Twilio (TWLO) Continues to Soar as Technical Trading Drives Several Stocks Higher Today; See Which Ones

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Net Element Up on SEC Filing 

Net Element International Inc (NASDAQ:NETE) is 18% higher today after the company filed an 8-K with the SEC for the period of 7/6/2016, disclosing that it has entered into a common stock purchase agreement with ESOUSA HOLDINGS, LLC. The filing specifies that the agreement calls for ESOUSA to purchase up to an aggregate of $10 million of Net Element shares over the 30-month term of the purchase agreement, upon certain terms, conditions and limitations. No fund in our database held shares of Net Element at the end of March. As with all nano-caps, investors are urged to exercise due-diligence before buying or selling shares.

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YY’s Momentum Continues

Technical buying is still alive and well in today’s bull market, as YY Inc (ADR) (NASDAQ:YY) shares have soared by 6.5% in late morning trading on no fundamental, company-specific news. Partly helping YY shares rise today could be that the stock closed above a key moving average yesterday. Shares of YY also trade at 12-times forward earnings estimates, versus the Nasdaq’s forward earnings multiple of around 19. According to our database, 19 elite funds owned shares of YY Inc (ADR) (NASDAQ:YY) at the end of the first quarter, up by three funds from the previous quarter.

Twilio Rises as Traders Anticipate End of Quiet Period

Twilio Inc (NYSE:TWLO) shares are 10% in the green today as traders buy in anticipation of the end of the company’s quiet period on July 18. At that time, various firms that underwrote Twilio’s IPO such as Goldman, JPMorgan, and others can issue coverage on the stock, which presumably could be positive. If the big investment banks issue bullish ratings, Twilio shares could see a brief pop. Twilio Inc (NYSE:TWLO) has had an extremely successful IPO, gaining 46% since its June 24 trading debut. Philippe Laffont‘s Coatue Management recently announced holding a position of 625,000 class A common shares of Twilio.

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Disclosure: None

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