From the Razor Trading Desk (Tuesday July 21st, 2020)
- Immuron Ltd ADR (IMRN)
IMRN NEWS: Continuation + Drug Component Can Neutralize Corona Virus & $20M Direct Offering
It was more news and another continuation move for IMRN today. Again, the stock did not hold its gains just like the day before as it closed down $6.00+ off the high of the day.
This stock held up better than yesterday as the positive news compounded. Even though there was a direct offering and it’s typically perceived as a negative, the offering price remained high.
Gap 88.3%; Closing Price $14.81; Pre-Market High $25.82; High of Day $21.30; Low of Day $13.90; Range $7.40; 25M Million Shares Traded; Float 3.47M; Market Cap 66M.
- Midatech Pharma Pic American (MTP)
MTP NEWS: Collaborates for the Q-Sphere Platform
MTP was a big gapper starting at 3:41 AM CST. A move from $1.70 to $2.93 inside of 5 minutes.
Volatility continued in particular at the open where we saw a surge to $6.86. This was followed up with a pullback that dipped just below VWAP but recovered. VWAP price $5.08
After new highs on the one minute chart and stubby candlesticks stair stepping up, there was another move above the VWAP at $5.08 to a high of day at $7.07.
Gap 81.8%; Closing Price $4.30; Pre-Market High $4.02; High of Day $7.07; Low of Day $3.06; Range $4.01; 200M Million Shares Traded; Float 5.15M; Market Cap 34M.
- JanOne Inc. (JAN)
JAN NEWS: FDA Approval to Transfer Investigational Sodium Nitrate Tablets
A big engulfing candle to the tune of a $2.00 move in a minute is how JAN showed herself.
Another catalyst with an FDA Approval that pushed this stock to a new place that it hasn’t seen in months.
This is a nano cap stock with a 7.1 Million Market Cap that rarely holds its gains so if you trade it, get in for the surge and get out before it fades.
Gap 57%; Closing Price $3.56; Pre-Market High $6.38; High of Day $5.65; Low of Day $3.51; Range $2.14; 3 Million Shares Traded; Float 1.47M; Market Cap 7.1.
- Owen & Minor, Inc (OMI)
OMI NEWS: Baird Raises OMI to Outperform from Neutral Price Target to $14 from $8
There was some pre-market movement but the real price increase started at 8:42 AM after the bell rang when OMI went from $10.30 to $15.40.
It wasn’t a loaded volatility move from this small cap as this 907 million dollar market cap stock grinded its way to a $15.40 high of day.
This is one of the few small caps that held up well above VWAP for the day as it OMI closed towards the top 75% of the daily candle.
Gap 29.2%; Closing Price $14.40; Pre-Market High $10.77; High of Day $15.40; Low of Day $10.16; Range $5.24; 61M Shares Traded; Float 60.49M; Market Cap 907M.
Top Gappers – Trade Ideas Scanner – $IMRN $MTP $JAN $OMI
