Wynn Resorts Ltd [WYNN] - Last Close: $58.30
Wynn Resorts is moving on Macau news.
China's Macau region loosened visa rules for visitors to the world's biggest gambling hub, lifting shares of Wynn and other casino operators in the region.
China's immigration bureau said on Monday that mainland residents can use an online visa system from Nov. 1 to travel to the former Portuguese colony.
Only paper applications have been available for the past 2.-1/2 years due to COVID-19 restriction, but the government has begun to begin offering e-visas again.
The move was widely seen as beneficial for Macau casino operators, like WYNN, and the stock is breaking out on the news.
WYNN is the leading S&P 500 stock in today's premarket with a 4.2% gain.
My Take: WYNN has some big events coming up regarding its Macau operation, including a licensing decision that could determine its future in the region. If things don't go the company's way, it could see steep losses.
First Wave Biopharma Inc [FWBI] - Last Close: $1.13
A new partnership is rallying shares of First Wave Bio.
The clinical-stage biotech firm announced this morning that it has entered into an agreement with Rho to manage a key Phase 2 clinical trial of a delivery formulation for adrulipase.
First Wave is developing adrulipase as a treatment for exocrine pancreatic insufficiency associated with cystic fibrosis and chronic pancreatitis, and a Phase 2 trial is expected to begin before year-end.
Under the terms of the deal, Rho will manage First Wave's Phase 2 clinical trial of the drug.
Financial details of the deal weren't disclosed, but FWBI soared on the news.
FWBI is one of this morning's top premarket stocks, and it's up 21.2% on active trading volume.
My Take: This move seems to be a little overdone given the nature of this announcement. This is a tiny-float stock with an elevated short percentage, so there could be more than meets the eye here. Tread carefully.
Terran Orbital [LLAP] - Last Close: $2.56
Terran Orbital just landed a powerful new ally.
The global satellite-based solutions provider has received a $100 million investment from Lockheed Martin.
Under the terms of the note and warrant purchase agreement, Lockheed will receive convertible notes and warrants issued by Terran Orbital in exchange for its $100 million investment.
Terran says it will use the funds to acquire additional production capacity, including satellite assembly space, expanding manufacturing abilities, and more.
According to a press release, the deal "creates further opportunities for both organizations to share their expertise and relationships..."
LLAP is one of today's top movers with a 46.4% gain on active trading volume.
My Take: Terran could be a buyout target. This investment shows that the big boys like what this company is doing. If they can keep the momentum going, I wouldn't be surprised if there's a buyout sometime in this company's future.
Selina Hospitality [SLNA] - Last Close: $15.09
Selina Hospitality is exhibiting some crazy volatility.
The stock made its public market debut last week after completed a reverse merger with BOA Acquisition SPAC, and shares prices have fluctuated wildly ever since.
Shares of SLNA soared in its public market debut, but the stock pulled back to a 63.1% loss the very next day on Friday.
Today, SLNA is recapturing some of its Friday losses. Shares are up 22.5% in the premarket, despite no obvious news to explain the rally.
My Take: This stock has been extremely volatile since it debuted last Thursday. It's not immediately clear what's driving SLNA's wild price action, but volatility often creates opportunities. This could be a good day-trade target.
