The market is trading mixed Monday, but I see some productive action in individual stocks I've recently discussed. I'm looking for some trades as these names bounce around.
Aurinia Pharmaceuticals (AUPH)
I discussed my short-term buy of AUPH on March 11. This morning news was released. There was a favorable assessment regarding the cost-effectiveness and value of Aurinia's Lupkynis by the Institute for Clinical and Economic Review in a revised Evidence Report issued on March 12. The report finds that Lupkynis represents an important new treatment option for patients living with lupus nephritis and at the estimated net price, determined the therapy to be priced in alignment with ICER's recommended health-benefit price benchmark ranges.
This is important news and adds to my long-term conviction that the market will eventually recognize the tremendous value here. I will continue to be a buyer on weakness.
Ammo, Inc. (POWW)
I highlighted POWW on Feb. 22. It continues to be one of my short-term favorites.
The stock has been under pressure after making a secondary offering priced at $5, but this is a necessary condition to complete the acquisition of GunBroker.com. The company is working hard to close this deal by the end of the month.
The Chairman and CEO said this about the potential acquisition on Feb. 11: "This Transaction is accretive to our shareholders and will be another vertical integration milestone for the Company which diversifies our revenue base with high profit-margin business offered through a premier brand deploying best-in-class secure transactional technology."
I expect the stock to react favorably if and when the deal is finalized. The fact that Ammo did the necessary secondary for the deal raises my confidence levels.
Enthusiast Gaming Holdings (ENGMF)
Enthusiast Gaming is an OTC name based in Canada that I've mentioned a few times. The company's digital media platform includes 100+ gaming-related websites and 900 YouTube channels. It also operates Luminosity Gaming, an eSports franchise; owns and operates Enthusiast Gaming Live Expo, a gaming expo; and hosts other gaming events.
The company is scheduled to announce earnings next Monday. The attractive potential catalyst here is that the company has applied for listing on the Nasdaq exchange and will meet price and balance sheet requirements at any time. I'm looking for the stock to see a strong favorable reaction to this potential news.
There are quite a few other exciting situations in the cannabis and gaming sectors that I will be tracking, but these three names offer attractive potential.