| US indexes recovered from a down open on Wednesday and briefly broke into positive territory before falling short at the closing bell. The Dow lost 0.1%, the S&P 500 slid to a 0.2% loss, and the Nasdaq gave up 0.2%. The small-cap Russell 2K fell 0.7%. Today, stocks are on pace to extend their slide. S&P 500 futures are currently showing a 0.5% loss. Forbes mag says this strategy "like finding money in the street" And Reuters magazine calls this type of trading "the new baby boomer hobby." An anonymous trader -- living at the base of the Smoky Mountains -- just released a free report revealing a step-by-step system to generating an extra $5,000 per month in income thanks to this trading strategy. The report is free until Sunday. Click here for the FREE REPORT. U.S. gas prices are on the rise after down-trending for 100 days. US Treasury bond yields on the 10-year US Treasury note rose to 3.775%, and two-year Treasury yields climbed to 4.175%. Take-Two Interactive Software [TTOO] - Last Close: $117.30 Take-Two is on the rise after an analyst upgrade. This morning, Goldman Sachs analyst Eric Sheridan upgraded his rating on the stock from "neutral" to "buy," and lifted his price target from $131 to $165. Sheridan's price target hike represented a roughly 25% increase from his previous target. News of the hike is sending TTOO shares higher ahead of the opening bell. TTOO is currently leading the S&P 500 with a 2.8% gain. My Take: TTOO is down sharply on the year and, with a P/E ratio of 77.4, it still has room to fall further. The stock also just fell through a key support level at $125 per share last month, although it could be on course for a rebound. WISeKey Intl. [WKEY] - Last Close: $1.66 WISeKey is trending after a preliminary earnings release. The Swiss cybersecurity firm released preliminary 9-month results from 2022 this morning, and investors liked what they saw. WISeKey reported revenues of $20.5 million for the period, marking a whopping 69% increase from the same time frame last year. Third-quarter revenues of $7.9 million marked a 44% increase from the year-earlier quarter. The company also reported a $37 million backlog for IoT semiconductors products and pipeline opportunities totaling $100 million. WKEY is trading actively with a 22.3% gain on the news. My Take: WKEY is another tiny stock with a market cap of just $6.64 million, so this rally could be overdone. However, the company's growth numbers are impressive, and it seems like the stock could have potential. Statera Biopharma [STAB] - Last Close: $0.1402 Statera Bio is surging after landing a key patent. Yesterday, the biotech firm gained 7% on news it was granted European patent number EP2306708 titled "Methods And Compositions For The Treatment Of Radiation-related Disorders" Shares rallied again in the premarket after the company's Form 10K filing hit the market this morning. It's unclear what specific part of the lengthy filing sparked the rally, but the document included details on the company's financial status, drug pipeline, clinical updates, and more. Whatever it was, investors liked what they saw, and STAB is one of this morning's top performers with a 75.4% gain on active trading volume. My Take: STAB isn't exhibiting the typical signs you see with a short squeeze, so I don't think that's what's driving this move. However, it's not hard to move share prices with a market cap of only $7.01 million, so there could be some targeted manipulation at play here. Green Giant Inc. [GGE] - Last Close: $0.70 Chinese property developer Green Giant is moving higher today. The stock is rebounding after a brutal stretch of losses that chopped down share prices to less than one-fifth of their 52-week highs of $3.80. Rumors of trouble with the Chinese economy and concerns over the fiscal health of fellow Chinese property developer Evergrande Inc soured investor sentiment towards GGE and sparked the stock's row of losses. However, the sell-off could be finally bottoming out, as GGE is showing sharp gains in today's premarket despite little to no news to explain the move. GGE is up 60.0% on active premarket trading volume. My Take: Chinese stocks can be very volatile, and the region isn't exactly a stranger to unscrupulous accounting practices. There could be opportunities for some short-term gains in this stock, but be ready to make a quick exit if needed. |
