STOCKS TELEGRAPH

Tag: NASDAQ: XELB

  • High Potential Stocks on a Mixed Day in the Markets

    High Potential Stocks on a Mixed Day in the Markets

    It’s a mixed day in the equity markets with the S&P index sinking in the red in pre-market trading.  The NASDAQ and the Dow are also oscillating between positive and negative territory too, an indicator of market indirection. This comes amidst falling bank profits due to the COVID-19 pandemic. One bank that has released weak quarterly results is Bank of America. The bank’s Q3 net income to 0.51 cents per share, from profits of $0.56 in a similar quarter in 2019. Total revenues also dropped by 10.8% to stand at $20.34 billion. The bank’s net interest income also fell by 16.9% and missed consensus estimates of $10.24 billion. The company has attributed this to the pandemic and has created jitters in the market on the massive impact of COVID-19 on the economy. On top of that, hopes of a vaccine have been dashed after Johnson & Johnson stopped its vaccine trials after one person developed an unexplained illness. While this is likely to affect the market negatively, the markets are likely to show some strength due to the hopes of a stimulus package, hence the mixed scenario. Despite the mixed market sentiment, there are stocks that stand to perform quite well in the day. Some of the high potential stocks to watch today are as below:

    Medalist Diversified REIT Inc [NASDAQ: MDRR]

    Medalist Diversified REIT Inc is a top performer pre-market and is up by over 100%. This follows the company’s announcement that it was giving a cash dividend for its series A preferred stock.  The dividend will be paid on the 26th of October 2020 to all series A stock held by the 23rd of October. This has created buying pressure in this stock as investors move to buy the stock ahead of the upcoming dividend.

    Xcel Brands Inc [NASDAQ: XELB]

    Xcel Brands Inc is a top performer this morning and is up by over 30%. This momentum is largely driven by insider buying that happened on 8th, October 2020.  On that date, the CEO purchase 4k shares at $0.75. Weeks earlier, one of the company’s directors had purchased 10k share at $0.72. This means insiders are confident in the company’s fundamentals.

    Allscripts Healthcare Solutions Inc [NASDAQ: MDRX]

    Allscripts Healthcare Solutions Inc is in the green pre-market and is up by over 30%. This follows the company’s announcement that it planned to sell Careport Health. The company has announced that it would be selling CarePort business for $1.3 billion.

  • High Potential Stocks to Watch Despite Weak Market Sentiment

    High Potential Stocks to Watch Despite Weak Market Sentiment

    It’s a weak start to the markets as investors await weak labor data from the labor department. Investors are also digesting the cautious data from the Federal Reserve about the economy. Members of the Federal Open Markets Committee are in agreement that the current health crisis could continue to weigh heavily on the U.S economy including on employment and inflation.

    The Federal Reserve was also in agreement that the pandemic would pose a risk to the economy in the near-term. This has created an element of uncertainty in the markets, raising fears that equities could be highly overvalued at the moment. Despite the dampened mood, there are stocks that are doing well this morning and have the potential to do well all through the day. Some of the stocks that posed for major gains in the day are as below:

    OpGen Inc [NASDAQ: OPGN]

    OpGen Inc has started the day on a high note and continues the momentum that started earlier in the day. This follows the company’s announcement that its German subsidiary has received certification for its COVID-19 test kit.

    Commenting on the development, CEO Oliver Schacht stated that the launch of this product as part of the company’s commitment to supporting its customers and distributors of COVID-19 test kits. The COVID-19 pandemic continues to ravage the world economy and testing is one of the ways that the pandemic is being tackled. In essence, by advancing its testing tools in the EU market, the company is uniquely positioned for growth.

    AirNet Technology Inc [NASDAQ: ANTE]

    This is another big mover this morning and started, gaining upside momentum in pre-market trading. The stock’s strong gains follow the company’s announcement that it had got a capital injection from Dragonpass Co.Ltd. The agreement between the two companies stated that the investment would be in installments and that the next installment would be around RMB 20 million.

    CEO, Herman Guo stated that the company was happy with the investment and that it would use it to fuel growth, and open new opportunities. Given that the markets are currently choppy due to the COVID-19 pandemic, a capital injection is likely to keep investor interest in this stock high all through the day.

    Xcel Brands Inc [NASDAQ: XELB]

    Xcel Brands Inc is another top performer this morning. This comes after the company released impressive  Q2 results. The company reported that it had improved its balance sheet in the quarter and that it was still on track to cut on expenses. Despite the COVID-19 pandemic, the company announced that it maintained positive cash flows in the quarter. This is likely to keep the stock gaining all through the day.