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ACHR – Up over 20% in pre-market after settling lawsuit with Wisk Aero, and announcing investment from Boeing
WE – Up over 24% in pre after closing up 43% in yesterday’s trade
RGTI – Up over 15% after earnings beat, raised price target
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ACHR – Up over 20% in pre-market after settling lawsuit with Wisk Aero, and announcing investment from Boeing
Archer Aviation Inc. (ACHR) is an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers.
Late yesterday, the company announced that it had reached an agreement with Wisk Aero and Boering to reach an agreement and settle litigation. They also announced that Boeing would invest in Archer’s latest funding round along with Stellantis, United Airlines, ARK Invest and others.
The stock is up over 20% on the news.
The $7 area has acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $7.40, $7.50, $7.80 and then the after-hours high of $8. Beyond that $9, $10 and $10.50 come into play.
Below $7, there is potential support $6.75, $6.50, $6 and a gap to fill at $5.83.
WE – Up over 24% in pre after closing up 43% in yesterday’s trade
WeWork Inc. (WE) provides flexible workspace solutions to individuals and organizations worldwide. The company offers workstation, private office, and customized floor solutions; and various amenities and services, such as private phone booths, internet, high-speed business printers and copiers, mail and package handling, front desk services, off-peak building access, common areas, and daily enhanced cleaning solutions.
After reporting worse than expected earnings on Wednesday, WE closed down over 38% to make new all-time lows on record volume up to that point. However, as potentially bankrupt stocks have been hot recently (such as YELL) the following day WE saw heighted retail investor interest and it appears momentum funds stepped in. The stock was down over 90% over the past year, and dip buyers stepped in yesterday and WE closed yesterday up over 43%, while at one point being up over 100% on more than triple the prior day’s record volume.
The stock is up 24% and is in play again this morning.
$0.20 was an area of resistance and has since begun to act as support.
Above it, targets to the upside are $0.23, $0.26, $0.30 and then yesterday’s high of $0.3265. Beyond that, $0.40, $0.50 and $0.60 come into play.
Below $0.20, there is potential support at $0.18, $0.16 and $0.14, with the all-time low at $0.1248.
RGTI – Up over 15% after earnings beat, raised price target
Rigetti Computing, Inc. (RGTI) through its subsidiaries, builds quantum computers and the superconducting quantum processors.
The stock has been in play recently with hype surrounding the potential breakthrough LK-99 superconducting compound that could change the semiconductor industry.
Yesterday the company reported Q2 EPS of -$0.13 vs -$0.17 expected on sales of $3.33 million vs $2.75 million estimated.
The stock is up over 15% on the earnings release.
The $1.94 has acted as resistance in the after-hours and pre-market and will be an important level to watch.
Above it, the first target for bulls will be the pre-market high at $2.03. Beyond that, $2.07, $2.20, $2.40, $2.60 and $2.80 come into play.
Below $1.94, there is potential support at $1.85, $1.80, $1.75, $1.70 and gap to fill at $1.64.
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