Okta [OKTA] - Last Close: $71.44
Strong earnings data is also boosting shares of Okta.
The cybersecurity firm released its Q4 results after Wednesday's closing bell, and the release sparked a rally in its shares.
Okta reported Q4 earnings of $0.30 per share on revenues of $510 million. Analysts expected EPS of $0.09 on revenues of $489.36 million.
The company's Q1 earnings & revenue guidance also surpassed Wall Street's expectations.
OKTA is one of this morning's top mid-cap stocks with a 16.6% gain.
My Take: I'm long-term bullish on the cybersecurity industry, and Okta's identity verification solutions make it a major contender in the space. Today's rally could help the stock break into a new trading range.
OncoSec Medical [ONCS] - Last Close: $2.04
OncoSec Medical is running hot after an SEC filling.
The immuno-oncology company file a Form RW cancelling a previously-announced registration statement after Tuesday's close, sparking a huge rally.
ONCS gained 88.8% on Wednesday in light of the news, and the rally continued through the closing bell and into the after-market.
The stock is still running hot in today's premarket. Shares are up 35.2% ahead of the opening bell, despite no new headlines relating to the company.
My Take: This small-float stock has been on a tear the past two days, but I don't think it can keep this rally going much longer. Don't get caught holding the bag here.
ProSomnus [OSA] - Last Close: $5.06
ProSomnus is trending after a recent announcement.
Late Wednesday, the medical device company said it will participate in two investor conferences this month.
ProSomnus swill attend the 35th Annual Roth Conference on March 12th to 14th, and the 33rd Annual Oppenheimer Healthcare Conference from the 13th to 15th.
Trading volumes jumped when the announcement was made, and shares are gaining in today's premarket.
OSA is up 13.0% on the news.
My Take: OSA could be planning to unveil big news at these conferences, and it appears that the market is "buying the rumor." If the bulls are right, shares could rally when the news drops.
