Double Digit NASDAQ Stock Winners: SXTC, RCAT, GLG
10:53 am Monday, July 19th, 2021
Following are major stock gainers on Nasdaq in Friday’s trading session:
China SXT Pharmaceuticals, Inc. (NASDAQ:SXTC) was the active stock gainer on Friday and soared 41% to $2.12. This rally appears to be driven by investors active on social media coordinating a short squeeze. On social media, the investors cited the low float of the company stock as an opportunity for aggressive day trading.
China SXT Pharmaceuticals was founded in 2005 and the company launched in Taizhou City, Jiangsu Province, China. And the company is known as an innovative pharmaceutical company that is focused on the research, development, manufacture, marketing and sales of traditional Chinese medicine pieces.
Red Cat Holdings, Inc. (NASDAQ:RCAT) was another notable winner as the stock went up 41% to end the session at $7.10. The company announced the pricing of its underwritten public offering of 13,333,334 shares of its common stock at a public offering price of $4.50 per share, for gross proceeds of approximately $60,000,000, before deducting underwriting discounts, commissions and offering expenses. In addition, the Company has granted the underwriters a 45 day option to purchase up to an additional 2,000,000 shares of common stock to cover over-allotments at the offering price, less the underwriting discount.
TD Holdings, Inc. (NASDAQ:GLG) surged 24.40% to $1.01. The company announced that it has entered into a non-binding letter of intent (the “LOI”) with Guangdong Jinbochuang Special Purpose Vehicle Co., Ltd. and (“Jinbochuang”) and Hunan Jinmeike New Material Co., Ltd. (“Jinmeike”) and their shareholders to acquire both Jinbochuang and Jinmeike to step into the unmanned logistics and new energy vehicle industry.
Pursuant to the LOI, the Company agreed to acquire 100% of the equity interests of Jinbochuang and Jinmeike in exchange for certain amount of shares of common stock of the Company be determined based on the Company’s due diligence and the parties negotiation.
