April 16, 2024
AI stocks heating up AGAIN ?

AI stocks heating up AGAIN ?

  

A “HUGE” BREAKOUT OPPORTUNITY

Here are our top investing ideas today – these setups look primed! Be the best prepared trader on the Street!

GFAI – Closed up over 43% after buyers return to artificial intelligence stocks

PLXP – Up over 100% this morning after Park West Asset Management LLC took a 4.9% stake in the company on Thursday

RLYB – Up over 24% in pre-market after Wedbush announced price target of $17

*A Message on Behalf of FSD Pharma

Biotech stocks are all the rage right now, and here is one you need to definitely look at right now – FSD Pharma (Nasdaq: HUGE).

One of the original Sharks? on Shark Tank, Kevin Harrington, just posted that he is excited to be working with FSD Pharma (Nasdaq: HUGE) on an upcoming “breakthrough new product” that could be an absolute gamechanger.

We are in the early stages of something that could be truly revolutionary right now. The stock is already up over 100% so far this year as investors are learning more about the opportunity at hand… and we could just be getting started!

A perfect “100% BUY” rating on Barchart just about says it all when it comes to the technicals for the price chart right now.

There is a lot to love about FSD Pharma (Nasdaq: HUGE) right now, so do your own homework on it, and see if this stock should have a place in your portfolio today!

*Sponsored by FSD Pharma. Please see disclosures below.

GFAI – Closed up over 43% after buyers return to artificial intelligence stocks

Artificial intelligence stocks got hit after Kerrisdale Capital issued a short report on C3.ai, ticker AI which had been the head of the snake of artificial intelligence plays. That sent the rest of the sector down with it.

However, after C3.ai (AI) issued a statement in regards to the short report, buyers returned to AI plays Thursday. Guardforce AI (GFAI) was the leader Thursday closing up over 43%. It’s gapping up another 23% in early morning trade from Thursday’s close.

$15.64 was Thursday’s high and should be an important level of potential support today.

Above it, potential targets to the upside are $18.79, $19.19, and $21, then $23.50 comes into play.

Below $15.64, there is potential support at $14, $13.50 and $12.70 with $12 below that. This move began around $9.

PLXP – Up over 100% this morning after Park West Asset Management LLC took a 4.9% stake in the company on Thursday

PLx Pharma (PLXP) traded on increased volume on Thursday, but the move didn’t come until after hours. Thursday pre-market the company reported that Park West Asset Management LLC had taken a 4.9% stake in the company.

There was not much price movement, but there was increased volume. It wasn’t until after-hours Thursday until the stock rocketed over 70%. This morning that strength has continued, with PLXP now up around 120% from Thursday’s close. The stock is trading around $0.25 in the pre-market. The stock was trading above $2 in 2022.

The $0.20 level was support in the pre-market and that should be a major level to watch today.

Above that, the first major target for bulls would be the pre-market high at $0.2905 although $0.26 is also a level of resistance. Above $0.2905 targets to the upside are $0.32, $0.35, $0.40, $0.46 and $0.50, with a gap to fill at $0.60.

Below $0.20, there is potential support at $0.16, $0.15, $0.12 and then a gap to fill at $0.1051.

RLYB – Up over 24% in pre-market after Wedbush announced price target of $17

Rallybio (RLYB) is trading higher this morning after Wedbush initiated coverage on the stock with an Outperform Rating and announced a $17 price target.

Last week RLYB announced clinical proof of concept results for RLYB 211 an Anti-HPA-1a Polyclonal Antibody for the prevention of Fetal and Neonatal Alloimmune Thrombocytopenia (FNAIT) published in the Journal of Thrombosis and Haemostasis. It’s a rare bleeding disorder.

$5.21 was a support area in the pre-market and should be a major level to watch this morning.

Above it, targets to the upside are $5.47 and then the pre-market high of $6.14, with $6.50 and $7 above that.

Below $5.21 there is potential support at $5, with a gap to fill at $4.91 with $4.70 and $4.30 targets below that.

10:00am Wholesale Inventories

4:15pm Fed Speaker John Williams

Earnings for Today (After Market)

TSLA: Tesla opening Megapack factory in Shanghai to supplement output of Megapack factory in California — ELON MUSK TWEET

TSLA: Tesla is increasing production rapidly in Texas, California & Nevada. Our competitors require subsidies, not us. That said, if competitors get subsidies, Tesla should get them too. Tesla’s competitive position would improve if all subsidies ended. — ELON MUSK

BG Bunge to Acquire Louisiana State-of-the-Art Refinery from Fuji Oil Enhancing its Position in the Vegetable Oils Market

BORR Borr Drilling Limited – Announcement of new contract

INTC Intel leak has U.S. officials bracing for impact at home and abroad – Reuters

AAPL: IDC Reported Sunday: Apple Global PC Shipments Fell 40.5% In Q1 YoY; Dell Shipments Fell 31%

NIO: Nio Cuts Delivery Times Again While Tesla Model Y China Buyers Keep Waiting

LLY Eli Lilly warns EU will miss out on key drugs under new patent rules – FT

UBER – Emirates Telecom to buy 50% of Uber’s Careem super app

DRRX DURECT Announces Peer-Reviewed Article Accepted for Publication with Additional Data from Previously Completed Phase 2a Study of Larsucosterol in Alcohol-Associated Hepatitis

AULT: Ault Alliance Announces Special Dividend with a Record Date of April 20, 2023

PKX up pm on a recovery in steel demand and solid future growth in its battery-material business.

IMOS – ChipMOS March revenue improved for second straight month amid uptick in LCD drivers demand

LODE: Comstock Advances Asset and Facility Sales for $27 Million

IGT: IGT Signs Three-Year Sports Betting Contract Extension with Rhode Island Lottery

MNK Mallinckrodt to Present Data on TERLIVAZ(R) (terlipressin) for Injection in Adult Patients with Hepatorenal Syndrome (HRS) at the National Kidney Foundation (NKF) 2023 Spring Clinical Meeting (SCM)

TLSA: Tiziana Life Sciences Announces Presentations on Intranasal Foralumab at the “Preserving the Brain” Scientific Conference and Exhibit at Prada Rong Zhai in Shanghai

CSIQ: Canadian Solar Unites Global Energy Development and Services Under Recurrent Energy Brand

CANF Can-Fite: EMA Gives Green Light for Piclidenoson Pivotal Phase III Clinical Trial for Psoriasis Treatment

AMPY: Amplify Energy Commences Restart Operations at Beta Field

FOCS Focus Financial Partners Announces Expiration of “Go-Shop” Period in Connection with its Acquisition by Clayton, Dubilier & Rice

AMZN Whole Foods Markets is exploring building off-site kitchens to supply food bars – WSJ

PRTK: Paratek Pharmaceuticals Presenting New Data from NUZYRA(R) (omadacycline) and Investigator-Initiated Research Programs at the European Congress of Clinical Microbiology & Infectious Diseases (ECCMID) 2023

EQT: EQT And Wheeling Park Commission Launch Forestry Management Program at Oglebay

ABEO Abeona Therapeutics Announces Multiple Abstracts Accepted from its AAV Ophthalmology Program at the 26th Annual Meeting of the American Society of Gene & Cell Therapy (ASGCT)

BBBY Bed Bath & Beyond Inc. Addresses Important Information Ahead of Special Meeting of Shareholders on May 9, 2023, seeking holder approval for reverse stock split.

ENVX: Enovix Issues Purchase Orders for Agility Line and Completes Gen2 Autoline Equipment Orders

EWJ Japan’s new central bank chief vows to guide policy ‘flexibly’ Cnbc

MDU MDU Resources Announces Launch of Knife River Holding Company’s Notes Offering in Connection with Anticipated Knife River Spinoff

CUTR J. Daniel Plants and David Mowry Call for Special Stockholder Meeting to Reconstitute Cutera’s Board

VTOL Argus Research Initiates Equity Research Report Coverage on Bristow Group Inc. (NYSE:VTOL)

CANO Concerned Shareholders of Cano Health Issue Open Letter Regarding the Urgent Need for Leadership and Strategy Changes at the Company

To Your Success!

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