24/7 Market News first June 2022 Weekend weekly Wrap-up

(24/7 Market News) Last week Mullen Automotive’s (NASDAQ: MULN) trading was uneventful, drifting slightly down on Friday, but Mullen alerted our scanners in Tuesday’s premarket session and ran hard into Wednesday, exceeding 300 million and 200 million shares respectively. It challenged $1.70 on Wednesday, but just fell short, and Mullen closed today at $1.27, 4 (+3.25%) cents higher on 86,712,869 shares.

Mullen’s short interest is 38.3M shares, which is 15.4% of the float, but only less than half a day to cover.

After making a massive move higher on Wednesday, Energy Focus Inc. (NASDAQ: EFOI) made another today, but on nearly four times more volume. Energy Focus closed today at $1.65, $0.54 (+48.65%) higher, on 102,013,109 shares.

Amylyx Pharmaceuticals Inc. (NASDAQ: AMLX) shares took off in this morning’s premarket action, after it stated that the FDA extended the decision date, for its experimental amyotrophic lateral sclerosis treatment, to September. Amylyx closed today at $12.35, a $2.58 (+26.41%) gain, on 21,129,423 shares traded.

In fact, two of last week’s companies may be moving through similar action.

Immix Biopharma Inc. (NASDAQ: IMMX) Demonstrated Improved Survival Over U.S. Food and Drug Administration Approved Drug Trabectedin (sold as YONDELIS by Janssen, a Johnson & Johnson Company) in Connective Tissue Cancer Soft Tissue Sarcoma Mice Study.

Immex continues to rally, finishing the week at $2.48, up $0.09 (+3.77%), on 2,149,718 shares.

Borr Drilling Ltd. (NYSE: BORR) hit several new 52 week highs during the week, following its Q1 2022 financial reporting, when the Company reiterated its 2022 guidance with $375-400 million revenues and adjusted EBITDA between $115-140 million.

Borr closed today at $6.45, down 11 cents (-1.68%), on volume of 1,452,793 shares.

Helius Medical Technologies, Inc. (Nasdaq: HSDT) was selected for a poster presentation at the Consortium for Multiple Sclerosis Centers (CMSC) Annual Meeting taking place June 1-4 in National Harbor , Maryland. Helius closed the week at $2.19, $0.19 (+9.50%) higher on the day, with 602,339 shares traded.

As we mentioned that we thought it would do, Redbox Entertainment Inc. (NASDAQ: RDBX) remains very much in play for nimble traders who are able to scalp long and/or short, as it made a 50% move higher this week, after starting the week with what was a nearly 50% move down for the shorters.

RDBX closed the week at $6.39, down $0.24 (-3.62%) for the day, on 7,674,780 shares. Even though today’s trading range was just over $1, it’s the tightest range since mid-May.

After 3 weeks of consistent gains, partially fueled by insider purchases, Beachbody Company, Inc. (NYSE: BODY) spent this week trading mostly sideways, in what looks like it may be a consolidation move.

Beachbody closed this week at $2.04, down $0.08 (-3.77%) for the day on 1,324,112 shares traded, and 12 cents lower than from where it started the week.

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