| The Dow fell 1.1% on Monday and officially entered bear market territory in another day of declines for US benchmarks. The S&P 500 tumbled to a 1.0% loss, and the Nasdaq slid 0.6%. The small-cap Russell 2K underperformed again, with a 1.4% decline. Today, futures are rebounding in early-morning trading. S&P 500 contracts are up 1.2%, and Dow contracts are showing a 0.9% gain. The Best Lithium Stock for Less Than $1 ð
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Drills are turning on later this year, but very few investors know about it yet, so this ground-floor opportunity below $0.30 won't be around much longer. It's a new breed of lithium stock, and shares could be on course to explode. Get the Name and Trading Symbol Here Lumber prices have receded to pre-pandemic levels after a two-year boom, signalling a possible slowdown in the construction industry. Match [MTCH] - Last Close: $46.34 Match is rebounding from a new yearly low. The online dating app set a new 52-week low last Thursday, but it's moving higher today after an SEC disclosure. According to an 8-K filing from Sept. 26th, the company announced it would downsize its director roster from 11 to 10 individuals. The decision came after Dir. Joseph Levin announced plans to resign on Sept. 21st, effective Sept. 30th. MTCH is one of the premarket's top S&P 500 stocks with a 3.8% gain. My Take: Don't let today's rally fool you. Even after losing upwards of 67% of its value since the start of the year, MTCH is still expensive, with a P/E of 135.8. Don't fool yourself into thinking for a second that this beaten-down tech stock can't go any lower. Aquestive Therapeutics [AQST] - Last Close: $1.12 Aquestive Therapeutics is rallying on upbeat drug data. The NJ-based biopharma firm announced positive top-line EPIPHAST II trial data for AQST-109 compared to EpiPen. According to the study, AQST-109 median time to maximum concentration (Tmax) of 12 minutes was faster than EpiPen® Tmax of 22.5 minutes. The data also showed the drug outperformed EpiPen in some key areas, and produced a similar safety profile. Aquestive says an End-of-Phase 2 meeting with the FDA is scheduled for Q4, and additional clinical studies will begin after. AQST is trading actively with a 24.1% gain on the news. My Take: This could be a big deal for AQST. EpiPen's are an essential therapy for individuals with severe allergies, but they're expensive. AQST's new treatment could deliver huge windfalls if they can get it to market successfully. 9 Meters Biopharma [NMTR] - Last Close: $0.207 A new bout of clinical data is pushing 9 Meters Bio higher. The clinical-stage biotech announced final results from a Phase 2 VIBRANT study and an end-of-Phase 2 meeting with the FDA late Monday, and the results were promising. 9 Meters says Vurolenatide - a long-acting GP1 receptor agonist designed for irritable bowel syndrome patients - met its primary endpoints and demonstrated a 30% reduction in the study. The company also said it plans to submit a Phase 3 protocol to the FDA to finalize specifics of the trial design. Clinical plans and activities are already underway to support the Phase 3 trial, and the company expects to announced new developments once it finalizes the trial with the FDA. NMTR is one of today's top premarket performers with a 22.4% gain on active trading volume. My Take: Sounds like this drug is on course for an approval, but this tiny biotech stock is sure to show some volatility in the meantime. It's down big from the beginning of the year. If you can hold on, there might be more catalysts in the cards for this micro-cap stock. Faraday Future Intelligent Electric [FFIE] - Last Close: $0.8404 Faraday Future is trending after it reached a key resolution yesterday. The EV stock announced during Monday's session that it had resolved a governance dispute with its largest shareholder, FF Top Holding, and secured up to $100 million in financing. Under the terms of the deal, FF Top will withdraw its lawsuit against Faraday. In exchange, there will be changes in Faraday's board membership and size, as well as an amendment to its shareholder agreement with FF Top. With the dispute resolved, Faraday has already secured $100 million in new financing, including a $60 million investment in convertible secure notes from Senyun Intl. The company says it is in "active discussions" with potential investors to explore additional funding, and it's taking further steps to reduce its costs. FFIE is one of today's most actively traded premarket stocks, and it's showing a 12.9% gain. My Take: This struggling EV stock has a big short interest at 18.1%, but its long-term outlook isn't great. It could be a short squeeze candidate, but it may require a quick exit to avoid getting caught holding the bag. |
