This small cap has a BIG new partnership in India

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This small cap has a BIG new partnership in India

  

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Here are our top 3 investing ideas today. These setups look primed! Be the best prepared trader on the Street!

ZCAR – Up over 50% in the pre-market after partnering with EasyMyTrip in India  

NCMI – Up over 20% in pre after announcing earnings beats guidance and $100 million share repurchase program 

ENVB – Up over 40% in pre after 2nd biotechnology company to potentially out-license novel compounds from Enveric’s portfolio of assets with possible significant milestone payments and royalties

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ZCAR – Up over 50% in the pre-market after partnering with EasyMyTrip in India 

Zoomcar Holdings, Inc. (ZCAR) operates a marketplace for car sharing in India, Indonesia, and Egypt. It connects hosts with guests, who choose from a selection of cars for use at affordable prices, promoting smart transportation solutions.

Overnight, the company announced that it had partnered with EaseMyTrip to provide pre-booked and on-demand self-drive cars in India. EaseMyTrip is one of India’s largest online travel platforms,

With this partnership, Zoomcar’s wide range of self-drive cars have been seamlessly integrated into the EaseMyTrip platform, allowing users to book their preferred Zoomcar directly from the EaseMyTrip app offering travelers convenience  and flexibility in planning their journeys.

ZCAR stock traded up over 50% in the pre-market on the news.

The $1.70 area has acted as support in the pre-market and will be an important level to watch.

Above it, targets to the upside are $1.80, $1.95, $2 and then the pre-market high at $2.14. Beyond that, $2.50, $3 and $3.50 come into play.

Below $1.70, targets to the downside are $1.55, $1.41 and then a gap fill at $1.18.

NCMI – Up over 20% in pre after announcing earnings beats guidance and $100 million share repurchase program

National CineMedia, Inc. (NCMI) operates a cinema advertising network in North America. 

In the after-hours yesterday, the company reported Q4 total revenue of $90.9 million vs $91.7 million in the fourth quarter of 2022.

Q4 reported net income was $23.7 million vs $6.1 million the prior year.  

The company stated

“We are very encouraged by our strong fourth quarter performance, which led to a 43% increase in active national advertisers and record revenue per attendee.

For Q1 2024 NCMI expects total revenue of $34.5 million to $35.5 million, compared to total revenue for Q1 2023 of $34.9 million, and adjusted OIBDA in the range of negative $7.5 million to $6.5 million, compared to adjusted OIBDA for the first quarter 2023 of negative $10.9 million.

NCMI also announced a $100 million share repurchase program.

The stock traded up over 20% in the pre-market after the earnings report. 

$5.24 was resistance in the pre-market and now becomes an area of potential support.

Above it, targets to the upside are $5.36 and then the pre-market high at $5.72. Beyond that, $6, $6.50 and $6.80 come into play. 

Below $5.24, targets to the downside are $5.07, $5, $4.75, $4.60, $4.45, $4.30 and then a gap fill at $4.22.

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ENVB – Up over 40% in pre after 2nd biotechnology company to potentially out-license novel compounds from Enveric’s portfolio of assets with possible significant milestone payments and royalties

Enveric Biosciences (ENVB) is a biotechnology company dedicated to the development of novel neuroplastogenic small-molecule therapeutics for the treatment of depression, anxiety, and addiction disorders.

This morning, the company announced that it had signed a non-binding term sheet to pursue the exclusive out-licensing of cannabinoid-COX-2 conjugate compounds for both pharmaceutical and non-pharmaceutical applications for treatment of joint diseases.This is the second biotechnology company to potentially out-license novel compounds from Enveric’s portfolio of assets with possible significant milestone payments and royalties

The stock traded up over 40% in the pre-market after the news. 

$1.55 was resistance in the pre-market and will be an important level to watch.

Above it, targets to the upside are $1.63 and then the pre-market high at $1.69. Beyond that, $2 and $2.92 come into play.

Below $1.55, targets to the downside are $1.37, $1.28, $1.23 and then a gap fill at $1.10.

Economic Calendar (EST)

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