| YPF SA [YPF] - Last Close: $10.73 YP SA is surging on political news out of Argentina. The Argentinian oil & gas giant is rallying after Javier Milei, a self-styled anarcho-capitalist libertarian, won the countryās presidential election over the weekend. Milei has promised to take on the countryās political establishment and tame Argentinaās skyrocketing inflation rate. The new presidentās commitment to economic development over political & social issues is giving regional stocks like YP SA a boost today. YPF is one of the morningās top movers with a 19.2% gain. My Take: Milei plans to cut a lot of bureaucratic and regulatory red tape. Regardless of your feelings towards his politics, these policies are probably going to be very favorable for businesses operating in the country, especially for YPF and others in high-regulation industries like oil & gas.
MediciNova [MNOV] - Last Close: $1.78
MediciNova just published a promising clinical update. The tiny biotech said a Phase 2 trial of a MN-166 & TMZ combination therapy in glioblastoma patients improved progression-free survival. MediciNova said the data shows the treatment produced a 44% increase in progression-free survival after six months of treatment. The combo therapy was safe & well tolerated, plus, it produced no unexpected adverse events among the patient population. MNOV is a top mover with 16.5% gain on elevated premarket volume. My Take: MNOV has had a rough few months, but it was trading for $2.50 per share not too long ago. This catalyst could provide the pivot point it needs to snap out of its funk.
Alzamend Neuro [ALZN] - Last Close: $1.69
Alzamend Neuro is rallying after a regulatory breakthrough. The tiny biotech received a āstudy may proceedā notice from the FDA for its mid-stage trial of AL001, a lithium therapeutic for major depressive disorder. Alzamend recently completed a Phase IIA study of the drug in Alzheimerās patients & health subjects, and the treatment was safe & well tolerated. The FDA āstudy may proceedā notice clears the way for Alzamend to begin a Phase IIA study of patients with MDD. CEO Stephan Jackman said, āa next-generation lithium product (AL001) that would not routinely require therapeutic drug monitoringā¦ would constitute a major improvement over current lithium-based treatments.ā Shares of ALZN are up 9.4% on elevated trading volume. My Take: There has been a lot of trading in ALZN over the past couple of week. It experienced a big volume spike on Friday, accompanied by a 14.1% gain. It could be a signal that its recent slide might be bottoming out.
Bruush Oral Care [BRSH] - Last Close: $0.1690
Bruush Oral Care is soaring after several recent announcements. On Friday, the Canadian personal care products company announced an offering of 15.75 million shares furnished by certain selling shareholders. Around the same time, Bruush also announced an update regarding its pending $5.01 million take-private deal with Generating Alpha Ltd. Finally, the company also unveiled that it had officially fallen out of compliance with Nasdaqās minimum bid price requirement. BRSH is one of the most actively-traded stocks in the premarket, and itās leading the pack with a 171.0% gain. My Take: Iām not really sure what to make of the BRSH rally. I think it has something to do with the pending take-private deal, but the truth is anyoneās guess. Gainers Nogin [NOGN] >> +83.7% Blue Star Foods [BSFC] >> +36.4% LogicMark [LGMK] >> +23.3%
Decliners
Intelligent Bio [INBS] >> (22.8%) Captivision [CAPT] >> (18.2%) Wang Lee Group [WLGS] >> (21.4%) Legend Biotech Corporation [LEGN] ... AM Full Truck Alliance [YMM] ... AM Agilent Technologies [A] ... PM Keysight Technologies [KEYS] ... PM Zoom Video Communications [ZM] ... PM BellRing Brands [BRCR] ... PM Symbotic [SYM] ... PM Golub Capital [GBDC] ... PM Central Garden & Pet Company [CENT] ... PM Fidelis Insurance Holdings Limited [FIHL] ...PM U.S. leading economic indicators [Oct] ... 10:00a | 