Airbnb [ABNB] - Last Close: $132.69
Airbnb is trending after a late Friday announcement.
After Friday's close, S&P Dow Jones said the home-share stock would soon join its landmark S&P 500 large-cap index.
Airbnb, along with Blackstone, will move into the index to replace Lincoln National Corp. and Newell Brands before the state of trading on Sept. 18th.
Both stocks rallied on the news, but Airbnb is still running hot ahead of today's open.
ABNB is the top Nasdaq 100 stock with a 5.5% gain.
My Take: Going into the S&P 500 is big news for ABNB. It means dozens of institutional index funds will have to purchase shares of the stock, and the buying rush could provide significant support for share prices.
Helius Medical Technologies [HSDT] - Last Close: $7.38
Helius Medical is back in the Nasdaq's good graces.
This morning, the neurotech company said it had officially regained compliance with all applicable Nasdaq exchange listing criteria.
Helius said it Nasdaq's Listing Qualifications unit reached out on Aug. 31st to provide a formal notice that the company had regained compliance.
HSDT is this morning's top stock with a 46.7% gain in response to the Nasdaq news.
My Take: HSDT is out of hot water with Nasdaq, but its stock still has an upward climb ahead of it. If it can hold onto its current gains, it could find new support at the $10 mark.
Ault Alliance [AULT] - Last Close: $1.05
Ault Alliance just announced a significant asset sale.
This morning, the industrial conglomerate said its Real Estate Equities unit wants to sell four recently renovated hotels in the Midwest for $100 million.
According to the press release, the company wants to offload the Hilton Garden Inn, Residence Inn, and the Courtyard in Madison West, Wisconsin.
It also wants to unload a fourth property, the Hilton Garden Inn in Rockford, Illinois.
Ault Alliance cautioned that there's no guarantee it will be able to sell the properties for its targeted price.
It will use the proceeds from the sale as debt repayments and working capital.
AULT is one of this morning's top performers with a 43.8% gain.
My Take: AULT has a very unimpressive chart, and I doubt this deal will move the needle on its long-term outlook. I wouldn't be surprised if this pulled back before long.
Novo Integrated Sciences [NVOS] - Last Close: $0.215
Novo is getting a boost from an analyst note.
Yesterday, Refinitive/Verus announced it would resume coverage on the company with a "hold" recommendation.
No word on the firm's price target on the stock, but news that a major analyst is resuming coverage on the stock seems to be giving it a boost today.
NVOS is up 13.4% in the premarket, and shares are trading with above-average volume ahead of the opening bell.
My Take: NVOS has been trading very erratically lately. If you want to dabble in this trade, be prepared to quickly react to changing market conditions and be ready to change your trade strategy if needed. As I always say, don't get caught holding the bag
