Nasdaq Stock Gainers: RELI, IMTE, SYPR
3:34 pm Thursday, December 30th, 2021
Reliance Global Group (NASDAQ:RELI) stock, a historically volatile stock, surges 17% on no apparent news. Shares in the wholesale and retail insurance agency company dropped 21% over two sessions last week when it issued preferred stock, common stock, and warrants to help fund its acquisition of Medigap. In the past week, the stock is up 45%, not counting Thursday’s gain. While the stock is heavily shorted, and is “very squeezable” at a 100.00/100.00 scoring on the S3 Squeeze Score metric, a short squeeze would have minimal impact on its price when compared with the amount of long buying and selling in the name, said Ihor Dusaniwsky, S3 Partners’ managing director of Predictive Analytics.
Integrated Media Technology (NASDAQ:IMTE) is soaring following the announcement to launch its Non Fungible Token (NFT) trading platform. The company signed an agreement to take over the rights and obligation on a Cooperation Agreement on developing a Blockchain business focusing on digital asset market platform mainly focusing on NFT trading market. IMTE will pay a deferred payment based on future earnings of Ace Corporation and a bonus payment if Ace is listed on a recognized exchange in the next 5 years.
Sypris Electronics, Sypris Solutions’ (NASDAQ:SYPR) subsidiary, recently received a follow-on award from a U.S. DOD prime contractor to manufacture and test embedded circuit card assemblies that will perform certain cryptographic functions for the Army Key Management System (AKMS). The AKMS is a fielded system that consists of three subsystems: local communications security management software, automated communications engineering software and the simple key load device.
