Tesla [TSLA] - Last Close: $109.10
Tesla is riding near the top of the S&P 500 again today.
The EV company has sold off this month as drama continues to swirl around its CEO, Elon Musk.
Musk has been involved in a very public spat over his recent purchase of Twitter, and investors are concerned the fiasco will distract Tesla's lead executive.
Tesla is also having supply chain problems in China, which is a key growth market for the company.
However, the stock has rebounded this week, and it's up again in today's premarket.
TSLA is one of this morning's top S&P 500 stocks with a 4.7% gain on active premarket trading volume.
My Take: We'll see if this rebound rally can hold up. I thought TSLA was starting to look like a bargain at the start of the week, and it's on pace to gain again today after adding 3.3% in Wednesday's session.
Kala Pharmaceuticals [KALA] - Last Close: $3.92
Kala Pharma is running hot after notching big gains on Wednesday.
The biopharma firm gained 218% yesterday after announcing the US FDA accepted its investigational new drug application for KPI-012.
The FDA acceptance also triggered a $25 million funding facility through a private placement of Kala's series E preferred shares at $575 apiece.
KALA was one of Wednesday's top performers, and it's maintaining its momentum in today's premarket. Shares are up 50.2% on active trading volume.
My Take: Traders are desperate for good news, so it seems they are latching onto this story and pushing it as far as it can go. KALA has a short percentage of 7.14%, and the shorts are likely scrambling to cover their positions after yesterday's big rally.
Freight Technologies [FRGT] - Last Close: $0.2269
Freight Technologies is running hot after a premarket announcement.
The logistics company said it now supports cross-border logistics for an unnamed electronic equipment company with a massive presence in the US & Mexico.
According to the release, Freight Tech's new client has 18 factories and distribution centers spread across both Mexico and the US.
CEO Javier Selgas said, "We are pleased to be selected by the largest industrial electric manufacturer in the Americas for intelligence and logistics management."
Financial details of the arrangement were not disclosed, but the new customer could deliver big revenue growth for the tiny company.
FRGT is trading actively with a 36.6% gain on the news.
My Take: FRGT is facing resistance at $0.25 per share, but this rally could help it break out. The company didn't provide a lot of details about the new client, but the announcement was enough to move the needle with the market.
Charah Solutions [CHRA] - Last Close: $0.3978
A recent announcement is pushing shares of Charah Solutions higher.
The environmental services company announced on Wednesday that it would implement a one-for-ten reverse stock split at the closing bell on Thursday.
News of the reverse split initially prevoked a negative reaction in share prices. CHRA fell 12.2% on Wednesday following the early-morning announcement.
However, the move has reversed course, and the stock is gaining in today's premarket.
CHRA is up 38.2% in the premarket, making it one of this morning's top performers.
My Take: It's anyone's guess if CHRA can hold onto its gains through the close, but it's making a run for it. Its chart looks bad, but the sudden move higher could be a sign that its recent declines may have been somewhat overdone.
