Uxin,the largest used car e-commerce platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2019. Up 7% on 64 000 shares traded in the premarket, 7:16am. Link to report (don’t ever trust a Chinese micro-caps earnings report. Their accounting standards are “state secrets”
From SEC report” China’s state security laws are invoked at times to limit U.S. regulators’ ability to oversee the financial reporting of U.S.-listed, China-based companies. In particular, Chinese laws governing the protection of state secrets and national security have been invoked to limit foreign access to China-based business books and records and audit work papers. As a result, for certain China-based companies listed on U.S. stock exchanges, the SEC and PCAOB have not had access to the books and records and audit work papers to an extent consistent with other jurisdictions both in scope and timing”.
Dow up 122 points in the premarket @ 7:17 AM
RVLV following through after a very strong IPO, up 14% on 150 000 shares traded so far in the premarket, 7:30am. Citron Research, a well known short seller, even gives it a buy rating. According to online banter, this was Citrons first buy rating ever initiated for an IPO
BYND also experiencing follow through in the pre after strong earnings. That option buyer must be having a parade right now. Apparently someone bought 1000’s of calls the day before the report
Raytheon up 10% in the premarket on 22,492 shares traded after reporting an all-stock merger with United Technologies, CNBC reports.
Tableau software up 34% on 56,828 after Salesforce.com announces they plan to buy the company in an all stock deal, CNBC reports.
Provention Bio Inc up 157% on 139,584 as of 7:48 am after reporting positive results from their NIH-Sponsored “At-Risk” Study which was published in The New England Journal of Medicine and Presented at the American Diabetes Association Annual Meeting.
From PR ,”Results from the study showed that a single 14-day course of PRV-031 (teplizumab) significantly delayed the onset and diagnosis of clinical T1D, as compared to placebo, by a median of 2 years in children and adults considered to be at high risk. The median time to clinical diagnosis of T1D for placebo participants was just over 24 months. In comparison, the median time for PRV-031 (teplizumab)-treated participants to clinical diagnosis of T1D was just over 48 months (p=0.006). During the trial, 72% in the placebo group developed clinical diabetes compared to only 43% of the PRV-031 (teplizumab) group. PRV-031 (teplizumab) was well tolerated and the safety data were consistent with prior studies in newly diagnosed patients” Read more
For the second time this year, TLRY and Privateer holdings will extend the lockup agreement on the 58,333,333 restricted shares that have yet to begin trading in the secondary markets , Financial Post reports.
Near the end of December, as the lock-up was nearing its 6 month expiration period, many investors were intuitively aware of the fact that these shares would significantly dilute the price. This caused TLRY’s highly inflated share price to crash from $100 to $60 in only a few weeks. In an apparent response to this market reaction, Privateer made a promise to investors back in January that they would extend the lock up period, which was a surprise to many traders and investors. TLRY was already trading at an almost incomprehensible premium to its earnings and underlying assets at the time, so it only seemed logical that Privateer would want to sell at these inflated prices ASAP. The price went on to rally back up to $100 from as low as $64.
TEUM up 15% on 508,844 shares traded @ 8:48am from what looks like short covering after well known short seller, Aurelius Value, calls the company “uninvestible”. Read the report
NovaBay Pharmaceuticals Launches Avenova® Direct on Amazon.com, up 400%!!! WOW!!! Read more Check out the company ownership structure below!
564% percent now, 10 minutes later!!!! 600%!!!! 60% of the float is controlled by two entities/people!!
WKHS up on the exact same news that was released at the end of last week. They secured financing, then secured the second scheduled tranche today. The filing from today was almost identical to the one released on June.06th, last Thursday….
Aurelius gives us a twitter update on TEUM
Dow rises 70 points, its 6th straight green day in a row. read more here
Stay tuned for updates!!