Good MorningThe equities market made an abrupt about-face on Thursday as fear that a deadlock in Washington will put an end to the market melt-up. A lingering impasse has held up talks between Congressional Democrats and White House Republicans keeping aid from millions of needy Americans. The tech-heavy NASDAQ Composite led the day’s rout with a loss of 5.0% with much of the weakness in FAANG names.
The S&P 500 and Dow Jones Industrial Average both shed smaller if no less alarming, amounts. In technical terms, Thursday’s price action confirms near-term reversals that could lead the indices much lower. For now, traders will be closely watching the 30-day moving average for signs of weakness. If price action on the indices falls below that level a much deeper correction could be in store.
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Markets | |
This year, the era of cloud technology dominance has officially begun. With cloud stocks leading the Nasdaq to record highs regularly, many investors are trying to figure out just how much potential these companies will have over the next decade. It’s easy to understand why businesses that a... Read the Full Story |
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From Our Partners | | Porter Stansberry nearly canceled the entire project. When he first saw the claimed returns - only one down year in nearly two decades and total gains of almost 2,000% - his immediate reaction was disbelief.
It took a trusted friend's personal vouching for Emmet Savage and a face-to-face trip to Ireland to change his mind. The full documentary, Investigating Project Prophet, is now live. | | Watch the full story and see the verified track record for yourself |
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Technology | |
Ambarella, A Diversified Play On Specialty Semiconductors
Ambarella (NASDAQ:AMBA) made a name for itself providing chips and technology for GoPro’s (NASDAQ:GPRO) popular line of digital, connected, cameras. Unfortunately for both companies, the GoPro narrative did not play out quite as we t... Read the Full Story |
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Healthcare | |
Did you know that healthcare spending makes up more than 10% of the GDP in most developed countries? In the United States, the spending is near twice that amount and accounted for 17.7% of GDP in 2018. With a global pandemic bringing the healthcare industry front and center, it’s easy to see... Read the Full Story |
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From Our Partners | | Moderna's stock doubled in a single day after its cancer vaccine hit key Phase 3 goals, and Merck jumped too. But according to a former Steve Cohen fund manager, the next big opportunity is not Moderna or Merck.
It is a different kind of company tied to a technology already backed by Elon Musk, Sam Altman, Jeff Bezos, and Peter Thiel. Nvidia's Jensen Huang says it will have a dramatic impact on daily life, while Anthropic's CEO believes it could unlock a century of medical progress in just ten years.
Nature Magazine estimates its potential value at $367 trillion globally, and it is already rolling out across the United States. | | Click here to learn about this new era of medical technology |
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Markets | | Salesforce.com Is Only The Tip Of The Iceberg
Salesforce.com (NYSE:CRM) shocked the market when it reported earnings for the 2nd quarter. We knew the pandemic had accelerated the shift to digital and with it the cloud but the numbers are mind-boggling. Salesforce.com, a company whose business is he... Read the Full Story |
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Consumer Discretionary | | Fast casual restaurant chain Red Robin Gourmet Burgers (NASDAQ: RRGB) stock has been dormant during the pandemic recovery even as the benchmark S&P 500 index (NYSEARCA: SPY) make new all-time highs. However, shares have finally awoken as money looks for laggard opportunities among the rapidly ac... Read the Full Story |
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From Our Partners | | Gold is hitting record highs, but most investors are leaving income on the table. A $15 fund is quietly paying out up to $1,152 a month to regular investors - no mining stocks, no options, no physical metal required.
Chief Income Strategist Tim Plaehn calls it a breakthrough strategy that transforms gold's rally into reliable monthly payouts. The next distribution is just days away. | | Discover the gold income fund before the next payout date |
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Communication Services | |
The Chinese social media company, Momo (NASDAQ:MOMO), is many things. One part of the company, Tantan, is an online dating site that is compared to Tinder. Then there’s Momo, its namesake app, which is an online dating service and more. In fact, it’s a potpourri of social media, video,... Read the Full Story |
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Consumer Discretionary | | Pride Cometh Before The Fall For Shoe Carnival
To look at the pre-market action you’d think Shoe Carnival (NASDAQ:SCVL) just died. The stock is down more than 12% putting it deep into correction territory and well on its way to a bear market. But that’s not what’s happening. The e... Read the Full Story |
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Markets | | A 7% rally had shares of Zendesk (NYSE: ZEN) among the best-performing stocks on Tuesday and helped propel them to all-time highs. They’ve rallied 20% in the past week and are up a full 110% since the lows of Q1. Though perhaps lesser well known and not as flashy as many of their Silicon Valle... Read the Full Story |
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Consumer Discretionary | |
Sometimes in life there are second chances. When it comes to stock trading this is often the case when a strong stock pulls back towards its 50-day moving average.
Shares of home furnishing retailer Kirkland's (NASDAQ:KIRK) appear to be bouncing back as quickly as they declined - and investors ma... Read the Full Story |
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Healthcare | |
It's easy to brush aside a small firm as a bad investment. It's even easier when it's a small pharmaceutical firm. But what would you say to a small pharmaceutical that's increased its value five-fold in the space of as many years? That's the proposition you get with Corbus Pharmaceuticals (NASDAQ... Read the Full Story |
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The Early Bird Stock Of The Day Sorrento Therapeutics, Inc., a clinical and commercial stage biopharmaceutical company, develops a portfolio of next-generation treatments for three therapeutic areas: cancer, infectious disease,and pain. It operates through two segments, Sorrento Therapeutics and Scilex. The company provides cancer therapeutic by leveraging its proprietary G-MAB antibody library and targeted delivery modalities, which include chimeric antigen receptor T-cell therapy (CAR-T), dimeric antigen receptor T-cell therapy, and antibody drug conjugate, as well as bispecific antibody approach; and Sofusa, a drug delivery technology that deliver biologic directly into the lymphatic system. Its clinical programs in development include anti-CD38 CAR-T therapy for the treatment of multiple myeloma, as well as for amyloidosis and graft versus host disease. The company develops resiniferatoxin, a non-opioid-based TRPV1 agonist neurotoxin for late stage cancer and osteoarthritis pain treatment; and ZTlido, a lidocaine topical system for the treatment of post-herpetic neuralgia. It engages in the development of SEMDEXA, an injectable viscous gel formulation, which is Phase III trial for the treatment of sciatica, a pathology of low back pain; SP-103, an investigational non-aqueous lidocaine topical system undergoing clinical development in chronic low back pain condition; and SP-104, a novel low-dose delayed-release naltrexone hydrochloride formulation for the treatment of fibromyalgia. It has collaboration with SmartPharm Therapeutics Inc. to develop gene-encoded antibody vaccine to protect against COVID-19; and Mayo Clinic for Phase Ib pilot study using sofusa lymphatic drug delivery technology to deliver Ipilimumab in patient with melanoma. The company was founded in 2006 and is based in San Diego, California. On February 13, 2023, Sorrento Therapeutics, Inc., along with its affiliate, filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas. The plan was later approved as Chapter 11 liquidation on November 30, 2023. | | View Today's Stock Pick |
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