February 24, 2024

Something for Everybody- 24/7 Market News Wrap 8 Dec 2023

DENVER, Colo., Dec. 8, 2023 (www.247marketnews.com)- The following companies published announcements or traded higher-than-usual volume; MBIA (NYSE:MBI), ALX Oncology (NASDAQ:ALXO), SilverSun Technologies (NASDAQ:SSNT), Siyata Mobile (NASDAQ:SYTA), MicroAlgo’s (NASDAQ:MLGO), and Sera Prognostics (NASDAQ:SERA).

This week featured something for everybody.

Today

We started this morning by covering MBIA’s (NYSE:MBI) $8.00 per share to shareholders of record as of December 18 extraordinary cash dividend when it was at $12.20, up $4.82 (+65.31%), on 762K shares traded. We liked that it has little resistance from today’s price until the $14 level.

It opened the regular trading session at $12.51 and kissed $13.50 multiple times, during the closing hour and traded as high as $13.5081, before closing at $13.42 (+81.84%), on 11.5M shares traded.

MBIA may be boring compared to some of the listings that we feature, but there’s something to be said about an easy trade.

Speaking of easy trades, ALX Oncology Holdings (NASDAQ:ALXO), which we mentioned as one of this morning’s momo movers when it was trading at $11.79, up $2.54 (+27.46%), on 383K shares traded, and may have been an even easier trade than MBIA. About 75 minutes after we mentioned ALX, it hit its high of the day at $13.50 and stayed quiet for the remainer of the day, before closing at $12.26, up $3.01 (+32.54%), on 3.8M shares traded.

Monday

The week started by covering Jacobs Private Equity II’s investment agreement with SilverSun Technologies (NASDAQ:SSNT), on Monday, when SilverSun was trading at $6.57, up $2.90 (+79.02%), on 580.2K shares traded.

After hitting a premarket high of $13.95, it pulled back to open the regular trading session at 8.29 and hit a low of $6.4801, about 15 minutes after the open. It then hit its high of the day, $13.37, about an hour later, and went on to close at $12.49, up $8.82 (+240.33%), on trading volume of over 41.5M shares

Tuesday

On Tuesday, Siyata Mobile (NASDAQ:SYTA) opened the regular session at $3.09 and hit an intraday high of $4.93. However, it couldn’t hold all of those gains, but the nearly 1M shares traded are almost twice the float, so it could pop during the next week, as so many recent reverse splits have over the past few months.

Wednesday

Almost everything was pumping, including many foreign listings. However, we don’t cover a lot of foreign listings, especially Chinese, because they tend to fall apart after gapping higher in the morning, which made MicroAlgo’s (NASDAQ:MLGO) performance that much more impressive. It was actually trending lower, when we covered their news, at $3.94, up $1.52 (+62.81%), on 11.6M shares traded. from there it seemed to only go higher, on its way to $10.76, but did give a little back, just before its close at $9.58, up $7.16 (+295.87%), on 77.8M shares. It actually eclipsed $16 the following morning, but has fallen apart since.

Sera Prognostics (NASDAQ:SERA) also had news, which we covered when it was trading at $5.23, up $3.06 (+140.82%), on 14.2M shares traded. It, too, was trending lower when we covered it, but hit $9.86, about an hour later. We thought that it may set up for another wave high in the afternoon, but that wasn’t meant to be, as it closed at $5.49, up $3.39 (+161.43%, on 78.5M shares.

We covered Syros Pharmaceuticals (NASDAQ:SYRS) when it was at $3.10, up $0.28 (+9.93%), on 514K shares traded. It made a nice easy move to a $4.64 and held most of its gains to close at $4.02, up $1.20 (+42.55%), on 4.4M shares.

Altimmune (NASDAQ:ALT) was one of Wednesday’s momentum movers, which we covered at $6.22, up $1.05 (+20.31%), on 4M shares traded. It traded as high as $7.615 and closed at $6.88, up $1.71 (+33.08%), on 54.6M shares.

Phio Pharmaceuticals (NASDAQ:PHIO) was another momo trade, which we covered at $1.31, up $0.19 (+16.52%), on 1.8M shares traded. It hit a $2.09 high and closed at $1.59, up $0.47 (+41.96%), on 26.2M shares.

Thursday

Allarity Therapeutics (NASDAQ:ALLR) flew to a premarket high of $1.47, after reporting hopeful initial results from its ongoing Phase 2 clinical trial, but pulled back to $0.80, up $0.19 (+31.08%), on 10.7M shares traded, when we covered the pullback. From there it gained about 50% in the premarket, but couldn’t match that performance in the regular trading session.

We featured Cyngn’s (NASDAQ:CYN) patent news in the premarket, when it was trading at 36-cents and stated that its next resistance points were 45 and 60 cents. It hit a high of 59-cents.

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