US indexes suffered steep declines on Friday. The S&P 500 lost 1.7% on the day, while the Dow tumbled 1.6% and the Nasdaq fell 1.8%. The small-cap Russell 2000 sold off for a 2.5% loss and under-performed its large-cap cohorts. Today, futures are in the red in early morning trading. S&P 500 contracts are down 0.8%. The Best Lithium Stock for Less Than $1 ð An undiscovered lithium stock trading below $0.30 per share just uncovered 8 high-quality targets on unexplored ground.
Drills are turning on later this year, but very few investors know about it yet, so this ground-floor opportunity below $0.30 won't be around much longer. It's a new breed of lithium stock, and shares could be on course to explode. Get the Name and Trading Symbol Here The British pound hit an all-time low against the US dollar as investor confidence in the currency continues to crumble in the wake of recently-announced tax cuts and other fiscal policy moves. Las Vegas Sands [LVS] - Last Close: $35.47 Macaua casino stocks are pushing higher, and LVS is leading the way. Over the weekend, the CEO of China's special administrative region in Macau announced plans to resume the issuance of e-visas and group tours for mainland travelers. According to the statement, the government hopes to implement the measures by the end of Oct. or early Nov. News of loosening travel restrictions sparked a run-up in casino stocks with a presence in the region, including Wynn Resorts, MGM, and others. But, LVS is currently the group's top performer. It's currently the best-performing S&P 500 stock, with a 6.4% gain. My Take: Macau is a massive growth engine for these major US casino operators. News that the region is reopening is a potentially bullish signal for these stocks. Enveric Bioscience [ENVB] - Last Close: $4.54 Enveric Bio is moving higher after it filled a key executive vacancy. An SEC Form 3 filing dated Sept. 9th was disclosed to the public on Friday, revealing that Enveric had appointed a new interim CFO. According to the filling, Robert Dickey IV has been appointed as the company's interim chief financial officer. The company also released several other regulatory filings pertaining to its annual shareholder meeting and the appointment of a new accounting firm. ENVB is one of today's top movers with an 18.3% gain. My Take: CFO is a key role, so it's definitely good news that ENVB found itself a qualified executive to take the roll. However, the rally seems a little overdone, and ENVB has a short rate of 5.7%, so there might be other forces at work here. Tuesday Morning Corp. [TUEM] - Last Close: $0.14 Tuesday Morning is trending on strong earnings data. The off-price retailer unveiled its fiscal Q4 and full-year 2022 results on Friday morning, and the results were somewhat mixed. Tuesday Morning's fiscal Q4 EPS came in at (-$0.36) and beat the Street's (-$0.36) estimate. However, revenues were down $15.34 million from the same time last year, and the company's comparable sales were down by 8.0%. The news sparked a 6.6% decline in TUEM shares on Friday, but the stock is rebounding today. TUEM is showing a 13.4% gain in today's premarket. My Take: This stock only has a $12 million market cap, so it can be pretty volatile when major news breaks. However, Friday's earnings report wasn't good, so I don't think this rally will last. Lipocine [LPCN] - Last Close: $0.4965 Lipocine is moving higher as investors anticipate an upcoming announcement. The clinical-stage biopharma firm is trending ahead of an upcoming presentation at a key industry conference. Lipocine announced last Thursday that it would present at the Ladenburg Thalmann 2022 Healthcare Conference on Sept. 29th in New York. The event is coming up this Thursday, and investors are buying the stock in anticipation of a potential catalyst. LPCN is one of today's top performers with a 23.3% gain. My Take: LPCN is a small-cap stock with a small float, so it's hard to tell whether this move is related to the upcoming presentation or if it's just targeted price manipulation. I would sit back and observe some before jumping on this bandwagon. |