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FOCUS LIST🔎
FFIE – Up over 23% in the pre-market after announcing $30 million in financing commitments from the Middle East, the United States, and Asia and regains compliance with all Nasdaq continued listing criteria
BLMZ – Up over 40% in pre after announcing strategic business alliance with CrossVision to create joint entertainment offerings
PATH – Up over 8% in pre after beating earnings estimates, raising guidance and increasing buyback
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HOTLIST🔥
FFIE – Up over 23% in the pre-market after announcing $30 million in financing commitments from the Middle East, the United States, and Asia and regains compliance with all Nasdaq continued listing criteria
Faraday Future Intelligent Electric Inc. (FFIE) engages in the design, development, manufacture, engineering, sale, and distribution of electric vehicles and related products in the United States.
Overnight, the company announced that it has obtained $30 million in financing commitments from the Middle East, the United States, and Asia
The involvement of Master Investment, an investment firm of Sheikh Abdulla Al Qassimi from Ras Al Khaimah, UAE, a Middle Eastern investor highlights Faraday Future’s successful regional expansion and strengthens its global business position.
The new financing commitment includes a previously funded $7.50 million and $22.50 million of new investment (the “Financing”) in the form of convertible notes (“Convertible Notes”) and warrants to acquire additional shares of the Company’s common stock (“Warrants”). The conversion price for the Convertible Notes and exercise price for the Warrants, are $5.24 and $6.29 per share, respectively, subject to adjustment as set forth therein.
The company also announced that it has regained compliance with all Nasdaq continued listing criteria.
The stock traded up over 23% in the pre-market in reaction to the news.
$6 acted as support in the pre-market and now becomes a potential resistance level.
Above it, targets to the upside are $6.50, $7 and then the pre-market high at $7.26. Beyond that, $7.80 and $8.89 come into play.
Below $6, targets to the downside are $5.47 and then a gap fill at $5.21 with $4.81 below that.
BLMZ – Up over 40% in pre after announcing strategic business alliance with CrossVision to create joint entertainment offerings
BloomZ Inc. (BLMZ) operates as an audio producing and voice actor managing company in Japan. The company offers audio production services; and VTuber, a virtual character creation and management service that enables streamers to provide their voice to stream real-time videos of human facial expressions and gestures.
In the after-hours yesterday, the company announced that on September 4, 2024, it entered into a business alliance agreement with CrossVision Inc., a Japanese digital entertainment company specializing in Web 3.0 technology, to create joint entertainment offerings.
Through cooperation with CrossVision, BloomZ plans to combine its expertise and network in the animation and VTuber industries with CrossVision’s advanced Web 3.0 technology. Together, BloomZ and CrossVision aim to enhance fan engagement with blockchain technology, and live events in the metaverse.
The stock traded up over 40% in the pre-market in reaction to the news.
The $1.13 area acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $1.20, $1.40, $1.50 and then the after-hours high at $1.59. Beyond that, $1.79 and $1.98 comes into play.
Below $1.13, targets to the downside are $1 and then a gap fill at $0.8080.
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PATH – Up over 8% in pre after beating earnings estimates, raising guidance and increasing buyback
UiPath Inc. (PATH) provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.
In the after-hours yesterday, PATH reported Q2 financial results.
Highlights include:
Annual recurring revenue, or ARR, rose 18% to $1.55B in Q2 from a year earlier.
For Q3, the company forecast revenue in the range of $345M to $350M, in line with estimates of $347.31.
Looking further ahead, the company forecast full-year 2025 revenue in the range of $1.42B to $1.43B, up from the prior guidance of $1.40B million to $1.41B.
ARR outlook was also raised to the range of $1.665B to $1.67B, up from the previous $1.66B to $1.665B.
An upsized share buyback program by $500 million.
The stock traded up over 8% in the pre-market in reaction to the news.
The first target for bulls is the after-hours high at $14.10.
Beyond that, $15, $16, $17 and $18 come into play.
Below $14.10, targets to the downside are $13.75, $13.55, $13.31, $13 and then a gap fill at $12.74.
MARKET NEWS 📰
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