Wednesday, August 17, 2022

Meme Stock Pops...

Trade of the Day Wake-Up Watchlist

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Good morning Wake-Up Watchlisters! While you're drinking morning coffee you'll see US stock futures fell on Wednesday. Investors are still worried over the Federal Reserve's aggressive rate-hike plan despite robust corporate earnings and China's stimulus plans.

Inflation and a possible recession have been key buzzwords in 2022. However, there's a development that could have a far bigger impact. In fact, it could lead to 1,000% gains for folks who act now.

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Here's a look at the top-moving stocks this morning.

Bed, Bath and Beyond (Nasdaq: BBBY)

Bed Bath and Beyond is up 27.65% premarket after renewed options bets from a key shareholder inspired a reddit-fueled rally. The man responsible for the gain was Gamestop chairman Ryan Cohen, who purchased call options through his RC Ventures investment group that expire in January of next year. Bed, Bath and Beyond shares have risen more than 350% over the past three weeks.

Meme stocks are often risky, which is why we use 'smart speculation' strategies in the War Room. This approach helps us to lock in gains while also protecting ourselves from losses. In the volatile 2022 markets, we have a 76% win rate and right now we're guaranteeing 322 winning trades for members in their first 12 months.

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Blue Apron (NYSE: APRN)

Blue Apron is up 18.77% premarket after no significant information that would explain the unusual move higher. The company's stock has had a battleground nature and a high short interest in the past, meaning this has all the makings of a short squeeze.

 

Cassava Sciences (Nasdaq: SAVA)

Cassava Sciences is up 17.46% premarket after the disclosure that board member and well-known investor Sanford Robertson bought 100,000 shares of the company, worth just over $2 million. Filings also showed Cassava CFO Eric Schoen also purchased shares earlier this month, totaling 2,500 shares for $19.95 per share.

 

Iterum Therapeutics (Nasdaq: ITRM)

Iterum Therapeutics is down 16.44% premarket after the company announced a date for its 1-for-15 reverse share split. The split will take effect at 5 p.m. today and will be effective for trading purposes on the Nasdaq Capital Market as of the commencement of trading on August 18.

Medical technology is on the cusp of a major breakthrough, and there's a stock our friend Alexander Green wants you to know about. This device has been called 'the biggest healthcare innovation in half a century' and right now it's trading for under $3.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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