Could Canoo (GOEV) Be The Next TESLA??
Company Snapshot:
Company Name: Canoo Inc.
Ticker: GOEV
Exchange: NASDAQ
Website: www.canoo.com
Industry:
Company Summary:
Canoo’s mission is to bring EVs to Everyone. The company has developed breakthrough electric vehicles that are reinventing the automotive landscape with bold innovations in design, pioneering technologies, and a unique business model that spans the full lifecycle of the vehicle. Distinguished by its experienced team from leading technology and automotive companies – Canoo has designed a modular electric platform purpose-built to deliver maximum vehicle interior space that is customizable across all owners in the vehicle lifecycle to support a wide range of vehicle applications for consumers and businesses. Canoo has offices in California and Texas.
Canoo’s charts look incredible:
The 1 day chart above reveals resistance at $12.50 PPS, so make sure it’s clear of it before entering a position Friday.
As you can see from the 6 month chart above, we have hit a 6 month high with 100% gains in 14 weeks, so nice and steady!
UPDATE: Investors invested in GOEV, that’s putting your money where your mouth is!
NASDAQ reports “Over the last year, we can see that the biggest insider purchase was by insider Daniel Hennessy for US$5.0m worth of shares, at about US$10.00 per share.”
Why is it up 100% over the last 14 weeks?
This company is REAL and making serious moves!
In Arkansas Business, they state, “Electric automaker Canoo Inc. announced late Monday that it will move its headquarters to northwest Arkansas, pledging to employ more than 500 people in Benton and Washington counties.”
There is another EV manufacturer you may have heard of, Tesla, current share price of $1,116 per share!
So you have a EV manufacturer making good on manufacturing plants and the possibility that it could be 10% of Tesla and BOOM , $111 per share price up $100+/- from today’s price! That is wealth and there is attention being paid with this gem.
Summary
We like this stock! Fundamentals are good and technicals are solid as well. $5M of shares purchased at $10 is also really good because it is undervalued at $12 so there is lots of room for a nice long term play,
Happy trading!
Quick Takes: Market Research on VLON, ALF and BTB
Company Snapshot
Company Name: Vallon Pharmaceuticals, Inc.
Ticker: (VLON)
Exchange: NASDAQ
Website: www.vallon-pharma.com
Company Summary:
Vallon Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company, headquartered in Philadelphia, PA. The Company is focused on the development of new medications to help patients with CNS disorders. The Company’s lead investigational product candidate, ADAIR, is a novel abuse deterrent formulation of amphetamine immediate release being developed for the treatment of ADHD and narcolepsy.
Why did it go up over 100%?
Vallon Pharmaceuticals, Inc. reported its financial results for the quarter ended September 30, 2021.
Also announced, ADAIR is the Company’s proprietary abuse-deterrent formulation of immediate-release dextroamphetamine currently in development for the treatment of attention deficit hyperactivity disorder (ADHD) and narcolepsy. ADAIR is being developed leveraging the de-risked 505(b)(2) regulatory pathway and is currently being evaluated in the SEAL study, a pivotal intranasal abuse study. If approved, ADAIR has the potential to address the growing Adderall® segment of the ~$9 billion US ADHD market.
Technical Analysis:
Anytime there is a big spike in price action there normally is a pull back, the whole adage, what goes up must comes down takes over. In the first chart you can see an obvious spike of over 100% with a pull back. How far will it pull back, that is speculation but right now we know it is pulling back. In the second chart you can see the pull back/sell off is still supported around $6.50 which is promising for the future. Make sure it stays above $6.10.
Company Snapshot
Company Name: Bit Brother Limited
Ticker: (BTB)
Exchange: NASDAQ
Website: https://bitbrothers.in/
Company Summary:
A team of experienced data scientists, data engineers, developers and designers, ready to help you build your web and mobile application
Why did it go up over 100%?
Bit Brother Limited share price is up 86% in the last month. But has been plagued with 5 years of declines. So why has it started to bounce back? Big News? No. The only reason we see for the increase is a modest increase in revenue which means this stock should not be increasing share price as much as it has in this month based on the modest increases in revenue. Be aware!
Technical Analysis:
Bit Brother Limited share price is in worse shape than it was before the massive run of over 150% with nominal news. We see this everyday in the market, stocks get over bought and then without fail, the stocks come plumitting. This is no different and we are not optimistic in the short term with Bit Brother.
Company Snapshot
Company Name: Alfi, Inc.
Ticker: (ALF)
Exchange: NASDAQ
Website: https://www.getalfi.com/about-us/
Company Summary:
Alfi, Inc. engages in creating interactive digital out-of-home advertising experiences. Alfi utilizes artificial intelligence and computer vision to better serve ads to people. Alfi’s proprietary Ai algorithm understands small facial cues and perceptual details that make potential customers a good candidate for a particular product.
Why did it go up over 100%?
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Alfi, Inc. (“Alfi” or “the Company”) (NASDAQ: ALF) for violations of the securities laws.
Technical Analysis
Stay away, well, because it is a garbage chart with no foreseeable rebound. Moreover, it is very strange that Alfi ran after the news, nothing makes sense with this stock!
BLTSW and QLGN Consolidate After Explosive Runs
Company Snapshot
Company Name: Bright Lights Acquisition Corp.
Ticker: BLTSW
Exchange: NASDAQ
Website: https://www.brightlightsacquisition.com/
Company Summary:
Bright Lights is a blank check company that was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Bright Light’s efforts to identify a prospective target business are not limited to a particular industry or geographic region, but Bright Lights intends to focus on businesses operating in the consumer products and media, entertainment and sports sectors. t
Why did it go up over 100%?
MANSCAPED, a leader and pioneer in men’s grooming, has entered into a definitive business combination agreement with Bright Lights Acquisition Corp.
What does MANSCAPED do?
Founded by Paul Tran in 2016, San Diego, California-based MANSCAPED™ is the leading men’s lifestyle consumer brand and male grooming category creator trusted by over four million men worldwide. The product range includes a diversified line of premium tools, formulations, and accessories that are intelligently designed to introduce a whole new self-care routine for men.
5 Day Chart
Technical Overview
We like it! It jumped over 30% on acquisition news and had a moderate retrace and showed bullish tendency by midday and after market trading was very bullish reaching a new high. Be very careful in premarket buying, if it is crazy action we advise you to wait for a sell off at the bell and then make a decision on the trade based on a new pull back low in regards to the previous lows of Tuesday. As long as the lows are continuously higher than the last lows, this appears to be a stable play.
Company Snapshot
Company Name: Qualigen Therapeutics, Inc.
Ticker: QLGN
Exchange: NASDAQ
Website: https://www.qualigeninc.com/
Company Summary:
Qualigen is a biotechnology company focused on the development of novel therapeutic products for the treatment adult and pediatric patients with rare cancers, as well as expansion of its flagship FastPack® diagnostic platform.
Why did it go up over 100%?
On November 15, 2021, Qualigen Therapeutics, Inc. (NASDAQ:QLGN) announced financial results for the third quarter of 2021. The company reported $1.2 million in revenues for the third quarter of 2021, compared to $0.8 million for the three months ending September 30, 2020. The increase was primarily due to a recovery from the effects of the COVID-19 pandemic. The cost of product sales in the third quarter of 2021 were $1.0 million, or 86% of net product sales, compared to $0.9 million, or 110% of net product sales, for the three months ending September 30, 2020. The increase was primarily due to higher unit volumes of product sales, and the improvement in gross margin percentage was due primarily to economies of scale.
5 Day Chart
Technical Analysis
We have seen a strong bullish tendency since the news and has been consolidating around $2.50 since the 150% increase. The stock is performing well with strong technicals and fundamentals. We believe in waiting until a strong definitive signal is clear until a decision is made in regards to the future movement of this stock. It’s consolidating and looks like it could still run but until it breaks out of the consolidation trend, trade carefully with stop orders.