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Hey 360 —

As always, here are our top movers today!

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FOCUS LIST🔎

PEV – Up over 160% in the pre-market after reporting record $9.4 million net revenue and $14.8 million net income forQ1 2024

BENF – Up over 40% in pre after consummating transaction to increase permanent equity by $126 Million

NCNC – Up over 100% in pre after announcing amendments to resolutions for upcoming extraordinary general meeting

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HOTLIST🔥

PEV – Up over 160% in the pre-market after reporting record $9.4 million net revenue and $14.8 million net income for Q1 2024

Phoenix Motor Inc. (PEV) is a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles.

In the after-hours yesterday, the company reportedQ1 2024 earnings.

Highlights include:

Net revenues increased to a record $9.4 million, up from $1.8 million in the prior year period.

Gross profit increased to a record $2.5 million, up from $0.2 million in the prior year period.

Net income increased to a record $14.8 million, or $0.49 per share, up from a net loss of $2.8 million, or ($0.13) per share, in the prior year period; diluted EPS increased to $0.44 per share, up from ($0.13) per share in the prior year period.

Total assets increased to $78.7 million, up from $11.6 million at December 31, 2023.

Stockholders’ equity increased to $23.7 million, up from a negative $4.8 million at December 31, 2023.

The stock traded up over 160% in the pre-market in reaction to the news.

Targets to the upside are $0.90, $1 and then the pre-market high at $1.12. Beyond that, $1.40 and $1.60 come into play.

Below $0.90, targets to the downside are $0.80, $0.60, $0.40 and then a gap fill at $0.3475.

BENF – Up over 40% in pre after consummating transaction to increase permanent equity by $126 Million

Beneficient (BENF) is a technology-enabled financial services company that provides liquidity solutions and related trustee, custody and trust administrative services to participants in the alternative asset industry in the United States. 

In the pre-market the company announced hat its subsidiary Beneficient Company Holdings, L.P. consummated a previously announced transaction pursuant to which approximately $126 million of its preferred equity was redesignated as non-redeemable. 

As a result of the transaction, which was approved by the Company’s founders holding the majority of the preferred equity, Beneficient expects approximately $126 million of temporary equity to be reclassified to permanent equity on its balance sheet as of September 30, 2024.

The stock traded up over 40% in the pre-market in reaction to the news.

The first target for bulls is the pre-market high at $1.79.

Beyond that, there is a gap to fill at $2.05, then $2.40 and $2.80 come into play. 

Below $1.79, targets to the downside are $1.60, $1.52, $1.40, $1.25 and then a gap fill at $1.19.

Did Bullseye Add Another Fan?  

I mean… hard to argue with that!

Next Bullseye Drops Monday!

NCNC – Up over 100% in pre after announcing amendments to resolutions for upcoming extraordinary general meeting

Noco-noco Inc. (NCNC)  operates as an early-stage decarbonization solution provider in Asia.

In the pre-market, the company announced it would like to include a new proposal in addition to the original four proposals as set out in the Company’s notice of EGM dated 22 August 2024 at the upcoming Extraordinary General Meeting scheduled for October 7, 2024, at 9:00 A.M. (Singapore Time).

The proposed amendments involve adjustments to Resolution Proposals 1 and 2, as detailed in the Proxy Statements distributed to shareholders. The Board has revised the language of these resolutions to specify the exact share consolidation ratio.

The stock traded up over 100% in the pre-market in reaction to the news.

The first target for bulls is the pre-market high at $0.3042.

Beyond that, $0.3748, $0.43 and $0.50 come into play.

Below $0.3042, targets to the downside are $0.26, $0.22, $0.20, $0.16 and then a gap fill at $0.1326.

MARKET NEWS 📰

P.S. Make sure you text “RAGE” to (888) 404-5747 to get all of our latest HOT STOCK ideas!

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