| Genedx [WGS] - Last Close: $11.00
After yesterday’s closing bell, Genedx reported Q1 results that blew past analyst expectations and hiked its full-year 2024 guidance.
Genedx reported a loss of $(0.33) per share but beat the consensus of $(0.67). Sales of $62.422 million also topped the $49.463 million estimate.
The company said it now expects to generate sales ranging from $235 million to $245 million for FY2024, crushing the $226.1 million target.
Analysts at BTG maintained the stock at a “buy” and hiked its price target to $19 in response to the report.
WGS is up 24.8% on over 200K shares traded.
My Take: I’ve never heard of WGS before today, but, damn, its chart is pretty impressive. I’d like to see a little more volume, but it could find a new support level around $12 if it can hang on to its gains.
Mullen Automotive [MULN] - Last Close: $5.72
The micro-cap EV maker is surging after California’s Air Resources Board approved its 2024 Mullen THREE for its Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project.
Mullen announced the breakthrough yesterday, and the news promptly rallied its shares to an 81.0% gain.
The rally is continuing in today’s premarket, with MULN up 16.4% on over 2.5 million shares traded.
My Take: MULN is getting a lot of attention from this report, but it’s hard to say whether this spike represents a trend shift or a merely a flash-in-the-pan rally.
Cyclacel Pharma [CYCC] - Last Close: $1.36
Cyclacel Pharma just announced an $8.0 million private placement priced at-the-market under Nasdaq rules.
The company plans to sell up to 4.96 million shares of common stock, plus accompanying warrants, priced at $1.61 apiece.
CYCC is up 58.8% on more than 5 million shares traded.
My Take: I expect we’ll see this move reverse course in the near future. CYCC is already locked in a major downtrend, and this won’t be enough to move the needle.
Marin Software [MRIN] - Last Close: $2.61
After Monday’s close, the tiny software developer announced the launch of a new AI-powered marketing tool, the Anamoly Detector.
Marin says the new tool can help marketers refine their online ad campaigns by automatically identifying and summarizing unexpected results in performance.
The Anamoly Detector also has the ability to analyze marketing campaigns across Google, Meta, Amazon, and other pay-per-click ad platforms.
MRIN is up 31.4% on nearly 3 million shares traded.
My Take: MRIN has been chalking up some wins lately, but it has been extremely volatile in the aftermath of its run-ups. Don’t be surprised if we see a bit of a pullback in the coming days.
Gainers
Next eGo [EGOX] >> +40.5%
Auddia [AUUD] >> +26.0%
Warrantee [WRNT] >> +22.2%
Decliners
Carnell Therapeutics [CTCX] >> (59.2%)
Medifast [MED] >> (19.4%)
Chegg [CHGG] >> (14.6%) Eli Lilly And Company [LLY] ... AM
Coca-Cola Company [KO] ... AM
McDonald's [MCD] ... AM
Eaton Corporation [ETN] ... AM
American Tower [AMT] ... AM
Advanced Micro Devices [AMD] ... PM
Stryker [SYK] ... PM
Starbucks [SBUX] ... PM
Mondelez International [MDLZ] ... PM
Amazon.com [AMZN] ... PM Employment cost index [Q1] ... 8:30a
S&P Case-Shiller home price index (20 cities) [Feb] ... 9:00a
Chicago Business Barometer (PMI) [Apr] ... 9:45a
Consumer confidence [Apr] ... 10:00a
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