AMC Entertainment [AMC] - Last Close: $4.90
AMC Entertainment is at the top of our premarket lineup again today.
The movie theater meme stock continues to run hot in the wake of a recent court decision that halted the company's efforts to convert its preferred shares.
However, an additional catalyst cam through late Thursday afternoon, when a Form 4 filing revealed insider selling at the company.
According to the filing, Antara Capital dumped more than 11 million shares of AMC Preferred Shares [APE] on April 4th at an average price of $1.67 apiece.
It seems like bearish news, but that's not enough to stop one of America's favorite meme stocks. Shares of AMC are up 9.8% on the news.
My Take: Classic meme stock trading action here. Chasing gains in AMC is always a gamble, so be cautious if you decide to go after this one.
Finance of America Companies [FOA] - Last Close: $1.93
Something is cooking at Finance of America Companies...
The consumer lending stock is heating up after a Form 3 filing revealed president Kristen Sieffert has amassed a 258,521-share position in the company.
Sieffert also controls more than 1 million additional shares via derivative securities and other instruments.
Earlier in the week, FOA began rallying after a Form 4 filing revealed Blackstone had amassed a significant stake in the company.
FOA is up 16.8% this morning, after gaining more than 30.4% in Thursday's session.
My Take: When Blackstone is buying, it's worth a second look. I'm not sure what's going on at FOA, but it could be the prelude to a buyout deal or other major catalyst.
CNS Pharmaceuticals [CNSP] - Last Close: $0.7501
CNS Pharma is moving higher after a key regulatory decision.
The clinical-stage pharma firm said the Competent Authority from the central Ethics Committee in Italy approved its trial evaluating Berubicin for GBM.
The committee approved CNS's application for a potentially pivotal global trial. The trial is now expected to have more than 60 clinical sites across 5 countries.
"We are incredibly pleased to add Italy to our growing portfolio of European countries for this global study," CEO John Climaco said in a press release.
CNSP is one of today's top premarket gainers with a 53.5% rally.
My Take: Anything can happen at a drug trial, so CSP has a lot of uncertainty ahead of it. However, it could see big growth if it can get Berubicin through this pivotal trial successfully.
Vistagen [VTGN] - Last Close: $0.1364
A new patent award is lifting shares of Vistagen this morning.
Yesterday, the company announced the European Patent Office had approved its patent application for AV-101 an oral NMDAR glycine site antagonist.
The patent relates to the synthesis of AV-101 and certain chemical intermediaries.
Vistagen said the new E.U. patent compliments its previously-granted U.S. patent on the therapeutic compound, which lasts until 2039.
VTGN is up 19.5% on news of the patent approval.
My Take: This is a very low-float stock, and its chart isn't particularly attractive. This stock could see a lot of volatility today.
