MIAMI, June 30, 2016 /PRNewswire/ --
TechStockInsider.com Briefing: Stocks traded higher on Thursday morning as Brexit angst at least from the US perspective seems to have subsided a bit. The market has rallied back this week following a tumble after Britain announced that it could be leaving the EU. The Dow Jones gained over 100 points at 17,807 and the NASDAQ climbed over 20 points to over 4,800 on Thursday. Beat down bank stocks also saw a rebound after the Federal Reserve gave clearance to raise dividends and buy back shares, late Wednesday. And with growing bullish sentiment in the market, we've identified four stocks that are commanding attention and climbing in price.
Yesterday MGT Capital Investments (NYSE: MGT) announced that it has hired the development team of E-Tagged. This includes Robert Rogers and Joshua Kowalchuk. The goal of this will be to commercialize the E-Tagged Mobile device tracking technology and under the terms of the agreement, MGT will assume control over the E-Tagged technology as well as the IP developed. This morning the company announced the details of its initial phase of a large-scale bitcoin mining operation that would position the company as a leader in Blockchain technologies.
Of course just as with previous announcements, this latest series has boosted the interest of the market. Shares traded highs on Thursday up 13.6% in early morning trading. Since consolidating from its first big run to $5.58, MGT has come up significantly from lows of $2.23 to highs today of $4.59 representing a rebound by as much as 105.8% continuing this latest bull rally.
Life Clips, Inc. (OTC: LCLP) has also been gaining the attention of the street this week. On Monday the company released a shareholder update, which highlighted several key developments for the company. Many of these can be considered several of the catalysts, which have ignited the rally that this stock has seen since May. Just as with MGT, LCLP saw a large increase in price, consolidated, and has since begun to rebound after this recent update. Shares have come back by as much as 17% this week following a run up from lows of $0.4991 to highs of $0.585. Even Wednesday saw the stock trade on increased momentum after hitting highs of $0.64.
"Everyone at Life Clips [(R)] Inc. (OTCQB: LCLP) has had a very busy & successful 60 days and our plans are for it to get bigger and better. For those that just started becoming familiar with (LCLP) here is some of our recent accomplishments," stated CEO Bob Gruder in the recent release. "Currently Mobeego [(R)] is in 14 different countries including the U.S.A and is in over 1000 retail stores worldwide and we anticipate many more on the way both abroad and within the U.S…With all the excitement surrounding Mobeego [(R)] it's important to remember that Life Clips [(R)] is not a "1 trick pony." The LifeClips 4k Action Camera has several key features that competitors do not come standard with."
After its dramatic fall in price yesterday, shares of Galena Biopharma Inc. (NASDAQ: GALE) have seen an aggressive rebound in price. Since hitting lows on Wednesday of $0.275 the price has rallied to highs of $0.49 during the lunch hour. The drop in price was related to the company's announcement that the phase 3 PRESENT study on its lead candidate, NeuVax would be abruptly discontinued. Though there has been no further guidance on Thursday, it would appear that many have seen this drop in price as a positive as shares continue to trade at an above average rate on Thursday. Prior to the discontinuation of the trial, NeuVax was being evaluated for the prevention of breast cancer recurrence following the standard-of-care treatment in the adjuvant setting.
Also gaining attention after braking news, Harvest Natural Resources, Inc. (NYSE: HNR) released news that the company has entered into a Share Purchase Agreement with CT Energy Holding SRL, a private investment firm to sell all of the Company's interest in Venezuela. For HNR, this could be a profitable venture because under the terms of the agreement, CT Energy or one of its affiliates will deliver to Harvest $80 million in cash, subject to certain adjustments, and a $12 million six-month 11% note payable by CT Energy or their affiliate.
The bullish sentiment in the market has sparked a flurry of buying today. Shares of HNR traded as high as $1.09 during the morning session. This marked a run up of as much as 127.9% from its previous close and as much as 67.7% from it's opening price of $0.6501.
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