The main indices are flat-lining in the afternoon session. The Dow has entered into negative territory while the S&P 500 and the NASDAQ have not made any gains. Sentiment has turned negative after a report came out showing that consumer sentiment weakened in the first half of July. Consumer sentiment dropped from 78.1 to 73.2 while the market was expecting it to rise to 79. This follows the increased incidence of COVID-19 cases that are threatening to derail the economic recovery. Nonetheless, there are stocks that are performing very well at the moment. Some of the top performers this afternoon are:
- Verona Pharma Plc [NASDAQ: VRNA]
Verona Pharma is a top performer at the moment and is up by over 150%. Its massive rally points to increased momentum a week after the company issued equity and voting rights. On July 6th, the company announced that it had issued 55,000 ordinary shares for 5 pence each. The company stated that after the issuance it would have a 106, 536,006 shares in total. Earlier along in May, the company stated that it had received written comments from the FDA with regards to its phase-2 for nebulized ensifentrine, the company’s chronic obstructive pulmonary disease. With such progress, activity on this stock could remain strong in the near-term.
- Salem Media Group Inc [NASDAQ: SALM]
Salem Media Group Inc is another top performer this afternoon. It is currently up by 42.81% and is outpacing most of the market. While there is no major news about it today, the stock has had a series of major news in the past two weeks that are giving it momentum. At the beginning of the month, the company released its Q1 of 2020, and while most metrics were down due to the COVID-19 crisis, the company noted that on a station-by-station basis, broadcast revenues rose by 0.6%. More recently on the 15th of July, the company announced that its radio host Dr. Sebastian Gorka had been appointed by President Trump to the National Security Education Board. Such news has led to increased investor activity around this stock, as can be seen in its price action.
- Vaccinex Inc [NASDAQ: VCNX]
Vaccinex Inc is another top performer this afternoon. The stock is up by 34.98% at the moment. The stock is gaining upside momentum driven by the confidence created by insider buying. On the 10th of July, one of the company’s directors who owns over 10% of the stock bought close to $4 million worth of stock. Insider buying usually points to upcoming positive news. In the case of VCNX, the market is looking at the possible good news about the company’s 2-CLASSICAL-Lung trial for the treatment of lung cancer.
Top Performers Even as Weak Consumer Sentiment Flatlines Stocks
The main indices are flat-lining in the afternoon session. The Dow has entered into negative territory while the S&P 500 and the NASDAQ have not made any gains. Sentiment has turned negative after a report came out showing that consumer sentiment weakened in the first half of July. Consumer sentiment dropped from 78.1 to 73.2 while the market was expecting it to rise to 79. This follows the increased incidence of COVID-19 cases that are threatening to derail economic recovery. Nonetheless, there are stocks that are performing very well at the moment. Some of the top performers this afternoon are:
- Verona Pharma Plc [NASDAQ: VRNA]
Verona Pharma is a top performer at the moment and is up by over 150%. Its massive rally points to increased momentum a week after the company issued equity and voting rights. On July 6th, the company announced that it had issued 55,000 ordinary shares for 5 pence each. The company stated that after the issuance it would have a 106, 536,006 shares in total. Earlier along in May, the company stated that it had received written comments from the FDA with regards to its phase-2 for nebulized ensifentrine, the company’s chronic obstructive pulmonary disease. With such progress, activity on this stock could remain strong in the near-term.
- Salem Media Group Inc [NASDAQ: SALM]
Salem Media Group Inc is another top performer this afternoon. It is currently up by 42.81% and is outpacing most of the market. While there are no major news about it today, the stock has had a series of major news in the past two weeks that are giving it momentum. At the beginning of the month, the company released its Q1 of 2020, and while most metrics were down due to the COVID-19 crisis, the company noted that on a station-by-station basis, broadcast revenues rose by 0.6%. More recently on the 15th of July, the company announced that its radio host Dr. Sebastian Gorka had been appointed by President Trump to the National Security Education Board. Such news have led to increased investor activity around this stock, as can be seen in its price action.
- Vaccinex Inc [NASDAQ: VCNX]
Vaccinex Inc is another top performer this afternoon. The stock is up by 34.98% at the moment. The stock is gaining upside momentum driven by the confidence created by insider buying. On the 10th of July, one of the company’s directors who owns over 10% of the stock bought close to $4 million worth of stock. Insider buying usually points to upcoming positive news. In the case of VCNX, the market is looking at possible good news about the company’s 2-CLASSICAL-Lung trial for the treatment of lung cancer.
Top Performers Even as Weak Consumer Sentiment Flatlines Stocks
The main indices are flat-lining in the afternoon session. The Dow has entered into negative territory while the S&P 500 and the NASDAQ have not made any gains. Sentiment has turned negative after a report came out showing that consumer sentiment weakened in the first half of July. Consumer sentiment dropped from 78.1 to 73.2 while the market was expecting it to rise to 79. This follows the increased incidence of COVID-19 cases that are threatening to derail economic recovery. Nonetheless, there are stocks that are performing very well at the moment. Some of the top performers this afternoon are:
- Verona Pharma Plc [NASDAQ: VRNA]
Verona Pharma is a top performer at the moment and is up by over 150%. Its massive rally points to increased momentum a week after the company issued equity and voting rights. On July 6th, the company announced that it had issued 55,000 ordinary shares for 5 pence each. The company stated that after the issuance it would have a 106, 536,006 shares in total. Earlier along in May, the company stated that it had received written comments from the FDA with regards to its phase-2 for nebulized ensifentrine, the company’s chronic obstructive pulmonary disease. With such progress, activity on this stock could remain strong in the near-term.
- Salem Media Group Inc [NASDAQ: SALM]
Salem Media Group Inc is another top performer this afternoon. It is currently up by 42.81% and is outpacing most of the market. While there are no major news about it today, the stock has had a series of major news in the past two weeks that are giving it momentum. At the beginning of the month, the company released its Q1 of 2020, and while most metrics were down due to the COVID-19 crisis, the company noted that on a station-by-station basis, broadcast revenues rose by 0.6%. More recently on the 15th of July, the company announced that its radio host Dr. Sebastian Gorka had been appointed by President Trump to the National Security Education Board. Such news have led to increased investor activity around this stock, as can be seen in its price action.
- Vaccinex Inc [NASDAQ: VCNX]
Vaccinex Inc is another top performer this afternoon. The stock is up by 34.98% at the moment. The stock is gaining upside momentum driven by the confidence created by insider buying. On the 10th of July, one of the company’s directors who owns over 10% of the stock bought close to $4 million worth of stock. Insider buying usually points to upcoming positive news. In the case of VCNX, the market is looking at possible good news about the company’s 2-CLASSICAL-Lung trial for the treatment of lung cancer.
