Wednesday, September 7, 2022

Trade of the Day - Wakeup Watchlist - September 7, 2022

Trade of the Day Wake-Up Watchlist

Good morning, Wake-Up Watchlisters! Its that time again, grind up the go-go beans, find a new filter, top off the tank and brew yourselves a fresh Cup o' Joe as we check out the premarket action.

The indexes are slightly green across the board, but it seems as though that can change at any time. Uncertainty is the only constant on the market these days.

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

 

Coupa Software Inc. (Nasdaq: COUP)

Coupa Software Inc is up 12.27% premarket. The software company released earnings after the close yesterday and smashed the analysts estimates for its most recent quarter. Revenue for the quarter came in better than expected and earnings were more than double the expectations. 23% Year-Over-year growth has led to record quarterly subscription revenues and the board of directors has authorized a $100 million share buyback program. Shareholders have a lot to be happy about.

 

Biophytis (Nasdaq: BPTS)

Biophytis SA is up 42.55% premarket. The clinical-stage biotechnology released favorable results this morning from its clinical study evaluating its drug Sarconeos in the treatment of COVID-19-related respiratory failure. The company is focused on the development of therapeutics that slow the negative effects associated with aging, this includes treating severe respiratory failure in patients suffering from COVID-19.

 

UiPath (NYSE: PATH)

UiPath Inc. is down 21.18% premarket. The "software robot" provider released a reduced forecast for the year, chalking it up to currency issues and uncertainty in the global economy. Shares now sit around $16 a little over a year since its April 2021 IPO price of $56 a share. UiPath has rolled back its forecast to $1 billion in expected revenue, compared with its previous forecast of revenue around $1.09 billion.

 

NewAge, Inc. (Nasdaq: NBEV)

NewAge Inc. is down 24% premarket. After a litany of problems, the multi-level marketing company declared bankruptcy yesterday. In late 2020 NewAge conducted an independent investigation into its business practices which identified potential violations of the Foreign Corrupt Practices Act. While the company insists no penalties or fines have been imposed as a result, leadership claims its own investigation and compliance have been costly. This news comes, of course, after the Utah-based company was notified that it had defaulted on a $12 million bank loan in August. Good riddance to bad companies.

 

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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