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Bull Notes Keep Coming After FTSV Stock's Absurd Rally

FTSV stock has surged since the ASH meeting

Dec 11, 2019 at 9:59 AM
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Clinical stage immuno-oncology name Forty Seven Inc (NASDAQ:FTSV) has exploded this week, rising from Friday's close of $14.44 to settle at $34.66 yesterday, thanks to a well-received showing at the American Society of Hematology's (ASH) annual meeting (see the company's presentation here). This recent surge is just an acceleration of previously strong price action in FTSV stock, which began to rise after flirting with the $6 area in October. Overall, the drugmaker has gained over 500% since its October low of $5.53, based on today's price of $34.20.

A number of analysts hiked their price targets on Forty Seven stock this week, including Guggenheim's note this morning. The brokerage firm lifted its price target to $48 from $20, expecting even more upside for the shares. All seven covering brokerage firms recommend buying the stock.

Not everyone is bullish, however, as short interest has continued to rise. In the last two reporting periods, short interest increased by 12.3%, putting 9.4 days' worth of buying power into short sellers' hands, based on average daily trading volumes.

 

AI has exploded ever since ChatGPT set the world on fire near the end of 2022.

Numerous companies with connections to artificial intelligence have seen their stocks soar.

That includes Nvidia, the poster boy of AI.

Its stock has skyrocketed 716% since ChatGPT’s debut. But here’s the thing …

While everyone’s still counting their money from this first AI boom … Nvidia and countless others have moved on to the next stage.

That includes Big Tech, which is currently making a series of peculiar investments in a few strange companies. This has nothing to do with tech. At least on the surface …

Yet, these strange investments could be the early ripples of a massive wave …Without them, ChatGPT could stop operating … Amazon, Google, Microsoft and more could see profits drop drastically.

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Now, Silicon Valley legend Michael Robinson has identified two companies that could play a significant role in the solution.

Their stocks just may be the key to AI 2.0.

Find out more about these two companies today.
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