Proteostasis Therapeutics Inc (PTI) was a tremendous runner today in the biotech space. The stock traded up to over +390% on extreme volume after the company announced that its study for patients with cystic fibrosis met all of its endpoints, which was fantastic news to investors and traders. Presently I see support at $7.31 but […]
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The equities markets adopted a clearly bullish tone today, as most indexes rallied strongly back towards the price ranges they were at on Monday of last week. However, there is still substantial ground to go to consider this a full recovery. While pundits continue to debate why the markets declined sharply beginning October 10th, what […]
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The equities markets were neutral for most of today’s session, with the S&P 500 primarily trading below the area where the majority of trading activity occurred over the last two sessions. This implied that bearish sentiment was stronger, with apparently passive sellers sitting on their large offers all day as buyers failed to move the […]
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The equities markets were neutral for most of today’s session, with the S&P 500 primarily trading below the area where the majority of trading activity occurred over the last two sessions. This implied that bearish sentiment was stronger, with apparently passive sellers sitting on their large offers all day as buyers failed to move the […]
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The markets continued to sell off today, after holding ground on the lows for an extended period during the session. However, after attempting to rally towards the middle of the session, the markets sold off sharply, with the S&P 500 moving more than 2% lower. However, we had some stocks moving sharply higher, notably ATXI, […]
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Mylan (MYL) was quite active in trading today, especially given the generally neutral trading activity of the overall marketplace. At market open, the stock was pressured to the downside off of negative commentary from Morgan Stanley. The company stated that Mylan was unlikely to benefit from current positive developments due to “uncertain prospects” on future […]
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Today’s market action was mostly muted, as would be expected given today is a bank holiday. The S&P 500 became mostly bearish about 90 minutes into the session but bounced back sharply to erase most of this session’s losses towards the end of the day. Healthcare mostly mimicked the action of the overall market, but […]
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Today’s markets were substantially bearish. The SPY ETF traded as low as 286.22, a decline of nearly 1%, before bouncing back to recoup around 40% of its declines at the time this article was written. This negative bias affected most stocks in the healthcare and biotech sectors, with the XLV healthcare sector ETF and the […]
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Both biotech and healthcare stocks were sharply lower overall in today’s session. Overall, US equities markets sold sharply off recent all-time highs as reality finally set in that interest rates would likely continue higher due to persistently positive economic data. One stock hit particularly hard today is Mallinckrodt (MNK), which traded down over 17.50%. Besides […]
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Shares of India Globalization Capital Inc. (IGC) rose sharply in overnight trading and into the early part of today’s session. The stock appears to be moving due to market-wide excitement over CBD-infused beverages, an area that IGC participates in. However, some analysts feel that the stock’s meteoric rise after nearly 10 years of declining value […]
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