| Lucid Group [LCID] - Last Close: $12.87 Buyout rumors are lifting shares of Lucid Group.
The EV stock started rallying on Friday after reports indicated the Saudi Public Investment Fund (SPIF) was considering taking the company private.
The SPIF already owns a 65% stake in Lucid, and rumor has it the fund could acquire the remainder of the company. LCID fell 82% in 2022, so it appears the Saudi fund sees an opportunity to consolidate its holdings in Lucid. LCID gained 43.0% on Friday after the rumors hit the market. Today, it's up 11.7% on active trading volume in the premarket trading session. My Take: LCID could see a nice bump if the Saudi's acquire the company. However, the news may be largely priced into the stock at this point, and LCID could see steep losses if the deal fails to materialize. G Medical Innovations [GMVD] - Last Close: $3.00 Shares of G Medical are soaring on a big announcement. Early this morning, the med tech company said it received a patent issue notice from the US Patent & Trademark Office for its monitoring products. According to the announcement, the patent is expected to be issued on Feb. 7th, 2023, and it covers the vital signs monitoring system the company is developing. Specifically, the patent covers remote vital monitoring systems "using multiple sensing mechanisms to be used on different body locations," according to G Med. G Medical currently has three more pending patent approvals in the U.S. GMVD skyrocketed to a 106.6% gain on the news. It's currently this morning's top-performing premarket stock. My Take: GMVD seems to have a lot riding on this patent approval. The stock has been locked in a narrow trading range for weeks, but this could be the catalyst it needs to pivot to a new up-trend. Flora Growth [FLGC] - Last Close: $0.2650 Flora Growth is riding high after releasing upbeat guidance. The cannabis company announced it expects to generate revenues ranging from $90 million to $105 million in its fiscal year 2023. If it can deliver, Flora's 2023 guidance would mark a year-over-year growth rate of more than 100%. CEO Luis Merchan said the revenue highlights the company's "continued momentum" despite a "challenging macroeconomic backdrop." FLGC is up 29.1% in the wake of the revenue guidance release. My Take: Guidance is just a guess, so there's no telling whether FLGC will deliver on these numbers. However, after today's rally, expectations for the stock will be high, and any disappointments could drive sharp declines. Genius Group [GNS] - Last Close: $3.95 A big announcement from Genius Group's board is sending shares soaring. The business education company announced early this morning that its board of directors has approved the spin-off of its subsidiary, Entrepreneur Resorts. Entrepreneur Resorts is listed publicly on the Seychelles MERJ Stock Exchange with a $37 million market cap, and Genius Group owns 97% of the company. According to the press release, the transaction will enhance shareholder value and, if approved, will pay all shareholders an equal percentage. The deal is pending shareholder approval and possible a court order. Genius says the sale will streamline operations and enhance operational focus. News of the asset sale sent GNS to a 22.5% gain in today's premarket. My Take: GNS has notched substantial gains over the past couple of weeks. If approved, this deal could put cash directly in shareholders pockets. This stock could be worth watching closely this week. GainersPowerbridge [PBTS] >> +32.6%Blue Star Foods [BSFC] >> +63.6%BigBear.ai Holdigns [BBAI] >> +30.9%DeclinersCN Energy Group [CNEY] >> (52.5%)Movano [MOVE] >> (31.2%)Health Sciences Acquisitions [OBIO] >> (22.3%) Franklin Resources, Inc. [BEN] ... AM
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