Local Bounti Corp [LOCL] - Last Close: $0.4494
Local Bounti just made a big announcement, and shares are turning higher.
The tiny next-gen agriculture firm announced a major cash injection during its full-year 2022 earnings report on Wednesday morning.
Local Bounti generated sales of $19.5 million, a drastic increase from 2021's $600,000 sales figure, on a loss of $1.07 per share.
The company also secured a total of $145 million in new financing from a new credit facility deal with Cargill Financial Services and a sale-leaseback deal with a net-lease real estate investment trust.
Local Bounti said the new financing will support its growth plans, and it will increase production immediately to meet accelerating demand for its products.
LOCL is today's top premarket stock with a 71.3% gain on the news.
My Take: This could be an interesting growth stock to watch. Next-gen farming could enjoy substantial support from both the public and private sectors in the years ahead, and LOCL is growing revenues at an impressive rate.
Birds Global [BRDS] - Last Close: $0.1938
Birds Global is continuing its hot streak in today's premarket.
The micromobility stock gained 42.1% on Tuesday after a Form SC 13D/A filing revealed Craft Ventures had amassed a significant position in the company.
A day earlier, Birds Global also announced that several officers and directors had just purchased a total of 1.5 million shares.
CEO Share Torchiana said the insider buys "reflect our ongoing confidence in Bird's future and our ability to increase long-term shareholder value.
No major news has been reported since these headlines hit the market, but BRDS is still trending higher.
Shares of BRDS are up 25.6% in today's premarket, making it one of the morning's top stocks.
My Take: It looks like the short squeeze is officially "on" in this stock after yesterday's rally. BRDS continues to trend higher as a result of short sellers scrambling to buy shares and cover their positions. However, there could only be limited upside left in this move.
