Trevena, Inc. TRVN
Of all of the plays that we were monitoring via our extended watchlist in yesterday’s premarket report, the most potent intraday performance came from TRVN. The stock had made a nice move in the previous session, had pulled back, and looked primed for another nice move based on the premarket activity we observed.
As the overall markets saw a trend reversal, TRVN made a solid, steady, run from a daily low of 9.21 up to 11.47; that registered as a 25% increase on more than 12X the 3-month average volume.
The stock is increasing further in the premarket today (traded as high as 11.83 thus far), so we might want to look out for the possibility of a slight dip followed by a continuation of yesterday’s momentum.
Ascent Solar Technologies, Inc. ASTI
ASTI is a stock we’re very familiar with, as a quick tag search of our archives reveals, we’ve taken advantage of this stock multiple times over the years. A couple of weeks ago, we tagged the stock as a bottom-watch play after noticing it was being beaten back to new 52-week lows.
We stated that ASTI was a prime candidate for a bounceplay, and an extreme item of interest “because when a rebound does occur, it could be very significant.” and we couldn’t have been more spot-on in that assumption.
It’s ultimate low of .10 came just three sessions hence, and the impressive multi-day recovery pushed ASTI as high as .3597 yesterday. That represents an overall swing of 260%
Options Reminder:
Last Thursday just as the markets were becoming highly distressed, we formulated set of longer-term options plays to watch once a market rebound began to occur.
Yesterday, another reversal came to pass, so we just wanted to issue a brief reminder of the potential targets we listed, and are still tracking heavily: 09/18-10/02 Calls in the FB, GPRO, GMCR, AAPL, NFLX, and TSLA chains.
Extended Watchlist:
AXPW & VRA (Nice Moves Yesterday, Still on Watch),
MEI, GBSN, GEVO