STOCKS IN THIS WATCHLIST ARE GENERALLY GEARED TOWARDS SWING TRADING BUT CAN ALSO BE USED FOR DAY OR LONG TRADES. STOCKS ARE EITHER TRENDING TOWARDS A BULLISH TECHNICAL CHART OR CURRENTLY IN ONE. ANY TECHNICAL ANALYSIS IS PROVIDED IN THE ACCOMPANYING CHARTS. PLEASE DO YOUR OWN DUE DILIGENCE BEFORE INVESTING IN THESE STOCKS. (The Shares Float is based on figures from FinViz.Com or wsj.com).
Stocks highlighted in this watchlist: $BTCS, $RIOT, $MARA (Short), $ADMP
BTCS: Float of 241.39 million shares. Many Blockchain stocks were flying on Monday. I expect this to continue. Have a look at the BTCS chart for technical analysis.
The first day of bitcoin futures trading on the CBOE exchange is over and the day largely went according to plan, according to its CEO. Overall, Monday saw the price of bitcoin push above $17,000 on CoinDesk's Bitcoin Price Index (BPI) to hit a new all-time high in the hours after the Chicago-based firm began trading the derivatives. That process began late Sunday, an event that coincided with a near-simultaneous crashing of CBOE's website. The price of bitcoin jumped over $1,000 in minutes. Reports indicate, however, that trading has gone relatively smoothly since then.
RIOT: Float of 4.32 million shares with 20.36% short.
Riot Blockchain Inc. today announced that its majority owned Tess Inc. has entered into a non-binding letter of intent to merge with Cresval Capital Corp. (TSX-V: CRV). TessPay is a blockchain company developing a supply chain payment platform for businesses to attempt to guarantee payment on time and in full. After the closing of the anticipated merger, TessPay will be publically traded on the TSX Venture Exchange (the "TSXV") and change its name to "TessPay Inc.". The merger would be the first of Riot Blockchain's investments to become a stand-alone public company. Jeff Mason, Chief Executive Officer of TessPay, stated, "The decision to take the company public provides us access to traditional capital markets as we continue developing our blockchain technology solution. This environment will also foster transparency and accountability moving forward, providing confidence to investors and prospective customers alike."
MARA (Short call): Float of 6.62 million shares with 8.66% short.
Shares of Marathon Patent Group Inc slumped nearly 15% to $5.35 in after-hours trading Monday, following the announcement of a dilutive equity offering. The IP licensing firm priced 1,000,000 shares at $5.00 apiece, which is well below today's closing price of $6.30 per share. The stock's 50-day moving average is $2.39 and its 200-day moving average is $0.83. In addition to that deep discount, the offering represents nearly 10% dilution for existing shareholders. However, the offering did raise $5 million, which will provide the company additional liquidity to meet its working capital and general corporate cash requirements. The shares were offered and are being sold to certain accredited investors in a registered direct offering. The offering is expected to close on or about December 14, 2017.
ADMP: Float of 30.30 Million shares with 7.52% short.
Adamis Pharmaceuticals Corp shares soared nearly 19% last Tuesday, after the small drug maker announced that it has submitted an investigational new drug (IND) application to the FDA to begin testing the drug compound naloxone in human patients using Symject, presumably as a reaction to the worsening opioid crisis. Adamis intends to develop a naloxone injection product candidate utilizing the same patented syringe drug delivery platform used in Symjepi.
Raymond James analyst Elliot Wilbur commented, “Although the sheer size of the naloxone market is not substantial, it continues to grow rapidly in tandem with opioid overdose prevention measures. It would be unreasonable to assume the market for naloxone agents could increase some 50%- 75% prior to an ADMP approval creating a potential significant new growth avenue for the company. We believe a Naloxone agent in a simple easy to use presentation such as Symject could conservatively present a $50-75M commercial opportunity.”