Monday, October 10, 2022

Healthcare Company Gets Stimulated!

Trade of the Day Wake-Up Watchlist

Good morning, Wake-Up Watchlisters!

Rejoice, it is officially slipper weather again! So, throw on a warm hoodie, grab a cup of joe and check out a little premarket action before the morning commute.

All eyes are again on Powell this week, as analysts anticipate the upcoming Consumer Price Index update and its effect on interest rate hikes. Earnings season is also upon us again as well, with the big banks first in line. JPMorgan, CitiBank, and Wells Fargo will all release their earnings this week and we'll get a clearer picture of how the financial sector is performing in the second half of the year.

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Now, let's take a look at the top-moving stocks this morning.

NeuroMetrix Inc. (Nasdaq: NURO)

NueroMetrix Inc. is up 30.38% premarket. The healthcare company, which designs, and produces devices that stimulate and analyze nerve responses has received significant institutional investor support over the last week. Topline Capital Management LLC, Renaissance Technologies LLC, and Geode Capital Management all increased their stakes significantly, scooping up 75K shares between them.

 

Senti Biosciences (Nasdaq: SENTI)

Senti Biosciences is up 26.43% premarket. Shares for the next-gen gene therapy company skyrocketed late last week after it was announced that they would be presenting pre-clinical data on its genetically designed "cancer killer" cells next month. Analysts at Morgan Stanley set a new price target for the company at $7.50, while Chardin Capital has an even more optimistic target set at $12 which represents a 168% gain from Senti's most recent closing price.

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ACM Research Inc. (Nasdaq: ACMR)

ACM Research Inc. is down 26.43% premarket. The company specializes in cleaning equipment for enhancing the manufacturing process computer chips worldwide. This drop is almost certainly a direct result of the Biden Administration's fresh wave of restrictions on Chinese tech companies. On top of general tightening of export rules, the US added more companies to their list that require "verification" before US suppliers will be cleared to sell to them.

 

Argo Blockchain plc (Nasdaq: ARBK)

Argo Blockchain plc is down 12.51% premarket. The crypto-mining company raised $27 million in capital over the weekend in an effort to gain some liquidity in the midst of the current crypto bear market. Argo also announced the sale of 3,400 of its mining devices for $7 million reducing its mining capabilities in exchange for short-term funding. Company leadership reports confidence about the next 12 months, but like many other crypto-based businesses the future of the technology itself is very uncertain.

 

Between the war in Ukraine, record inflation, and supply change issues the markets have certainly had a tough year. However, this could be just the beginning. The national debt is now over $30 TRILLION and now could trigger the worst recession in 50 years.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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