BETS - Why is (NASDAQ:VTVT) up more than 100%?

2024-02-28 13:40:18 ET

February 28, 2024, Denver Col, 247marketnews.com Low float stocks continue to grant investors huge wins.

Shares of ( NASDAQ: VTVT ) were sent soaring this morning on the news of a $51 million-dollar private placement. The company is a biotech focused on the treatment of type 1 diabetes, and the placement was done at $11.81 a share. The money is expected to assist in funding upcoming phase 3 trials for the companies’ lead candidate drug. This private placement would increase the assumed value of the company, which prior to this only had 2.61 million shares outstanding. Currently the market cap is only 48 million as of this post with a share price of $18.20 as of this post.

Prior to this placement, the stock also has a float of less than 700,000 shares.

( NASDAQ:ADIL ) Adial Pharmaceuticals, Inc. share are also on the move this morning, as they are awarded a new patent regarding a new drug product ADO4 which targets the serotonin transponder gene, possibly to be used in opioid use disorder. The company specializes on developing treatment and prevention of addiction related disorders. The stock has rewarded traders with more than 156% gains now of this post and has traded record volume closing in on more than 102 million shares. The stock also has a float of less than 1 million shares at today’s price of $2.30

( NASDAQ:BETS ) following the days theme of less than 1 million shares in the float, has traded more than 50 million shares as of this post. The company is up more than 80% on today’s volume as we head into lunch. The stock is one to watch headed into the end of the day. As its trending up over VWAP.

( NASDAQ:SYTA ) Siyata Mobil, is one to watch. The company has continuously announced new orders like the recent 1,000-unit order for its UV350 All-in-one-vehicle communications devices from an international EMS provider. The company has struggled to gain momentum so far this year, however it could easily become one of the next low float listings to garner significant attention. The company did a reverse split back in December and has been trading in the $3-5 range since. Currently the stock also has less than 1 mill shares outstanding giving it a market cap of less than $2 million dollars at today’s price.

( NASDAQ:PHUN ) shares of this stock were rolled back 50-1 recently and the stock has been trading around $7.0 since. The software company raised capital before the reverse and has announced additional partnerships for its software products. The stock is estimated to have a float under 3 million shares, which means its ripe for a post reverse bounce. It certainly should be on everyone’s low float radar.

Read Siyata’snalyst report and more here , and SYTA disclosure here .

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