(24/7 Market News) The recent two week trends may continue this shortened, post Memorial Day, week. Many listings that caught our attention over the past two weeks were bouncing off of 52 week lows, or near that level, so many of them are following through.
Houston American Energy Corp. (NYSE: HUSA) reorted that it acquired an additional interest in Hupecol Meta, LLC, which owns the 639,405 gross acre CPO-11 block in the Llanos Basin in Colombia, comprised of the 69,128 acre Venus Exploration area, operated by Hupecol, and 570,277 acres which was 50% farmed out to Parex Resources by Hupecol, on Friday. Houston American now holds, through its membership interest in Hupecol Meta, now holds an approximately 11% interest in the Venus Exploration area and an approximately 5.5% interest in the remainder of the block.
Houston American is at $5.05, in this morning’s premarket, a $1.29 (+34.31%) gain, on 4,746,357 shares.
We caught Redbox Entertainment Inc. (NASDAQ: RDBX) in April, well before Redbox announced that it reached an agreement to be acquired by Chicken Soup for the Soul Entertainment Inc.
The acquisition terms call for Redbox shareholders to receive 0.087 Chicken Soup for the Soul shares for each Redbox share that they own, which, as has been widely reported, the all-stock deal implies a Redbox valuation below $1 a share. The deal is expected to close later this year.
It’s down 22 cents (-2.85%) in premarket, at $7.49 on 165,751 shares. It’s been mostly higher highs and higher lows, over the past two weeks, and it looks like it will remain active this week, but this one looks like it’ll play out much better for the traders than it may end up being for the buy-and-holders.