| Stocks suffered a major setback on Tuesday after July's CPI data sparked a broad selloff in the trading session. The Nasdaq tumbled 5.2%, and the S&P 500 lost 4.3%. The Dow and the small-cap Russell 2K both closed with a 3.9% decline. It was the worst single-day performance for US markets since June 2020. This morning, futures are rebounding from Tuesday's epic selloff. S&P 500 contracts are up 0.4% in the premarket. Lithium Stocks In The Spotlight
An undiscovered lithium stock trading below $0.30 per share just uncovered 8 high-quality targets on unexplored ground.
Drills are turning on later this year, but very few investors know about it yet, so this ground-floor opportunity below $0.30 won't be around much longer. It's a new breed of lithium stock, and shares could be on course to explode. Get the Name and Trading Symbol Here The Intl. Energy Agency says the EU's embargo on Russian oil could cut the country's production by 1.9 million barrels a day when it goes into effect. More than 1,600 merchants including Walmart and Target want U.S. lawmakers to make laws that will break Visa and Mastercard's hold over the credit-card market. L3Harris Technologies [LHX] - Last Close: $226.33 L3hHarris is moving higher ahead of today's open. This morning, analysts from Trading Central announce they had upgraded their rating on this leading LiDAR stock. Trading Central upgraded LHX from "neutral" to "buy," and shares trended on the news. The upgrade has pushed LHX to the top of the S&P 500 in early morning trading. It's currently leading the large-cap index with a 3.0% gain on active volume. My Take: Before you jump in here, you should know that a so-called "death cross" just formed on LHX's chart. That could be a very bad signal of things to come. Make what you will of it, but play it cautiously. Delwinds Insurance Acquisition Corp [DWIN] - Last Close: $8.61 Delwinds Insurance Acquisition Corp is booming on a new agreement.
The SPAC announced today that it had entered into a Forward Share Purchase and Amended Backstop Agreement with Meteora Capital Partners. Under the terms of the deal, Meteora can purchase up to 3 million shares over a period of 15 months following the SPAC's business combination with FOXO Technologies. News of the agreement is pushing DWIN to sharp gains in today's premarket. DWIN is one of this morning's top stocks with an 18.5% gain. My Take: SPACs can be dicey, but this is a good sign. I don't know much about FOXO Technologies, so you might want to look in that. However, I'd be cautious here because SPACs have been performing pretty poorly lately. Kubient Inc [KBNT] - Last Close: $1.20 Kubient Inc is rallying on news of a key regulatory decision. The cloud-based software company announced today that the US Patent and Trademark Office issued a notice of allowance for its Kubient Artificial Intelligence technology to ID and prevent ad fraud. Depending on the date of issuance of the patent, Kubient will have added intellectual property protection through 2039. Kubient says it expects the technology to be the "centerpiece" of the company's M&A strategy as it continues its push to explore strategic alternatives, according to CEO Paul Roberts. News of the patent pushed KBNT to a 23.3% gain in today's premarket. My Take: The patent is good news for KBNT. It sounds like this tech is going to be an integral part of their business going forward. It also sounds like buyout news could be on the horizon, so keep an eye on it. SciSparc Ltd [SPRC] - Last Close: $0.7789 SciSparc is taking off on acquisition news. The clinical-stage pharma firm just announced that it has agreed to acquire Amazon Seller Wellution from Merhavit M.R.M Holding and Management Ltd for $20 million. Wellution sells dozens of hemp-based products on Amazon and offers eight variations of natural hemp candy supplements under two parent Amazon Standard ID Numbers. In total, the brand has 40,000+ reviews on Amazon and most are 4 or 5 stars. The terms of the deal are complicated, but SPRC will pay roughly $20 million to complete the deal. News of the acquisition is lifting SPRC to a 56.6% gain on active volume. My Take: This acquisition could be a big boon for SPRC, but it's a little unclear what it will all add up to for the firm. Either way, SPRC is seeing big gains, but this rally seems a little overdone. Make sure you don't get caught on the wrong side of this one. |
