| | | June 16, 2022 Hey traders! It's Michael here with the BRAND NEW Stock Dork Premarket Report, your go-to guide for the day's biggest trading news and hottest premarket stocks! Today is Thursday, June 16th. Let's get ready to trade! |
The Fed's announcement of a 0.75% rate hike on Wednesday powered the S&P 500 to a 1.5% gain on the session. The tech-heavy Nasdaq performed even better with a 2.5% gain, and the Dow added 1.0%. The small-cap Russell 2K gained 1.4% on the session. Today, futures are pointing to sharp losses in today's trading session. S&P 500 contracts are showing a whopping 2.2% decline ahead of the opening bell. Heart Test Laboratories [HSCS] - Last Close: $1.70 Heart Test Laboratories is breaking out one day after its IPO debut.
The high-tech medical device stock completed its IPO on Wednesday, and it debuted to sharp losses. HSCS closed the session with a 60% loss in a trading session that was overshadowed by the Fed's announcement of a 0.75% rate hike. HSCS was priced at $3.75, but it quickly fell after opening for public trading. It closed at $1.70, but it recaptured a large chunk of its lost ground thanks to a sharp rebound rally in today's premarket. Today, HSCS is up 91.2% ahead of the open, and shares are trading for $3.25. Our Take: It looks like yesterday's selloff in HSCS was overdone. The stock is still trading below its IPO price point, but it's up nearly double from where it closed yesterday. However, it's unclear how much short-term upside is left in this trade, so be mindful before jumping in head first. Sidus Space Inc [SIDU] - Last Close: $4.68 Sidus Space is running hot after landing a big government contract. Yesterday, the space technology company announced it was selected as a teammate with Raytheon Technologies unit Collins Aerospace to work on a $3.5 billion NASA contract. The exploration extravehicular activity service contract was awarded to Collins Aerospace and Axiom Space, and the teams will make space suits to support the NASA International Space Station and Artemis Program, which will allow humans to explore the moon. The program is expected to run through 2034 under the terms of the 10-year contract, which also includes two option years. SIDU is one of today's most active stocks, and it's up 45.5% on the news. Our Take: Sidus Space could be an interesting stock to watch. It just got a vote of confidence from a major government agency and one of the US's most prestigious military-industrial firms. This stock could have a bright future, and it could generate buyout interest down the road if it keeps landing deals like this. Acorda Therapeutics Inc [ACOR] - Last Close: $0.4004 A key Acorda Therapeutics drug is entering a new market. The biopharma firm is teaming up with Esteve Pharmaceuticals GmbH to launch INBRIJA 33mg in Germany. The drug is approved in the EU for the intermittent treatment of episodic motor fluctuations in adult Parkinson's patients treated with a levodopa/dopa-decarboxylase inhibitor. Under the terms of the distribution and supply deal, Acorda stands to receive a substantial double-digit commission on the selling price of INBRIJA in Germany, plus additional sales-based milestones, in exchange for supplying Esteve with the drug. Acorda expects to start receiving revenues from the deal in the second quarter of 2022. Shares of ACOR are up 64.8% on active trading volume following the announcement. Our Take: This deal could give Acorda a foothold in the European market. If the drug is successful in Germany, you might see other European countries following suit, which could set the stock up for more gains down the road. Electric Last Mile Solutions [ELMS] - Last Close: $0.1408 Traders have locked onto this struggling commercial EV stock. Shares of Electric Last Mile fell 14.7% as the stock continues to struggle in the wake of its bankruptcy announcement earlier this week. However, the stock is rebounding in today's trading session. ELMS is rallying today, despite no news. Traders could be positioning themselves for a potential recovery, or they could just be trying to force a short squeeze in a highly shorted stock for quick gains. Whatever the reason, ELMS is today's most actively traded stock, and it's up 26.1% in today's premarket. Our Take: In its press release announcing its bankruptcy filing, Electric Last Mile blamed a lack of funding for its decision, so there could still be hope for this company. If institutional money sweeps in to rescue the company, there could be a big rally in store for this stock. But, tread lightly because it's risky. |
| Gainers Embark Technology [EMBK] >> +8.1% Lion Group Holding [LGHL] >> +5.7% Redbox Entertainment [RDBX] >> +70.1% Decliners Wheeler REIT [WHLR] >> (46.2%) Cango Inc [CANG] >> (29.3%) AC Immune Ltd [ACIU] >> (25.5%) Kroger Co [KR] ... AM Commercial Metals [CMC] ... AM Jabil [JBL] ... AM Adobe [ADBE] ... PM ProFrac Holding Corp [PFHC] ... PM |
| Weekly Jobless Claims ... 8:30a Building Permits (SAAR) [May] ... 8:30a Housing Starts (SAAR) [May] ... 8:30a |
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