5 Stock Gainers For May 27: VTNR, GOED, RZLT, AMC, RVPH

By Amit Chowdhry ● May 27, 2021

Here is an overview of 5 of the top stock gainers for May 27 and why the stock prices moved.

Vertex Energy Inc (NASDAQ: VTNR) – 124.16% Increase

The stock price of Vertex Energy Inc (NASDAQ: VTNR) increased by 124.16% today as it went from a previous close of $1.78 to $3.99. Investors responded positively to the company announcing it it has entered into a definitive agreement to buy the Mobile refinery located in Mobile, Alabama from Equilon Enterprises LLC d/b/a Shell Oil Products US, Shell Oil Company, and Shell Chemical LP (Shell), subsidiaries of Royal Dutch Shell plc, for $75 million (More details).

1847 Goedeker Inc (NYSEAMERICAN: GOED) – 40.51% Increase

The stock price of 1847 Goedeker Inc (NYSEAMERICAN: GOED) increased by 40.51% from $4.32 to $6.07. There was no company-specific news that drove the stock price up. However, an SEC filing was published yesterday saying that the NYSE American certified its approval for the listing and registration of warrants to purchase common stock of the company — but that is something that would not normally drive up a stock price. At about 11:30AM, the company said it is unaware of the reason behind the stock price volatility.

And then at 6:35PM, the company announced the pricing of an underwritten public offering of 91,111,111 units, each unit consisting of one share of common stock and one warrant to purchase one share of common stock. Each unit is being sold to the public at a price of $2.25. The gross proceeds to the company from the offering are expected to be about $205 million before deducting underwriting discounts, commissions, and other offering expenses. The warrants included within the units are exercisable immediately, have an exercise price of $2.25 per share, and expire 5 years from the date of issuance. 

The price of GOED fell 69.69% after hours to $1.84.

Rezolute Inc (NASDAQ: RZLT) – 40.31% Increase

The stock price of Rezolute Inc (NASDAQ: RZLT) increased by 40.31% today as it went from a previous close of $7.69 to $10.79. Investors responded positively to Oppenheimer analyst Kevin DeGeeter initiating coverage of Rezolute with an Outperform rating and $25 price target. 

AMC Entertainment Holdings Inc (NYSE: AMC) – 35.58% Increase

The stock price of AMC Entertainment Holdings Inc (NYSE: AMC) increased by 35.58% today. The stock price increase was largely driven by retail investors coordinating a short squeeze through social media. AMC’s stock price increased over 110% in the past 5 trading days.

Reviva Pharmaceuticals Holdings, Inc. (NASDAQ: RVPH) – 25.57% Increase

The stock price of Reviva Pharmaceuticals Holdings, Inc. (NASDAQ: RVPH) increased 25.57% as it went from a previous close of $4.42 to $5.55. Investors appear to be responding positively to the company announcing the pricing of its upsized underwritten public offering of 8 million shares of its common stock (or pre-funded warrants to purchase common stock in lieu thereof) and accompanying investor warrants to purchase up to 6 million shares of common stock. Each share of common stock (or pre-funded warrant in lieu thereof) is being sold together with one investor warrant to buy 0.75 shares of common stock at a combined effective price of $3.75. 

And the investor warrants will be immediately exercisable at an exercise price of $4.125 per share of common stock and will expire 5 years from the date of issuance. This offering is expected to close on June 1, 2021, subject to customary closing conditions. Plus Reviva has granted the underwriters a 45-day option to purchase an additional 1.2 million shares of common stock and/or investor warrants to purchase up to an additional 900,000 shares of common stock at the public offering price less discounts and commissions.

The gross proceeds — before underwriting discounts and commissions and estimated offering expenses — are expected to be approximately $30 million. And Reviva plans to use the net proceeds from the offering to continue the clinical development of brilaroxazine (RP5063) for the treatment of acute and maintenance schizophrenia, and for working capital and other general corporate purposes.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.