I SPY 🔎 I Bullseye DROPPING 🎯 I Gamma Replay 📹
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Good morning, 360! Just a note Jeff’s next Bullseye Pick of the Week is dropping right around the corner. Be the best prepared trader on the Street!
FOCUS LIST
MCOM – Trades up over 35% in pre-market after $9.25 million debt reduction
M – Up over 18% in pre after reports of $5.8 billion buyout offer
PSTX – Up over 12% in pre after presenting positive early Phase 1 results in Relapsed-Refractory Multiple Myeloma treatment
SPOTLIGHT💡
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HOTLIST🔥
MCOM – Trades up over 35% in pre-market after $9.25 million debt reduction
Micromobility.com (MCOM) is an intra-urban transportation company that provides micro-mobility services in Italy and the United States.
This morning, the company announced that it had reduced its debt by $9.25 million with a major financial restructuring. The restructuring involved $9.25 million in debt forgiveness with company CEO Salvatore Palella stating
“it’s a strategic move propelling us towards our goal of profitability.”
The stock was up over 35% in pre-market before pulling back to around 10% higher.
The $1 area is a potential support level.
Above it, targets to the upside are at $1.08, $1.15 and $1.25 with the pre-market high at $1.29.
Below $1, there is potentials support at $0.97 with a gap to fill at $0.9301.
M – Up over 18% in pre after reports of $5.8 billion buyout offer
Macy’s (M) is an omni-channel retail organization, operates stores, websites, and mobile applications in the United States.
Over the weekend, the Wall Street Journal reported that an investor group had recently submitted a bid for $5.8 billion to buyout Macy’s. Arkhouse Management, a real estate firm and Brigade Capital, a global asset management firm had reportedly launched a proposal to acquire M for $21 a share on Dec 1, 2023.
M is trading up over 18% in pre-market around the $20.50 in pre-market as the market digests potential for an increased offer pending due diligence.
$20.50 has acted as support so far in the pre-market and will be an important level to watch.
Above it, targets to the upside are at $21 and then the pre-market high at $21.15. Beyond that, $22, $23, $24, and $26 come into play.
Below $20.50, there is potential support at $19.60, $18 and then a gap to fill at $17.39.
PSTX – Up over 12% in pre after presenting positive early Phase 1 results in Relapsed-Refractory Multiple Myeloma treatment
Poseida Therapeutics (PSTX) is a clinical-stage biopharmaceutical company that focuses on developing therapeutics for patients with high unmet medical needs.
Over the weekend, the company presented early Phase 1 results for its drug Allogeneic CAR-T P-BCMA-ALLO1 in the treatment of Relapsed-Refractory Multiple Myeloma. The early efficacy and safety results were positive and enrollment in the Phase 1 trial is currently ongoing.
The stock traded up over 50% in pre-market on the news before pulling back to around 12% higher.
The $3.50 area found buyers and will be an important level to watch.
Above it, targets to the upside are $4, $4.80 and then the pre-market high at $5.47.
Below $3.50, there is potential support at $3.35 and then a gap to fill at $3.16.
MARKET NEWS
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