Tuesday, July 16, 2024
Home Stock Analysis New psychedelic drink piques investor interest

New psychedelic drink piques investor interest

by xyonent
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Focus List🔎

QSG – Up more than 23% sequentially after announcing up to $20 million in share repurchase program

CMND – Pres jumps more than 20% after psychedelic-based drink enters $13 billion non-alcoholic beverage market

RCRT – The stock rose more than 19% from the previous day after the Nasdaq Board of Review announced that it had approved its continued listing.


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Hot List🔥

QSG – up more than 23% sequentially after announcing up to $20 million in share repurchase program

Quantasin Group LimitedQuestion) provides online learning services in the People’s Republic of China. The company offers online courses in financial literacy, short video production, personal health, electronic keyboards, meditation courses, and more.

Outside business hours yesterday, The company announced The Company announced that its Board of Directors has authorized a share repurchase program under which the Company may repurchase up to US$20.0 million of its Class A common shares in the form of American Depositary Receipts (“ADSs”) during the twelve month period commencing June 11, 2024.

According to FinvizThe company’s stock had a market capitalization of $62.9 million and 38.59 million shares outstanding.

The stock price rose more than 23% in premarket trading following the share repurchase plan.

The $1.90 area is acting as support in the pre-market phase and will be an important level to watch.

Above that, upside targets include $2.10, $2.20, $2.40 and the pre-market high of $2.69. Above that, $2.80, $3 and $3.20 are in play.

A break below $1.90 would give a downside target of $1.80, followed by a gap fill at $1.63 and below that $1.52.


CMND – Pres rises more than 20% after psychedelic-based drink enters $13 billion non-alcoholic beverage market

Clear Mind Medicine Inc.CMND(NYSE: BASF) is a clinical pharmaceutical company developing novel psychedelic drugs to treat underserved health problems in Canada and abroad. The company develops treatments for alcohol use disorders, psychiatric disorders, excessive drinking, obesity and metabolic disorders, eating disorders, depression, overeating, psychotherapy and other addictions and binge eating behaviors.

In the pre-market this morning, The company announced The company would enter the $13 billion non-alcoholic beverage market with its hallucinogen-based drinks.

Clearmind’s alcohol alternative has been patented in the U.S., India and Europe. The project is led by Nicholas Kadysh, a former Red Bull Canada and Juul Labs Canada executive who serves as an executive special advisor to the company.

Shares rose more than 20% in premarket trading on the news.

The first objective for bulls is the pre-market high of $1.33, above which $1.50, $1.80 and $2 will be in play.

A break below $1.33 could see downside targets of $1.20, $1.08 and the gap-fill price of $1.02.


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RCRT – Pres jumped more than 19% after announcing it had been cleared to continue listing by the Nasdaq Board of Review

Recruitment Information Group Co., Ltd. (RCRT) operates an on-demand recruiting platform in the United States and internationally. It provides consulting and staffing services for the placement of professional recruiters, and consulting and staffing services to employers.

In the pre-market this morning, The company announced have received a letter from the Nasdaq Listing Qualification Staff certifying that they have certified that they are in full compliance with all requirements for a continued listing on the Nasdaq Capital Market, including the minimum capitalization requirements set forth in Nasdaq Listing Rule 5550(b)(1) (the “Minimum Capitalization Requirements”);

On August 17, 2023, staff notified the company that it was not in compliance with the minimum shareholder capital requirements.

The Company will be subject to a “panel monitor” status, as that term is defined in Nasdaq Listing Rule 5815(d)(4)(A), until June 6, 2025.

Shares rose more than 19% in premarket trading on the news.

The first objective for bulls is the pre-market high of $2.71, above which $3, $3.40, and $3.80 will come into play.

A break below $2.71 would see a downside target of $2.38, followed by a gap fill at $2.26 and $2 below that.


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