Wall Street has been on a bull trend ever since Donald Trump became president-elect. With this the Dow has approached the 20,000 and markets are buzzing. This is uncharted territory and could pose exciting times ahead for bears and bulls. However with stocks heading higher, there’s been much more attention on moving out of cash and into equities. As Robert Doll, Nuveen Asset Management’s chief equity strategist, stated when asked if he’s keeping any cash holdings, his reply was simply, “Hold cash? “What for? Market’s going up!” Several stocks have begun trending late in the week leading up to the holidays including Michael James Enterprises, Inc. (MJTV), Prima Biomed (PBMD), Iconic Brands, Inc. (ICNB), and CableClix USA (CCLX).
On Thursday, Michael James Enterprises traded higher during the early morning session. The company’s upcoming product launch has gained attention from several market news outlets. The company made the announcement that it plans to bring its LUNA product to retail in January of 2017 and ahead of this, they’ve also been developing the final packaging and finishing details for their female sexual dysfunction product called VOLUPTAS.
The anticipated release has been tentatively set for early next year. In its most recent announcement, Michael James announced a significant change in capital structure which included the retirement of shares and resulting reduction in shares outstanding of over 40%. In a statement, CEO James M. Farinella said, "So often companies raise money and dilute the share structure of a company. I am taking this action because I want the public to know that we take the capital structure very seriously. With our first product LUNA hitting the market as we speak, with sales already starting, and Voluptas planned for launch in the near future we are poised for explosive growth and I want to make sure that translates into greater shareholder valuations now and in the future."
Similarly, Prima Biomed has gained recent attention from the street following an announcement made late Wednesday afternoon. Prima revealed interim data from the AIPAC Phase IIb clinical trial for IMP321 in metastatic breast cancer. According to the company, the initial data confirms previous trial results showing IMP321 is safe and well tolerated. Prima's current lead product is IMP321, based on the LAG-3 immune control mechanism which plays a vital role in the regulation of the T cell immune response. IMP321, which is a soluble LAG-3Ig fusion protein, is an APC activator boosting T cell responses. IMP321 is currently in a Phase II clinical trial as a chemoimmunotherapy for metastatic breast cancer termed AIPAC and in a Phase I combination therapy trial in metastatic melanoma termed TACTI-mel.
Since hitting lows of $0.51 earlier in the week, shares of Prima have climbed by as much as $1.05 during afterhours trading on Wednesday. Thursday’s highs remain 65% higher than those previous lows this week.
Iconic Brands has remained in a bull trend late in the week. The beverage branding company recently announced that it had closed on its deal for Bellissima Prosecco. Iconic began selling Bellissima's products in September of this year and has sold out the first two production runs. Bellissima is currently available in 12 states with 18 additional states pending approval, and distribution through all major channels including Southern Glazers, Empire Brands, Allied Distributing, Horizon Beverage and Empire Distributors. The company also reached an agreement with its existing note holders, whereby terms of conversion have been renegotiated and outlined. Since late November the stock price has climbed as much as 400%.
CableClix USA is joining the list after seeing a strong increase in trading momentum. Wednesday the company announced that it has begun negotiating franchise operating agreements with domestic municipalities covering the top 25 TV markets in the US. Over the last few weeks, CableClix has jumped from levels around $0.03 to highs of $0.105 on Thursday morning. The company is a virtual private cable network (VPCN) company bringing local High Definition live television, and paid premium content over the Internet. CableClix.com provides high speed, high definition, live, DVR, and video-on-demand services to subscribers in their local viewing area. CableClix has developed an innovative platform that ensures delivery of local affiliate content to the intended metropolitan broadcast area while allowing customers the flexibility to watch television on a variety of devices.
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