GameStop [GME] - Last Close: $17.65
America's favorite meme stock is back!
GameStop is skyrocketing after releasing its fiscal Q4 earnings report Wednesday evening.
The game retailer swung to an unexpected profit of $0.16 per share, crushing analysts' estimate of a $(0.13) per share loss.
Revenues of $2.23 billion also beat the consensus of $2.18 billion.
GME is one of this morning's top premarket stocks with a 50.9% gain on active trading volume.
My Take: GME had a 22.1% short ratio as of Feb. 28th, and it appears the short squeeze is in full effect. Shares are on course to smash through a key resistance point at $25 per share, if the stock can maintain its momentum.
Virgin Orbit [VORB] - Last Close: $0.4432
Virgin Orbit is taking off in today's premarket after a key announcement.
The aerospace company announced this morning that it is preparing to resume operations by the end of the week.
According to a press release, the company said it will recall a small group of employees beginning on March 23rd in preparation for its next mission.
VORB is rallying on the news. Shares are up 60.7%, and it's this morning's most actively-traded stock
My Take: VORB's chart looks awful, but this stock was trading for $3 per share not too long ago. There could be some upside left in this long-shot trade.
Diebold Nixdorf [DBD] - Last Close: $0.7916
Diebold Nixdorf just announced the closing of a key deal.
On Tuesday evening, the connected commerce company said its asset-based credit facility was updated to add a $55 million first-in-last-out loan tranche.
Diebold also said its lenders for the loan facility have agreed to make some other changes to the arranges and add waivers.
The company also noted that its original $250 million non-FILO tranche commitment remains unchanged.
Shares of DBD are up 30.1% on active trading volume in today's premarket.
My Take: Just a few weeks ago, DBD said it was on the verge of bankruptcy. This deal gives it a second wind, but the company still has major obstacles to overcome.
89Bio [ETNB] - Last Close: $10.93
A key drug breakthrough is lifting shares of 89Bio higher this morning.
The clinical-stage biotech announced its liver disease non-alcoholic steatohepatitis (NASH) drug has met the main goals of a mid-stage trial.
A Phase 2B ENLIVEN trial of pegozafermin in NASH patients achieved high statistical significance on both primary histology endpoints.
89Bio says the trial's positive results support the drug's advancement into Phase 3 drug studies.
ETNB is one of this morning's top stocks with a 51.8% gain thanks to the promising drug data release.
My Take: ETNB has a 9.9% short percentage, but the stock doesn't look bad. It's coming off a recent slide, but today's rally could put it past a key resistance point at $15 per share.
