STOCKS TELEGRAPH

Tag: NASDAQ: GRIL

  • Top Stocks to Watch as Rising COVID-19 Numbers Tank Markets

    Top Stocks to Watch as Rising COVID-19 Numbers Tank Markets

    The markets are down this morning with the NASDAQ, the S&P 500, and the Dow are all in the red. This follows the increased number of COVID-19 cases and the return of strict lockdown measures. Over the weekend, the number of cases rose to hit a high of 83,757.

    Europe too has seen a huge spike in cases with France leading the way with more than 52,000 cases yesterday. This has seen several countries fall back into lockdowns with Italy and Spain announcing very strict measures. In fact, Spain has already declared a state of emergency.

    With the situation seemingly getting worse, the U.S economy, and the world economy at large is unlikely to reopen to pre-pandemic levels any time soon. On top of that, the number of cases is rising at a time when the U.S is close to an election, and there isn’t a consensus on a stimulus package to support the economy. This uncertainty could see the markets trade in the red for the better part of the day.

    Nonetheless, even as markets show weakness across the globe, there are stocks that are performing quite well today. Most of the day’s biggest gainers are stocks that had some good news towards the end of last week and over the weekend. Some of the stocks doing well pre-market are as below:

    Lianluo Smart Limited [NASDAQ: LLIT]

    Lianluo Smart Limited is a top performer this morning and is up by over 900%. This follows the company’s announcement that it had entered into a merger agreement with Newegg Inc. Under the merger deal, shareholders of Newegg Inc will become the main shareholders of Lianluo Smart Limited. On top of that, LLIT will sell its stake in Lianluo Connection Medical Wearable Device Technology Co. Ltd. On top of that, after the merger, the new entity will carry out a public offering where it expects gross proceeds of $30 million.

    Muscle Maker Inc [NASDAQ: GRIL]

    Muscle Maker Inc is a top performer this morning and is up by over 80%. This follows the company’s announcement the acquisition of a previously franchisee-owned location in Chelsea in Manhattan. This is one of the busiest locations and generated over $1.1 million in revenues in 2019.  As such, the acquisition gives muscle maker a chance to grow its business and test products in the market.

    Smart Sand Inc [NASDAQ: SND]

    Smart Sand Inc is up pre-market by over 30%. This follows the company’s announcement that it would release of Q3 results on November 9th, 2020. The expectation of positive results has seen the stock continue to gain.

  • Top Performers Braving the Mixed Market Sentiment

    Top Performers Braving the Mixed Market Sentiment

    It’s a mixed afternoon in the stock markets after retail data missed estimates. The consensus was that the retail sales would rise by 2.1% in July, but the numbers came back at 1.2%. This shows that the economy is still weak and may be in need of another bailout. However, there is optimism that the numbers also point to resilience given that money from the previous bailout is already spent. Economists believe that the numbers could point to recovery and that August could post even better numbers.  Despite the optimism, there are concerns that the market could be hurt by the fact that Congress is going into recess without a deal on the bailout. Failure to clinch a deal creates additional risks to the economy. In this environment of mixed sentiment, there are stocks that are outperforming the market. Some of the top performers this afternoon are:

    Sky Solar Holdings Ltd [NASDAQ: SKYS]

    Sky Solar Holdings Ltd is a top performer this afternoon and is up by 37.42%. This follows the company’s announcement of a Cayman Court Decision that was entered on the 30th of July, 2020.  The company also announced that yesterday, it had filed a complaint against Hudson Solar Cayman in the supreme court of New York. The company’s lawsuit wants a declaratory judgment on some of the aspects of the allegations by Hudson. The massive jump in value shows that investors are happy with the events that have transpired so far.

    Mesoblast Limited [NASDAQ: MESO]

    This is another big gainer this afternoon and is up by 46%. The stock’s rally follows news that the US FDA committee had voted 9:1 in support of Remestemcel-L in children that are suffering from Steroid Refractory Acute Graft Versus Host.  The company’s CEO, Dr. Fred Grossman stated that the treatment of Steroid-Refractory Acute Graft Versus Host was of utmost importance especially in kids below the age of 12. He added that the company was happy with the latest developments and that it was committed to an even closer working relationship with the FDA, as they review the treatment.  According to Dr. Joanne Kurtzberg, a professional of pediatrics at the Duke University Medical Center, the disease currently has no FDA-approved treatments.

    Muscle Maker Inc. [NASDAQ: GRIL]

    Muscle Maker Inc.is gaining this afternoon and is currently up by 15%. This follows the company’s announcement that it had started construction at four locations.  The construction will happen at 4 college locations namely: Manassas, Alexandria, Woodbridge, and Loudoun, all within the Northern Virginia Community College. The company also stated that it would give students a grab-and-go option.