| | Here are our biggest movers as usual. Poke your head into our LIVE trading room. Have a great July 5th! | And … Jason Bond is starting a brand smacking new $2000 Small Account Journey on Monday. We can just FEEL the excitement! Check out all our Independence Day specials here — Be the best prepared trader on the Street! | | FOCUS LISTπ | MICS - Up over 40% in the pre-market after completing acquisition of leading AI logistics company | M - Macy's up over 7% in pre after investors looking to buyout the company increased its offer by around $300 million | ACHR - Up over 8% in pre after closing up over 13% Friday after announcing $55 million Stellantis investment in the company earlier in the week | | π―Did you miss Jeff's Bullseye of the Week? | Then you missed this… |  | *Trading is hard, results not guaranteed and should not be expected to be replicated typically. |
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| | HOTLISTπ₯ | MICS - Up over 40% in the pre-market after completing acquisition of leading AI logistics company | The Singing Machine Company, Inc. (MICS) together with its subsidiaries, engages in the development, marketing, and sale of consumer karaoke audio equipment, accessories, and musical recordings in North America and internationally. | In the pre-market this morning, the company announced that it had successfully completed the acquisition of SemiCab Inc., a leading artificial intelligence technology company in the global logistics space. | SemiCab is a global leader in the AI-driven logistics space and developed by a pair of life-long former Google and GT Nexus technology innovators in the logistics industry. | SemiCab expanded its platform to the Indian market, driven by strong client demand from several global leaders in the consumer, non-durables space. | SemiCab's software has the potential to disrupt the global logistics industry through several powerful aspects of its solution including: | Improved Efficiency: SemiCab's software improves freight utilization rates from 65% to 90%. This is believed to be one of the highest utilization rate in the industry. | The transaction was structured as an asset purchase/sale. At closing, Singing Machine will issue to SemiCab 641,806 shares of its common stock, which represents approximately 10% of the Company's issued and outstanding common stock as of July 3, 2024 and the assumption of approximately $2.6 million in liabilities as of March 31, 2024. | MICS traded up over 40% in the pre-market in reaction to the acquisition. | | The $1.70-$1.75 area acted as resistance in the pre-market and will be an important level to watch. | Above it, targets to the upside are $1.80, $1.90, and then the pre-market high at $2.09. Beyond that, $2.20 and $2.50 come into play. | Below $1.70, targets to the downside are $1.60, $1.50, $1.40, $1.30 and then a gap fill at $1.15. | | | | | M - Macy's up over 7% in pre after investors looking to buyout the company increased its offer by around $300 million | Macy's, Inc. (M) is an omni-channel retail organization that operates stores, websites, and mobile applications in the United States. | The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands. | Late Wednesday, it was reported by the Wall Street Journal that Arkhouse Management and Brigade Capital Management have raised their bid to buy Macy's for about $6.9 billion, citing people familiar with the matter. That indicates an increased of its prior offer by around $300 million. | The new proposal is to acquire Macy's stock that Arkhouse and Brigade Capital do not already own for $24.80 each, up from $24 per share offered in March, the report added. Arkhouse, which has a 4.4% stake in Macy's, had earlier raised the offer price to $24 per share from $21. | Macy's traded as high as $19.50, up over 7% in the pre-market in reaction to the news. | | The first target for bulls is prior resistance and pre-market high at $19.50. | Above that, targets to the upside are $19.80, $20, $20.40, $20.80, $21.20, $21.60 and $22. | Below $19.50, targets to the downside are $19.20, $19, $18.60, $18.40, $18.20 and $17.80. | | ACHR - Up over 8% in pre after closing up over 13% Friday after announcing $55 million Stellantis investment in the company earlier in the week | Archer Aviation Inc. (ACHR) engages in designs, develops, and operates electric vertical takeoff and landing aircraft (Evtol) for use in urban air mobility. | Earlier this week, the company announced that Stellantis had invested an additional $55 million In Archer following its recent flight test milestone. | The investment from Stellantis under the companies' strategic funding agreement builds on the $39 million worth of open market purchases of Archer stock that Stellantis completed earlier this year, and the $110 million investment made by Stellantis in Archer during 2023 | In addition construction nears completion on Archer's high-volume manufacturing facility in Covington, GA, which is on track to be completed later this year. | Following the announcement shares of ACHR closed up over 13% on Wednesday and are up another 8% this morning. | | The first target for bulls is the pre-market high at $4.66. | Above that, targets to the upside are $4.80, $5, $5.20, $5.40 and $5.60. | Below $4.66, targets to the downside are $4.30, $4.20, $4, $3.80, $3.60 and then $3.40. | | MARKET NEWS π° | | P.S. 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