The Christmas Special, (NASDAQ: SYTA) could easily become the Next Low Float Gift
DENVER, Colo., Dec. 12, 2023 (247marketnews.com)- Of the thousands of Nasdaq listings, only a few have less than one million shares in the float. Siyata Mobile (NASDAQ:SYTA), Aditxt Inc (NASDAQ:ADTX), and Helius Medical Technologies Inc. (NASDAQ:HSDT) are three of the listings in the exclusive club.
Siyata Mobile (NASDAQ:SYTA) published its year-end CEO message, which centered on plans to parley the Company’s unique position into near term prospects.
Siyata manufactures the only Mission Critical Push-to-Talk (MCPTT) cellular radio device that’s currently offered by leading North American cellular carriers, as well as a growing number of top international carriers.
Siyata’s focus for the past two years was building a strong foundation including a new factor funding vehicle that eliminates the cause for the biggest downward pressure on its stock. The Company is now positioned so that it can grow without the investment bankers taking their pound of flesh, from the Company and its shareholders, every time Siyata’s successes requires funding to execute.
The letter included the bold statement, “Our number one goal in 2024 is to ramp up sales and reach profitability, which we are confident can be achieved. Based on our projected sales and carrier incentives, we are forecasting large-scale opportunities in different verticals including first responders, education, health care, security, utilities, hospitality and more.”
Siyata is now in an “extremely unique position; we’ve secured many of the world’s largest cellular carriers which understand that land mobile radio (LMR) is an antiquated and costly technology and are working hard to move this massive industry over to cellular technology. The carriers see an opportunity to offer our next generation product portfolio in this multi-billion-dollar market to their clients and light up their SIM cards in our devices. Fiscal year 2024 will continue to present growth opportunities for our company, as the carriers have clear incentives to sell our MCPTT devices to their enterprise and first responder customers.”
Despite the fact that Siyata is rapidly becoming a global leader in the ever-growing Push-to-Talk Over Cellular industry with Next Generation Cellular Technology, FINRA’s data, for the previous two weeks, indicates that the short share trades account for anywhere from 36-64% of the daily volume; meaning that around half of its trading volume during that timeframe were short sales that may not have covered yet, so there is a high probability that a bunch of shares still need to be purchased.
Since this has a low share float, of around 504K shares, that could be a very powerful driver, especially considering that it traded nearly twice its float in just one day last week.
There are only about two dozen Nasdaq listings, as of late November, that have under one million shares in the float, so this type of share structure is very rare, but they can make very powerful moves.
For instance, I was already aware that Aditxt Inc (NASDAQ:ADTX) has less than half a million shares in the float, since I included it in today’s Top 5 Trades, just after it announced that it entered into Definitive Agreement to acquire Evofem Biosciences. It quickly hit $5.86, up $2.06 (+54.21) on the news, by the time I covered it, and I thought that it was a great example of how quickly a low share float listing can move, as it only took a few minutes, despite a trading halt, to shoot their shares to $9.50 in the regular session trading. After a few more trade halts, it closed at $6.09, up $2.29 (+60.26), on trading volume of 35.3M shares.
Siyata’s December 5 move looks like Aditxt’s November 30 move, while its chart reminded me of literally the next low float listing that I looked at, Helius Medical Technologies Inc. (NASDAQ:HSDT). While Helius’s chart might not be as exciting as today’s Aditxt move, but it’s still looking like it could lock in a 50% gain with its two week move.
Keep an eye on these low float listings for their next potential profitable moves.
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Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.