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Weed, dividends and FDA approvals on traders minds this morning

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Let's dig in!  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌
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Good day, 360 –

Here are our top investing ideas today – these setups look primed! Be the best prepared trader on the Street!

 

SQL - Up over 70% in pre-market after announcing cash and stock dividend record date

CGC - Weed stocks on watch after big week up, CGC up 50% on positive developments in Washington

RDHL - Up over 20% after receiving FDA approval

 
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SQL - Up over 70% in pre-market after announcing cash and stock dividend record date 

SeqLL Inc. (SQL) operates as a life sciences instrumentation and research services company worldwide. It focuses on development of scientific assets and novel intellectual property across multiple omics fields.

In the after-hours Friday, the company announced that September 26 would be the cash and stock dividend record date for the company, pursuant to the terms of the Agreement and Plan of Reorganization dated as of May 29, 2023.

Buyers came for the stock this morning in pre-market and SQL exploded over 70% higher.

The $24.50-$25 has acted as resistance in the pre-market and that will be an important level to watch.

Above it, the first major target is the pre-market high at $27.44. Beyond that, $30, $35 and $40 come into play.

Below $24.50, there is potential support at $23, $21.50, $18 and a gap fill at $13.24.

 

CGC - Weed stocks on watch after big week up, CGC up 50%, positive developments in Washington 

Canopy Growth Corporation (CGC) together with its subsidiaries, engages in the production, distribution and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States and Germany.

Last week, marijuana stocks saw some decent buying with positive developments in Washington, D.C., with a push for the SAFE Banking Act, and pressure on the DEA to reclassify marijuana to Schedule III.

CGC traded over 50% higher last week on record volume, and that momentum could be set to continue this week.

Note: Late this morning CGC announced a $50 million private placement at $1.09 per share, sending the stock to the $1.20 area. Other weed stocks to watch are TLRY and CRON.

The $1.28 area acted as support on Friday and that will be an important level to watch.

Above it, targets to the upside are $1.46, $1.57, $1.69 and then last week's high of $1.92. Beyond that, $2, $2.50 and $3 come into play.

Below $1.28, there is potential support at $1.24, $1.11, $1.04 and then $1.

 

RDHL - Up over 20% after receiving FDA approval

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on gastrointestinal and infectious diseases.

This morning, the company announced that it had received FDA sNDA Approval for Talicia®,  changing dosing to a simplified three times daily (TID) regimen, which may support increased patient adherence and treatment outcomes.

Talicia is the leading branded first-line therapy prescribed by U.S. gastroenterologists[ for eradication of H. pylori - a bacterial infection that affects approximately 35% of the U.S. adult population.

RDHL traded up over 20% in pre-market on the news.

The $1 level will be psychologically important for RDHL.

Above it, targets to the upside are $1.05, $1.10 and then the pre-market high at $1.15. Beyond that, $1.30, $1.50 and $2 come into play.

Below $1, there is potential support at $0.95 and then a gap fill at $0.85.

 

Economic Calendar

 

 

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