenes of film/tv productions

23,398 matched theme records

The largest current Prism news theme shows where sector attention and reported activity are concentrating.

Prism U.S. news metadata

Opportunity · innovation

Innovation and product activity

17,648 matched news records

Technology, product and R&D metadata provide an auditable view of the sector's innovation conversation.

Unique news records matching the curated innovation rule

Caution · market restraint

piracy

5,255 macro/risk records

The extracted restraint and the measured macro-news pulse belong in the downside research frame.

Prism market-growth restraint plus U.S. news metadata

Caution · news pulse

Coverage growth can reverse

+8.9% news volume

The latest 12 months contain 83,886 matched records versus 77,037 in the previous window.

Available Prism coverage through 2026-05-26

Caution · sentiment

Classified tone is not demand

74.3% positive · +5.7pp

Machine-classified news tone is useful context, but it is not revenue, output or a return forecast.

Eight-quarter Prism sentiment series

Opportunity and caution cards are curated research prompts grounded in the counts shown; they are not probabilities, recommendations or forecasts. News coverage runs 2024-01-01–2026-05-26; the latest quarter may be partial.

Explore the broader U.S. industrial landscape →

08 · Scope and sources

How to read this snapshot

Basket and ranking

Five U.S.-listed issuers classified under SEC SIC 7812 (Motion Picture And Video Tape Production), selected as the first five names that pass all live publication gates from the latest filing revenue candidate pool ranked 1–6. Every candidate has complete cached readiness evidence. This is a research cohort, not a recommendation.

Companies are ordered by the Fliar BI Prism readiness score used by the Prism Finance USA source pack. The score is a research signal, not a recommendation.

Evidence used

Official annual filingsFY revenue history and latest profitability
U.S. exchange market snapshotDated price, 52-week range, P/E, market capitalisation and monthly-close return
Fliar BI PrismReadiness, company and industry news, community context and U.S.-scope patent records
Prism market-growth extractionDated third-party Motion Picture And Video Tape Production Industry in USA market benchmark with source-count, geography and confidence context

Important: Research and educational information only. Not investment advice, a recommendation, or a live-price service. Market figures are dated as of 11 September 2026.

09 · Final derived analysis

Conclusions, comparisons, anomalies, explanations and decisions

A final evidence-linked synthesis of the metrics already displayed above. Every named company opens its actual Companies Radar profile.

Conclusions

FuboTV leads the readiness ranking

Its Prism readiness score is 54/100, the highest in this five-company comparison.

Open FuboTV in Companies Radar

Scale and margin leadership sit with FuboTV and Gaia

FuboTV has the largest displayed latest revenue at $1.62B; Gaia has the widest displayed latest margin at -4.5%.

Open FuboTV in Companies Radar Open Gaia in Companies Radar

Comparisons

Strongest versus weakest available price path

CuriosityStream is -74.8% for its five-year window; Winvest Group is -100.0% for its five-year window.

Open CuriosityStream in Companies Radar Open Winvest Group in Companies Radar

Largest versus smallest displayed revenue base

The latest displayed revenue ranges from $1.62B for FuboTV to $0.00B for Winvest Group. Entity and filing-period labels remain visible on the company cards.

Open FuboTV in Companies Radar Open Winvest Group in Companies Radar

Anomalies

Gaia has the widest attention-readiness rank gap

It ranks #2 by measured news attention (19.6%) and #4 by Prism readiness. The gap is a review flag, not evidence that either measure is wrong.

Open Gaia in Companies Radar

Kartoon Studios shows a price-operating divergence to inspect

Its displayed filing-revenue change is +4234.1% while its available monthly-close return is -95.5%. The signs differ, but the two measures cover different windows and do not establish causality.

Open Kartoon Studios in Companies Radar

Explanations

Attention measures coverage volume, not quality

FuboTV's 77.0% share says it appears most often in the matched Prism corpus. It does not score whether that coverage is favourable or whether the company is investable.

Open FuboTV in Companies Radar

Different windows explain why signals can disagree

Revenue comes from the printed filing periods, price paths use the dated monthly-close windows, and Prism signals use their stated event windows. No causal attribution is made across them.

Research decisions

Verify the readiness leader in Companies Radar

Open FuboTV's company profile and inspect the underlying management, market-activity, innovation and risk evidence before relying on the 54/100 score.

Open FuboTV in Companies Radar

Stress-test the largest divergence before forming a view

Compare Kartoon Studios's profile with CuriosityStream's profile, then reconcile the displayed filing and price windows. This is a next-research action, not a buy or sell decision.

Open Kartoon Studios in Companies Radar Open CuriosityStream in Companies Radar

Method boundary: These are deterministic comparisons of the displayed snapshot fields. They flag relationships for further research, do not establish causality and are not investment recommendations.