Intuitive Machines [LUNR] - Last Close: $81.99
Intuitive Machines has been running red-hot since yesterday.
The space products & services stock recently made its market debut via a SPAC merger last week, but it broke out on Wednesday.
There was no obvious catalyst to explain the move, but a Terran Orbital's big rally may have drummed up some bullish sentiment for the space sector.
Today, Polar Multi-Strategy Master Fund terminated a Forward Purchase Agreement with Intuitive Machines for 1.25 million shares.
However, the news isn't slowing down LUNR. The stock is still gathering momentum in today's premarket.
LUNR is up 25.6% in early-morning trading, making it one of today's top premarket stocks.
My Take: This stock is carrying a lot of momentum right now, but I am concerned that the move doesn't seem to be tied to any practical catalyst. The current boom is riding on sentiment, so the gains could disappear quickly if the company hits a snag.
TransMedics Group [TMDX] - Last Close: $64.54
A strong earnings report is boosting shares of TransMedics today.
The commercial-stage MedTech stock released its fourth-quarter results after Wednesday's closing bell, and shares rallied in response.
TransMedics reported a thinner-than-expected loss of $(0.21) per share that beat the $(0.30) EPS consensus by 30.0%.
The company's revenues grew 224.5% from a year earlier to $31.38 million in Q4, which also topped the Street's $24.45 million target by a whopping 28.3%.
Shares of TMDX exploded after the strong earnings report hit the market. The stock is one of today's top premarket stocks with a 16.8% gain.
My Take: TMDX's revenue growth is certainly promising, but the company still has a long way to go before it becomes profitable.
Vascular Biogenics [VBLT] - Last Close: $0.1298
Merger news is boosting shares of Vascular Biogenics.
The biopharma firm announced it had entered into a definitive merger agreement with Notable Labs.
Under the terms of the deal, Notable will merge with a Vascular subsidiary, and shareholders will receive a portion of the newly-formed company's shares.
Notable Labs shareholders are expected to control 76% of the combined companby, and VBLT shareholders will control the remaining 24%.
Both companies' boards have approved the deal, and closing is expected inthe second quarter.
VBLT is one of today's top performers with a 85.5% gain on the merger news.
My Take: This large move seems a bit overdone. I am expecting a pullback here at some point.
