MedTech Stock Explodes for 237% Gain! 💥

US benchmarks extended their run of recent losses on Monday. The S&P 500 fell 0.9%, and the Nasdaq closed 1.4% lower in the first session of the trading week. The Dow fared slightly better with a 0.4% decline, and the small-cap Russell 2K lost 1.4%.

Today, fluctuating futures are pointing to an uncertain open. S&P 500 contracts are currently showing a 0.1% decline in early-morning trading.

🇯🇵 Japan's Surprise Rate Move: The Bank of Japan raised the cap on its benchmark yield to 0.5% in a surprisingly hawkish move from a country known for its loose monetary policy, shaking up global bond markets.

Lucid Group is moving higher ahead of today's open.

This morning, the EV stock announced the completion of an at-the-market equity offering of more than 56.2 million shares.

Lucid says the sale generated net proceeds of roughly $600 million.

The company said it also expects to settle on another placement of 85.7 million shares for proceeds of $915 million this month.

Lucid said the cash will go towards general corporate purposes, including capital expenditures and working capital.

LCID is the top stock in the Nasdaq-100 with a 4.5% gain on active trading volume.

My Take: LCID shares are currently trading pretty close to their 52-week low. This news is promising in that it shows the company has institutional support. This could be an interesting longshot growth play in the EV sector.

A new bout of clinical data is giving IceCure Medical a big boost.

The Israeli medical device company interim results from an ICESECRET study of its ProSense therapy was very effective in patients with small renal masses.

IceCure said the study found its cryoablation ProSense technology was safe and effective in patients with kidney lesions not suitable for surgical intervention.

ProSense is already approved for the treatment of both benign and malignant kidney tumors in the US, Europe, and other countries.

The promising study data will likely expand use of the therapy in the approved jurisdictions.

ICCM is this morning's top performer with a 237.3% gain on active premarket trading volume.

My Take: This move seems unusually aggressive, but the stock is down substantially this year. If this move holds, ICCM could find support at the $3 mark.

Verona Pharma is moving higher after a promising clinical update.

The clinical-stage biopharma firm said a Phase 3 trial for ensifentrine in chronic COPD patients met its primary and key secondary endpoints.

Verona said the drug produced "significant improvements" in lung function, symptoms, and quality of life metrics.

Patients who received ensifentrine also showed "constant improvements' in all subgroups, such as age, disease severity, gender, and more.

Verona plans to submit a new drug application with the US FDA in the first half of 2023.

VRNA is up 40.1% on active premarket trading volume after releasing the clinical data earlier this morning.

My Take: VRNA has been running hot since the beginning of Oct., and it is currently on pace to set a new 52-week high in today's session. This micro-cap pharma stock could have potential.

Applied UV is heating up after announcing two big acquisitions.

The disinfection technology firm has agreed to acquire PURO Lighting LLC and LED Supply Co in a move that would double the company's size.

The combined transaction volume of the acquisitions comes to about $20 million.

Applied UV will finance the purchase with a combo of cash, restricted common shares, and restricted preferred shares.

The deals will help the company expand distribution & sales of its UV-powered disinfection devices, positioning it for accelerated expansion and revenue growth.

AUVI is trading actively with a 35.5% gain on the news.

My Take: This seems like a smart move for this tiny company. Growth is the main priority for a company this small, and these deals will help it dramatically increase its expansion rate. AUVI has also been trending higher lately, and this move could help it keep the momentum going.

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