Market Playbook

November 25, 2024

DENVER, Colo., Nov 25, 2024 (247marketnews.com)- Stocks to watch; Wearable Devices (NASDAQ: WLDS), Siyata Mobile (NASDAQ: SYTA), Cognition Therapeutics (NASDAQ: CGTX), Smartkem (NASDAQ: SMTK), Vast Renewables (NASDAQ: VSTE)

Wearable Devices (NASDAQ: WLDS) has already traded over 20 million shares in this morning’s premarket session.

After the October 1-for-20 reverse share split Wearable Devices shows to have 1.22 million shares outstanding and about 757 thousand shares in its float.

Nearly three weeks after the reverse split, Wearable Devices reported receiving a written notice from Nasdaq Stock Market indicating that the Company regained compliance with the minimum bid price requirement for continued listing set forth in Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share.

Assuming that some trades don’t actually settle, due to the volume to availability ratio, his may continue to squeeze higher.

Siyata Mobile (NASDAQ: SYTA) is also on short squeeze watch, after reporting more than tripling third quarter 2024 revenue and setting a new Company quarterly revenue record of $5.9 million, a 218%, or over $4 million, year-over-year increase and a 210%, or $4.0 million, quarter-over-quarter increase.

Siyata traded over 5.9 million shares, which is greater than Siyata’s reported outstanding shares, indicating that the shorts are very busy in Siyata’s market and that there may be some trades that haven’t yet settled, so look for a potential squeeze rebound.

Marc Seelenfreund, Siyata’s CEO, stated, “We are also extremely excited with our sales outlook going forward as we are now seeing tangible, rapid adoption of our unique PTT product portfolio across our various sales channels.  We believe that we have a very exciting 5G product portfolio planned to launch in 2025 which will position us as the leading PTT handset provider on a global level.  We announced recently that T-Mobile is the first wireless carrier that will be launching part of the portfolio and will be releasing details of the innovative devices over the coming months.  We are optimistic that more wireless carriers will follow suit.”

Siyata’s strategy was to place Siyata’s PTT devices into the top carriers, including AT&T (NYSE: T), Verizon (NYSE: VZ), and T-Mobile (NASDAQ: TMUS), so that the Company can benefit from potential cobranding deals, and the results are reflected in the third quarter results.

Cognition Therapeutics (NASDAQ: CGTX) provided a biomarker1 analysis update from the Phase 2 ‘SHINE’ study in mild-to-moderate Alzheimer’s disease, focused on plasma samples from all participants who entered the study with lower levels of plasma p-tau2172. Several blood-based biomarker changes occurred in concert with a 95% slowing of cognitive decline as measured by ADAS-Cog11 in the same patients, providing further evidence that CT1812 may be preserving cognitive function and slowing disease progression by protecting key neurological system.

Anthony O. Caggiano, MD, PhD, Cognition’s CMO and head of R&D, commented, “We now have evidence that the dramatic reduction of cognitive decline that was sustained over 6 months in patients treated with CT1812 who had lower plasma p-tau217 levels also was associated with improvements in key indicators of brain cell function. This finding gives us confidence that CT1812 is having a disease-modifying effect.

“We expect to make a full presentation of these and other biomarker results at scientific conferences in 2025. In addition, we look forward to meeting with the FDA to review these compelling clinical and biomarker findings and aligning on a Phase 3 program design.”

Smartkem (NASDAQ: SMTK) is partnering with AUO, Taiwan’s largest display manufacturer, to develop the world’s first advanced rollable, transparent microLED display using Smartkem’s technology.

Ian Jenks, Smartkem Chairman and CEO, proclaimed, “We believe that collaborating with global display industry leader AUO to develop a novel microLED display puts Smartkem’s technology on the frontier of microLED display commercialization. Our unique transistor technology is expected to enable display manufacturers to efficiently produce microLED displays, making mass production commercially viable. Smartkem’s technology has the potential to take today’s microLED TVs from high end market prices of $100,000 down to mass market prices.

“Because our transistors are processed at such a low temperature compared to other technologies, we are able to pour them directly on top of the microLEDs, completely eliminating the problematic mass transfer and laser welding processes required with other technologies. The key feature that enables the development of this microLED display is our unique low temperature process that allows the use of low-cost, flexible plastic rather than glass. We believe that, if successful, this collaboration will be a significant milestone for Smartkem in its road to commercialization, and for microLED display product development using our technology.”

Dr. Wei-Lung Liau, AUO’s Chief Technology Officer, added, “AUO has dedicated years to developing the ultimate MicroLED display technology, forging alliances with ecosystem partners to enable mass production. In this collaboration, AUO has developed groundbreaking technologies that boost the high transparency and free-form in applications of MicroLED. With proprietary materials from Smartkem and the OTFT production process from ITRI, we are collaboratively developing the world’s first rollable MicroLED display for potential commercialization with cost advantage. We believe this will create new opportunities for the display industry and continue to expand value chain partner cooperation and influence.”

Vast Renewables (NASDAQ: VSTE) reported signing signed an updated funding agreement to access up to $30 million of its existing $65 million grant from the Australian Renewable Energy Agency (“ARENA”), to support Vast’s manufacturing and project development activities as it deploys its concentrated solar thermal power (CSP) solution.

Craig Wood, Vast’s CEO, stated, “Unlocking this funding helps accelerate our Australian green technology manufacturing and the final stages of development for our first utility-scale project. ARENA’s backing has been pivotal, getting us to a point where we are garnering significant interest from investors, industry and international governments keen to explore how our technology can play a key role in decarbonising hard-to-abate sectors including electricity, industry and fuels.

“With the continued support of the Australian Government and our investors, we are looking forward to building our next projects, and to helping Australia become an export powerhouse for this next generation of green technology.”

24/7 Market News disclosure

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. Visit 24/7 Market News website here.

24/7 MARKET NEWS, INC Disclaimer
Please go to https://247marketnews.com/disclaimer/ for disclaimer information.

CONTACT:
24/7 Market News
Editor@247marketnews.com

Related news for (WLDS, SYTA, CGTX, SMTK, VSTE)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.