February 01, 2023 | Read Online

E-sports and AI in play, what you need to know today

*Together with

Good morning, 360 Wall Street!

Here are our top investing ideas today. These setups look primed! Be the best prepared investor on the Street. And don't forget to check out today's Economic Calendar below -- a LOT happening!

MSGM/MGAM - MGAM up over 70% in sympathy with MSGM

AI - Up over 30% in 3 days on strength in Chat GPT/AI names

SOBR - 2nd day play, closed 60% higher yesterday after announcing first two SOBRcheck installations

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*This is an issuer-paid advertisement, see disclosure below

MSGM/MGAM - MGAM up over 70% in sympathy with MSGM

MSGM closed yesterday up over 700% and is up another 250% on top of that this morning. The company announced yesterday that $1 million in debt would be repaid and that shareholder Mike Zoi disclosed a purchase of 338,983 shares at an average price of $2.95.

This news was the catalyst to send the stock from a close of $2.63 Monday to above $20 yesterday. The company had a reverse split a couple of months back and has a very small float of shares according to Finviz.

MGAM was up over 150% in sympathy with MGSM yesterday and is up over 88% this morning. Keep your eyes on these 2 and other gaming/ e-sports related stocks such as GMBL today.

$5.06 was a level of major prior resistance back in August and should be a big pivot level today in MGAM. It was also resistance in the pre-market area selling off almost 10% after getting there in the A.M.

Above $5.06 targets to the upside are $5.45/$5.60 area then $6.65 and $8.40 above that.

Below $5.06 there is potential support at $4.55, $4.14, $3.80, $3.38 and a gap to fill at $2.58.

AI - Up over 30% in 3 days on strength in ChatGPT/AI names

ChatGPT has taken the world by storm and Buzzfeed (BZFD) got the party started with a ChatGPT PR last week which sent the stock up over 200%. That put the eye on artificial intelligence related names such as AI. Well, AI is up over 30% in 3 days in sympathy and announced yesterday that it would incorporate ChatGPT into its own AI Productive Suite. That sent AI up over 20% yesterday.

$21.34 was the high yesterday and should be an important pivot level today.

Above it, the next target is today's pre-market high of $21.79. Above that potential resistance levels are $23, $23.58 and $24.75 above that.

Below $21.34, $20 is an important psychological area, with potential support at $19.75, $18.80, $18 and $17 below that.

SOBR - 2nd day play, closed 60% higher yesterday after announcing first two SOBRcheck installations

SOBR Safe (SOBR), a company that develops non-invasive alcohol detection and identity verification systems, announced yesterday its first two SOBRcheck installations in the oil and gas industry at TerraTech. The news sent SOBR 60% higher yesterday with a close near the highs for the day.

Yesterday's high of $1.94 will be the first target for bulls today. Above it, the next targets to the upside are $2.27, $2.50 and $3 above that.

Below $1.94 there is potential support at $1.55-$1.50, $1.40, $1.30 and $1.20 below that.

Economic Calendar for Wednesday Feb 1 (EST)

7:00am MBA Mortgage Applications

8:15am ADP Employment Report

9:45am PMI Mfg Final

10:am ISM Mfg Index

10:am Construction Spending

10:00am JOLTS

10:30am EIA Petroleum Report

2:00pm FOMC Announcement

2:30pm Fed Chair Press Conf

Earnings for Wednesday Feb 1 (After Market)

AFG, AFL, ALGN, ALGT, ALL, AMSC, ARAY, AVNW, AVT, BDN, BHE, CCS, CHRW, CHX, CLB, CSGS, CTVA, DXC, EGHT, ELF, ENVA, GAIN, GHL, GL, HOLX, HWKN, IVAC, JBSS, KLIC, KRC, LCI, LFUS, LSTR, MAA, MCK, MET, META, MKL, MOD, MTG, MTH, MUSA, MXL, NTGR, PTC, QRVO, RRX, RYN, SGU, SIRE, SITM, SLM, TBI, THG, TTEK, UFI, UGI, UVV, VSTO

Top Headlines

BA Boeing CEO says market is 'as strong as i have seen,' does not see any recession impacting aerospace industry -Bloomberg tv

BAC Investors Not Convinced of Bull Transition, Currently Holding Record Cash Levels; $5 Trillion Of Cash Sitting In U.S. Money Market Funds: Insider

TSLA "One of Tuesday's two experts .. made a case for calculating the damages suffered by $TSLA shareholders during a 10-day period in August 2018 at anywhere from $4 billion to $11 billion ." AP new Carl Q

NIO: From January 13, 2023 to January 31, 2023, the peak travel season around the Chinese New Year Holiday, NIO provided over 1 million power swaps to its user.

NIO: Delivered 8,506 vehicles in January 2023. The deliveries consisted of 2,190 premium smart electric SUVs, and 6,316 premium smart electric sedans. Cumulative deliveries of NIO vehicles reached 298,062 as of January 31, 2023.

XPEV XPENG: Delivered 5,218 Smart EVs in January 2023. January deliveries included 2,249 Flagship G9 SUVs. Vehicle deliveries for the month reflected seasonal slowdown during the Chinese New Year holiday period which began in mid-January.

FLEX Our Next Energy (ONE) Raises $300 Million in Series B Equity, Valuing the Company at Over $1 Billion

GOOG Google is reportedly testing an alternate home page with ChatGPT-style Q&A prompts The Verge

'Big Short' legend Michael Burry issues a grave warning to investors with a one-word tweet: 'Sell.' CNBC

EVTV Envirotech Vehicles Delivers Chassis for Garsite's First All-Electric Aircraft Refueler to Atlantic Aviation in Colorado

IR: Ingersoll Rand Acquires Paragon Tank Truck

BCDA: BioCardia and CellProthera Enhance Collaboration for Development of ProtheraCytes™ for the Treatment of Acute Myocardial Infarction in Europe and Potential Early Access for Patients

CAT price target raised to $225 from $200 at Barclays

CAT price target raised to $306 from $290 at Credit Suisse

LVS MGM WYNN MLCO Macau reports January casino revenue up 82.5% to 11.58B

PSTV: Plus Therapeutics Completes Enrollment in Second ReSPECT-LM Phase 1 Trial Cohort of Rhenium (¹⁸⁶Re) Obisbemeda for the Treatment of Leptomeningeal Metastases

TNXP Tonix Pharmaceuticals Announces Research Agreement with University of Maryland, Baltimore, to Study TNX-1500 (Fc-modified anti-CD40L mAb) for the Prevention of Rejection in Heart Xenograft Transplantation

PTON CEO: "Stabilizing our cash flow was necessary for the survival of Peloton. In the last 12 months, we've dramatically improved our free cash flow from $(747)M in 3Q22 to $(94) Min 2Q23 (& +ve $8M exthe costs of paying suppliers to settle obligations for parts we don't need)"

APYX Apyx Medical Corporation Announces FDA 510(k) Submission for the Use of the Renuvion® APR Handpiece for the Coagulation of Subcutaneous Soft Tissues Where Needed, Following Liposuction

SOPA Society Pass (Nasdaq: SOPA) Engages ThinkEquity to Facilitate Stock Repurchase Program of Up to US$2 Million Commencing on 01 February 2023

CYBN Cybin Announces Approval of First-in-Human Dosing of its Proprietary DMT Molecule CYB004

ALLY: The 22 Fund Announces Multi-Million Dollar Investments from Ally Financial and 4S Bay to Create Sustainable High-Tech U.S. Manufacturing Jobs

SONN Sonnet BioTherapeutics Announces Successful Completion of Two IND-Enabling Toxicology Studies with SON-1210 in Non-Human Primates

CDTX: Cidara Therapeutics and WuXi XDC Expand Collaboration for IND-enabling CMC Development to Advance Cidara's CD73 Oncology DFC Program

MRSN: Mersana Therapeutics Initiates Expansion Portion of UPGRADE-A Combination Clinical Trial in Platinum-Sensitive Ovarian Cancer

BLNK: Blink Charging Retains Share Intel to Investigate Suspected Illegal Naked Shorting Activity

GENI: Massachusetts Gaming Commission Awards Genius Sports Initial Temporary Sports Betting Vendor License

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