With everyone in the Top 5 having a return between approximately 30 – 34%, this may be one of the tightest starts to Stock Challenge yet. Member ‘MIC’ is currently leading in first place with a return of 34.55%, just barely ahead of members ‘Ron Buss’ and ‘Galato’ (both of whom have a return of 33.56%)! As cliché as it may sound, February’s Stock Challenge is still anyone’s game at this point. Now let’s take a look at our biggest stock breakout and breakdown of the day, Grande West Transportation Group and miRagen Therapeutics, respectively.
Stock Breakouts and Breakdowns
Grande West Transportation Group Inc.
Congratulations to member ‘edward flood’, who picked Grande West Transportation Group—Friday’s biggest stock breakout. Grande West Transportation Group increased 51.16% from C$0.43 to C$0.65 by market close, trading approximately 2.5 million shares in the process. The company announced today that it had received vicinity orders for an estimated C$40 million.
“Grande West Transportation Group . . . announced today that it has received a new contract from its exclusive US distributor, Atlanta-based Alliance Bus Group (“ABG”) for new bus orders with a value of approximately $40M CAD.
The contract was signed February 6th and Grande West expects to record revenue and deliver the Purpose-Built Vicinity Buses within the 2020 calendar year. The new buses will replace an old fleet currently operating throughout multiple locations in the USA with a world-class business and bus operator.”
miRagen Therapeutics, Inc.
miRagen Therapeutics had the biggest stock breakdown this Friday, falling 37.89% from C$1.28 to C$0.80 after trading close to 11 million shares. Today, the company announced the pricing of a $15 million public offering.
“miRagen Therapeutics . . . today announced the pricing of an underwritten public offering of 15,000,000 shares of its common stock and warrants to purchase up to an aggregate of 7,500,000 shares of its common stock. Each share of common stock is being sold together with one-half warrant, with each whole warrant exercisable to purchase one whole share of common stock. Each share of common stock and accompanying one-half warrant is being sold for a combined purchase price of $1.00, for a gross deal size of $15.0 million . . .”
One Week Down, 3 Left to Go in February 2020 Stock Challenge
It’s an insanely tight race right now, but we expect to see contestant returns diverge significantly next week. Enjoy your weekend Stock Challengers! We’ll see you when the competition picks up again on Monday.
P.S. If you haven’t signed up for the March 2020 Stock Challenge, make sure you do so right away! Next month’s contest won’t be the same without you.