Even during a time of relatively high uncertainty for the markets at large, and on a short trading week, which are often more subdued than a typical week, we still managed to suss out a wide range of interesting plays in yesterday’s premarket report. Therefore, the bulk of today’s offering will be comprised of performance updates.
ViaDerma, Inc. VDRM
VDRM turned out to be the crown jewel of yesterday’s report, undergoing a massive intraday run that offered up chances at huge single session gains. We initially tagged the stock before adjourning for the holiday weekend on Friday morning. and it responded with a pop from .0048 to .0087 (+81%).
We kept it in yesterday’s report, and that’s when it really kicked into high gear, trading in a range from .00845 to an incredible new high of .0242. That worked out to a single-session romp of 186% and extended our observed gains over a two-session swing from Friday to 404%
Congrats to any of our readers who were able to hitch a ride on this wild breakout!
mCig, Inc. MCIG
As we reminded readers yesterday, MCIG was among those stocks we mentioned in our first report of 2017, subsequent to which, we would observe a low of .1599. We then saw two weeks of a notable uptrend which brought us to yesterday’s session.
Despite already having attained a new all-time high on Friday, MCIG kept the train rolling with a solid intraday performance leading to another new high. The stock traded in a range from .388 on up to .505, a 30% push which occurred on roughly 5x the monthly average volume.
The bullish move extended our overall observed range on MCIG in just over two weeks to a whopping 216% Any further moves from here would just be icing on the cake, but we’ll want to leave MCIG on our radar screens because a dip-and-rip pattern could be forthcoming before the week is through.
Retractable Technologies, Inc. RVP
The posting of a Form-4 filing last week, along with its positioning on the chart is what led us to focus upon RVP as a “prime bottom-play” in yesterday’s premarket report.
We were correct in doing so, timing the bottom precisely as RVP went on to rebound, trading in a range from .94 to 1.16. While that works out to a modest increase of just 23%, RVP did close just slightly below that high of day, and this morning has reached as high as 1.18. We’ll be very interest to continue tracking its activity, looking for the recording of higher highs and higher lows en route to a sustained uptrend.
PureSnax International, Inc. PSNX
Also appearing in yesterday’s newsletter was PSNX, a subpenny play which also enjoyed a sizable PPS increase on heavy volume.
The stock traded in a range from .00239 to .0035, an intraday gain of 46%, with more than 11x the monthly average volume of shares changing hands. The price tapered slightly into a close at .0028, but provided the stock maintains support above yesterday’s swing low, we’ll remain interested in PSNX.
Delcath Systems, Inc. DCTH
We also want to quickly point out what may very well be another prime bottom-play setup for DCTH. We’ve annotated the chart snapshot below to illustrate why we’ll be tracking this one as well as we head through midweek.
MJTK, MYHI, CVSI, LEXG, OMHE, REXX,