$WATT Surges 170% After FCC Approves its Wireless Charging Platform

$WATT Surged more than 170% since yesterday's close on news that the FCC approved their wireless charging platform.

The technology works by allowing wireless devices to be charged from up to 3 feet away from the transmitter using RF signals and can charge smaller devices like smartphones and earbuds.   The transmitter is called "WattUp".  This will be a huge positive change free from cords to charge our wireless devices moving forward.

Last night when the news broke, $WATT shot immediately up to $14.50.  This morning during pre market trading it went as high as $18.85.  There was some profit taking at the open and the stock sold off to a low of $15.30.  Around 1:15pm the stock broke the high of the day and continued its ascent to a brand new all time high of $24.10 on all time high volume of over 43 million shares.

With this great news and no resistance in sight, we should see a continuation move even higher.

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$EGBN Down Almost 25% on Negative Insider Loan Scheme Article

Eagle Bancorp, Inc. ($EGBN)

$EGBN shares plummeted more than 30% at one point during the trading day to $46.20 after an article circulated written by research firm Aurelris Value saying "insiders treat Eagle as their own private piggy bank."

The stock was down about 10%, trading around $59.50, until about 1:30pm when the article starting making the rounds on the trading desks. After that, many short sellers really piled into the name and drove the stock down to a low of $46.20 by 3:30pm, before rebounding slightly above that level to end the day at $49.95 or down 24.5%.

 

Among the many things discussed in the article, there are large insider loans that have financed the CEO's personal companies, but haven't been disclosed.

  

Another thing which is apparent to traders/investors who monitor unusual insider transactions is that Eagle Bank hasn't had 1 single insider purchase in the last 12 months.  Also, during that time the CEO has sold over $10.8 Million worth of stock!  

The article by Aurelris Research certainly doesn't offer many reasons to buy this stock. Many other investors and traders will certainly continue to monitor the situation and wait for some official word from the company on this matter. If these issues are deemed to be true, then many more short sellers will pile into the stock and it could be trading in the single digits soon.


I would suggest reading the rest of the article to find out what their research has brought to light. The future certainly looks cloudy at Eagle Bank.

I utilize Trade Ideas to find all of my trades during the day. Whether you are looking for earnings runners or want to see the latest stock making big moves right now, you can customize and create scans that reflect your trading style. The software works for day traders, swing traders, and long term investors.

You can download Trade Ideas here http://bit.ly/2xzWDct I suggest purchasing the Premium monthly version as that includes our Artificial Intelligence engine Holly. http://bit.ly/TIMonthly If you want to save more money, then purchase the Premium Annual version http://bit.ly/TIPremiumAnnual



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