24/7 Market News Wrap 29 Dec 2023
DENVER, Colo., Dec. 29, 2023 (247marketnews.com)- 24/7 Market News covered the following companies today; Fisker Inc (NYSE:FSR), FLJ Group Ltd (NASDAQ:FLJ), Aditxt Inc. (NASDAQ:ADTX), Sentage Holdings Inc (NASDAQ:SNTG), Siyata Mobile (NASDAQ:SYTA), and Merck (NYSE:MRK).
Closing out the year in what was, for many companies, deep green day was nice, but the day belonging to some of our favorite low float listings was even sweeter.
Although it was a slow news day, two big announcements respectively drove Fisker (NYSE:FSR) and FLJ Group Ltd (NASDAQ:FLJ)
Fisker’s December 2023 Business Update, included the news that it grew deliveries by over 300%, from Q3 to Q4. It opened the regular trading session at $1.71 and hit $1.94 by midmorning, and did well to hold a large amount of today’s gains, by closing at $1.75, up $0.24 (+15.89%), on 139.2M shares traded. While the volume was very large, it was only about two thirds of its 214.2M shares in the float.
FLJ Group Limited stated that it completed its Alpha Mind Technology Limited acquisition and opened this morning’s regular session trading at $1.73. After trading sideways for most of the session, it finally took off and hit a high of $2.26, before closing at $2.00, up $0.62 (+44.93%), on 21.4M shares traded. However, with a reported 189.2M shares Outstanding and 144.2M in the float, there’s less short squeeze pressure to continue the rally.
The increased rally continuation probability is exactly the dynamic that the low-float listings benefit from and is why we continue to feature low-floats like Aditxt (NASDAQ:ADTX), Sentage Holdings Inc (NASDAQ:SNTG), Cingulate Inc (NASDAQ:CING), C4 Therapeutics Inc. (NASDAQ:CCCC), Shattuck Labs (NASDAQ:STTK), and Siyata Mobile (NASDAQ:SYTA).
As we previously stated, as long as the low-float listings continue to make massive moves, we’re going to keep covering them, so we reminded our readers of the following low-float plays.
Aditxt (NASDAQ:ADTX) opened this morning at $6.52 and, despite a few trading halts, hit a high of $8.47 and closed at $6.63, up $1.81 (+37.55%), on 27.6M shares traded.
Sentage Holdings (NASDAQ:SNTG) opened trading at $2.24 and was hit with even more trading halts, but worked its way to $8.45, before closing at $5.00, up $3.23 (+182.49%), on 48.2M shares traded.
Siyata Mobile (NASDAQ:SYTA) is an ultra-low float that opened the day at $3.80 and hit $4.66, before closing at $4.21, up $0.73 (+20.98%), on 167.6K shares traded.
While C4 Therapeutics (NASDAQ:CCCC) isn’t a micro-float listing, it’s a prime example of how the low-floats can sustain rallies and we believe that C4’s exclusive licensing agreement with Merck (NYSE:MRK) and Stifel upgraded C4 to “buy” with a target of $12, should help fuel additional green in 2024.
Likewise, Siyata is set for some serious 2024 tailwinds, as it plans on releasing a new 5g product, which combined with their improved business model and new PO financing vehicle in place, should help it maintain its trajectory.
All of these have low-float listings could potentially see a powerful short squeeze and need to be on your trading screens for 2024.
Thank you for sharing your valuable with us in 2023 and let’s 2024 an even better year.
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