**About a week ago I posted about** this merger play based on some unusual price action and a review of the charts. We saw a subsequent run from \~$1.85 at the time of the post to a high of $2.32 the next morning followed by some fade to settle into a new base in the $1.50's, holding about 30% higher than the $1.30 bottom a few days before.
**Attached is a quick snapshot** showing several days of higher highs and higher lows. I added some \~$2.05. We had a nice run but the overarching **merger thesis is still very much in play.** This setup looks healthier and more deliberate than last time, a nice, strong uptrend. It looks like a run for a new high is setting up and I think even a failed attempt will still make the $2.30's.
I have to take another close look at the charts and see what needs updating but **here's a quick recap** of what's happening as the backdrop for this price action:
**$BTBD** is a small cap currently pivoting to drone tech. **They are expecting news** regarding **a merger with Aero Velocity,** a company that provides AI-powered UAV services. The merged company will focus on AI Drones and Service Drones.
The **market cap is somewhere between $7M and $9M** and the public **float is a little over 3M.**
The merger looks like good terms. The merged company will keep the Aero Velocity brand so there **could be a ticker-change catalyst** in the future.
**A merger update is expected anytime.** Additional pending catalysts include any of several infrastructure or government contracts, and potential headlines regarding expansion benchmarks.
**So what's going on right now** is we have a low-float getting progressively jiggier in a hot sector that that is painting **a beautiful uptrend on the chart for the last several days.** I'm thinking this is maybe the stage-2 of what's going to be a much larger move but it seems pretty certain it's in the process of another go at a new high.
I'll follow this up after I nosedive the charts for a bit but check it out and if you see the setup put it on watch.
