| | | September 8, 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 Friday! It's September 8th. I hope you have a great weekend.
Now, let's get ready to trade! |
| Most U.S. benchmarks closed Thursday's session lower, but the Dow managed to eke out a 0.1% gain. The Nasdaq lost 0.8%, while the S&P 500 edged lower by 0.3%. The small-cap Russell 2K fell 0.9%. Today, futures are in the red for the fourth time this week. Down and S&P 500 contracts are both down 0.2%. Is This the End of AI? In as little as three months from today, a new Artificial Super Intelligence is set to launch. It's already 54% complete â and moving fast. This new AI could be thousands of times faster than ChatGPT and could push big tech stocks to double or triple over the next few years. Click here to learn how to prepare for what's ahead. ⪠Quiet PremarketNot much to report this morning, but more chatter about Apple's China dilemma, which we already covered in yesterday's newsletter. |
| OKYO Pharma [OKYO] - Last Close: $1.94 A clinical update is boosting shares of OKYO Pharma This morning, the tiny pharma firm said it completed enrollment for a Phase 2 clinical trial of OK-101 to treat dry eye disease. OKYO has enrolled a total of 240 patients for the study since it first began in May of this year. The company expects the last patient visit to occur in the last week of November, and top-line data could be available as soon as December. OKYO is up 22.6% in response to the clinical update. My Take: OKYO could be worth watching as we approach the end of the year. The stock could get another big boost in December if the final trial data supports an approval of OK-101. Plus Therapeutics [PSTV] - Last Close: $2.97 Plus Therapeutics just landed a promising deal.
This morning, the biotech firm said it entered into an exclusive license agreement for Biocept's CNSide CF-based tumor cell capture & enumeration platform. Plus Therapeutics noted that it had positive experiences using CNSide during drug trials, and it believes the technology has "significant diagnostic potential." Biocept will receive $150,000 worth of PSTV common stock in exchange for the license, and the deal also includes a $1 million licensing option. PSTV is up 15.8% on elevated trading volume in response to the news. My Take: PSTV has struggled to pass the $3 mark, but this rally could give it the final push it needs to break into a new trading range. Zyversa Therapeutics [ZVSA] - Last Close: $0.1229 Zyversa is taking off after an upbeat analyst note. Analysts at HC Wainwright initiated coverage on the micro-float this morning with a "buy" rating and a $2.50 price target. The bullish price target is more than 20-times the stock's Thursday closing price. ZVSA took off as soon as the note hit the market. Shares are currently up 44.0% on active trading volume. My Take: This has been a very volatile rally, so I wouldn't be surprised if most of ZVSA's gains evaporated before the end of today's trading session. AGBA Group [AGBA] - Last Close: $0.709 AGBA Group is treding after landing a major institutional investment. After Thursday's close, the Hong Kong-based financial services firm announced a $50 million equity purchase agreement with Williamsburg Ventures Holdings. Under the agreement, Williamsburg will invest $50 million into ordinary shares of AGBA over the next 36 months. AGBA says the equity facility will "enhance [its] capitalization and financing flexibility" and enhance shareholder value. AGBA is one of today's top premarket performers with a 36.8% gain on active trading volume. My Take: AGBA's chart is pretty ugly, and China stocks are almost always unpredictable. Approach with caution. GainersImpel Neuropharma [IMPL] >> +30.3%EZGO Technologies [EZGO] >> +18.8%Shuttle Pharma [SHPH] >> +22.1%Revelation Bio [REVB] >> +12.6%DeclinersGrom Social [GROM] >> (34.8%) Kaixin Auto [KXIN] >> (17.9%)Karat Packaging [KRT] >> (17.2%)Rosecliff Acquisition [RCLF] >> (15.4%) Kroger Company (The) [KR] ... AM
Naas Technology Inc. Dr [NAAS] ... AM
Hooker Furnishings Corporation [HOFT] ... AM
Rent The Runway, Inc. [RENT] ... AM Wholesale inventories [Jul] ... 10:00a Consumer credit [Jul] ... 3:00p |
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