DENVER, Colo., September 12, 2023 (www.247marketnews.com)-
The Legendary Ryan Cohen Strikes Again!
A lot of traders are talking about Cybin’s (NYSEAMERICAN:CYBN) SC 13G filing, which revealed the acquisition of a whopping 18,950,000 shares by Point 72 Asset Management. The fund is run by none other than the financial maverick, Ryan Cohen! Widely celebrated as a Wall Street hero, with a following that built on his legendary trades, Cohen is best remembered for his iconic plays with Game Stop Corp (NYSE: GME) and Bed Bath & Beyond.
Cohen is also famous for his advocacy in the alternative medicine investment space.
This large reveal follows Cybin’s recent Small Pharma acquisition and seemingly bodes well for the overall space.
Lucy Scientific Discovery’s (NASDAQ: LSDI) strategic moves look even Stronger
Cohen’s move, in my opinion, highlights the importance of quality acquisitions in the psychedelic space and there may not be two better executed acquisitions than Lucy Scientific Discovery’s (NASDAQ: LSDI) strategic moves to acquire BlueSky Wellness and High Times.
Whereas Cybin’s all-share Small Pharma acquisition creates an international clinical-stage novel psychedelic therapeutics leader, Lucy Scientific’s power move has insiders and investors buzzing with anticipation because of the deals’ structure and the expected financial results. Post-acquisition, Lucy Scientific is set to have 25 million shares total outstanding, after adding more than $30 million in revenue and $10 million in EBITA, for the first 12 months following the official closing.
Avinger (NASDAQ: AVGR) Skyrockets more after hours!
We covered Avinger’s (NASDAQ:AVGR) Tigereye ST news yesterday when it was trading at $6.52, up $2.39 (+57.75%), on 8.6M shares traded. The commercial-stage medical device company is marketing the first and only intravascular image-guided, catheter-based system for diagnosis and treatment of vascular disease, announced full commercial launch of its Tigereye® ST next generation image-guided chronic total occlusion (CTO) crossing system.
After ending last Friday at $4.13, the stock catapulted to over $12 in after-hours trading yesterday; a monumental surge of more than 200% and over 41 million shares traded.
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