Did you see this pre-market move? WOW

This stock’s had a wild move so far                                                                                                                                                                                                                                                                                                                                                                                                                 November 30, 2023 [SAJ 40 Off]( I [LottoX]( I [Hot Deal]( 🌶️ *Sponsored by Sica Media Good morning, team! Two special complimentary events today: 👉Get ready for exciting 0DTE trading in LottoX at 12:30pm EST – we’ve hit some bangers lately so [come check out the action in the RB Market Master’s Room]( 👉Jump over to the [Small Account Journey room]( right after at 1pm EST for a special training with Jason Bond (*please note the TIME CHANGE, originally scheduled for 8pm tonight*) Let’s get to it… Yesterday, we saw a great move for my latest “Bright Idea” – InMed Pharma (INM). For starters, they dropped a new piece of news ([here’s a link]( if you missed it) regarding the progress of their key drug candidate. You would take a moment and read it. The stock responded very nicely. We saw INM trade up around 10% early on in the session, then it faded (which was a great spot to look at it), then it closed the day up well over 20%. That is a fantastic day, no matter how you look at it. But look at this gap higher when pre-market trading started…. This is exactly the reason I like to set my sell order for “Good to cancel + extended hours.” If I had shares, and then say I put an order to sell at say $.50, I would have been able to wake up to a closed trade and more cash in my account. I was not up watching the stock at 4am this morning, but this is a great example of why it pays to set up those types of trades so you can grab a great execution, even if you are not around to make it. You just never know what kind of wild trading you will get in pre-market trading.  This was an amazing opportunity for traders to get a great exit, if they set that order up. It will be interesting to see how INM digests the big gains yesterday. I would really like to see another powerful move higher, but it might take time digesting those gains before the stock decides where to go next. As always, make sure you have a good game plan that fits your trading risk tolerance, and you make good decisions with every trade you make. I hope you have a great day, and I’ll be back soon with more ideas and trading tips! If you didn’t have a chance to read the write-up I put together on INM, I copied the highlights of it below… I think this is an excellent time to be a “stock picker.” There are very likely going to be some unique opportunities that can present some outsized gains. Just like the call I made on Monday (before the market opened) on AFRM. While I think that is a terrible company, I had conviction that it would present an excellent opportunity for at least a short-term rally.  It turns out that being a “stock picker” was right on that idea. The options I alerted all of my Bullseye members to have gained over 600% from the price you could have bought them for just yesterday morning! Don’t let anyone tell you that gains like that aren’t possible!  Or, how about last week when I told you to pay close attention to a stock idea I shared with you? That stock shot up well over 40% within hours after I alerted you to it. I am not saying any of these companies are worth holding on to for very long, but in the short-term, you can uncover some mind blowing trades if you know where to look. Today, I think we have a similar opportunity on our hands. I think it is crucial that you pull up this stock right away… InMed Pharmaceuticals Inc. (Nasdaq: INM) As you look at the stock chart over the last couple of months, you will notice that near the end of October, INM surged. Investors who were patiently waiting for that day were rewarded handsomely. I wanted to start with that because it shows that this stock can really move when it wants to. It is pretty obvious the range that is possible. Since then, the stock has been quietly consolidating at lower prices as all of the “hot money” has likely been leaving the stock. INM had a short “blip” of activity that caused the stock to jump over 30% higher just a few days ago. The stock calmed down in the days that followed, but we could be right on the cusp of something very big happening again. From a technical trading perspective, INM has been building a textbook base around the $.37 level for the last month. That floor should be respected. If it holds up, then we could build towards a nice move higher. If that floor fails, then I think it would be time to remove this from your watchlist and then revisit it at a later date. Assuming the stock attempts a rally from this level, [Yahoo! Finance]( has some very bullish signals right now. INM is flashing green in the “short term” technical outlook with bullish signals flashing on the MACD and Know Sure Thing (KST) momentum indicators.  Yahoo also has identified a short-term “Hammer” forming, which can be a powerful reversal indicator. I think the short-term risk/reward is very interesting right now. As I mentioned, I would give this stock only a little room on the downside before I moved on, but judging by the last two moves the stock has made in the last few weeks, I think there is considerable room to the upside if this pans out. Ok, so the technicals look great right now, but what about INM fundamentally as a company? I am glad you asked! INM is a leader in the pharmaceutical research, development, manufacturing, and commercialization of rare cannabinoids and cannabinoid analogs. The company is already generating revenue through its commercial subsidiary, BayMedica, whose trailing 12-month sales trend shows steady growth. According to its [corporate presentation]( BayMedica had more than $2.3M sales in Q4 of fiscal 2023, a 123% jump from the prior quarter. Although Q1 of fiscal 2024 saw a dip in overall revenue, it still had an 181% increase quarter over quarter from the previous year. On the research front, the company recently completed a Phase 2 clinical study of an investigational drug for epidermolysis bullosa, a rare genetic skin disease, and the full results will be published soon in the official journal of the International Forum for the Study of Itch. Just last month, INM [announced]( that it had selected a lead Alzheimer’s disease drug candidate named INM-901. INM reported that when compared to the placebo-treated Alzheimer's disease group in these preclinical studies, INM-901 treatment groups demonstrated a trend towards improvement in: - cognitive function and memory - locomotor activity - anxiety-based behavior - sound awareness Planning is underway for the next stage of advanced preclinical studies and will include drug metabolism and pharmacokinetics as well as the start of pharmaceutical drug development activities such as manufacturing and formulation. On the financial front, INM [announced]( that they were able to raise a considerable amount of money ($5.2 million) recently. INM intends to use the net proceeds from the offerings to continue pipeline development of its pharmaceutical drug candidates, support commercial sales of rare cannabinoids through its subsidiary BayMedica, and for general working capital purposes. It isn’t easy being an early-stage pharma company. While the rewards of developing successful drugs can be extremely lucrative, it is a very expensive process. Investors should be relieved to [read]( that INM reported that the “recent financing further strengthens our balance sheet and provides additional financial stability in a particularly challenging capital markets environment. These additional funds extend our cash runway into calendar 3Q 2024." It is not always guaranteed that a small company will be able to raise the funds they need to sustain its operations. It is great to hear that INM has secured what they anticipate is needed well into next year. With the finances in order, a leading Alzheimer's disease drug candidate, and a host of bullish technical indicators — you can see why I think it is so important to pull INM up right away. At the price this stock is trading at right now, it would be foolish not to at least give it a look. Just a small movement in the price could lead to a huge percentage move from this level. As always, it is very important for you to do your own due diligence on any investment you are thinking of making. I suggest that you thoroughly research this stock, and there is no better place to start than with the [company’s website](. For such a small company, I see so much potential here. Make sure you check this out and get it on your radar immediately! *This investment involves substantial risk. Please see full disclosure below, and detailed discussion of risks and atypical results. 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