24/7 Market News Daily Wrap 28 Nov 2023
DENVER, Colo., Nov. 28, 2023 (247marketnews.com)- The following companies published announcements or are trading higher on higher-than-usual midday volume; Avidity Biosciences Inc (NASDAQ:RNA), Bristol-Myers Squibb Co (NYSE:BMY), ESGL Holdings Ltd (NASDAQ:ESGL), RiskOn International’s (NASDAQ:ROI), and Redhill Biopharma Ltd (NASDAQ:RDHL).
All of the listings we covered in this morning’s premarket traded very well, but only in premarket trading.
When we covered ESGL Holdings (NASDAQ:ESGL) multi-year contract renewal with Singapore Refining Company Private Limited announcement, in which ESGL will continue to provide used catalyst waste disposal services to SRC through December 31, 2025, it was trading at $1.52, up $0.63 (+70.79%), on 1.1M premarket shares.
ESGL hit a premarket high of $1.80, but couldn’t get close to matching that in the regular trading session.
RiskOn International (NASDAQ:ROI) didn’t have news, but we spotted its trading volume spike when it was trading at $0.42, up $0.0725 (+20.86%), on 401.1K premarket shares.
RiskOn hit a premarket high of $0.6767 and traded 3.87M premarket shares, but couldn’t get close to matching that in the regular trading session.
We covered Avidity Biosciences (NASDAQ:RNA) reporting that it expanded its global licensing and research collaboration with Bristol Myers Squibb (NYSE:BMY), with Avidity receiving a $100 million up front and the potential to receive up to $2.2 billion in milestone payments and up to low double-digit royalties.
Avidity Biosciences was trading at $8.19, up $2.03 (+32.95%), on 357.7K premarket shares, when we covered it. It hit a premarket high of $9.20 and 3.68M premarket shares, but despite having a reasonable pathway to $11 and big news, it couldn’t get close to matching that in the regular trading session.
Redhill Biopharma’s (NASDAQ:RDHL) momentum from yesterday’s news, which we featured when it was at $0.59, continued through today, so we reminded our readers that it was still in play after taking out several of our key resistance points, including our call that it could take out $1.25 in this morning’s premarket, which it did on its way to a $1.42 premarket high.
After hitting a $2.79 high and traded over 153M shares, it hit $2.89 in afterhours trading.
While we hope that Redhill continues to wreck the shorts, we caution novice shareholders and traders that many of these massive gainers can see some of their gains wiped out by new funding deals. We have no knowledge that Redhill is even considering this, but we’re just suggesting that should be a consideration moving forward.
CONTACT:
24/7 Market News
24/7 MARKET NEWS, INC Disclaimer
24/7 Market News (24/7MN) is a third-party publisher and online news dissemination service provider that produces regular sponsored and non-sponsored reports, articles, stock market blogs, and newsletters covering equities listed on the NYSE, NASDAQ, and micro-cap exchanges. 24/7MN holds no investment licenses and is NOT a financial advisory firm, investment adviser, analyst, or broker-dealer and does not undertake any activities that would require such registration. 24/7 MN is not affiliated with any company written about in this release and owns no shares of stock. 24/7MN’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.
Link to SYTA disclosure here- https://247marketnews.com/syta-siyata/
The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and based on publicly available information which is believed to be reliable.
The stocks and strategies discussed are simply ideas only and are in no way financial advice or recommendations. The author may or may not at any time be holding securities discussed. The author may or may not enter trades in the stocks mentioned. Some positions in mentioned stocks may already be held or are being adjusted or are simply examples, ideas or discussion topics. You are always trading at your own risk.
Please go to 247marketnews.com or https://247marketnews.com/terms-disclaimer/ for further information.
Connect with 24/7 Market News:
About 24/7 Market News
As a pioneer in digital financial market media, 24/7 Market News (24/7MN) is dedicated to the swift distribution of financial market news and information. 24/7 MN incorporates comprehensive corporate communications resources and tools to engage the investment community.
Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.