| The S&P 500 rallied 3.0% on Tuesday in what was a second consecutive day of sharp gains for America's benchmark indexes. The Nasdaq added 3.3%, and the Dow jumped 2.8%. The small-cap Russell 2K outperformed with a 3.9% gain. This morning, futures are in the red. S&P 500 contracts are showing a 0.7% loss in early-morning trading. [ALERT] A Promising Stock with 500% Potential Γ°ΒΒΒ₯ The global lithium market is projected to surge 500% due to a growing need for lithium-filled batteries. And one South American mining stock could be in a perfect position to capitalize on this megatrend. Put this company on your investing radar today. Elon Musk has proposed closing the deal with Twitter under the original terms, potentially averting a high-stakes trial. Yesterday's August Job Openings report showed the worst one-month decline since April 2020. It was the second-worst one-month drop ever recorded. Vicinity Motor Corp [VEV] - Last Close: $1.07 Vicinity Motor is finally delivering vehicles. After Tuesday's closing bell, the tiny EV company announced it's ready to begin deliveries of its Class 3 electric trucks manufactured in its Canadian plant. The truck can charge in 2.5 hours and has a range of 241 kilometers, or about 150 miles, with a 2,495 kilogram payload. News of the pending launch sparked an after-hours rally in VEV. Now, it's one of the top premarket stocks with a 48.6% gain on active volume. My Take: This vehicle sounds promising, but it's hard to tell if it will catch on. However, it could be a good time to get in position, if you're long-term bullish on this tiny EV stock. Chara Solutions [CHRA] - Last Close: $1.98 Chara Solutions is moving higher after announcing a new contract. The environmental cleanup services firm announced today that it had been awarded a multi-year ask pond closure project from a utility partner in southern Indiana. According to the press release, the project includes the closure bu removal of an 11-acre ash basin that is being retired, and work is set to begin in mid-October. Financial terms of the agreement were not disclosed in the initial press release. CHRA is one of today's top premarket performers with a 20.2% gain on active trading volume. My Take: CHRA is facing stiff resistance at the $2.50 mark, but, if it can break through, it could have some serious upside. Just last month, shares were trading for $5, so this one could be worth watching. Top Ships Inc [TOPS] - Last Close: $5.43 Top Ships is on a hot streak. The tanker shipping company started heating up last week after its 1H FY2022 earnings report showed it grew its revenues at a 53% clip year-over-year to $38.8 million. This week, the stock began trending again after rumors began circulating that OPEC+ was considering a supply cut to bolster fledgling oil prices. The news sent oil prices higher, and shares of TOPS followed because the tanker vessel operator could benefit from a boom in oil prices. TOPS jumped 66.0% on Tuesday, and it's showing a 16.4% gain in today's premarket. My Take: TOPS has a high short ratio, so I think yesterday's gains can be attributed to a coordinated push towards a short squeeze. The residual effects of the effort are pushing the stock higher in today's pre-bell trading session. Bionano Genomics [BNGO] - Last Close: $2.04 Bionano Genomics is trending after gaining on Tuesday. The micro-cap biotech stock started gaining yesterday after the company published a study showing its optical genome mapping presented advantages over other treatments. "OGM can be more sensitive for detecting large structural variations than WGS, and it provides a nice example of how complementary the two methods are," said Bionano CEO Erik Holmlin, PhD. Since the news broke, the stock has been trending higher. Yesterday, BNGO closed 13.3% higher, and it's padding its gains in today's premarket. BNGO is one of the morning's most active stocks, and it's showing a 9.8% gain. My Take: Something seems to be brewing at this stock, but it's unclear if this rally will have legs. A short squeeze could also be contributing to the push higher, as BNGO has an elevated short percentage of 14.39%. |
