February 24, 2024

4 Trades to Watch

DENVER, Colo., Dec. 8, 2023 (www.247marketnews.com)- Companies mentioned include MBIA Inc. (NYSE:MBI), Siyata Mobile (NASDAQ:SYTA), Volato Group Inc (AMEX:SOAR), MicroAlgo (NASDAQ:MLGO), Incannex Healthcare Inc (NASDAQ:IXHL), and Clearmind Medicine Inc (NASDAQ:CMND)

Dividend traders may want to consider MBIA Inc. (NYSE:MBI), which declared an $8 per share extraordinary cash dividend on its common stock to shareholders of record as of December 18 to be paid on December 22. It’s trading well above its recent resistance and knocked out multiple key inflection points and only has slight resistance between its current price $12.20 and the $14 level. It may or may not reach that price and more likely to happen closer to the record date, but that would be more than a dollar discount from yesterday’s $7.38 closing price and the $8 dividend. It could trap some shorts and surpass that range.

Value investors may consider Siyata Mobile (NASDAQ:SYTA), which received a $900,000 order for the Company’s UV350 In-Vehicle device and its PTT rugged handsets, its first post recently announced factoring deal and representing nearly half of its approximately $2 million market cap. Siyata began trading post reverse split this week, in what’s become a hot market for many post-split listings. Some of November’s post-split poppers include Incannex Healthcare Inc (NASDAQ:IXHL), which has been active since completing a 1 for 4 reverse on the 30th, and Clearmind Medicine Inc (NASDAQ:CMND), which has been one of the most heavily traded stocks since its reverse.

On Tuesday, Siyata hit an intraday high of $4.93 and traded nearly one million shares, representing almost twice the number of shares in the float, so there may be short covering demand combined with a limited supply after clearing much of the overhang, which could create additional buying pressure.

Volitivity traders may consider Volato Group Inc (AMEX:SOAR) and MicroAlgo (NASDAQ:MLGO).

Volato Group made several huge moves this week, starting Tuesday, and may continue to bounce, while MicroAlgo’s Wednesday performance was even more impressive, but, after a strong morning performance, it gave up all of those gains, but may also offer traders some bounce moves.

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