24/7 Market News- Weekly Kickoff for July 11, 2022

(24/7 MARKET NEWS) While the masses are watching the Twitter saga play out, we’re keeping our eyes on select penny stocks and certain squeeze plays.

Xeriant, Inc. (OTCQB:XERI) announced this morning that it will host a press conference on August 3 to discuss the Company’s recent significant positive developments. The aerospace company dedicated to Advanced Air Mobility and associated specialty chemicals and materials further stated that its management team will travel to Slovakia to address the strong U.S. and global demand for Retacell® and the fire- and water-resistant composite panels made with Retacell®.

Xeriant Announces Date of Upcoming Press Conference

“Xeriant has been meeting with multiple interested end users from the building and textiles industries, with discussions that include advanced negotiations, and is taking steps to scale up production, finalizing testing and certifications, evaluating processing equipment, sourcing bulk raw material suppliers, and setting up a North American pilot manufacturing facility.”

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) gained in every session this week, closing today at $1.39, up $0.2436 (+21.25%), on over 3.1 million shares for the day, and is looking to carry over into this week, trading higher in this morning’s premarket, at $1.40, up a penny (+0.72%), although on light volume of only 25,951 shares, so far.

On July 5th, Titan announced that the FDA cleared its Investigational New Drug application for a Phase 1 study of its six-month or longer subdermal formulation of nalmefene, an opioid antagonist, intended for the prevention of relapse following opioid detoxification in adults with Opioid Use Disorder.

Short Squeezes

Clovis Oncology Inc. (NASDAQ:CLVS) took out its 200-day simple moving average resistance and a few other resistance levels, on Friday. After hitting a high of $3.25, on Friday, it closed the week at $2.77, 60 cents (+27.65%) higher, on over 104 million shares.

Revlon (NASDAQ:REV) continues to consolidate and closed Friday at $5.72, down $0.11 (-1.89%), on over 5 million shares. The 20-day simple moving average just crossed the 50-day simple moving average, so it could strengthen.

Although Redbox Entertainment (NASDAQ:RDBX) closed Friday in the red, at $6.22, down a nickel (-0.80%), on over 2 million shares traded. it appears to be consolidating and could begin to run, again, in the next week or two.

bluebird bio, Inc. (NASDAQ:BLUE) is another heavily shorted stock that’s been consolidating and it looks like it wants to keep squeezing higher. It closed last week at $5.15, up $0.13 (+2.59%), on 6.8 million shares, during Friday’s session.

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