| | | September 18, 2023 Hey traders! It's Michael here with the Stock Dork Cheat Sheet: Premarket Report, your go-to guide for the day's biggest trading news and hottest premarket stocks! Happy Monday! It's September 18th. I hope you had a great weekend. Now, let's get ready to trade! |
| Stocks sold off on Friday, with the Nasdaq's 1.5% decline leading the way. The S&P 500 fell 1.2%, and the Dow outperformed with only a 0.8% loss, while the small-cap Russell 2K lost 1.0%. Today, S&P 500 futures are sitting close to flat in early-morning trading. Forget 99.987% of Stocks (Use This ONE Instead) A strange market force studied by the likes of Harvard University, the Federal Reserve and the Securities and Exchange Commission has shown the opportunity to make profits of 141%, 333% and even a rare 2,614% in under 11 days... With just ONE ticker! See how to make massive profits with just ONE stock 🛢 Crude Oil Pushes Towards $100 MarkRecent production cuts from OPEC+ countries like Saudi Arabia and Russia have wreaked havoc on the international crude oil market. Crude prices jumped 25% in the third quarter, largely due to the production cuts, and several countries recently announce plans to maintain the cuts for the foreseeable future. Brent Crude Oil, the international benchmark, is up 0.4% in early trading today, hovering around $94 per barrel. If prices continue to climb at the same rate we saw in Q3, it's likely we'll see $100+ barrels by the end of the year, and it could be a major headwind in the inflation fight. |
| SeqLL [SQL] - Last Close: $13.24 SeqLL is gaining in the wake of an announcement. In Friday's aftermarket, the company said its board of directors set Sept. 26th as the record date for its special stock and cash dividends announced on May 29th. The size of the cash dividend will be determined based on the closing of the transactions named in the merger agreement. How many shares will be issued in the stock dividend will be determined based on the market price of SQL prior to the closing under the Merger Agreement. No fractional shares will be distributed in the stock dividend. SQL is up 72.5% in today's premarket. My Take: Sounds like IOVA's lifileucel therapy is a shoo-in for FDA approval. This stock has gotten killed lately, but this could be a set-up for a rally down the road. RedHill Biopharma ADR [RDHL] - Last Close: $0.85 RedHill Bio is up after an FDA decision. This morning, the tiny biotech said the FDA approved its supplemental new drug application for talicia to eliminate Helicobacter pylori bacterial infection. The approval changes the dosing regiment to a three-times daily, instead of the previously authorized regimen of every eight hours with food. RedHill hopes the new dosing routine will assist in patient adherence. Shares of RDHL are up 23.5% on active premarket trading volume. My Take: Not exactly a game-changing regulatory ruling, but definitely a positive development for the tiny biotech. However, RDHL's chart is ugly, so I wouldn't treat this like anything more than a speculative, long-shot biotech play. Tracon Pharmaceuticals [TCON] - Last Close: $0.254 Upbeat drug data is boosting shares of Tracon Pharma. This morning, the company unveiled positive data from an ENVASARC Phase 2 pivotal trial and announced the trial will continue as planned. After an independent data monitoring committee review, evaluators found the treatment satisfied the "futility threshold" for only 3 responses out of 26. “Envafolimab continues to demonstrate durable single agent activity and has been generally well tolerated,” said TRACON’s Chief Medical Officer. CEO Charles Theuer added, “We continue to believe that these data position envafolimab to become a potentially compelling treatment option for patients...” TCON is up 21.6% in early trading. My Take: TCON has a long way to go to get back to its 52-week high of $2.19 per share, but it's become a battleground stock over the past couple of months. I would want to see more evidence of a sustainable positive trend before pulling the trigger on this one. T2 Biosystems [TTOO] - Last Close: $0.2772 T2 Bio is riding high after an SEC filing. The tiny biotech filed a Form EFFECT this morning, officially launching a previously-announced registration statement from Aug. 24th. The registration statement calls for the selling of common and preferred stock from "certain selling shareholders." Altogether, 141.6 million shares are up for grabs. TTOO is up 37.8%, and it's one of this morning's most active stocks. My Take: I'm not sure why the market is so excited about TTOO's filing. Its 8.66% short ratio as of Aug. 31st could have something to do with the sudden, unexpected move. GainersScworx [WORX] >> +56.0%Sentage [SNTG] >> +36.3%Mira Pharma [MIRA] >> +19.8%Perspective Therapeutics [CATX] >> +36.5%DeclinersEarlyworks [ELWS] >> (34.1%) MSP Recovery [LIFW] >> (23.5%)STRATA Skin Sciences [SSKN] >> (24.9%)AgriFORCE Growing [AGRI] >> (22.3%) Stitch Fix, Inc. [SFIX] ... PM Investcorp Credit Management [ICMB] ... PM Home builder confidence index [Sep] ... 10:00a |
| Thanks for reading! Don't forget, I'm always eager to hear from you. Reply to this email with your questions, comments, or general feedback, and I'll get back to you as soon as I can. Wishing you big returns on your investments this week, as always! - Michael "The Stock Dork" Taylor Disclaimer© 2023 TheStockDork.com. All rights reserved. This message was sent by TheStockDork.com and may contain commercial elements such as advertising. Read full terms here. |
|
|
|
| | |
|
