STOCKS TELEGRAPH

Author: Wasim Omar

  • Exicure, Inc. Experiences Dramatic Afterhours Fall

    Exicure, Inc. (NASDAQ: XCUR) experienced a dramatic stock price movement on Friday, showcasing a rollercoaster day for investors. The biotechnology firm saw its stock soar by an astonishing 76% during the regular trading session.

    This significant gain was fueled by market anticipation of an upcoming shareholder vote on a proposed reverse stock split. However, the excitement was short-lived as the company’s stock faced a severe correction afterhours, plummeting by 26% within a few hours of the trading session’s close.

    Afterhours Decline Follows Friday Surge

    The sharp drop in Exicure’s stock price after the market closed marks a stark contrast to the earlier surge. The dramatic rise in the stock price was largely attributed to market optimism surrounding the company’s potential reverse stock split.

    On July 26, Exicure’s shareholders will vote on whether to approve a reverse split ratio ranging from 1-for-2 to 1-for-15. This move is intended to boost the stock price above the $1.00 per share minimum required for continued listing on Nasdaq. Despite the initial positive reaction, the afterhours decline suggests that investors may have begun to reassess the implications of the proposed split and the company’s ongoing financial stability.

    Exicure Strategic Moves and Market Reactions

    Exicure, which focuses on nucleic acid therapies for RNA targets, has been navigating significant restructuring and strategic shifts. Following a suspension of clinical activities, the company is exploring strategic alternatives to enhance shareholder value. The urgency to regain compliance with Nasdaq’s listing requirements has prompted the reverse stock split proposal. The firm has already faced a similar situation in June 2022, when a 1-for-30 reverse split briefly achieved compliance before stock prices fell again.

    The recent market reaction underscores the volatility and uncertainty surrounding Exicure’s future. While the initial surge in stock price indicated strong investor interest, the subsequent afterhours correction reflects concerns about the effectiveness of the proposed split and the company’s overall financial health. As the shareholder vote approaches, the outcome will likely be a critical determinant of Exicure’s path forward.

    Conclusion

    Exicure, Inc. has seen a remarkable yet volatile trading day, highlighted by an extraordinary premarket surge followed by a significant afterhours drop. With the shareholder vote on the reverse stock split approaching, all eyes will be on how this decision impacts the company’s stock performance and its standing on Nasdaq.

  • Stryve Foods, Inc. Sees Significant Afterhours Surge

    Stryve Foods, Inc. Sees Significant Afterhours Surge

    Stryve Foods, Inc. (NASDAQ: SNAX) experienced a notable shift in its stock performance after the regular trading hours on Friday. Despite a modest 1.6% decline during the day session, the stock made a dramatic rebound in afterhours trading. By the end of the extended session, SNAX had surged by an impressive 21%. This sudden spike comes without any new public developments or announcements, leading to speculation about potential profit-taking or further bullish momentum in the coming days.

    Stryve Overview and Market Position

    Stryve Foods specializes in premium air-dried meat snacks, a niche market that emphasizes high protein content and health benefits. The company’s portfolio includes well-known brands such as Braaitime, Kalahari, and Vacadillos. Stryve differentiates itself with snacks that are low in sugar and carbohydrates, and high in protein, catering to health-conscious consumers.

    Unlike traditional beef jerky, Stryve’s products are all-natural, containing no sugar, MSG, gluten, nitrates, nitrites, or preservatives, making them suitable for Keto and Paleo diets. Additionally, Stryve offers human-grade pet treats under the Two Tails brand, made from simple, natural ingredients.

    Stryve Foods distributes its products across various retail channels in North America, including grocery stores, convenience outlets, and mass merchants. The company also sells directly to consumers through its e-commerce platforms, as well as on Amazon and Walmart.

    Market Reactions and Future Outlook

    The stock’s sharp afterhours rise raises questions about sustainability. With trading volumes remaining relatively low, there is concern that this rapid increase may not be maintained, and a potential correction could occur during Monday’s regular session. Social media speculation suggests that either the float is becoming more restricted or there is growing market confidence in Stryve’s progress.

    Earlier this month, Stryve announced Kevin Vivian as the new Chairman of the Board, replacing Ted Casey, who was praised for his strategic contributions and leadership. Chris Boever, CEO of the company, acknowledged Casey’s impact on the company’s development and praised the innovative manufacturing processes that underpin the company’s unique product offerings. The recent management change and the stock’s afterhours performance may indicate shifting dynamics within the company and its market perception.

    Conclusion

    In summary, while SNAX has captured attention with its afterhours rally, the stock’s future performance will depend on whether it can sustain the momentum and how it adapts to ongoing market conditions.

  • Netcapital Sees Massive Surge Announcing Beta Platform

    Netcapital Sees Massive Surge Announcing Beta Platform

    Netcapital Inc. (NASDAQ: NCPL) experienced a remarkable trading session on Friday, with its stock soaring by 12% during regular market hours. However, the company’s impressive performance didn’t stop there. As trading concluded for the day, NCPL continued to gain momentum in afterhours trading, witnessing a dramatic 31% surge in its stock price.

    Netcapital Platform Launch Drives Optimism

    The catalyst for this afterhours rally was the company’s announcement of a beta version for its new secondary trading platform. This platform, which is currently available to a select group of users, represents a significant advancement for Netcapital’s fintech operations. Through a collaboration with Templum Markets LLC, Netcapital aims to offer secondary trading capabilities for investors who previously acquired stock through its funding portal.

    Templum, known for its alternative trading system (ATS), operates in all 53 U.S. states and territories, facilitating the trading of private securities. The company plans to extend this secondary trading feature to all of its issuers and investors by the end of 2024, subject to regulatory approval.

    High Trading Volume and Technical Analysis

    The excitement surrounding the new platform is reflected in the trading volume, which reached 30 million shares, nearly triple the average daily volume. This surge in activity underscores investor confidence and interest in Netcapital’s innovative approach. Technical analysts are observing that NCPL’s stock may be rebounding from a period of overselling. The stock has recently closed above its 20-day moving average, and if it continues to climb, it could approach its 50-day moving average, suggesting potential further gains.

    Conclusion

    Netcapital Inc.’s strong afterhours performance highlights the market’s enthusiasm for its new trading platform and the overall bullish sentiment surrounding the company. As investors await further developments, including potential regulatory hurdles, the impressive trading volume and technical indicators suggest that NCPL might be on the verge of a significant upward trend. Traders and analysts will be closely watching for continued momentum as the market opens on Monday.

  • CISO Global Sees Dramatic Surge Following Security Solution

    CISO Global Sees Dramatic Surge Following Security Solution

    CISO Global Inc. (NASDAQ: CISO) has captured significant market attention recently. Thursday’s regular trading session saw a modest decline of 0.7%, but the after-hours session painted a very different picture. In the span of just a few hours, CISO experienced a dramatic price surge, posting a staggering 36% gain. This unexpected bullish movement followed the company’s announcement of a major breakthrough in cybersecurity.

    CISO Global’s Breakthrough in Cybersecurity

    The catalyst behind CISO’s after-hours surge was the announcement that the company had developed a comprehensive solution to address a global IT outage caused by a faulty update to CrowdStrike’s Falcon Sensor V6.58. This update had triggered a Blue Screen of Death (BSOD) on numerous Windows machines worldwide, rendering them inoperable and causing significant disruptions. The issue stemmed from critical faults in the Falcon Sensor’s driver interactions with the Windows kernel, leading to fatal system errors upon startup.

    The company’s Incident Response team meticulously studied the affected networks and crafted a straightforward, step-by-step solution to restore normal operations. The solution, now being deployed to affected customers, offers a clear path to recovery, mitigating the widespread impact of this significant security incident. David Jemmett, CEO of CISO Global, emphasized the importance of strong network resiliency and hinted at the potential lessons to be learned from this event, whether it was due to human error or a cyber attack.

    Market Reaction and Trading Volume

    The market’s reaction to CISO’s announcement was swift and substantial. Trading volume surged to 2.5 million shares, far exceeding the company’s average volume of 100,000 shares. This heightened activity reflects a robust interest from investors who see the company’s ability to rapidly address such a significant security issue as a major positive indicator of its capabilities.

    CISO Global Inc., a provider of cybersecurity services and solutions, offers a range of information technology managed services. These include infrastructure and network assessment, data and server migration, enterprise network design, network security systems assessment and deployment, and phone and communication services. Additionally, the company provides security consulting solutions such as cybersecurity consulting, penetration testing, compliance auditing, security remediation, and vulnerability assessments.

    Conclusion

    The dramatic after-hours price surge for CISO Global Inc. underscores the market’s positive reception to the company’s quick and effective response to the recent CrowdStrike security incident.

    While some traders initially missed the significance of this development, it is clear that the company’s proactive approach to addressing such a critical issue has not gone unnoticed. As the company continues to deploy its solution and assist affected clients, many will be closely monitoring the stock’s progress and market performance. However, skepticism remains among some who view the solution as overly simplistic, with debates ongoing about its long-term efficacy.

  • Nauticus Robotics Sees Hard Fall After Reverse Stock Split

    Nauticus Robotics Sees Hard Fall After Reverse Stock Split

    Nauticus Robotics, Inc. (NASDAQ: KITT) experienced significant volatility in its stock price during Friday’s premarket session. After a relatively subdued performance on Thursday, where the stock dipped by 1% during the regular trading hours, it took a dramatic turn in premarket trading, plummeting by 23%. This steep decline follows the company’s recent announcement of a 1-for-36 reverse stock split.

    Details of the Nauticus Reverse Stock Split

    On June 17, 2024, Nauticus Robotics received approval from its Board of Directors to execute a 1-for-36 reverse stock split. This decision aligns with the range approved by shareholders at the annual meeting. The reverse split will consolidate 36 shares of common stock into a single share, with fractional shares rounded up to the nearest whole number. The primary aim of this maneuver is to elevate the share price to meet Nasdaq Capital Market’s minimum bid price requirement. Additionally, a higher stock price could attract more institutional investors, who often have minimum investment thresholds.

    The reverse split will be effective as of 4:01 p.m. Eastern Time on July 22, 2024. Trading of Nauticus’ common stock may be temporarily halted around this time. The stock is expected to resume trading under the new CUSIP number 63911H 207 on July 23, 2024, maintaining its symbol “KITT.”

    Market Impact and Future Outlook

    The sharp drop in the stock price despite the reverse split reflects broader market sentiments toward such corporate actions. While the reverse split is designed to improve the stock’s market appeal and compliance with exchange requirements, it often triggers skepticism among investors. The heavy trading volume of 72 million shares, significantly above the norm, suggests heightened market activity and possibly increased investor anxiety.

    Nauticus Robotics is known for developing autonomous robots for ocean industries, utilizing advanced technology to improve operational efficiency and reduce environmental impact. The company’s business model spans various sectors, including commercial and defense applications. Despite the current stock volatility, Nauticus continues to focus on innovation and expanding its technological capabilities.

    Conclusion

    In conclusion, while the reverse stock split aims to position Nauticus Robotics favorably within regulatory guidelines and attract new investors, the immediate market reaction has been notably negative. The effectiveness of this strategy will become clearer as the adjusted stock price settles and investor sentiment evolves.

  • Hawaiian Electric Industries Surges in Premarket Trading

    Hawaiian Electric Industries Surges in Premarket Trading

    Hawaiian Electric Industries, Inc. (NASDAQ: HE) experienced a dramatic shift in its stock price during Friday’s premarket session, soaring by 47%. This bullish trend followed an announcement of a significant $4 billion settlement related to last year’s devastating wildfires in Maui. The company’s stock, which had slipped by 0.5% on Thursday’s regular trading day, jumped to $17.85 per share by 5:13 AM New York time.

    Hawaiian Electric Settlement Deal

    The premarket surge comes in response to Hawaiian Electric’s tentative agreement to settle a multitude of lawsuits stemming from the wildfires that ravaged Maui in August 2023. According to sources familiar with the negotiations, the proposed $4 billion settlement aims to resolve claims from thousands of homeowners and businesses affected by the fires. This agreement, still awaiting final approval, involves multiple defendants, including Charter Communications and various state and local entities.

    The settlement amount falls short of the $5.5 billion in estimated damages caused by the fires, which destroyed over 2,200 structures. Hawaiian Electric is expected to contribute approximately $1.5 billion of the settlement, with the remainder to be distributed among other parties involved. The payout will be spread over four years, although the specific allocations for each entity and the financial recoveries for affected homeowners and businesses remain unclear.

    Trading Volume and Market Sentiment

    Premarket trading volume for Hawaiian Electric was notably high at 4.7 million shares, surpassing its average trading volume. This surge in activity reflects the market’s positive reaction to the settlement news, despite ongoing scrutiny of the company’s handling of the wildfire crisis. Hawaiian Electric’s credit ratings, which have recently been downgraded to junk status, had cast a shadow over its financial outlook, exacerbating investor concerns.

    The tentative settlement has sparked discussions among Maui County officials, who are scheduled to review the agreement. While the county has expressed openness to a negotiated settlement, the final terms and the impact on Hawaiian Electric’s future remain to be seen. Despite these uncertainties, the stock’s sharp rise highlights a significant shift in investor sentiment, driven by the resolution of a major legal and financial uncertainty.

    Conclusion

    Hawaiian Electric’s premarket rally underscores the market’s optimistic outlook following the announcement of the $4 billion settlement. As the company navigates the final stages of this complex legal resolution, its stock performance and trading volumes will likely remain closely watched. For investors, the current momentum suggests a promising outlook, potentially positioning Hawaiian Electric for future gains.

  • Safe and Green Development Corp. Sees Dramatic Surge

    Safe and Green Development Corp. Sees Dramatic Surge

    Safe and Green Development Corporation (NASDAQ: SGD) experienced a notable shift in its stock price early on Friday, following a subdued trading day on Thursday. The company, which had seen a 2.7% dip in its regular session, saw its stock skyrocket by an impressive 24% in premarket trading. This unexpected surge has caught the attention of many investors, particularly given the lack of new news to explain the drastic movement.

    Lack of News Sparks Caution

    Despite the premarket rally, there is no immediate news that could justify the sharp increase. The absence of significant announcements or developments has led to speculation that this may be a result of speculative trading or a low float meme craze. Market participants are wary that the stock might face a profit-taking dip in the coming days. Nonetheless, bullish investors are seizing the moment to capitalize on the upward momentum while it lasts.

    Recent Safe and Green Development Updates

    In recent weeks, the company’s most notable update came from CEO Paul Galvin’s decision to receive a portion of his 2023 performance bonus in the form of company shares. Announced earlier this month, Galvin opted to take 69,960 shares, valued at approximately $165,805, instead of cash. This move underscores his confidence and commitment to Safe and Green Development Corporation. The bonus represents a part of his $350,000 performance bonus for the year, as per the closing price of the company’s stock on July 9, 2024.

    Safe and Green Development Corporation is a prominent player in the modular construction sector. It focuses on developing sites with prefabricated modules made from wood and steel. The company operates through its subsidiary, Safe and Green Development, which emphasizes environmentally friendly and efficient construction practices. This operational focus aligns with broader industry trends towards sustainable building solutions.

    Conclusion

    As Safe and Green Development Corporation navigates this volatile period, investors are closely watching for further developments. The recent premarket surge reflects both the speculative nature of the stock and the potential for significant gains. With recent executive decisions highlighting confidence in the company’s future, it remains to be seen whether this momentum will continue or if a correction is imminent.

  • 60 Degrees Pharmaceuticals Sees Significant Premarket Surge

    60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP) experienced notable activity on Thursday, with the stock rising by 5.2% during regular trading hours. However, the momentum did not stop there. In the premarket session on Friday, SXTP skyrocketed by an extraordinary 77%. This dramatic increase has caught many off guard, as no immediate news or announcements seem to justify such a surge. This has led to speculation that a potential profit-taking dip might be on the horizon, though current investors are enjoying the gains while they last.

    Recent 60 Degrees Developments

    The most relevant update from the company came approximately ten days ago when it received IRB approval for a clinical study of Tafenoquine. This study is focused on treating Babesiosis in immunocompromised patients who have not responded to prior treatments. This is part of a broader effort by 60 Degrees Pharmaceuticals to advance their research in treating infectious diseases.

    Founded in 2010 and headquartered in Washington D.C., 60 Degrees Pharmaceuticals specializes in developing new medicines for infectious diseases. The company’s flagship product, ARAKODA® (tafenoquine), was approved by the FDA for malaria prevention in 2018. The company also collaborates with research organizations in the U.S., Australia, and Singapore and has received support from entities like the U.S. Department of Defense and private investors including Knight Therapeutics Inc.

    Study Expansion

    Earlier this month, 60 Degrees Pharmaceuticals announced an ethics approval for an expanded access study involving ARAKODA® in combination with standard treatments for babesiosis. This study aims to confirm findings from an earlier case series by Yale School of Public Health, which reported an 80% cure rate in immunosuppressed patients. The results, published in Clinical Infectious Diseases, are promising and could bolster confidence in the company’s research.

    Conclusion

    The sharp rise in 60 Degrees Pharmaceuticals’ stock highlights the volatile nature of biotech stocks, driven by both tangible developments and market speculation. As the company continues to advance its clinical studies, investors will be watching closely for further updates that could influence the stock’s performance. In the meantime, the dramatic price movements suggest that caution and careful analysis will be essential for those looking to trade SXTP.

  • Serv Robotics Inc. Surges After Nvidia’s Investment

    Serv Robotics Inc. Surges After Nvidia’s Investment

    Serv Robotics Inc. (NASDAQ: SERV) captured significant market attention on Wednesday, witnessing a remarkable 12.4% increase during regular trading hours. However, the excitement did not end there. After the market closed, the stock price skyrocketed an additional 77% in after-hours trading, highlighting a surge in investor enthusiasm. A news such as this is bound to put a small player like this on everyone’s radar. This may explain the sudden surge in its price during extended hours.

    Nvidia’s Stake and Interest in Serv Robotics

    This dramatic rise follows news that Nvidia Corp (NASDAQ: NVDA), a prominent player in the semiconductor industry, has significantly invested in Serv Robotics. On July 31, 2023, Nvidia purchased 62,500 shares of the company at an average price of $4.00 per share, totaling $250,000. This acquisition, detailed in Nvidia’s SEC Form 4 filing, increases its ownership stake in to approximately 2,676,904 shares.

    Nvidia’s strategic investment in Serv Robotics is not limited to this recent purchase. The company had previously converted a convertible promissory note, valued at $2.42 per share, into common stock. This conversion, occurring around the time of Serv Robotics’ public offering in April 2024, resulted in Nvidia holding an additional 1,050,129 shares. The total cost for these shares was approximately $2,541,312.

    Broader Sentiment

    The heightened interest in SERV, driven by Nvidia’s involvement, underscores the growing excitement around the robotics sector. Serv Robotics is known for its zero-emission robots designed for public spaces, including food delivery services. Nvidia’s substantial investment suggests confidence in Serv Robotics’ potential and aligns with the broader trend of increasing interest in technology-driven solutions.

    Conclusion

    In conclusion, Nvidia’s investment in Serv Robotics has significantly impacted the company’s stock performance, driving a substantial after-hours surge. This move reflects Nvidia’s broader strategy of expanding its portfolio in the technology and transportation sectors. As the robotics field gains traction, market observers will be closely watching how these developments influence both Serv and Nvidia’s future market activities.

  • Novo Integrated Sees Surge Following Disbursement Notice

    Novo Integrated Sees Surge Following Disbursement Notice

    Novo Integrated Sciences, Inc. (NASDAQ: NVOS) has been the talk of the town recently. The stock experienced a modest 0.2% increase during Thursday’s regular trading session. However, the real action occurred after the closing bell, with the stock skyrocketing by an impressive 42% in the afterhours session. This dramatic rise is attributed to significant news about the company’s SBLC leasing and monetizing program.

    Disbursement Notice to Novo Sparks Rally

    Novo Integrated Sciences announced it received notice of the commencement of disbursement for the complete monetization of a Standby Letter of Credit (SBLC). This initial disbursement marks the first payment in the process, resulting in a release of lien and paving the way for the final advance to the company.

    The final distribution is expected on or before August 2. The company projects gross funding proceeds of approximately $78 million from the SBLC monetization program. Robert Mattacchione, Novo’s CEO and Board Chairman, expressed optimism about the development, stating, “The commencement of distribution marks the first payments in the process of full monetization of the SBLC. This step will now lead us to receiving our full expected payout as identified in the transaction documents. We look forward to engaging in our intended initiatives.”

    Holistic Approach and Market Impact

    Novo Integrated Sciences is known for its pioneering approach to patient-first health and wellness, offering a multidisciplinary healthcare ecosystem of services and product innovation. The company integrates medical technology, advanced therapeutics, and rehabilitative science to deliver essential and differentiated solutions.

    The recent announcement and subsequent stock surge have caught the attention of market onlookers, who point out that while the initial disbursement has been received, the final disbursement on or before August 2 will be crucial. The current trade volume driving this surge is only a fraction of the stock’s average volume, indicating that a corrective plunge cannot be ruled out once the regular trading session resumes.

    Conclusion

    Novo Integrated Sciences’ afterhours stock surge highlights the significant impact of the SBLC disbursement news. While the company’s innovative healthcare approach and the projected $78 million funding have fueled investor enthusiasm, the modest trade volume suggests caution. As the final disbursement date approaches, all eyes will be on Novo to see how the market reacts in the coming days.