Reborn Coffee shares surge 13.07% premarket after announcing $1.7M master license deal with Arjomand Group for Middle East and Europe expansion.

think> Okay, let's tackle this query. The user wants me to act as a financial analyst explaining the stock price movement of Reborn Coffee. The stock went up 13.07% in premarket trading. I need to look at the recent news events to find the cause. First, I'll check the news provided. The most recent news is from July 16, 2025, about Reborn Coffee forming a new advisory board with Elkoustaf as chair. But there's also a news item from the same date about securing a $1.7M master license deal with Arjomand Group for expansion into the Middle East and Europe. That seems significant. Looking further back, there are several positive developments like partnerships with Tori AI, Otonomus Hotel for AI drive-thru, matcha supply partnerships, and new franchise commitments. However, the latest news on July 16th mentions both the advisory board and the licensing deal. The user's input lists "Reason 1" as the formation of the advisory board. But the stock is up in premarket, which is before the open, so the most recent news that could have impacted premarket trading would be the one released closest to that time. Wait, the dates on the news go up to July 16, 2025, and the stock performance is mentioned as of July 20, 2025. So the most recent news before the premarket move would be the July 16th announcements. The key ones here are the advisory board formation and the $1.7M licensing deal. Which of these is more likely to drive a 13% jump? Forming an advisory board can signal strategic direction and credibility, but a concrete financial deal like a $1.7M licensing agreement might have a more immediate impact. However, the user's input lists the advisory board as Reason 1. But the example given in the instructions focused on a specific project announcement. I need to check if the advisory board appointment is the primary reason mentioned. The user's input under Recent News Events has "Reason 1" as the advisory board formation. However, the actual news items include both the advisory board and the licensing deal. Since the user specified "Reason 1" as the first reason, but the stock movement is in premarket, I need to see which news was released before the premarket session. Assuming that the July 16 news includes both the advisory board and the licensing deal, but the user's input lists the advisory board first. However, the example in the instructions emphasizes the most impactful news. The $1.7M deal is a concrete financial commitment which could lead to expansion, so that might be more impactful. Wait, the user's input under Recent News Events lists "Reason 1" as the advisory board formation. But looking at the actual news items, the one about the $1.7M licensing deal is also from July 16. Which one is more relevant? The example given by the user in the instructions focused on a specific project agreement. Since the user's input includes the advisory board as the first reason, but the licensing deal is another significant event, I need to check which one is the most recent and relevant. However, the user's input might have a typo or formatting issue. The first line under Recent News Events says "Reason 1: title: REBN News Today | Why did Reborn Coffee stock go up ..." with the summary about forming an advisory board and appointing Elkoustaf. Then the content mentions extended trading and a fair market value price. But the actual news items listed include the advisory board and the licensing deal. Since the user's input lists the advisory board as Reason 1, but the stock is up in premarket, which is before the market opens, perhaps the news about the advisory board was released after market close but before premarket trading. However, premarket trading can be affected by news released during after-hours. Given that the user's input specifies "Reason 1" as the advisory board formation, and the stock is up in premarket, the most logical connection is that the advisory board appointment is the cause. However, the $1.7M licensing deal is also a major event. But the user's example in the instructions focused on a specific project agreement. Therefore, if the advisory board formation is the primary reason cited by the user, even if there's another significant news, I should follow the user's input. However, looking at the actual news items, the licensing deal is a $1.7M deal which is a concrete financial event. Wait, the user's input under Recent News Events has "Reason 1" as the advisory board, but in the actual news, the licensing deal is also present. The user might have formatted it incorrectly. The first line under Recent News Events is labeled as "Reason 1" but seems to.