Oil, Brexit and The U.S. Election: Thursday’s Stocks To Watch

November 03, 2016 - By: Baystreet Staff

Thursday’s trending market news has headlines being made surrounding Iranian Oil, Brexit developments and of course the presidential race in the US. New concerns over Brexit have arisen as a court ruling on Thursday state that any Brexit plan would have to be approve d by all lawmaker in the U.K. Essentially the entire U.K. parliament must vote on whether or not the country can start the process of leaving the EU.

Aside from this, stakes are high as sanctions on Iran were lifted earlier this year and have begun to stir up concern for U.S. oil majors. Due to restrictions on bidding by American sanction on Iran, oil companies are trying to determine a way to take advantage of the new opportunity Iran’s crude oil reserve pose; all this amidst the week leading up to the U.S. presidential election.

Despite the case for concern abroad, US. Markets have turned slightly green heading into the lunch hour. Several stocks have gained attention on Thursday including Technical Communications Corporation (TCCO), Cataca Resources, Inc. (CATQ), ExoLifestyle, Inc. (EXOL), and SugarMade, Inc. (SGMD).

Technical Communications climbed by more than 30% today as volume has trended well above average for the communications company. There hasn’t been much news as of late with the most recent event coming by way of an 8K filing made in late October. The filing showed that the company received an order valued at $2.373 million, coming from Datron World Communications Inc. This was for military-grade DSP 9000 radio encryption equipment.

Cataca Resources, Inc saw its shares slide earlier this morning. The company’s subsidiary FlitWays has been making several announcements over the better part of the last few weeks. Yesterday the company announced that FlitWays had signed a partnership with Megabus to make travel-ride booking available at every major point of sale. Following lows this morning of $1.26, the stock has recovered during the lunch hour to levels above $2 per share. Since early September, the stock is up by more than 360%.

ExoLifestyle has also seen a climb in price over the last few weeks. Since October 17, shares of EXOL have seen as high as $0.20 to mark 166% during that period. The company has targeted the active lifestyle and fitness industries. On Wednesday the company announced that first-round NFL draft pick Keanu Neal was brought on as Brand Ambassador. According to the company, this move was made to help further expand the brand into other fitness arenas. After pulling back to lows of $0.152 this morning, ExoLifestyle has recovered by more than 10% during the lunch hour.

SugarMade, Inc announced this morning that its CannaShroud cannabis transportation packing system. Focusing on the new industry, the product has been designed to allow for discrete and protected transportation of cannabis. After this news, shares of SGMD have increased. Since opening the day at $0.12, it has seen highs of $0.35 this morning. According to their website, Sugarmade focuses on multiple brands that they believe could be market disruptors across multiple industry segments. Other products also include tree free paper, an e-commerce platform, and custom printed/ generic supplies for quick service restaurants.

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