Markets are staging a rally today after Japanese markets had a big reversal overnight following one of the worst days ever.

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FOCUS LIST🔎

LUMN – Up over 50% in the pre-market after announcing it has secured $5 billion in new business driven by major demand for connectivity fueled by AI

TENX – Up over 60% in pre after announcing oversubscribed $100 million private placement

LCID – Up over 12% in pre after reporting better than expected earnings, $1.5 billion commitment from Saudi

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HOTLIST🔥

LUMN – Up over 50% in pre after announcing it has secured $5 billion in new business driven by major demand for connectivity fueled by AI 

Lumen Technologies Inc. (LUMN) is a facilities-based technology and communications company that provides various integrated products and services to business and residential customers in the United States and internationally.

In the after-hours yesterday, the company announced it has secured $5 billion in new business driven by major demand for connectivity fueled by AI.

Large companies across industry sectors are seeking to secure fiber capacity quickly, as this resource becomes increasingly valuable and potentially limited, due to booming AI needs. In addition, Lumen is in active discussions with customers to secure another $7 billion in sales opportunities to meet the increased customer demand.

To address this tremendous demand, which includes the recent Microsoft announcement, Lumen will more than double its intercity network miles over the next five years, while also providing access to a significant amount of installed dark fiber. In addition, Lumen has secured an agreement with Corning to be its preferred partner for its next-generation fiber-dense cable, which will help accommodate the increased data processing that AI requires.

“The AI economy is changing business operations, and companies are recognizing they need powerful network infrastructure to manage the unprecedented data flows today and the demand in the future,” said Kate Johnson, president and CEO, Lumen Technologies.

The stock traded up over 50% in the pre-market in reaction to the news.

The first target for bulls is the pre-market high at $3.97 and then the after-hours high at $4.10. 

Beyond that, $4.20, $5 and $6 come into play.

Below $3.97, targets to the downside are $3.80, $3.60, $3.40, $3.20, $3, $2.80 and then a gap fill at $2.59.

TENX – Up over 60% in pre after announcing oversubscribed $100 million private placement

Tenax Therapeutics Inc. (TENX) develops and commercializes pharmaceutical products containing imatinib for the treatment of pulmonary arterial hypertension in the United States.

In the pre-market this morning the company announced that it has entered into a securities purchase agreement for an oversubscribed private placement financing that is expected to result in total gross proceeds of approximately $100 million to the Company, before deducting placement agent fees and other private placement expenses.

The private placement was led by new investor BVF Partners LP, with participation from other new investors, including Venrock Healthcare Capital Partners, Vivo Capital, Janus Henderson Investors, a large investment management firm, Vestal Point Capital, Velan Capital, ADAR1 Capital Management, LLC, Stonepine Capital Management, and Sphera Biotech.

The private placement will be for an aggregate of 1,450,661 shares of the Company’s common stock and pre-funded warrants to purchase an aggregate of 31,882,671 shares of common stock, along with accompanying warrants to purchase an aggregate of 16,666,666 shares of common stock (or, in lieu thereof, additional pre-funded warrants). 

The purchase price for each share of common stock and accompanying warrant is $3.00, with the accompanying warrant having an exercise price of $4.50 (provided, the purchase price for each pre-funded warrant and accompanying warrant is $2.99, with the pre-funded warrants having an exercise price of $0.01). The pre-funded warrants are exercisable at any time after their original issuance and will not expire.TENX stock traded up over 60% in the pre-market in reaction to the news.

The first target for bulls is the pre-market high at $4.86.

Above that, targets to the upside are $5, $5.30, $5.60, $5.80 and $6.

Below $4.86, targets to the downside are $4.60, $4.40, $4.26, $4.20, $3.90, $3.70, $3.50 and then a gap fill at $2.92.

LCID – Up over 12% in pre after reporting better than expected earnings, $1.5 billion commitment from Saudi

Lucid Group Inc. (LCID) is a technology company that designs, engineers, manufactures, and sells electric vehicles (EV), EV powertrains, and battery systems.

In the after-hours yesterday, the company reported Q2 2024 earnings.

Highlights include:

Produced 2,110 vehicles in Q2; on track for annual production of approximately 9,000 vehicles

Delivered 2,394 vehicles in Q2; up 70.5% compared to Q2 2023

Q2 revenue of $200.6 million

Ended the quarter with approximately $4.28 billion of total liquidity

Separately, announced a commitment of $1.5 billion today from an affiliate of the Public Investment Fund (PIF)

The stock traded up over 12% in the pre-market in reaction to the better than expected earnings.

The first target to the upside is the prior resistance at $3.40, $3.48 and then the after-hours high at $3.50. 

Beyond that, $3.60, $3.70, $3.80, $4 and $4.20 come into play.

Below $3.40, targets to the downside are $3.30, $3.20, $3.15, $3.10 and then $3 come into play with $2.80 below that. 

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Now, diving right into GameSquare might sound exciting. But remember, it’s like venturing into the wilderness—be aware that there’s exceptional risk involved in trading. This isn’t small potatoes we’re talking about; you could lose every dime you put in, so always carefully think about what you’re doing. That’s why they call this trading, after all. We’re shining a light on the good stuff about the company here, but it’s on you to do your homework, make your own calls, and determine a plan for your own trading, hopefully with the help of your professional 1nvestment advis0r.

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