Watchlist 10/19/2017

NOTE: ALL STOCKS IN THIS WATCHLIST ARE EITHER TRENDING TOWARDS A BULLISH TECHNICAL CHART OR CURRENTLY IN ONE.  ANY TECHNICAL ANALYSIS IS PROVIDED IN THE CHART.  PLEASE DO YOUR OWN DUE DILIGENCE BEFORE CONSIDERING INVESTING IN THESE STOCKS. (The Shares Float is based on figures from FinViz.Com).

Stocks highlighted in this watchlist include: $GRPN, $AMDA, $OPTT (Short), $AGEN

GRPN: I'm reiterating GRPN for my watchlist as I believe it's very near to a breakout this week even though it has a large float.  Float of 382.80 million shares with 9.76 short.  Positive initiation from Gabelli & Co.  Analyst Matthew Trusz launched coverage of the stock with a Buy recommendation and a $7 target price. 

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AMDA: Float of 34.42 million shares with 5.17% short.  The company announced today that the Nasdaq Hearings Panel (the “Panel”) has granted the Company’s request for an extension within which to evidence full compliance with the criteria for continued listing on The Nasdaq Capital Market, including the filing requirement and the $1.00 closing bid price requirement. The Company’s continued listing on Nasdaq is subject to the Company filing its Forms 10-Q for the quarterly periods ended March 31, 2017 and June 30, 2017 with the SEC by October 31, 2017, and the Company evidencing a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days by November 30, 2017. The Company expects to timely satisfy the deadlines set forth in the Panel’s decision. 

This should push the stock price much higher in the coming days.

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OPTT: Float of 12.4 million shares with 11.22% short.  Looks like this NR came out late on Wednesday but not sure as to timing. Get ready to short this big time.

Ocean Power Technologies, Inc. Announces Proposed Public Offering of Common Stock.  Announced today that it intends to offer shares of its common stock for sale in a best efforts public offering. The Company intends to use the net proceeds from this offering for working capital and to fund other general corporate purposes. 

Heard comments that it is 40 million shares.  Not good for the share price in the short term.  

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AGEN: Float of 51.51 million shares with 16.74% short.  

Agenus Inc, an immuno-oncology company with a pipeline of immune checkpoint antibodies and cancer vaccines, announced today that Health Canada granted marketing authorization to GlaxoSmithKline's (GSK) shingles vaccine, Shingrix, that contains Agenus' proprietary immune adjuvant QS-21 Stimulon® adjuvant. The approval in Canada marks the first approval for Shingrix and the first approval of a vaccine containing QS-21 Stimulon. 

In September of this year, Shingrix, was unanimously recommended for approval by the FDA Vaccines and Related Biological Products Advisory Committee. A decision by FDA on whether to approve Shingrix in the United States is anticipated in the coming weeks. I'm hearing the FDA approval is just around the corner.

 

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