STOCKS TELEGRAPH

Category: Featured

  • 9 Meters Biopharma [NMTR] Breaks Monthly Resistance – Is A Rally Beckoning?

    9 Meters Biopharma [NMTR] Breaks Monthly Resistance – Is A Rally Beckoning?

    9 Meters Biopharma [NASDAQ: NMTR] is showing some interesting price action. Yesterday, the stock gapped up and pushed through monthly support at $0.80. This price action came just a day after the company was highlighted at the Truist Securities Catalyst conference call. The conference call touched on preliminary phase 1 /2 data from short bowel syndrome that is expected in the second half of 2020. The highlight points to the progress that 9 Meters has made in the quest for a treatment for short bowel syndrome.

    It also comes just a week after 9 Meters had provided an update on its treatment for the problem. In its update, the company stated that it had kick-started phase 1 ./2b clinical trial for its treatment adding that the first patients had been given a dose of the trial treatment in July, with the results expected in Q1 of 2021.

    The company also stated that it had amended how it was defining the primary endpoint for its phase 3 trial for its celiac disease treatment.  It added that the amendment allowed for a reduction in the number of participants to 525 from the previous 630.  The update also highlighted that the company was anticipating multiple inflection points all through the next 18 months. While providing the update, CEO John Temperato stated that the company’s advances at the clinical trials have been good and that they were happy with the team.

     What next?

    The stock has gained upside momentum after the release of this update indicating that investors are confident that the treatments could turn successful.  The excitement around this potential could see the stock keep gaining all through the year. Positive results from the trial in Q1 of 2021 could see the stock gain even further.

    Besides, the excitement around the trials, there are several other factors that could see this stock keep gaining in value in the near-term.  One of them is that it has the finances to see its treatments succeed. The company recently gave an update for Q2 and stated that in the quarter, its cash and cash equivalents stood at $13.5 million. This was a significant increase compared to Q1 when it’s cash and cash equivalents stood at $2.7 million.  The company’s capability to see its programs through instills confidence in investors and could help support the price in the near-term.

    Besides these internal factors, the markets have rebound despite the COVID-19 pandemic. There is lots of optimism that a COVID-19 vaccine could be available by the end of the year. Such a development could see NMTR, with all the positive vibe around it, gain all through the year.

    About 9 Meters Biopharma

    9 Meters Biopharma is a Biopharmaceutical Company that develops treatments for rare disorders. It is headquartered in Raleigh, North Carolina.

  • Stocks to Watch as Market Sentiment Points to a Strong Day

    Stocks to Watch as Market Sentiment Points to a Strong Day

    The markets have started the day in positive territory, and the S&P 500 is trading close to record highs. This comes amidst rising optimism that a COVID-19 vaccine is close. There is also the fact that market dynamics point to economic resilience despite the pandemic.

    The markets are also looking forward to a host of economic data both on the economy and company earnings. On the economic front, some of the key data that the market is awaiting is on the home sales report and the FOMC minutes for the July meeting.

    Home sales are largely expected to be high due to the low-interest rates environment that has prevailed for some time now. Looking into individual, stocks, companies that have announced strong quarterly earnings have shown the most potential pre-market, are likely to remain strong all through the day. Some of the biggest gainers this morning that are likely to remain strong all through the day are as below:

    Comstock Mining Inc [NYSE: LODE]

    Comstock was gaining upside momentum all through pre-market trading, and at one point was up by 86%. The rally follows the company’s release of strong Q2 results. The company reported a net income of $1.3 million, which represents an income of $0.05 per share. It’s significantly higher than the loss of $2.1 million that it reported in Q2 of 2019.

    The company also reported a number of strategic moves that it made in the quarter. Some of them include investments in multiple high potential companies. For instance, the company made investments in Tonogold Resources Inc and Mercury Clean Up LLC. The company also announced that it had made a strategic decision to sell non-mining properties in Silver Springs. Given that Q2 has been difficult for a lot of companies, the swing to profitability points to fundamental strength, and could see LODE  emerge as one of the day’s top gainers.

    LMP Automotive Holdings Inc [NASDAQ: LMPX]

    LMP Automotive Holdings Inc was up by 50% in pre-market trading and looks set to extend those gains in the day. Its bullish price momentum follows last week’s announcement of strong Q2 results. The company announced that quarterly revenues grew by 44% to stand at $7.7 million. The company also reported that gross profits for the quarter increased by 85% to stand at $1.5 million.

    The company’s cash position was also stable in Q2, closing the quarter with a cash position of $17.7 million. CEO, Sam Tawfik stated that the numbers were a reflection of the huge opportunity that exists in the industry. With such prospects for good performance in the near-term, this stock could remain strong today, and in the foreseeable future.

     

     

  • Best Performing Stocks as Dow Leads Market Rally

    Best Performing Stocks as Dow Leads Market Rally

    The markets are in the green this afternoon with the Dow adding 200 points to make it the day’s top performer. The NASDAQ and the S&P 500 are in the green too, gaining by 142 points and 23 points respectively. The Dow’s exceptional performance is largely driven by Microsoft, which has rallied on Tiktok buyout news. Markets have also been revamped by expectations of strong earnings from major corporations, and the continuing talks between democrats and republicans over the next stimulus package.

    While there is a huge gap between what the two sides want from a stimulus, the markets are optimistic that middle ground will be found and resuscitate the economy beaten up by the COVID-19 pandemic. In this environment of high optimism, stocks are rallying, and some of the best performers this afternoon are as below:

    Datasea Inc [NASDAQ:DTSS]

    Datasea is one of the best performers this afternoon and is up by over 60%. The stock’s huge gains come after it announced that it had entered into an agreement with Beijing Tengyuenjunjie Parking Management for the installation of its control system in Nanaipingzhung Beixiang, a residential area in Beijing. The engagement has a value of $7800 and will run for three years. Through this deal, Dataset will handle the hardware, software, and installations. Commenting on the deal, CEO Liu Zhixin stated that the city of Beijing has more than 21 million inhabitants and over 6000 communities in residential setups. He added that in the long run, the company was looking to capture a significant portion of this market using its proprietary technologies.  This news plus the overall positive sentiment in the market has seen this stock rally and is likely to close the day with significant gains.

    ADT Inc [NYSE:ADT]

    ADT Inc is another top performer this afternoon and is up by 60%. These gains follow news that Google was buying a $450 million stake in the company. Through the deal, Google will have a 6.6% stake in the company. At the moment, ADT is the biggest home security company in the United States and has over 6 million customers. Commenting on the deal, ADT CEO Jim DeVries stated that the partnership with Google as part of the company’s move to stop pursuing a strategy of product agnosticism. He added that the company would integrate Amazon’s product, Alexa, into its systems if the market demands it.

    Pitney Bowes Inc [NYSE:PBI]

    Pitney Bowes Inc is another top performer this afternoon and is up by over 40%. This comes after the company announced that it had secured a government contract worth $5 million for its shipping and mailing technology. The government agency will benefit through cost-savings and a higher level of efficiency. CEO, Jason Dies stated that the company was happy to be part of the transformation process to make the government more efficient.