Rennova Health Inc. (NASDAQ:RNVA) Revenue Stream Strengthened

Rennova Health Inc. (NASDAQ:RNVA)

Rennova Health Inc. (NASDAQ:RNVA) shares fell 20.2% after the company announced its Big South Medical Center had been granted a three-year certificate of accreditation by the Center for Medicare and Medicaid Services. According to the Chief Executive officer, Seamus Lagan, the certification paves way for the company to start receiving payments for services rendered.

Rennova Health Inc. (NASDAQ:RNVA)

CMS Accreditation

The certification and opening of the Big South Medical Center signify a new direction to Rennova Health Inc. (NASDAQ:RNVA) and is expected to lead to a reliable revenue stream. The hospital had unaudited annual revenues of $12 million and EBITDA OF $1.3 million in 2015.

Rennova has been a shadow of itself in the stock market. The stock is down by more than 90% for the year after dropping from $44 a share to current $0.98 trading level.

Rennova Health Inc. (NASDAQ:RNVA) is an integrated provider of diagnostic and supportive software solutions through its medical centers. Approximately 60% of the services that the company provides are payable through federal payers.

Some of the services offered by Big South Fork Medical Center include 24/7 emergency services as well as radiology services and X-ray CT scan and ultrasound. Rennova remains optimistic of being able to rebuild Big South Medical Center revenues to levels achieved in 2015, based on the hospital first month of operations.

“Receiving our Medicare number is the final hurdle that will enable us to collect payment for services provided. We look forward to the continued success and growth of this hospital and remain confident that this is an excellent business model to create value for our shareholders,” said CEO Seamus Lagan.

Cigna Suit Win

Separately, Rennova Health Inc. (NASDAQ:RNVA) has won an appeal in an Eleventh Circuit Court of Appeals in a long-running CIGNA Lawsuit. The company’s subsidiaries Bio health Medical Laboratory and PB Laboratories had filed a lawsuit against CIGNA in 2015 accusing the company of failing to pay for laboratories services offered.

A U.S District Court dismissed the laboratory’s claims for lack of standing. The subsidiaries appealed the ruling to the Eleventh Circuit Court of Appeals which on its part found the companies have the standing to raise claims.

“This is an exciting development for us and allows us to push forward in our pursuit of the total amount of our original claims,” said Mr. Lagan.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $RNVA and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Akari Therapeutics PLC (ADR) (NASDAQ:AKTX) Slumps 29%

Akari Therapeutics PLC (ADR) (NASDAQ:AKTX)

Shares of Akari Therapeutics PLC (ADR) (NASDAQ:AKTX) fell 29.7% after the biopharmaceutical company announced the pricing of an underwritten public offering of 3.5 million American Depository Shares at $5 per ADS. The company has also granted underwriters a 30-day option for the purchase of additional 522,000 ADS shares.

Akari Therapeutics PLC (ADR) (NASDAQ:AKTX)

The company expects gross proceeds of $17.4 million from the offering – assuming underwriters don’t exercise the option to purchase additional shares. Net proceeds from the offering are to be used to fund ongoing clinical development efforts as well as for working capital and other general corporate purposes. The offering should close on or about October 20, 2017, subject to satisfaction of customary closing conditions.

Akari Investors’ Reaction

News of the public offering has not gone well with investors given that, in addition to plunging the company into more debt, the offering will lead to further dilution of the stock. Wednesday’s sell-off accompanied a downtrend that has gripped the stock in recent weeks.

Akari Therapeutics PLC (ADR) (NASDAQ:AKTX) has shed more than 40% in market value over the past month as sellers continue to push the stock lower. The stock is down by more than 30% for the year and on the brink of dropping to multi-year lows.

Amidst the recent sell-off, William Blair upgraded shares of Akari Therapeutics PLC (ADR) (NASDAQ:AKTX) from ‘Market Perform’ to ‘Outperform’ in a research note to investors. The upgrade came at a time when the stock was trading at the $8.80 per share. The firm, at the time, said the shares of the biopharmaceutical Company were undervalued given the value proposition on the development of candidate drug Coversin.

Coversin Development

Separately, the developer of inhibitors for acute and chronic inflammation has enrolled three additional patients in the ongoing Phase II COBALT clinical trial of Coversin, in patients with paroxysmal nocturnal Hemoglobinuria (PNH). The addition brings to eight the total number of patients under trial. Four of the patients have already moved to the long-term safety study, Converse.

Akari Therapeutics is to issue an update on al PNH patients at the American Society of Hematology Annual Meeting to be held next month. The company has also announced plans to advance Coversin towards Phase III trials in naïve PNH patients. William Blair puts the success probability of the PNH program at 55% with an estimated peak U.S. sales target of $500 million.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $AKTX and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

My Size Inc. (NASDAQ:MYSZ) Signs ‘Emme’ And Susan Moses

My Size Inc. (NASDAQ:MYSZ)

My Size Inc. (NASDAQ:MYSZ)

Shares of My Size Inc. (NASDAQ:MYSZ) gained 6.22% after the developer of proprietary measurement technologies confirmed the signing of Supermodel Emme and celebrity stylist Susan Moses as brand ambassadors. The two will represent the company as it moves to pursue growth opportunities in the multi-billion, plus-size apparel market.

My Size has set it eyes on the plus-sized women market given that apparel sales in the segment rose 6% last year to highs of $21.4 billion. Emme should help strengthen the company’s prospects in the sector given that in addition to being a TV personality, she is the world’s first curvy supermodel.

Susan Moses, on the other hand, is a renowned retail ambassador and blogger whose signature look has been showcased in multiple red carpets

“We are thrilled to welcome Emme and Susan to the My Size family. We believe that the vast experience, high acclaimed expertise, respected industry insight and overall impeccable sense of style of both ladies is going to lead to amazing opportunities for My Size in the plus size market,” said Ronen Luzon, CEO of My Size, and Inc.

My Size Inc. Patent Award

Separately, My Size Inc. (NASDAQ:MYSZ) has been awarded its first patent, dubbed Measurement of a Body Part smartphone application. Designed for the online apparel market, the application will enable shoppers to choose the correct size garment on a retailer’s website, using measurements taken by their smartphones.

The issuance of the patent should strengthen My Size Inc. (NASDAQ:MYSZ) position as a measurement technology leader. It should also bolster the company’s position in the growing e-commerce apparel market.

“We have many other patents pending worldwide for our Measurement of a Body Part smartphone application as well as other measurement applications in our long pipeline of products which we have developed for the e-commerce and m-commerce apparel,” said Chief Product Officer, Billy Pardo.

My Size Inc. (NASDAQ:MYSZ) proprietary Size IT smart measuring tape is currently available and provides accurate measurement capabilities on any iOS mobile application. The company is also working to make the application available on Android devices.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $MYSZ and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

Celsion Corporation (NASDAQ:CLSN) Struggles To Close Above $6

Celsion Corporation (NASDAQ:CLSN)

Celsion Corporation (NASDAQ:CLSN) shares fell 1.69% after initially rising by 8% in pre-market trading, after the company announced the publication of a manuscript for its Phase III HEAT study, assessing ThermoDox in hepatocellular carcinoma (HCC). The article details findings from a study of 701 patients as well as results from computer simulation studies.

ThermoDox Development

ThermoDox is Celsion’s most advanced tumor-targeting drug delivery technology and employs a novel heat-sensitive liposome to address difficult-to-treat cancers. The program is currently in Phase III development for the treatment of primary liver cancer and in Phase II development for the treatment of recurrent chest wall breast cancer.

“We believe strongly that ThermoDox® may be an important new approach for the treatment of HCC. We are now fully committed to the OPTIMA Study and to learning more about how this combination therapy of standardized RFA plus ThermoDox® may significantly prolong the survival of, if not cure, patients,” said CEO Michael H. Trading.

Celsion Corporation (NASDAQ:CLSN)’s upside run, that began early in the month, is losing its momentum. The stock has struggled to close above the $6 a share on two attempts. Selling pressure appears to be slowly building. The stock has underperformed the industry for the better part of the year and the stock continues to trade at levels last seen in January.

The stock is currently rated as a ‘strong buy’ by two firms and as a ‘hold’ by one firm according to data compiled by Zack Investment Research.

Celsion’s New Financing

Celsion Corporation (NASDAQ:CLSN)

Separately, Celsion Corporation (NASDAQ:CLSN) has entered into Exercise agreements with holders of existing warrants issued in July. Pursuant to the agreement, the company has agreed to issue 2.4 million Series AAA Warrants at an exercise price of $2.07 a share and series BBB Warrants are an exercise price of $4.75 a share.

Celsion Corporation (NASDAQ:CLSN) expects gross proceeds of $15.6 million from the exercise of the Series AAA and Series BBB Warrants. Net proceeds are to be used for general corporate purposes. According to CEO, Michael Trading, the exercise agreements eliminate financial challenges that the company has faced in recent years. The executive also expects the new financing to help accelerate the development of drug candidates in the company’s pipeline.

“This significant capital infusion from the exercise of existing outstanding warrants at their original exercise prices is an example of our strategic approach to financing and is expected to extend the Company’s operating horizon through full patient enrollment of our Phase III OPTIMA Study,” said Mr.  Tardugno.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CLSN and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Orexigen Therapeutics, Inc. (NASDAQ:OREX) Shares Drop after Court Win

Orexigen Therapeutics, Inc. (NASDAQ:OREX)

Curiously, Orexigen Therapeutics, Inc. (NASDAQ:OREX) traded lower after a United States District Court issued a favorable ruling in a patent litigation case involving three patents for its obesity drug Contrave. Shares of the company fell 3.43% in Friday’s trading session to end the week at $1.97 a share.

Orexigen Therapeutics, Inc. (NASDAQ:OREX)

Orexigen Sell-Off

Friday’s sell-off strengthened a bearish tone that has seen the stock drop from $5.20 a share in February to current trading levels. While the stock is down by more than 60%, it is still above January’s trading levels.

Investor confidence has taken a hit following the termination of a collaboration agreement with Takeda. The agreement was for the commercialization of Orexigen’s obesity drug Contrave. The termination initially resulted in an increase in sales leading to net revenue increase, per unit, of 37%.

However, the increase was later offset by costs for commercialization of the drug. Orexigen Therapeutics, Inc. (NASDAQ:OREX) has sought to change the situation by taking several steps to drive Contrave sales, in a bid to offset the costs. The company has already initiated speaker programs, as well as patient starter kits and promotional materials.

Orexigen Therapeutics, Inc. (NASDAQ:OREX) faces an uphill task to boost its prospects in the already crowded obesity market. A variety of options exist from the likes of Vivus Inc., Novo Nordis,k and Arena Pharmaceuticals..

Contrave Patent Protection

The company is to provide a business update at the 2017 BIO investor forum on October 17, 2017. The Chief Executive Officer has already pointed out that the company is on a path to profitability by 2019. The executive made the remarks after the District Court extended the exclusivity of the company’s lead obesity drug through 2030.

Orexigen Therapeutics, Inc. (NASDAQ:OREX) has successfully defended its lead product, Contrave from Actavis which was planning to launch a generic version prior to the expiration of U.S Patents.

“Orexigen’s intent was to vigorously defend our intellectual property and we are very pleased with the Court’s decision upholding the validity of all of the patents involved in the case,” said Michael Narachi, President, and CEO of Orexigen. “The Court’s positive decision allows Orexigen to continue to fulfill its mission to provide innovative medicine to treat patients who are overweight or struggling with obesity.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $OREX Symbol and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Infinity Pharmaceuticals Inc. (NASDAQ:INFI) Explodes on Outperform Rating

Infinity Pharmaceuticals Inc. (NASDAQ:INFI)

Shares of Infinity Pharmaceuticals Inc. (NASDAQ:INFI) more than doubled in value after the biopharmaceutical company said it will make a key presentation at the 2017 Society for Immunotherapy of Cancer (SITC) Annual Meeting. The stock was also up by 123% after analysts at Wells Fargo upgraded the stock to an ‘outperform’.

Infinity Pharmaceuticals Inc. (NASDAQ:INFI)

Wells Fargo Upgrade

Thursday’s rally brought an end to a sell-off that has plagued the stock since April. The stock of Infinity Pharmaceuticals Inc. (NASDAQ:INFI) came under pressure after rising to $3.50 a share, resulting in a drop below $1 a share. Infinity stock is now up by more than 130% for the year, after closing above $3.50.

Analysts at Wells Fargo believe the stock has some room to run on the upside as infinity Pharmaceuticals moves to make a presentation on IPI-549, an orally administered immuno-oncology development candidate.

IPI-549 has the potential to treat a broad range of solid tumors. Wells Fargo analyst Jim Birchenough believes the cancer therapy has a high likelihood of proof of concept data.

” … With likely validation of tumor macrophage targeting in immuno-oncology and a unique mechanism of action, we see upside potential not reflected at current stock price,” Birchenough said.

The analyst has since increased his share price target on the stock from $1 to $5 a share.

Infinity Pharmaceuticals Inc. (NASDAQ:INFI) is to make a presentation on a Phase 1/1b clinical study which is evaluating the safety and activity of IPI-549. The company is investigating the candidate drug as a monotherapy and in combination with Opdivo for patients struggling with advanced tumors. Reports indicate that IPI-549 could be the only P13K-gamma inhibitor in clinical development.

Wider Than Expected Net Loss

Development of IPI-549 and the Wells Fargo update has helped renew investor interest in infinity Pharmaceutical after a wider than expected second-quarter net loss triggered a sell-off. The biopharmaceutical company reported a net loss of (-$0.34) cents a share wider than consensus estimates of a net loss of (-$0.22) cents a share.

Since Infinity Pharmaceuticals Inc. (NASDAQ:INFI) does not have any approved product in the market, it likely needs to get everything right on the development of IPI-549 if it is to continue trading at higher levels. The company did not generate any revenues in the recent quarter compared to collaboration revenues of $9.5 million reported last year – mostly from royalty, license and milestone payments.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $INFI and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

xG Technology Inc. (NASDAQ:XGTI) Receives Eye-Popping Order

xG Technology Inc. (NASDAQ:XGTI)

xG Technology Inc. (NASDAQ:XGTI) shares fell 3.80% after the leading provider of wireless video solutions for law enforcement and defense markets announced a new order for its Vislink business. The new order, worth $535,000, from NEP UK, is for the company’s latest Vislink HEVC 4K capable HCAM Wireless Camera systems.

$2 Million Pre-orders

The Focal Point Camera Control systems are to be used at the 2018 Winter Olympics in South Korea. The HCAM system represents the next generation of 4K UHD wireless transmitters which is capable of supporting premium live broadcast events.

“This commitment from NEP further solidifies our relationship, and continues to highlight the market confidence in the HCAM with pre-orders now over $2 million,” said James Walton, president of IMT, Ltd.

xG Technology Inc. (NASDAQ:XGTI) market consolidation continued in Wednesday’s trading session. While the stock is up by more than 10% for the year, it continues to trade in a range after dropping from $2.50 – recorded in July.

xG Technology Inc. (NASDAQ:XGTI)

MicroLite 2 HD Launch

Separately, xG Technology Inc. (NASDAQ:XGTI), through its business unit IMT Vislink, has introduced a compelling solution for capturing real-time, high quality on camera video for electronic newsgathering. MicroLite 2 HD is the new ultra-compact COFDM wireless video transmitter designed to provide enhanced performance and video quality at a competitive price point.

The video transmission system can deliver up to 250Mw of power and provides low range, reliable HD transmission. A key advantage of MicroLite compared to other solutions in the market is its ability to operate at low latency levels and so is well suited for live sports broadcasts and video assists applications.

“With the MicroLite 2, broadcast professionals are able to transmit high definition video within a small form factor, while utilizing its lightweight design for Steadicam operations, event coverage, confidence monitoring, web content programming, rental houses and drone use,” said John Payne IV president of IMT USA.

In addition, xG Technology Inc. (NASDAQ:XGTI) has confirmed the appointment of Eric Haney as the new Regional Sales Manager focusing on unmanned systems across all markets throughout North America. According to Mr. Payne, his expertise will be invaluable in identifying business opportunities with the government, military as well as on commercial applications where the systems can be used to deliver considerable advantages.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $XGIT Symbol and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) To Unveil New Features

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)

Shares of Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) gained 5.93% after the exoskeleton technology company said it will showcase new features for its EksoGT wearable exoskeleton at an event in Denver. The company plans to showcase how its SmartAssist and EksoPulse can be used to provide personalized patient care at the 2017 American Academy of Physical Medicine and Rehabilitation (AAPM&R) Annual Assembly.

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)

EKSO Stock Catalyst

During the event slated for October 12-15, 2017, the exoskeleton company will demonstrate how the FDA cleared exoskeleton can be used for stroke and spinal cord rehabilitation. Clinicians will be given an opportunity to explore the technology first hand and learn more about its clinical benefits.

The event presents an opportunity for Ekso Bionics to market its exoskeleton in a bid to strengthen investors’ confidence for its long-term prospects. The company needs a catalyst to bounce back from current trading levels after dropping to multi-year lows.

Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) is down by more than 60% for the year, and is underperforming the overall industry. The stock is currently trading in a strong downtrend and at risk of dropping below $1, the minimum requirement needed for continued listing on the NASDAQ.

According to data compiled Zack Investment Research, Ekso stock is currently rated as a ‘strong buy’ by three investment firms, ‘hold’ by eight and ‘sell’ by 2.

The EksoGT exoskeleton could be the catalyst to bolster investor confidence. The device is designed to enable individuals to stand up and walk with a full weight bearing reciprocal gait. The SmartAssist technology, on the other hand, is a next-generation gait therapy software that enables personalized therapy.

Ekso Bionics’ Capital Raise

Separately, Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) has announced the results of a previously announced rights offerings. The company says it generated gross proceeds of $34 million from the offering including an investment of $20.5 million from Puissance Capital Management.

“The capital raised through this financing will provide us with additional resources to further advance the adoption and development of our innovative exoskeleton solutions in both the rehabilitation and industrial verticals. We are pleased to have Puissance Capital as a new investor as they share our vision for innovating products,” said CEO, Thomas Looby.

In addition, Ekso Bionics has confirmed the appointment of Ted Wang into its board of directors. He joins the company with a strong track record of successful, strategic and financial management. He also boasts deep knowledge of Ekso Bionics Holdings, Inc. (NASDAQ:EKSO)’s technology, products and end markets.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $EKSO and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Helios and Matheson Analytics Inc. (NASDAQ:HMNY) Keeps Rising

Helios and Matheson Analytics Inc. (NASDAQ:HMNY)

Helios and Matheson Analytics Inc. (NASDAQ:HMNY) traded higher in Monday’s trading session as investors continue to take note of the company’s latest acquisition, MoviePass. The stock was up by 33.9% on viral subscriber growth.

HMNY Stock Performance

HMNY is up by more than 400% for the year, investor confidence on the stock having been strengthened by the acquisition of a majority stake in MoviePass. The stock is currently trading at multi-year highs as it closes in on its 52-week high of $23.49 a share.

Helios and Matheson Analytics Inc. (NASDAQ:HMNY)

The stock’s impressive performance has to do with a milestone that MoviePass has achieved in recent weeks. The technology company has surpassed 400,000 paying monthly subscribers over the past month – up from less than 20,000 in August.

MoviePass Subscriber Growth

The robust subscriber growth has mostly come from an innovative technology that learns subscriber’s tastes and makes recommendations. Reduction of the monthly subscription to $9.95 also had a positive impact.

A survey on MoviePass subscribers shows that most of them decided to start watching movies in theaters because of the MoviePass subscription service. The company expects its subscription base to grow to 2.5 million paying subscribers over the next 12 months.

A decision by Netflix, Inc. (NASDAQ:NFLX) to increase the prices of its subscription plans has also been a blessing in disguise for the Helios and Matheson Analytics subsidiary. The price increase has essentially made MoviePass offerings relatively cheap, thereby bolstering subscriber’s and investor’s excitement.

MoviePass is the ‘all-you-can-eat’ movie theater experience. Though expensive for the company in the short-term, it’s a significant benefit and more convenient for customers. With MoviePass, there’s no movie ticket prices to think about — going to the movies will become an everyday experience rather than an occasional treat,” said MoviePass CEO Mitch Lowe.

In a bid to attract more subscribers and a keep studios happy, Helios and Matheson Analytics Inc. (NASDAQ:HMNY) has started to use artificial intelligence and algorithms to provide studios with precise data for effective advertising. Movie theaters have already reported a 400% increase in attendance attributable to MoviePass.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $HMNY and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

LiNiu Technology Group (NASDAQ:LINU) Signs Strategic Agreements

LiNiu Technology Group (NASDAQ:LINU)

LiNiu Technology Group (NASDAQ:LINU) experienced a surge in stock price in Friday’s trading session, following the launch of an electronic trading platform dedicated to the Chinese agricultural industry. Shares of the company more than doubled in value, after gaining 115% to end the week at $2.35 a share.

LiNiu Technology Group (NASDAQ:LINU)

LINU Stock Performance

Friday’s rally follows a sell-off wave that had plagued the stock and pushed it to multi-year lows. While the stock is up by more than 40% for the year, it is still down by more than 70% from the $4.20 a share mark that was recorded in June.

Renewed investor interest in the stock follows the signing of a strategic cooperation agreement with The Peoples Insurance Company of China Limited’s (PICC) Guangzhou branch. Pursuant to the agreement, the two are to work on the development of new insurance products tailored for local farmers and the greater agriculture industry.

Guangzhou LiNiu will also promote PICCs insurance products on its LiNiuYang trading platform as part of the agreement.

“We are pleased to be working closely with PICC to help further enhance our presence in Guangdong province while devising new products in concert with PICC that should provide additional benefits to customers of our LiNiuYang platform,” said Mr. Wang Shun Yang, co-Chief Executive Officer of LiNiu Technology Group.

SGALP Collaboration

The PICC agreement builds on a strategic cooperation agreement that LiNiu Technology Group (NASDAQ:LINU) signed with Shou Guang Agriculture Logistic Park. (SGALP). Under the terms of the agreement, the two companies are to co-operate on product offerings, information resources, and consumer management.

LiNiu Technology Group (NASDAQ:LINU) expects the collaboration to increase its annual trading amount. Guangzhou LiNiu, on the other hand, is to earn additional commission income through an increase in daily traffic on its platform.

“We are pleased to embark on our new relationship with SGALP, which we believe will be a key strategic alliance that should provide a significant boost to our LiNiuYang platform, while allowing us to further utilize our technological capabilities to the benefit of SGALP,” said Mr. Wang Shun Yang, co-Chief Executive Officer of LiNiu Technology Group (NASDAQ:LINU).

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $LINU and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.