Wednesday Short Report: 12/20
Stock momentum, sagging after yesterday’s session, continued its modest downtrend during today’s trading. As US tax reform nears final completion, investors may be facing the reality that any growth from these tax changes may already be priced into markets. Some profit taking is to be expected after a record year for equity markets.
Our blog has focused on long plays in recent weeks: red hot momentum among blockchain and pharmaceutical stocks has biased our Top Performer blogs towards buying opportunities. News Quantified, however, offers its users hundreds of potential short plays every week.
As momentum sags, more and more profitable shorting opportunities are emerging. Today, we examine a few of the best from today’s market.
Atossa Genetics fell over 20% this morning after announcing a new round of direct stock sales to certain registered investors. The shares will only be available via prospectus. The common, publically traded shares of the stock plummeted on the valuation and dilution reflected by this new issuance.
ATOS must be in need of liquid capital: they willingly sacrificed their current stock price for an infusion of cash.
Sorrento Tech has been in a years-long plummet after its stock price reached heights near $100 in 2014. Today could mark one of the final chapters in this dramatic decline, as ROKE announced its voluntary delisting from the NASDAQ this morning.
ROKA will be winding down its stock books in the coming months. News Quantified users managed to enjoy some final short profits on the long, slow decline of this failed biotech stock. The stock was down over 20% at the time of this writing.
Investors dumped SAEX stock this morning after they announced details of their ongoing restructuring plan. SAEX provides oil field support services for the full vertical of exploration to extraction.
Like Atossa, SAExploration’s common stock will be somewhat diluted as part of the restructuring agreement. The stock was down over 15% at the time of this writing.
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