MIAMI, July 18, 2016 /PRNewswire/ --
TechStockInsider.com Briefing: The last few weeks have been interesting ones to say the least. From the sociopolitical angst to the volatility that the stock market has seen, this summer has quickly become one to remember. Sell in May and go away has not played to the benefit of those who assume the markets slow down or show less promise during the hotter months of the year. This coming week may be no different either as expectations are buzzing on the flood of earnings results set to be reported. Furthermore, heading into this week, the Dow Jones Industrial Average and S&P 500 have both logged multiple all-time record highs and with indexes turning more bullish for the year second quarter earnings announcements could quickly add more fuel to the fire for summer bulls. This having been said, here are four stocks we will be watching closely on Monday:
IDdriven, Inc. (OTC: IDDR) (OTCQB: IDDR) has shown an impressive climb in stock price over the last few weeks. Following a climb to highs of $0.40 in June, the stock pulled back to as low as $0.179. Since hitting these lows, not only has the stock recovered by as much as 87% but the company’s latest announcements have shown to have a positive response in the market.
In response to the company’s most recent achievements with new channel partner PATECCO, Arend Verweij, IDdriven Chief Executive Officer, said, "IDdriven is building a solid foundation to support high volume, global sales to small, mid-size and large enterprises throughout Europe and the US. PATEECO is well known and highly respected for its expertise in all things IAM. We are delighted to partner with a world-class IAM expert that shares our commitment to excellence and unrivalled customer service."
Rennova Health (NASDAQ: RNVA) recently saw a drastic gap down in price late last week. The trigger to this may have been from the announcement of a multi-million dollar offering that came out at a price of $0.45 per unit. However, since making the announcement and since the stock hit lows of $0.27, shares of RNVA have recovered after positive volume on Friday saw the stock close at a price of $0.30.
Rennova Health, Inc. owns and operates five diagnostics laboratories across the U.S. that provide clinical testing services specializing in toxicology testing for pain management clinics, drug and alcohol rehabilitation facilities and neurotransmitter testing. Rennova's software is differentiated from that of its competitors by the breadth of its services, each of which is branded separately and is made available to physician groups in whole or in part.
Other companies like Life Clips, Inc. (OTC: LCLP) (OTCQB: LCLP) that have seen all time highs this summer could be finding new opportunities during consolidation periods in price. Evidenced earlier this summer, LCLP saw several periods of consolidation, sometimes to the lower $0.40 range and has managed to see reversals in price to highs in the low $0.70 range. On Friday the stock closed at $0.48 after trading over 181,000 shares.
Most recently the company announced that it has broken ground in the Australian market for its one-time use, electronics charger called Mobeego. According to the company Mobeego®'s anticipated revenue before the end of Q3 of this year is $1,000,000. This morning Life Clips announced that it will be hosting a conference call to discuss current and future plans for the company.
Marinus Pharmaceuticals, Inc. (NASDAQ: MRNS) is another stock that has been generating attention during the last few trading days. Similar to RNVA, the stock saw an aggressive drop off in price several weeks back when the company announced that it plans to discontinue its program in adult focal onset seizures and focus its efforts on advancing ganaxolone in status epilepticus and pediatric orphan indications. Since hitting lows of $1.23 in the days to follow the announcement, shares of MRNS have begun to climb in more recent weeks.
With the new focus for ganaxolone being pushed more toward status epliepticus and pediatric orphan indications, the recent spike in price and volume may be speculation based. The company has not announced any news since the end of June when it announced positive trends seen across multiple scales and the safety seen with ganaxolone in its Phase 2 trial for the treatment of anxiety and attention in children with Fragile X Syndrome (FXS). In fact, Friday the stock ended up hitting highs that it has not seen since dropping in mid June after seeing prices hit $2.23 during an active trading session.
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