My Take: SEDG has been trading in a very narrow range for months, and it's facing stiff resistance at around $335 per share. There could be some decent upside left from its current price point, but breaking through will be tough.
Arconic [ARNC] - Last Close: $22.55
Rumors of a potential buyout are boosting shares of Arconic.
This morning, the company announced that Apollo Global Management [APO] had agreed to acquire it in an all-cash deal worth $5.2 billion.
Under the terms of the deal, ARNC shareholders will receive $30 apiece for each share of common stock.
The deal also includes a minority investment from funds managed by affiliates of Irenic Capital Management.
Upon closing, Arconic will become a privately-held company.
Shares of ARNC are up 27.9% on news of the buyout.
My Take: ARNC is currently trading for $28.85 per share, so there's not a lot of upside to work with here.
Soligenix [SNGX] - Last Close: $1.42
A promising clinical update is rallying shares of Soligenix.
This morning, the biopharma firm unveiled positive clinical results from a study evaluating HyBryte⢠as a treatment for certain types of lymphoma.
All patients in the study had notable improvements in their condition as measured by a CAILS scoring system.
The study found that most patients noted significant improvements, while 14.8% reported symptoms that were "completely resolved" after as little as 8 weeks.
CEO Christopher Schaber said, ""These results reinforce the positive HyBryte⢠data from the FLASH study."
SNGX is up 270.4% on the promising product update.
My Take: SNGX is a very tiny float stock with a 5.21% short ratio, so there could be some elements of market manipulation going on with this triple-digit run. Don't get caught holding the bag.
SaverOne [SVRE] - Last Close: $1.16
SaverOne is trending after a successful concept demonstration.
The tech company announced the completion of a pilot demonstration of its protection system with the Abu Dhabi Ministry of Transport.
SaverOne said its technology successfully prevented distracted driving due to mobile phone use among bus drivers.
Company reps say the demonstration was a success and the company is making suggestions for specific customizations for the Abu Dhabi bus system.
SVRE is up 35.3% on news of its technology's success.
My Take:This could be a promising growth play. SVRE's market cap stands at only $1.85 million, so this company could have significant upside if its product takes off.
