From the Razor Trading Desk (Friday July 17th, 2020)
- Verona Pharma Plc ADS (VRNA)
VRNA NEWS: Raises $200 Million in Oversubscribed Placement
News hit as early as 1:00 AM CST and again at 5:13:13 with Verona Pharma Raising 200 Million in Oversubscribed Offering.
The stock didn’t started moving immediately. It began spiking pre-market at 6:01 AM from $5.00 to nearly $10.00, a 100% move by 6:14 AM! Day traders reacted to the news and the stock was heavily traded to 95 million shares and was volatile all day.
Gap 107.2%; Closing Price $10.20; Pre-Market High $10.84; High of Day $15.71; Low of Day $8.00; Range $7.71; 95 Million Shares Traded; Float 8.5M; Market Cap 136M.
- Rumbleon, Inc (RMBL)
RMBL NEWS: Continuation from 7/16//20 After Hours – Partnership With CarGurus
A deal with CarGurus had this stock spiking after hours on 7/16 from a closing price of $10.72 to $19.65. During pre-market this stock was tough to trade and was seriously volatile starting at 3:00 AM CST.
Within 24 hours, this stock moved up $28.00! You would have wanted to be quick to take profits on this one as it closed over $13.00 off the high of day.
Gap 88.2%; Closing Price $25.66; Pre-Market High $27.49; High of Day $38.82; Low of Day $18.06; Range $20.76; 38 Million Shares Traded; Float 1.97M; Market Cap 57M.
- Applied DNA Sciences, Inc (APDN)
APDN NEWS: Sees Progress With Covid-19 Vaccine Candidate
There was significant strength and severe slope angles on EMA’s. If you don’t know, EMA’s are Exponential Moving Averages that place more weight are recent prices of a stock. SMA’s or Simple Moving Averages are different since they use equal weight on stock pricing.
When APDN started spiking, it was during pre-market at 5:20 SM CST and the EMA’s almost looked to be pointing straight up.
Most day traders brokerage houses don’t offer trading that early so they were out of luck. But for some fortunate traders, they had the opportunity to catch an $8:00 move before 6:00 AM CST.
The best trading time for this stock was pre-market. We have been seeing more and more stocks popping up pre-market and selling off when the market opens.
Gap 44.6%; Closing Price $10.73; Pre-Market High $17.64; High of Day $14.84; Low of Day $10.07; Range $4.77; 22 Million Shares Traded; Float 4.29M; Market Cap 22M.
- Cohen & Co, Inc (COHN)
COHN NEWS: None Noted
A stock that hit the Trade Ideas high of day momentum scanner at 2:31 PM CST on no news and spiked hard and fast going into the close and after the close.
In a little over a half hour, COHN made a $6.10 move. Sometimes it really pays off to just sit at your computer and be patient for the Trade Ideas high of day momentum scanner to tell you to when to jump. Because, when you catch moves like these, you will always say “How High”.
Closing Price $12.10; Extended-Hours High $14.50; $High of Day $12.10; Low of Day $7.74; Range $6.49; 478K Shares Traded; Float 607K; Market Cap 15M.
$COHN Making A Move – High of Day Momentum Scanner – Trade Ideas
