From the Razor Trading Desk (Wednesday July 8th, 2020)
- Nanoviricides, Inc (NNVC)
NNVC NEWS: Covid-19 Treatment Tests In Animal Model
Pre-market trading started strong today with NNVC leading the charge. This stock had its first spike at 5:16 AM CST from $6.97 to $9.20 and then pulled back to $8.36. There was a continued surge to $10.88 which was also the pre-market high.
That is pretty much the end of the story as day traders are jumping on these morning gappers quicker and quicker and selling into the less fortunate chasers.
The open didn’t offer much as there were a few fake outs and two pushes over VWAP that faded fast.
Gap 38.7%; Closing Price $8.71; High of Day $10.88; Low of Day $8.02; Range $1.95; 32 Million Shares Traded; Float 5.18M; Market Cap 81M.
- Corvus Pharmaceuticals, Inc (CRVS)
CRVS NEWS: Trial For Immunotherapy Covid-19 Patients
CRVS was a top 10 gapper too due to Wedbush increasing their price target after hours from $5.00 to $8.00. I picked up shares moments after the announcement in anticipation of a gap and a continued moved in the AM since this stock had eyes everywhere. I flipped out my 400 shares for a $350.00 profit and right before the stock pulled back.
Gap 17.7%; Closing Price $5.37; High of Day $5.85; Low of Day $5.00; Range $0.85; 12 Million Shares Traded; Float 16.4M; Market Cap 140M.
- Senmiao Tech Ltd (AIHS)
AIHS NEWS: Signs Investment Agreement With Hongyi – 7M Auto Business
This was the leading gapper during pre-market at 64.2%. A lower priced stock that had a previous day close at 0.83. A news item propelled this stock to a high of $2.26 two minutes after the open and then it was mostly a fade throughout the morning hours.
Gap 64.2% Closing Price $1.25; High of Day $2.26; Low of Day $1.25; Range $1.01; 100 Million Shares Traded; Float 27.72M; Market Cap 46M.
- China Finance Online (JRJC)
JRJC NEWS: None Noted – Low Float @ 1.8M
This low float stock hit the Trade Ideas momentum scanner at 8:49 AM CST and made a nice $3.00 move inside of 15 minutes. Profit takers and short sellers made this stock pull back in lightning speed relatively close to where it originally started.
Momo Scanner – No Gap; Closing Price $10.20; High of Day $10.68; Low of Day $7.21; Range $3.47; 1 Million Shares Traded; Float 1.8M; Market Cap 19M. .
$JRJC – $3.47 Daily Range; 5 Minute Chart & 1 Minute Chart. Lime Green Exponential Moving Averages = Big Move
