AeroClean Technologies [AERC] - Last Close: $0.88
AeroClean Technologies is moving higher after a merger announcement.
After Monday's closing bell, the air purification announced it had agreed to combine with Molekule Inc in an all-stock merger deal.
Upon closing, AERC stockholder will own 50.5% of the combined business, and Molekule shareholders will own the remaining 49.5%.
According to the companies, the combined company is expected to generate about $45 million in revenues in full-year 2022 on a pro forma basis.
The deal is expected to close early in the first half of 2023.
AERC is one of this morning's top premarket performers, with a 29.9% gain.
My Take: AeroClean has greatly improved its chances of surviving the coming economic downturn by combining with Molekule, so this looks like a good deal on the surface. However, there's likely to be challenging times ahead for the company.
Alset EHome Intl. Inc [AEI] - Last Close: $0.2322
Alset EHome is moving higher after a big announcement on Monday.
After yesterday's closing bell, Alset Ehome announced sweeping changes to the company and its management structure.
Effective today, Alset Ehome will change its name to Alset Inc as part of a rebranding effort.
As part of the move, Alset will also move its incorporation from Delaware to Texas, although the stock will continue to trade on the Nasdaq under the same ticker.
According to a recent press release, the company also plans on expanding its board to include positions for three new directors.
AEI is up 18.6% on active trading volume.
My Take: I'm not sure if this news fully explains the rally, but it partially explains why the stock is getting attention. I would be careful here.
