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FOCUS LIST🔎
SMX – Up over 70% in the pre-market after announcing heads of agreement with Ybyra Capital, setting stage for merger of companies
JFBR – Up over 50% in pre after announcing it has regained compliance with Nasdaq minimum bid price rule
ASAN – Up over 25% in pre after reporting better than expected Q3 earnings
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HOTLIST🔥
SMX – Up over 70% in the pre-market after announcing heads of agreement with Ybyra Capital, setting stage for merger of companies
SMX (Security Matters) Public Limited Company (SMX), through its subsidiaries, provides solutions for authentication and track and trace challenges. Its proprietary marker system embeds a permanent or removable mark on solid, liquid, or gaseous objects or materials.
In the pre-market this morning, the company announced that it had signed a non-binding Heads of Agreement with Ybyra Capital (B3:YBRA4), an emerging holding company focused in commodities and real estate development in South America.
This Heads of Agreement sets the initial foundation for a potentially transformative merger, which upon completion would combine SMX’s advanced digital platform traceability technologies with Ybyra’s asset base and operational infrastructure, to create synergies to drive transparent and accountable global trade.
Key Highlights of the Heads of Agreement
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Asset Contribution and Valuation- Ybyra Capital will contribute certain fertilizer holdings, real estate assets and other assets in Brazil to a newly created Irish private company wholly owned by SMX. An independent appraiser will establish the valuation of these assets.
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Share Swap Structure- Ybyra shareholders will receive shares in SMX in exchange for the contributed assets.
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Definitive Shareholder Meeting- SMX and Ybyra will each call a special shareholder meeting to approve the transactions, after finalizing definitive and binding agreements.
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Projected Completion Date- The parties are targeting the first half of 2025 to close the merger.
Shares of SMX traded up over 70% in the pre-market in reaction to the news.
The first target for bulls is the pre-market high at $0.5495. Beyond that $0.76 and $1 come into play.
Below $0.5495, targets to the downside are $0.46, $0.40, $0.35 and a gap fill at $0.2974.
JFBR – up over 50% in pre after announcing it has regained compliance with Nasdaq minimum bid price rule
Jeffs’ Brands Ltd (JFBR) together with its subsidiaries, operates as an e-commerce company. It engages in the sale of various consumer products on Amazon online marketplace.
In the pre-market this morning, the company announced that it has received a written notice from Nasdaq Stock Market LLC, indicating that the Company has regained compliance with the minimum bid price requirement for continued listing set forth in Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share.
The Nasdaq staff made this determination of compliance after the closing bid price of the Company’s ordinary shares was at $1.00 per share or greater for the last 10 consecutive business days.
Shares of JFBR traded up over 50% in the pre-market in reaction to the news.
The $3.45 area acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $3.90, $4.38, $5 and then the pre-market high at $5.30.
Below $3.45, targets to the downside $3.16, $2.70 and then a gap fill at $2.30.
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ASAN – Up over 25% in pre after reporting better than expected Q3 earnings
Asana Inc. (ASAN) together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally.
In the after-hours yesterday, the company reported Q3 top and bottom line above high end of guidance and increased its Fiscal 2025 outlook.
Highlights include:
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Revenues: Revenues were $183.9 million, an increase of 10% year over year.
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Net Loss: GAAP net loss was $57.3 million, compared to GAAP net loss of $61.8 million in the third quarter of fiscal 2024. GAAP net loss per share was $0.25, compared to GAAP net loss per share of $0.28 in the third quarter of fiscal 2024.
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The company stated its on track to deliver positive Free Cash Flow for Q4 and enters new era as multi-product company with the launch of AI Studio.
Shares of ASAN traded up over 25% in the pre-market in reaction to the news.
The first target for bulls is the pre-market high at $19.58. Beyond that, $20, $21, $22 and $23 come into play.
Below $19.58, $19, $18.50, $18, $17.50, $17, $16.30, $16 and $15.46 come into play.
MARKET NEWS 📰
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