| US benchmarks closed Wednesday's session in the red. The S&P 500 fell 0.8%, and the Dow lost 0.9%. The Nasdaq and the small-cap Russell 2K both closed the session with a 0.6% decline. This morning, early morning trading action is pointing to a lower open for US stocks. S&P 500 futures are currently showing a 0.7% loss. Shocking Warning: A "Nightmare Winter" is Coming... ð¨ The Elite Establishment is playing two dangerous games at once⦠They are aiming to change the way a modern economy works, by mandating a complete switch to âgreen energyâ⦠And, they're paying for it with unlimited amounts of new âpaperâ money. This is going to be really bad for a lot of peopleâbut it doesnât have to be bad for you. Making a few simple moves now could spare you from catastrophic losses down the road, but you need to get started right away. Fortunately, two investing legends have teamed up to bring you all the resources you need to make it through in one piece. See Their Full Briefing Here and Take Action Now. The US and its allies will lay out a plan on Friday to limit the price of Russian oil in an attempt to reduce the country's oil revenues without increasing prices globally, according to a Wall Street Journal exclusive. Shuttle Pharma [SHPH] - Last Close: $38.48 Shares of Shuttle Pharma have skyrocketed since its IPO. The up-and-coming pharma stock completed its public debut in yesterday's trading session, and it shot to a 373% gain before the market closed. The IPO was priced at $8.125 per unit, but shares were trading for $24.05 by the time they hit the open market, and trading was halted on several occasions due to wild volatility. Shuttle expects gross proceeds of $10 million from the transaction. Shares of SHPH continued their rally in the after-hours. It's already up 61.3% from its Wednesday closing price, and it's one of today's most active stocks. My Take: There is very little data available on this up-and-coming company, but safe to say this rally is in its late stages. It'd be pretty risky to jump on board at this point, but a short could be in order if you can time it right. Hempacco Co [HPCO] - Last Close: $5.11 Hempacco is also one of today's top movers after completing its IPO. The hemp-based smoking alternatives company made its IPO debut on Tuesday, and shares have tumbled since then. Yesterday, the micro-cap stock closed the session with a 34.3% loss. However, the bottom might be in because shares are rebounding in today's premarket. HPCO is showing a 52.3% gain in early-morning trading, and it's one of this morning's most active stocks. My Take: This young company seems to have some solid institutional backing, but it could be a hard sell for investors with such uncertain economic times ahead. Today's rebound is encouraging, but I would think long and hard before placing a big bet here. Journey Medical Corp. [DERM] - Last Close: $3.39 Journey Medical is rallying on news of important clinical progress. The commercial-stage pharma firm announced on Tuesday that it had completed over 50% enrollment for a key drug trial. Journey has enrolled and randomized over half the necessary patients for a pivotal Phase 3 study of DFD-29 as a treatment for a skin condition called papulopustular rosacea. The program consists of two clinical trials to evaluate the safety, efficacy and tolerability of DFD-29, or Minocycline modified release capsules. The combined enrollment target is 640 adults with moderate to severe papulopustular rosacea, the company said. Journey says we can expect top-line clinical data to be available by the first half of 2023. DERM is one of today's top movers with a 34.3% premarket gain. My Take: Seems like the market is betting DERM's upcoming Phase 3 trials will go off without a hitch. It wasn't too long ago that this stock traded for close to $10, so there could be some decent upside if they're right. Guardforce AI [GFAI] - Last Close: $0.3639 A new hire is giving shares of Guardforce AI a boost ahead of today's open. The cybersecurity stock announced yesterday morning that it had made some key executive moves at the C-suite level. Guardforce said Wednesday that it has appointed CEO Lei Wang to serve as the chairman of the board in addition to her current role as chief executive. The firm also announced that it had appointed a new chief financial officer after the previous one stepped down to "pursue other interests." Yu-Heng Ma will take the wheel as CFO in the wake of his departure. Guardforce also named Mingchang Liu as its chief technology officer, promoting him from his previous position as manager of Guardforce AI's technical development division. News of the C-suite shakeup is powering GFAI to a 13.5% gain on active trading volume. My Take: Most veteran Wall Street watchers will tell you a C-suite shakeup like this isn't usually a good sign for the company's long-term trajectory. This is a volatile, risky stock, so play it cautiously. |
