After the long weekend, the stock market is back with its full power. With one less trading day this week, there’s no time to mess around with some random stocks. But don’t worry we are here to help, we did all the leg work for you! The hot stocks list today includes Mullen Automotive, Inc. (NASDAQ: MULN), Rubicon Technology, Inc. (Nasdaq: RBCN), and Cowen Inc, (NASDAQ: COWN). In this article, we will go over the catalysts that made each stock pop today and why investors believe in their potential moving forward.
#1 Hot Stocks To Buy: MULN
First on our hot stocks list today is Mullen Automotive, Inc. (NASDAQ: MULN). As a California-based company, Mullen is an emerging electric vehicle manufacturer that works on offering premium automotive retail that fits the daily needs of US citizens.
The company is making headlines today as it announced the reduction of its debt from over $30 million to an estimated $11 million. Since the announcement, investors have been eyeing MULN as it continues to strengthen its financial position and prepare for growth in the coming weeks.
This recent debt reduction was associated with a secured convertible promissory note which was issued from DBI Lease Buyback Servicing LLC on 23rd July 2020. Commenting on that, Mullen’s CEO and Chairman – David Michery – said that
This recent elimination of debt makes us financially stronger now, allowing the Company to maintain its focus on its various EV initiatives.”
Last week, Mullen announced that the board expects to report what might be its strongest financial report of the company to this day! With speculation of over $61 million in cash and cash equivalents for the quarter ending June 30, 2022, this year is already looking bright for the company and its shareholders.
https://twitter.com/Rizzle_Dizzle36/status/1544395170799550464
In fact, just last May the company delivered its very first EV van to a US telecommunications provider. At the moment, Mullen is awaiting the approval of its shareholders to secure $275 million in additional funding for the company. The company plans to utilize the funding in developing several of its ongoing projects including the FIVE EV Crossover, the FIVE RS high-performance vehicle program development and the EV Cargo Van Class 1-4 program.
Currently trading at $.99, the stock is regaining some of the momentum it lost. MULN has a resistance around 1.53 and a support near .95.
The MACD is on a bullish crossover, on the other hand, accumulation is trending downwards and the RSI is holding at 38 – indicating the stock could be slightly oversold at the moment. This slight dip might be a good entry point as the stock is steadily making its way up investors’ watchlists.
#2 Hot Stocks To Buy: RBCN
As a company that specializes in producing advanced materials Rubicon Technology, Inc. (Nasdaq: RBCN), focuses on manufacturing monocrystalline sapphire products for optical systems.
Rubicon caught investors attention due to its announcement of entering into a definitive stock purchase and sale agreement with Janel Corporation (Other OTC:JANL). Under the terms of the agreement, Janel will initiate a cash tender offer to purchase less than half of Rubicon’s common shares – up to 45% – at a price of $20 per share.
As a holding company that operates through its subsidiaries in various industries such as logistics, manufacturing and life sciences, Janel has potential to bring high value and ROI to RBCN’s stockholders.
It is also worth noting the Rubicon’s board of directors intends to distribute cash to its shareholders in the amount of $11per share after the deal is finalized. Additionally, two of the company’s directors will resign and Janel will obtain the right to select who will fill their seats. If you want to stay updated on RBCN and countless other stocks that go on major runs, sign up for our 100% free alerts!
Upon the news, the stock’s price skyrocketed to currently be traded at $14.9 with a newly formed resistance around 15.28 and a primary support near 9.01 as well as a secondary one at 7.76.
Although accumulation is on a downwards trend, the MACD is on a recent bullish crossover. Meanwhile, the RSI is at 74 indicating that the stock is overbought at the moment. Chasing a run up is always a risk so you can wait for the next dip to get on RBCN. Keeping in mind that upon the deal closing, the stock could break its resistance and reach new highs!
#3 Hot Stocks To Buy: COWN
The last stock to make it on our hot stocks list today is Cowen Inc. (NASDAQ: COWN). Many media outlets reported that Toronto-Dominion Bank (TSE: TD) is thinking about acquiring COWN. Resulting in a 28% increase in COWN’s value over the day.
Cowen operates in the finance and banking industry through its subsidiaries with a focus on prime brokerage, investment banking, and trading. As well as securities financing, commission and investment management.
Although the two companies still didn’t comment on those speculations, this news is not far-fetched. Due to the fact that the bank has made its intentions clear to further expand its operations in the US through acquisitions, it has already announced its plan to acquire the Tennessee-based company First Horizon National(FHN). Keeping in mind that the anonymous resources who leaked that information emphasized that no decision is made to this moment.
Following the 28% increase, COWN Stock is currently valued at $30.93 with a primary support near 23.64 and a stronger secondary one around 22.31.
All the indicators are the off charts today, with accumulation trending upwards and the MACD on a recent bullish crossover. Meanwhile the RSI is at 80 indicating that the stock is extremely overbought right now.
Bottom Line
MULN, RBCN and COWN all have great potential in the future with their catalysts here for the long run. If you time your entries right these stocks can easily make you millions in gains! If you need help finding the right entry points, sign up now for our alerts and we will send you the latest hot stocks daily!
As always, good luck to all (except the shorts)!
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Disclosure: We have no business relationship with any company whose stock is mentioned in this video. Viral Stocks is not an investment advisor and this video does not provide investment advice. Always do your own research, make your own investment decisions, or consult with your nearest financial advisor. This video is not a solicitation or recommendation to buy, sell, or hold securities. This video is our opinion and is meant for informational and educational purposes only and does not provide investment advice. Past performance is not indicative of future performance.
