| POSCO Holdings [PKX] - Last Close: $105.69 POSCO Holdings is trending after an upbeat report. The South Korean steel-maker released its Form 6-K this morning, and the report included some notable bright spots.
POSCO noted 3.6% revenue growth in the second quarter, and its operating profits jumped by a staggering 85.7%.
The company's numbers were still down compared to the previous year, but its quarterly trends appear to be headed in the right direction. PKX is one of today's top stocks with a 17.5% gain. My Take: PKX has been on a tear lately. It was trading for about $76 at the start of July, and it's been shooting higher ever since. If it can maintain this momentum, there's no telling where the rally will stop. AMC Entertainment [AMC] - Last Close: $4.40 ð AMC is ripping higher in response to a court ruling. The movie theater meme stock soared after a Delaware court ruled against a settlement proposed by the company. The proposal would've converted AMC's preferred shares trading under APE into common shares and implemented a 10-for-1 reverse split. Many shareholders objected to this proposal, and the court's decision came after lengthy litigation between the company and its investors. AMC says it might not be able to stave off bankruptcy now that the proposal has been shut down. For whatever reason, shares of AMC are soaring on this news. It's up 39.7% in the premarket, and it's this morning's top stock. My Take: This looks like another meme stock rally for AMC. With a 28.7% short rate as of the end of June, the move could be partially due to short squeeze buying pressures too. Tupperware Brands [TUP] - Last Close: $0.90 ð Tupperware Brands is also moving higher this morning. The legacy food storage products company is one of today's top stocks despite no major announcements. However, Tupperware's elevated short ratio, which was at 23.3% as of June 30th, can likely explain the sudden move. TUP is up 23.3% in today's premarket. My Take: Is TUP a new meme stock? I assume this is some kind of coordinated short squeeze. TUP jumped 35.2% on Friday, and it appears to be maintaining its momentum through today's premarket. Quince Therapeutics [QNCX] - Last Close: $1.58 Quince Therapeutics just announced a major deal. The biotech company has agreed to acquire privately-held EryDel SpA and its drug assets in a $485 million stock-for-stock exchange. Under the terms of the deal, EryDel shareholders will own a max of roughly 16.7% of the newly combined company. The deal also includes millions in developmental and commercial milestone payments. QNCX is up 11.3% on news of the acquisition. My Take: QNCX has been running up against stiff resistance at the $1.75 mark, but this rally could help it break through. GainersChicken Soup for the Soul [CSSEL] >> +12.2%Koss Corp [KOSS] >> +11.9%NeoVolta [NEOV] >> +13.9%Syndax Pharma [SNDX] >> +13.8%DeclinersKodiak Sciences [KOD] >> (52.5%) Appharvest [APPH] >> (37.3%)Infinity [INFI] >> (32.2%)22nd Century [XXII] >> (20.4%) Domino's Pizza Inc [DPZ] ... AM
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