The company announced the completion of its direct offering, raising $6.66 million through the sale of 4.4 million shares at $1.50 per share. Also they issued unregistered warrants for an additional 4.4 million shares, exercisable in 6 months at $1.37 per share, with proceeds primarily supporting working capital.
There is remarkable volume increase as a result. Historically, each spike in volume has encountered resistance at EMA10 weekly. While the stock remains ultra-highly volatile, a price above $9 does not seem impossible at this stage.
There is remarkable volume increase as a result. Historically, each spike in volume has encountered resistance at EMA10 weekly. While the stock remains ultra-highly volatile, a price above $9 does not seem impossible at this stage.
Note
Earlier, I mistakenly referred to the weekly EMA50 instead of EMA10. Correcting this, the potential target is now the weekly EMA40, currently around $8.77.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.