Monday, September 12, 2022

FDA Approval Sends Two Stocks Soaring

Trade of the Day Wake-Up Watchlist

Good morning Wake-Up Watchlisters! While you're sipping coffee for the daily rise and grind you'll see stock futures rose Monday. Investors are waiting for inflation data this week. Back in August, the consumer price index rose 8.1% over the prior year, a moderation from an 8.5% increase in July.

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

Spectrum Pharmaceuticals (Nasdaq: SPPI)

Spectrum Pharmaceuticals is up 20.46% premarket after the company received FDA approval for its Rolvedon™ drug. The approval marks Spectrum's transformation to a commercial-stage company with the opportunity to compete in a $2 billion market.

The medical sector often provides some amazing investment opportunities. And our friend Alexander Green wants you to know about this new breakthrough technology. Its company is trading at just $3 and has only been public since 2020.

Click here to discover this company.

 

Bristol-Myers Squibb Company (NYSE: BMY)

Bristol-Myers Squibb Company is up 6.90% premarket after the FDA approved its new plaque psoriasis treatment. The drug goes by the name 'Sotyktu' and is the first new treatment for adults suffering from moderate-to-severe plaque psoriasis in more than ten years. Bristol Myers says the drug could launch as early as next month.

 

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Carvana Co. (Nasdaq: CVNA)

Carvana is up 6.04% premarket after the online car retailer recently made its vehicle financing qualification process even easier by offering Nashville residents a co-signer option. Shares of Carvana have been one of the biggest beneficiaries of the COVID rally. Plus, several billionaires including Jim Simons' Renaissance Technologies and Israel Englander's Millennium Management, just purchased 1,249 million shares and 504,725 shares, respectively.

We recently closed a trade on Carvana in The War Room for a double-digit gain.

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Vinco Ventures (Nasdaq: BBIG)

Vinco Ventures is up 11% premarket and shares have recently doubled in the span of a few days. One of the key drivers has been hype surrounding a potential gamma squeeze. According to Twitter personality Will Meade, Vinco Ventures is currently in 5th place in terms of gamma squeeze opportunities.

 

Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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