Thursday, October 21, 2021

These 5 Stocks Could Taking Off Today

Today is Wednesday, August 12. The market opened higher yesterday, but all three major indices swung to losses before the session closed. The NASDAQ was the day’s biggest loser with 1.7% decline, while the S&P 500 fell 0.8% to snap a 6-day winning steak. The Dow lost 0.4% on the session.


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Futures are currently pointing towards a higher open for the S&P 500 as stocks attempt to recapture yesterday’s late-afternoon losses. Bond yields have been trending higher over the past week and the gold rally is running out of steam; possibly indicating a sentiment shift away from safe-harbor assets.


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Asian stocks had a mixed overnight performance with Hong Kong’s Hang Seng and Japan’s Nikkei 225 posting modest gains. In Europe, major indices are mostly higher, including the British FTSE 100, despite recent released GDP figures that showed the U.K. economy contracted more than 20% in the second quarter. The Euro Stoxx 600 is up 0.4%.

This morning’s featured earnings slate includes Jumia (JMIA) and AltImmune (ALT). Later, we’ll hear from Cisco (CSCO), Lyft (LYFT), and SmileDirect Club (SDC).

These stocks are trading actively today.

Tesla Motors (TSLA)

The world’s leading EV company announced yesterday that it will enact a 1-for-5 stock split on its outstanding shares. Tesla’s stock is among the highest priced on Wall Street, and the company says it wants to make its shares more accessible to employees and retail investors.

Stock holders of record on Aug 21 will receive four additional shares after the closing bell on August 28, and the stock will trade on a split-adjusted basis beginning August 31.

Tesla is the most active stock in the NASDAQ 100 this morning and it’s currently up 6.7% in extended hours trading.

Moderna (MRNA)

On Tuesday, Moderna announced it had entered into an agreement with the U.S. government for its experimental COVID-19 vaccine. The large-cap biotech firm will receive $1.5 billion in compensation for supplying 100 million doses of the vaccine. Moderna says the government will provide the vaccine free of charge in the U.S., and the government has the option to buy an additional 400 million doses.

Moderna is trading actively on the news and it’s currently up 10.9% in the extended trading session.

Few investors know it even exists, but the low speed electric vehicle industry is projected to be worth $23.9 billion by 2026.

Jumia Technologies (JMIA)

Jumia is selling off in the pre-market after releasing a lackluster Q2 earnings report. Quarterly revenues fell 10% YoY, but the firm’s operating loss narrowed to to EUR37.6 million from EUR66.7 million a year ago. The company says it expects weal revenues to continue for the remainder of the year due to the COVID-19 pandemic.

Shares of JMIA are tanking in the pre-market. The stock is currently down 17.5%.

India Globalization Capital (IGC) 

India Globalization Capital received FDA approval to begin a Phase-1 trials for its experimental Alzheimer’s drug. The investigational treatment addresses patients with severe-to-mild dementia resulting from Alzheimer’s Disease. On Tuesday, the firm said it will begin enrolling patients for a 12-subject safety multiple ascending dose study.

Shares of IGC skyrocketed on the news. There is no known cure or effective treatment for Alzheimer’s-related dementia, so this could be a big deal if the firm gets it right. Shares are currently up 61.0% in the extended-hours trading session.

Cellular Biomedicine Group (CBMG)

This morning, Cellular Biomedicine Group announced plans to take the company private. A group that includes the firm’s CEO and other top management will put up the capital to pay $19.75 per outstanding share. Cellular Biomedicine says it will conduct a 30-day “go-shop” process to possibly solicit other acquisition proposals.

CBMG’s announced buy-out rate represents a 38% premium to the stock’s closing price on Tuesday, and shares are rallying to close the gap. The stock is currently up 35.3% in the pre-market.

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