Ratings of the last 12 months
This list shows every rating MEQIRI has published for a stock, an ETF or a coin, and every change between Strong, Neutral and Weak. For stocks it also shows every valuation signal and its changes.
Counted from the public launch on 7 Nov 2026.
- Price target: none, MEQIRI does not give price targets.
- Fair value: for the valuation signal, that day's fair value, converted like the price. An estimate from the disclosed model, not a price target.
- Validity: until the rating or the valuation signal changes, time horizon about 12 months, recalculated every night.
- Price: last close before publication, converted into dollars at that day's ECB rate; ETFs in euros.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
12,971 entries
- RPM International Inc.7 Nov 2026Neutral (first rating), Score 67, $103.31
- RPM International Inc.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $134.28, $103.31
- RTL Group S.A.7 Nov 2026Neutral (first rating), Score 57, $36.79
- RTL Group S.A.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $43.44, $36.79
- RTX Corporation7 Nov 2026Neutral (first rating), Score 59, $189.53
- RTX Corporation7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $169.61, $189.53
- RVRC Holding AB (publ)7 Nov 2026Strong (first rating), Score 78, $5.51
- RVRC Holding AB (publ)7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $5.97, $5.51
- RWE AG7 Nov 2026Weak (first rating), Score 49, $64.36
- RWE AG7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $55.40, $64.36
- RXO, Inc.7 Nov 2026Weak (first rating), Score 42, $27.60
- RXO, Inc.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $21.21, $27.60
- Rackspace Technology, Inc.7 Nov 2026Weak (first rating), Score 37, $2.53
- Rackspace Technology, Inc.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $5.30, $2.53
- RadNet, Inc.7 Nov 2026Weak (first rating), Score 44, $76.00
- RadNet, Inc.7 Nov 2026Valuation signal Overvalued (first signal), Fair value $21.19, $76.00
- Radian Group Inc.7 Nov 2026Strong (first rating), Score 74, $35.97
- Radian Group Inc.7 Nov 2026Valuation signal Undervalued (first signal), Fair value $54.59, $35.97
- Radiant Logistics, Inc.7 Nov 2026Neutral (first rating), Score 58, $8.89
- Radiant Logistics, Inc.7 Nov 2026Valuation signal Overvalued (first signal), Fair value $5.19, $8.89
- Radico Khaitan Limited7 Nov 2026Strong (first rating), Score 76, $48.07
- Radico Khaitan Limited7 Nov 2026Valuation signal Overvalued (first signal), Fair value $13.96, $48.07
- Radware Ltd.7 Nov 2026Neutral (first rating), Score 56, $29.84
- Radware Ltd.7 Nov 2026Valuation signal Overvalued (first signal), Fair value $12.32, $29.84
- Rai Way S.p.A.7 Nov 2026Strong (first rating), Score 71, $4.70
- Rai Way S.p.A.7 Nov 2026Valuation signal Undervalued (first signal), Fair value $5.65, $4.70
- Raiffeisen Bank International AG7 Nov 2026Strong (first rating), Score 71, $65.37
- Raiffeisen Bank International AG7 Nov 2026Valuation signal Undervalued (first signal), Fair value $102.12, $65.37
- Rainbow Tours S.A.7 Nov 2026Strong (first rating), Score 70, $31.34
- Rainbow Tours S.A.7 Nov 2026Valuation signal Undervalued (first signal), Fair value $60.52, $31.34
- Raisio plc7 Nov 2026Neutral (first rating), Score 55, $2.43
- Raisio plc7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $3.04, $2.43
- Rakuten Bank, Ltd.7 Nov 2026Neutral (first rating), Score 69, $36.32
- Rakuten Bank, Ltd.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $47.13, $36.32
- Rakuten Group, Inc.7 Nov 2026Weak (first rating), Score 35, $3.92
- Rakuten Group, Inc.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $13.87, $3.92
- Ralliant Corp7 Nov 2026Neutral (first rating), Score 53, $67.68
- Ralliant Corp7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $58.87, $67.68
- Ralph Lauren Corporation7 Nov 2026Strong (first rating), Score 77, $376.56
- Ralph Lauren Corporation7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $415.95, $376.56
- Ramaco Resources, Inc.7 Nov 2026Weak (first rating), Score 31, $6.24
- Ramaco Resources, Inc.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $6.23, $6.24
- Rambus Inc.7 Nov 2026Neutral (first rating), Score 65, $74.53
- Rambus Inc.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $71.76, $74.53
- Ramsay Générale de Santé S.A.7 Nov 2026Weak (first rating), Score 39, $9.87
- Ramsay Générale de Santé S.A.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value not meaningful, $9.87
- Randstad N.V.7 Nov 2026Neutral (first rating), Score 61, $46.04
- Randstad N.V.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $52.43, $46.04
- Neutral (first rating), Score 52, $8.63
- Valuation signal Overvalued (first signal), Fair value $3.22, $8.63
- Range Resources Corporation7 Nov 2026Neutral (first rating), Score 69, $48.72
- Range Resources Corporation7 Nov 2026Valuation signal Undervalued (first signal), Fair value $73.71, $48.72
- Rapid7, Inc.7 Nov 2026Neutral (first rating), Score 50, $14.68
- Rapid7, Inc.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $14.87, $14.68
- Rapport Therapeutics, Inc.7 Nov 2026Weak (first rating), Score 32, $24.44
- Rational AG7 Nov 2026Strong (first rating), Score 80, $696.14
- Rational AG7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $656.30, $696.14
- Ratos AB (publ)7 Nov 2026Neutral (first rating), Score 50, $4.17
- Ratos AB (publ)7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $6.88, $4.17
- RaySearch Laboratories AB (publ)7 Nov 2026Neutral (first rating), Score 68, $17.89
- RaySearch Laboratories AB (publ)7 Nov 2026Valuation signal Undervalued (first signal), Fair value $27.37, $17.89
- Raymond James Financial, Inc.7 Nov 2026Strong (first rating), Score 76, $162.81
- Raymond James Financial, Inc.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $126.19, $162.81
- Rayonier Advanced Materials Inc.7 Nov 2026Weak (first rating), Score 28, $5.90
- Rayonier Inc. REIT7 Nov 2026Weak (first rating), Score 48, $21.55
- Rayonier Inc. REIT7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $16.25, $21.55
- Raytron Technology Co.,Ltd.7 Nov 2026Strong (first rating), Score 75, $18.55
- Raytron Technology Co.,Ltd.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $25.55, $18.55
- ReNew Energy Global Plc7 Nov 2026Neutral (first rating), Score 51, $6.93
- ReNew Energy Global Plc7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $11.89, $6.93
- Realia Business, S.A.7 Nov 2026Neutral (first rating), Score 69, $1.11
- Realia Business, S.A.7 Nov 2026Valuation signal Undervalued (first signal), Fair value $1.38, $1.11
- Realtek Semiconductor Corp.7 Nov 2026Strong (first rating), Score 77, NT$708.00
- Realtek Semiconductor Corp.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value NT$873.31, NT$708.00
- Realty Income Corporation7 Nov 2026Neutral (first rating), Score 59, $59.04
- Realty Income Corporation7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $64.37, $59.04
- Reckitt Benckiser Group plc7 Nov 2026Strong (first rating), Score 71, $74.81
- Reckitt Benckiser Group plc7 Nov 2026Valuation signal Undervalued (first signal), Fair value $108.01, $74.81
- Strong (first rating), Score 77, $59.45
- Valuation signal Undervalued (first signal), Fair value $73.66, $59.45
- Recruit Holdings Co., Ltd.7 Nov 2026Strong (first rating), Score 82, $107.37
- Recruit Holdings Co., Ltd.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $93.95, $107.37
- Recticel SA/NV7 Nov 2026Neutral (first rating), Score 61, $13.80
- Recticel SA/NV7 Nov 2026Valuation signal Undervalued (first signal), Fair value $22.65, $13.80
- Recursion Pharmaceuticals, Inc.7 Nov 2026Weak (first rating), Score 37, $3.52
- Red Cat Holdings, Inc.7 Nov 2026Weak (first rating), Score 31, $4.04
- Red River Bancshares, Inc.7 Nov 2026Strong (first rating), Score 72, $103.55
- Red River Bancshares, Inc.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $87.98, $103.55
- Red Rock Resorts, Inc.7 Nov 2026Neutral (first rating), Score 54, $48.22
- Red Rock Resorts, Inc.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $53.37, $48.22
- Red Violet, Inc.7 Nov 2026Neutral (first rating), Score 68, $70.10
- Red Violet, Inc.7 Nov 2026Valuation signal Overvalued (first signal), Fair value $26.65, $70.10
- Redcare Pharmacy N.V.7 Nov 2026Weak (first rating), Score 47, $78.77
- Redcare Pharmacy N.V.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $286.98, $78.77
- Reddit, Inc.7 Nov 2026Neutral (first rating), Score 62, $95.10
- Reddit, Inc.7 Nov 2026Valuation signal Undervalued (first signal), Fair value $148.55, $95.10
- Rede D'Or São Luiz S.A.7 Nov 2026Neutral (first rating), Score 62, $6.13
- Rede D'Or São Luiz S.A.7 Nov 2026Valuation signal Undervalued (first signal), Fair value $12.51, $6.13
- Redeia Corporación, S.A.7 Nov 2026Neutral (first rating), Score 52, $17.48
- Redeia Corporación, S.A.7 Nov 2026Valuation signal Fairly valued (first signal), Fair value $20.12, $17.48
| Date | Security | Rating | Before | Score | Fair value | Price |
|---|---|---|---|---|---|---|
| 7 Nov 2026 | RPM International Inc. RPM | Neutral | first rating | 67 | $103.31 | |
| 7 Nov 2026 | RPM International Inc. RPM | Valuation signalFairly valued | first signal | $134.28 | $103.31 | |
| 7 Nov 2026 | RTL Group S.A. RRTL.DE | Neutral | first rating | 57 | $36.79 | |
| 7 Nov 2026 | RTL Group S.A. RRTL.DE | Valuation signalFairly valued | first signal | $43.44 | $36.79 | |
| 7 Nov 2026 | RTX Corporation RTX | Neutral | first rating | 59 | $189.53 | |
| 7 Nov 2026 | RTX Corporation RTX | Valuation signalFairly valued | first signal | $169.61 | $189.53 | |
| 7 Nov 2026 | RVRC Holding AB (publ) RVRC.ST | Strong | first rating | 78 | $5.51 | |
| 7 Nov 2026 | RVRC Holding AB (publ) RVRC.ST | Valuation signalFairly valued | first signal | $5.97 | $5.51 | |
| 7 Nov 2026 | RWE AG RWE.DE | Weak | first rating | 49 | $64.36 | |
| 7 Nov 2026 | RWE AG RWE.DE | Valuation signalFairly valued | first signal | $55.40 | $64.36 | |
| 7 Nov 2026 | RXO, Inc. RXO | Weak | first rating | 42 | $27.60 | |
| 7 Nov 2026 | RXO, Inc. RXO | Valuation signalFairly valued | first signal | $21.21 | $27.60 | |
| 7 Nov 2026 | Rackspace Technology, Inc. RXT | Weak | first rating | 37 | $2.53 | |
| 7 Nov 2026 | Rackspace Technology, Inc. RXT | Valuation signalFairly valued | first signal | $5.30 | $2.53 | |
| 7 Nov 2026 | RadNet, Inc. RDNT | Weak | first rating | 44 | $76.00 | |
| 7 Nov 2026 | RadNet, Inc. RDNT | Valuation signalOvervalued | first signal | $21.19 | $76.00 | |
| 7 Nov 2026 | Radian Group Inc. RDN | Strong | first rating | 74 | $35.97 | |
| 7 Nov 2026 | Radian Group Inc. RDN | Valuation signalUndervalued | first signal | $54.59 | $35.97 | |
| 7 Nov 2026 | Radiant Logistics, Inc. RLGT | Neutral | first rating | 58 | $8.89 | |
| 7 Nov 2026 | Radiant Logistics, Inc. RLGT | Valuation signalOvervalued | first signal | $5.19 | $8.89 | |
| 7 Nov 2026 | Radico Khaitan Limited RADICO.NS | Strong | first rating | 76 | $48.07 | |
| 7 Nov 2026 | Radico Khaitan Limited RADICO.NS | Valuation signalOvervalued | first signal | $13.96 | $48.07 | |
| 7 Nov 2026 | Radware Ltd. RDWR | Neutral | first rating | 56 | $29.84 | |
| 7 Nov 2026 | Radware Ltd. RDWR | Valuation signalOvervalued | first signal | $12.32 | $29.84 | |
| 7 Nov 2026 | Rai Way S.p.A. RWAY.MI | Strong | first rating | 71 | $4.70 | |
| 7 Nov 2026 | Rai Way S.p.A. RWAY.MI | Valuation signalUndervalued | first signal | $5.65 | $4.70 | |
| 7 Nov 2026 | Raiffeisen Bank International AG RBI.VI | Strong | first rating | 71 | $65.37 | |
| 7 Nov 2026 | Raiffeisen Bank International AG RBI.VI | Valuation signalUndervalued | first signal | $102.12 | $65.37 | |
| 7 Nov 2026 | Rainbow Tours S.A. RBW.WA | Strong | first rating | 70 | $31.34 | |
| 7 Nov 2026 | Rainbow Tours S.A. RBW.WA | Valuation signalUndervalued | first signal | $60.52 | $31.34 | |
| 7 Nov 2026 | Raisio plc RAIVV.HE | Neutral | first rating | 55 | $2.43 | |
| 7 Nov 2026 | Raisio plc RAIVV.HE | Valuation signalFairly valued | first signal | $3.04 | $2.43 | |
| 7 Nov 2026 | Rakuten Bank, Ltd. 5838.T | Neutral | first rating | 69 | $36.32 | |
| 7 Nov 2026 | Rakuten Bank, Ltd. 5838.T | Valuation signalFairly valued | first signal | $47.13 | $36.32 | |
| 7 Nov 2026 | Rakuten Group, Inc. 4755.T | Weak | first rating | 35 | $3.92 | |
| 7 Nov 2026 | Rakuten Group, Inc. 4755.T | Valuation signalFairly valued | first signal | $13.87 | $3.92 | |
| 7 Nov 2026 | Ralliant Corp RAL | Neutral | first rating | 53 | $67.68 | |
| 7 Nov 2026 | Ralliant Corp RAL | Valuation signalFairly valued | first signal | $58.87 | $67.68 | |
| 7 Nov 2026 | Ralph Lauren Corporation RL | Strong | first rating | 77 | $376.56 | |
| 7 Nov 2026 | Ralph Lauren Corporation RL | Valuation signalFairly valued | first signal | $415.95 | $376.56 | |
| 7 Nov 2026 | Ramaco Resources, Inc. METC | Weak | first rating | 31 | $6.24 | |
| 7 Nov 2026 | Ramaco Resources, Inc. METC | Valuation signalFairly valued | first signal | $6.23 | $6.24 | |
| 7 Nov 2026 | Rambus Inc. RMBS | Neutral | first rating | 65 | $74.53 | |
| 7 Nov 2026 | Rambus Inc. RMBS | Valuation signalFairly valued | first signal | $71.76 | $74.53 | |
| 7 Nov 2026 | Ramsay Générale de Santé S.A. GDS.PA | Weak | first rating | 39 | $9.87 | |
| 7 Nov 2026 | Ramsay Générale de Santé S.A. GDS.PA | Valuation signalFairly valued | first signal | not meaningful | $9.87 | |
| 7 Nov 2026 | Randstad N.V. RAND.AS | Neutral | first rating | 61 | $46.04 | |
| 7 Nov 2026 | Randstad N.V. RAND.AS | Valuation signalFairly valued | first signal | $52.43 | $46.04 | |
| 7 Nov 2026 | Range Intelligent Computing Technology Group Company Limited 300442.SZ | Neutral | first rating | 52 | $8.63 | |
| 7 Nov 2026 | Range Intelligent Computing Technology Group Company Limited 300442.SZ | Valuation signalOvervalued | first signal | $3.22 | $8.63 | |
| 7 Nov 2026 | Range Resources Corporation RRC | Neutral | first rating | 69 | $48.72 | |
| 7 Nov 2026 | Range Resources Corporation RRC | Valuation signalUndervalued | first signal | $73.71 | $48.72 | |
| 7 Nov 2026 | Rapid7, Inc. RPD | Neutral | first rating | 50 | $14.68 | |
| 7 Nov 2026 | Rapid7, Inc. RPD | Valuation signalFairly valued | first signal | $14.87 | $14.68 | |
| 7 Nov 2026 | Rapport Therapeutics, Inc. RAPP | Weak | first rating | 32 | $24.44 | |
| 7 Nov 2026 | Rational AG RAA.DE | Strong | first rating | 80 | $696.14 | |
| 7 Nov 2026 | Rational AG RAA.DE | Valuation signalFairly valued | first signal | $656.30 | $696.14 | |
| 7 Nov 2026 | Ratos AB (publ) RATO-B.ST | Neutral | first rating | 50 | $4.17 | |
| 7 Nov 2026 | Ratos AB (publ) RATO-B.ST | Valuation signalFairly valued | first signal | $6.88 | $4.17 | |
| 7 Nov 2026 | RaySearch Laboratories AB (publ) RAY-B.ST | Neutral | first rating | 68 | $17.89 | |
| 7 Nov 2026 | RaySearch Laboratories AB (publ) RAY-B.ST | Valuation signalUndervalued | first signal | $27.37 | $17.89 | |
| 7 Nov 2026 | Raymond James Financial, Inc. RJF | Strong | first rating | 76 | $162.81 | |
| 7 Nov 2026 | Raymond James Financial, Inc. RJF | Valuation signalFairly valued | first signal | $126.19 | $162.81 | |
| 7 Nov 2026 | Rayonier Advanced Materials Inc. RYAM | Weak | first rating | 28 | $5.90 | |
| 7 Nov 2026 | Rayonier Inc. REIT RYN | Weak | first rating | 48 | $21.55 | |
| 7 Nov 2026 | Rayonier Inc. REIT RYN | Valuation signalFairly valued | first signal | $16.25 | $21.55 | |
| 7 Nov 2026 | Raytron Technology Co.,Ltd. 688002.SS | Strong | first rating | 75 | $18.55 | |
| 7 Nov 2026 | Raytron Technology Co.,Ltd. 688002.SS | Valuation signalFairly valued | first signal | $25.55 | $18.55 | |
| 7 Nov 2026 | ReNew Energy Global Plc RNW | Neutral | first rating | 51 | $6.93 | |
| 7 Nov 2026 | ReNew Energy Global Plc RNW | Valuation signalFairly valued | first signal | $11.89 | $6.93 | |
| 7 Nov 2026 | Realia Business, S.A. RLIA.MC | Neutral | first rating | 69 | $1.11 | |
| 7 Nov 2026 | Realia Business, S.A. RLIA.MC | Valuation signalUndervalued | first signal | $1.38 | $1.11 | |
| 7 Nov 2026 | Realtek Semiconductor Corp. 2379.TW | Strong | first rating | 77 | NT$708.00 | |
| 7 Nov 2026 | Realtek Semiconductor Corp. 2379.TW | Valuation signalFairly valued | first signal | NT$873.31 | NT$708.00 | |
| 7 Nov 2026 | Realty Income Corporation O | Neutral | first rating | 59 | $59.04 | |
| 7 Nov 2026 | Realty Income Corporation O | Valuation signalFairly valued | first signal | $64.37 | $59.04 | |
| 7 Nov 2026 | Reckitt Benckiser Group plc 3RB.DE | Strong | first rating | 71 | $74.81 | |
| 7 Nov 2026 | Reckitt Benckiser Group plc 3RB.DE | Valuation signalUndervalued | first signal | $108.01 | $74.81 | |
| 7 Nov 2026 | Recordati Industria Chimica e Farmaceutica S.p.A. REC.MI | Strong | first rating | 77 | $59.45 | |
| 7 Nov 2026 | Recordati Industria Chimica e Farmaceutica S.p.A. REC.MI | Valuation signalUndervalued | first signal | $73.66 | $59.45 | |
| 7 Nov 2026 | Recruit Holdings Co., Ltd. 6098.T | Strong | first rating | 82 | $107.37 | |
| 7 Nov 2026 | Recruit Holdings Co., Ltd. 6098.T | Valuation signalFairly valued | first signal | $93.95 | $107.37 | |
| 7 Nov 2026 | Recticel SA/NV RECT.BR | Neutral | first rating | 61 | $13.80 | |
| 7 Nov 2026 | Recticel SA/NV RECT.BR | Valuation signalUndervalued | first signal | $22.65 | $13.80 | |
| 7 Nov 2026 | Recursion Pharmaceuticals, Inc. RXRX | Weak | first rating | 37 | $3.52 | |
| 7 Nov 2026 | Red Cat Holdings, Inc. RCAT | Weak | first rating | 31 | $4.04 | |
| 7 Nov 2026 | Red River Bancshares, Inc. RRBI | Strong | first rating | 72 | $103.55 | |
| 7 Nov 2026 | Red River Bancshares, Inc. RRBI | Valuation signalFairly valued | first signal | $87.98 | $103.55 | |
| 7 Nov 2026 | Red Rock Resorts, Inc. RRR | Neutral | first rating | 54 | $48.22 | |
| 7 Nov 2026 | Red Rock Resorts, Inc. RRR | Valuation signalFairly valued | first signal | $53.37 | $48.22 | |
| 7 Nov 2026 | Red Violet, Inc. RDVT | Neutral | first rating | 68 | $70.10 | |
| 7 Nov 2026 | Red Violet, Inc. RDVT | Valuation signalOvervalued | first signal | $26.65 | $70.10 | |
| 7 Nov 2026 | Redcare Pharmacy N.V. RDC.DE | Weak | first rating | 47 | $78.77 | |
| 7 Nov 2026 | Redcare Pharmacy N.V. RDC.DE | Valuation signalFairly valued | first signal | $286.98 | $78.77 | |
| 7 Nov 2026 | Reddit, Inc. RDDT | Neutral | first rating | 62 | $95.10 | |
| 7 Nov 2026 | Reddit, Inc. RDDT | Valuation signalUndervalued | first signal | $148.55 | $95.10 | |
| 7 Nov 2026 | Rede D'Or São Luiz S.A. RDOR3.SA | Neutral | first rating | 62 | $6.13 | |
| 7 Nov 2026 | Rede D'Or São Luiz S.A. RDOR3.SA | Valuation signalUndervalued | first signal | $12.51 | $6.13 | |
| 7 Nov 2026 | Redeia Corporación, S.A. RED.MC | Neutral | first rating | 52 | $17.48 | |
| 7 Nov 2026 | Redeia Corporación, S.A. RED.MC | Valuation signalFairly valued | first signal | $20.12 | $17.48 |
Legal basis: Article 4(1)(i) of Delegated Regulation (EU) 2016/958.
To the disclosures