The Stock Market Conquerors and the Defeated from June 10 to 14
With zero brokerage trading and other such features offered by online trading brokerages, the stock market is a lot more accessible. Let’s examine how the stock market behaved towards stocks from the 10th to 14th of June, 2019.
- Sonar manufacturer Coda Octopus Group Inc ($CODA) registered a Strong Buy on TradingView.com on account of its 45.83% growth, to hit $14.16. This amazing growth was no surprise, considering that Coda was one of the stars of the week. It reported a revenue increase of 92% in Q2, and the resultant profit worth $2 million! The company’s 3D real-time sonar tech is clearly benefiting various governmental organizations and oil companies. CEO Annmarie Gayle reports that there are still many patents the company has filed.
- Internet security solutions provider MMTecInc ($MTC) was given a Buy rating by TradingView, with its 36.15% growth to $7.57. CemtrexInc ($CETX) soared 33.93% and was given a Buy rating, having touched $3. The shares popped on Thursday, June 13 on a reverse stock split of 8:1, shifting from an earlier announced 6:1 split. It helped the stock to comply with Nasdaq’s requirement for the minimum average closing price. With the split, its share price has been climbing.
- Over at the S&P 500, American Airlines Group Inc ($AAL) rose 6.40% to $33.09. This growth was the result of a report that claimed American Airlines had successfully carried out domestic fare increases recently. That gave people greater confidence to invest in this sector, though there are still doubts persisting regarding demand.
- CF Industries Holdings Inc($CF) rose 4.71% to $45.14. It is considered a stock to watch with its growth. It has a one year price forecast of $50.17 per share. Walt Disney Co ($DIS) had a 4.44% growth to $141.74. But the stock’s future outlook is a bit uncertain as per analysis.
- Pharmaceutical company SavaraInc ($SVRA) had a Strong Sell after the stock sank a massive 75.21% to $2.62. Blame it on the company’s pipeline drug Molgradex that failed to reach its targets in a phase 3 study. Molgradex is being developed to treat the rare lung condition called autoimmune alveolar pulmonary proteinosis (aPAP).
- Arcadia Biosciences Inc ($RKDA) slipped 31.81% to $4.03 and earned a Sell rating. This slump was a reaction to the company directly selling 1.5 million common shares at a price of $5.035 per share to some investors. Buyers will also get 5 ½-year unregistered warrants to buy common $5-worth shares up to the same number.
- Hemispherx Biopharma Inc ($HEB) dropped 20.86% to $5.35 and a Sell rating. This was after the stock shot 18% as a result of the reverse stock split.
- In the S&P 500, Monster Beverage Corp ($MNST) had a 5.43% dip to $60.60. Remember, the company announced that it was considering expanding to alcoholic drinks and cannabis beverages.
- Twitter Inc ($TWTR) sank 3.07% to $36.34. The stock broke down after an analyst https://www.investopedia.com/twitter-stock-breaks-down-after-analyst-comments-4690503 financial results in the second quarter to be “soft”, lowering his price target to $25.00 per share from $28.00.
- Eli Lilly & Co ($LLY) and Alexion Pharmaceuticals Inc ($ALXN) sank 2.97% and 2.83% respectively to $111.82 and $117.24 respectively.
- Pharmaceutical company Eli Lilly missed investor expectations of its diabetes drug Trulicity’s randomized control trial. The test only proved the capability of Trulicity to reduce cardiovascular event risks in patients having Type 2 diabetes by 12%, while investors had expected a 20% reduction.
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