BENF price move is an overreaction to news; suitable for day trading but not owning due to weak fundamentals.

Okay, this is Beneficent. Beneficent shares are trading higher after the company announced a strategy to eliminate HCLP debt and heapner equity interest.

the elimination of the contested HCLP debt including approximately 180 or excuse me 130 million in principal and acred interest the conversion and exchange of all of the Heapner equity interest including the preferred equity that's up to 850 million and the termination or avoiding of all remaining contractual arrangements involving Hepner or its affiliated entities that's going to be approximately 88 million.

Yeah. And and it's wild to me because this thing has a market cap of 8.3 million. Uh you look at the financials of this and their balance sheet looks horrible. Um so this is I think this really does help clean that uh uh that outstanding debt they have up.

Um but you know I I would I would you know maybe this starts trading better afterwards because I I think that's a good portion of their debt that that is uh getting wiped out. Um they do have uh revenue.

Um looks like it's you know sometimes they lose money, sometimes they make money. Um it's it it's might be make for a great day trade, but I think uh this isn't one I I would want to own either way just because they they still have some work to do it looks like to me.

This to me seems like an overreaction to the headline. Well, I don't know if it's an overreaction. If we're talking about them wiping out most of their debt to where their balance sheet actually could, you know, maybe flip positive, uh, I don't know if that's going to happen.

I think the case that I'm just making stock was 54 cents yesterday. It's up nearly 300% today. And and I think it's just one of these that's going to uh move on on the headline and and on you know some of the news and uh because it has a low float.

I mean the float that I see here in my broker is 2.28 million uh 2.23 here in Pro. So, uh, this could get pushed around and right now it's trying to recapture a, uh, a key, uh, level of of 215.

Uh, that was, uh, support earlier this morning and then we lost that level. It trying to recapture it, uh, you know, ever since. We lost it about 8:45 this morning. So, nearly half an hour ago.

Now, we're trying to recapture that level. And if we uh, do uh, hold this and continue to climb up into the open, I think that we're probably going to see this try to spike up towards 280.

Again, there's a bit of a trend line here that you could draw the uh buy there and through these wicks. It looks like we are trying to uh turn around here. So, if we and we're still uh coming back up higher.

Now, if we can hold this 215 into the open, we might see a pop up to uh maybe at the very least 240 245, but uh let's see what we get here. It's it's still on the move. We might even hit 245 right now.

Yeah. And this actually looks like a really nice curl off the 15 EMA. We'll see what this does leading into the open there.

Okay, we are open here. Ben F went right to three and pulled so far out of the gate. All right, so we got um yeah, BENF that's halted.

Um, we should be getting an uh an unhalt of uh BENF at some point soon, I would think. Uh, let me get that time there for you. Thanks to Benzinga Pro for logging it for me. 9:3034 was your halt time.

So, we'd be looking at 9:3534 is the resumption time or the first one to pay attention to.

Uh, BENF, by the way, that was a a great mention of the 10-minute. Uh, it looks like that unhalted, gapped down, and then halted again. Uh, this is coming into a support area. It looks to me like 220, 225 to be that support.

So, not too far away from it. There are a lot of sellers in this thing. Yeah, it sure is. Just just be careful with this if you are going to uh, you know, be tempted to take a trade in this one.

Um, I think your next support area is not too far away. And uh beneath that looks to me like uh 185 190 is your next support after that before we see an even more significant fall.

Just an update on some of these other names we were looking at. Uh BENF now halted for the third time to the downside after unhalting and uh gapping down again. Uh so now we're beneath one area of support.

Next area is going to be down around 185. Uh, and after that, uh, I would be leaning on the, uh, the 150 to 65, the 150 area to the 65 EMA. Uh, that's what looks like is, uh, next after the 185 support.

BENF uh today's halt fest and looks like it's trying to turn around here making its way back up towards VWAP. uh you know through halts. Unfortunately, if this uh does unhalt and uh pop up, you're going to probably find some resistance just over uh $2, maybe 222 where the VWAP is.

Uh so that's uh the next thing I'd be watching for here with BENF once we finally unhaul from this current one we're in.

Which one? Wheeler. Wheeler. Yeah, just it's added a lot of good setups here. So, BENF that unhalted, went lower, and now it's halted again. Bad day for BENF.

We'll see if these have any staying power, but uh it's looking and even BENF that looks like we this move down to the 65 EMA may have caused a reversal. It's a pretty interesting looking candle that we had there on the the last one minute candle.