Bone Biologics [BBLG] - Last Close: $0.5431 Bone Biologics is seeing a lot of volume this morning. Shares have been trending higher since the tiny biotech released its latest quarterly results on Nov. 14th. According to its latest results, the pre-revenue firm’s operating loss widened, expenses increased, and its on-hand cash reserves fell compared to last year. At first glance, the numbers seem pretty grim, but BBLG gained 8.6% and saw a huge volume spike on Wednesday. Today, BBLG is extending yesterday’s rally. Shares are up 53.1%, and it’s one of the most active-traded stocks in today’s premarket. My Take: BBLG is a very small-float stock with a $1.7 million market cap. The recent earnings report was pretty lackluster, so I think this could be a targeted effort to drive up share prices. Watch out for a pullback. WaveDancer [WAVD] - Last Close: $1.58
WaveDance just landed a big merger deal. This morning, the company announced a definitive merger agreement for an all-stock deal with privately-held Firefly Neuroscience. Under the agreement, shares of Firefly stock would be converted into WAVD common stock upon closing. Upon closing, which is expected in Q1 2024, Firefly shareholders will be 92% owners of the combined company. WAVD is leading the premarket with a 96.9% gain on the news. My Take: WAVD’s big surge could be a sign that the market has an appetite for shares of privately-heald Firefly Neuroscience. Ault Alliance [AULT] - Last Close: $0.106
A business update is boosting shares of Ault Alliance. Today, the company announced its Sentinum subsidiary is now capable of deploying 40 AI clusters with advanced GPU from Nvidia and AMD. The complex is located at the company’s state-of-the-art data center in Michigan, and capacity could expand further when its center in Montana goes online. At a Bitcoin price of $37,500, Sentinum’s Bitcoin mining operations’ annual run rate is expected to exceed $60 million worth of Bitcoin. AULT is one of this morning’s most active stocks, and it’s up 21.7%. My Take: AULT’s rally has some nice volume behind it, so we could see more gains ahead for this stock, especially if BTC prices continue to rise. HNR Acquisitions [HNRA] - Last Close: $6.77
HNR Acquisitions has completed its business combination. Yesterday, the SPAC announced the official closing of its business combination with Pogo Resources and its subsidiaries. The deal included Pogo’s interests in the Grayburg-Jackson oil field on the Permian Basin in Eddy County, New Mexico, and other assets. HNRA is up 15.3% on elevated premarket trading volume. My Take: HNRA claims Pogo has enormous growth potential, but the commodities sector, particularly domestic oil, is always uncertain. GainersEducational Development [EDUC] >> +22.0%Minerva Surgical [UTRS] >> +15.7%InVivo Therapeutics [NVIV] >> +13.5% DeclinersVolcon [VLCN] >> (38.4%)Augmedix [AUGX] >> (26.5%)Foremost Lithium [FMST] >> (22.9%) Walmart [WMT] ... AM Alibaba Group Holdings [BABA] ... AM Warner Music Group [WMG] ... AM Williams-Sonoma [WSM] ... AM Applied Materials [AMAT] ... PM Copart [CPRT] ... PM Ross Stores [ROST] ... PM Dolby Laboratories [DLB] ... PM Woodward [WWD] ... PM Globant [GLOB] ... PM Weekly Jobless Claims ... 8:30aImport Price Index [Oct] ... 8:30aIndustrial Production [Oct] ... 9:15aHome Builder Confidence Index [Nov] ... 10a |