| The S&P 500 gained 0.7% on Thursday, while the Dow and Nasdaq added 0.6%/ The small-cap Russell 2K slightly outperformed its large-cap cohorts with a 0.8% gain.
Today, stock futures are in the rise in early-morning trading. S&P 500 contracts are currently showing a 0.9% gain.
An Up-and-Coming EV Stock with Massive Growth Potential. The hot run in EV stocks is cooling off, but one tiny stock looks like it's the diamond in the rough. This small company is developing innovative battery solutions that could be the key to America's electric vehicle revolution. It's been steadily building momentum as of late, and a big breakout could be right around the corner. Get the Full Story on This Ground-Floor Growth Play Here. European energy ministers have held emergency talks to discuss how to rein in soaring energy costs. Caps on Russian natural gas and producer revenues limits were both discussed as options. The European Central Bank raised rates by 0.75% in its biggest rate hike in 23 years. Charter Communications [CHTR] - Last Close: $395.91 Charter Communications is rebounding after hitting new lows. The broadband and cable company set a new 52-week low of $391.81 in Thursday's session, but shares began to bounce back after the closing bell. On Wednesday, Charter announced its intention to participate in an upcoming Goldman Sachs investor conference, and the news may have also played a role in today's rally. CHTR moved higher through the after-hours session and, now, it's one of the S&P 500's top premarket stocks. CHTR is up 3.2% in today's premarket. My Take: CHTR could be a good deal at this price. However, the stock is locked in a strong downtrend which could be hard to break. Its value stats look good, but short interest is high. InMed Pharmaceuticals [INM] - Last Close: $8.87 InMed Pharma is surging after a recent clinical update. Yesterday, the Vancouver-based pharma firm updated investors on its progress towards a pivotal drug trial. InMed CEO Eric Adams said the company plans to complete enrollment in a Phase 2 clinical program in epidermolysis bullosa by the end of the calendar year. Adams also said the firm will, "continue to advance a preclinical drug candidate in ocular disease and to investigate the utility of proprietary cannabinoid analogs in targeting specific diseases." The CEO also admitted that the timing of revenues from recently-acquired BayMedica's products is highly uncertain, and the company will evaluate whether the project is worth further investment. However, the company continues to explore the use of rare cannabinoids and their analogs to improve neural function and treat neurological disorders. Shares of INM are up 45.3% following the update, making it one of the day's top performers. My Take: It's unclear why this press release has sparked such a strong reaction in the stock. This tiny stock has declined steadily in 2022, but short interest is relatively tame at 1.0%. I don't know if this press release justifies this rally, so be cautious here. Digital Media Solutions [DMS] - Last Close: $1.28 News of a potential buyout deal is skyrocketing Digital Media Soutions. The digital marketing firm announced Thursday evening that it had received an all-cash acquisition offer from Prism Data. Under the terms of the deal,Prism will acquire all outstanding shares of DMS for $2.50 per share in cash. According to a company statement, DMS CEO Joseph Marinucci and COO Fernando Borghese are affiliated with the firm pursuing the deal. Upon closing, Prism Data plans to take Digital Media Solutions private. DMS is one of today's most active stocks, and it's up 60.9%. My Take: There's still potential upside in this trade because DMS hasn't declared whether it will accept the offer. If you think this deal will go through, you could get in at its current price point and ride the upside to $2.50. However, you could face sharp losses if the deal falls through. Swvl Holdings Corp [SWVL] - Last Close: $1.54 Swvl Holdings has officially landed itself on Wall Street's radar. Early this morning, Baird analyst Ben Kallo initiated coverage on the mass-transit ridesharing company with an "outperform" rating and a price target of $8. If he's right, the price target would represent a 419% gain from SWVL's Thursday closing price. Swvl also filed a Form 424B3 with the SEC this morning and disclosed plans to offer a "substantial percentage" of its Class A Ordinary Shares and Warrants will be offered for resale. SWVL is up 20.8% on highly active premarket trading volume. My Take: This tiny, unproven company has struggled since making its market debut in April. The analyst rating is promising, but price targets are often exaggerated. Be careful here because this stock could be very volatile. |
