From weed to beer, Tilray expands ?

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TLRY – Up 11% in pre-market after announcing agreement to acquire eight beer & beverage brands from Anheuser-Busch

CHGG – Up over 21% after Q2 revenue beat and “promising” AI education tool to take on ChatGPT

VVOS – Up over 160% in pre-market on no apparent news

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TLRY – Up 11% in pre-market after announcing agreement to acquire eight beer & beverage brands from Anheuser-Busch

Tilray Brands (TLRY) engages in the research, cultivation, processing, and distribution of medical cannabis products in Canada, the United States and internationally.

In the after-hours yesterday, the company announced that it would acquire eight beer and beverage brands from Anheuser-Busch (Bud and Bud Light’s parent company. The acquisition is expected to provide Tilray with additional pro-forma revenue of approximately $300 million adding to the company’s currently profitable U.S beverage alcohol portfolio.

The stock is up 11% in pre-market on the news.

$2.40 has acted as a support area in the after-hours and will be an important level to watch.

Above it, targets to the upside are $2.50 and then the after-hours higher of $2.60. Beyond that, $2.80, $3, $3.40 and $3.60 come into play.

Below $2.40, there is potential support at $2.35, $2.30 and a gap to fill at $2.22.

CHGG – Up over 21% after Q2 revenue beat and “promising” AI education tool to take on ChatGPT

Chegg (CHGG) operates direct-to-student learning platform that supports students starting with their academic journey and extending into their careers with products and services to support learners with their academic course materials. The company offers Chegg Services, which include subscription services; and skills and other, including skills, advertising services, print textbooks, and eTextbooks.

Late yesterday the company reported Q2 EPS of $0.28, in line with estimates and sales of $182.90M beating $176.19M expected. And CHGG sees Q3 total net revenues $151M-$153M vs $152.37M expected.

The stock has taken a beating this year with competition from Chat GPT. The company hopes that this acquisition will help them take on the competition.

The company stated, “The new Chegg experience, which is planned to roll out over the course of the next two semesters, will combine the best of generative AI with Chegg’s proprietary high-quality content and demonstrated ability to help improve student outcomes.”

The stock traded up over 21% in pre-market on the news.

$12.50 was support in the afterhours that has since become resistance in the pre-market.

Above it, targets to the upside are $12.75, $13 and the after-hours high of $13.22. Beyond that, $15.20, $16 and $17 come into play.

Below $12.50, there is potential support at $12.20, $11.81, $11 and a gap to fill at $10.03.

VVOS – Up over 160% in pre-market on no apparent news

Vivos Therapeutics (VVOS) is a medical technology company that develops and commercializes treatment alternatives for patients with dentofacial abnormalities, obstructive sleep apnea (OSA) and snoring in adults.

The stock traded up over 160% this morning on no apparent news.

VVOS is a low priced stock with a market capitalization of just under $8million at yesterday’s close according to Finviz and a float of around 18 million. The stock traded over 7.5 million shares before 8am this morning, and is on watch for day traders today.

The $0.60 area was resistance in pre-market and then acted as support.

Above it, targets to the upside are $0.70, $0.75 and then the pre-market high at $0.78. Beyond that, $0.84, $1 and $1.10 come into play.

Below $0.60, there is potential support at $0.50, $0.40 and then a gap to fill at $0.2610 which was yesterday’s closing price.

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