Large-Cap Biotech Rallies 121% on Drug Data 🔥

[Image](www.elitetrade.club) Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. It's Thursday, January 5th. I hope you have a great day. Let's get ready to trade! Markets 📈 Stocks rallied on Wednesday despite deepening interest rate concerns among investors. The S&P 500 added 0.7%, and the Dow gained 0.4%. The Nasdaq advanced 0.6%, and the small-cap Russell 2K jumped out to a 1.2% gain. Today, futures are holding steady in early-morning trading. S&P 500 contracts are currently carrying a small fractional gain. Sponsored [Mastering This Skill Could Make Trading So Much Easier...]( If you've struggled with trading techniques in the past and watched your mistakes affect your bottom line, you're not alone-but you can change that starting now! I'm trading expert Thomas Wood and my e-guide, "Naked Trading Mastery" could give you the edge you need to make earning consistently easier than ever! [Get your free copy here!]( Premarket Highlights 🔎 🦅 Fed Minutes Spook Markets: Minutes from December's Fed meeting were released on Wednesday, and they showed that policymakers are committed to continuing their rate hike path into 2023. Interestingly, central bankers also noted that the market's optimism could complicate its ongoing fight against inflation. What to Watch Today 👀 Earnings Season Kicks Off Today's session will feature the first slate of notable earnings reports we've seen this year. The reports could shed some light on consumer behavior and economic activity in Q4. Constellation Brands, Walgreens Boots Alliance, and Conagra Brands are today's most noteworthy reporters. We'll also get the ADP employment report this morning, which could set the tone for the December Jobs Report set to release later in the week. Major Earnings 💰 Constellation Brands, Inc.[STZ] ... AM Walgreens Boots Alliance, Inc. [WBA] ... AM Conagra Brands, Inc. [CAG] ... AM Rpm International Inc. [RPM] ... AM The Simply Good Foods Company [SMPL] ... AM Neogen Corporation [NEOG] ... AM Helen Of Troy Limited [HELE] ... AM Lindsay Corporation [LNN] ... AM Schnitzer Steel Industries, Inc. [SCHN] ... AM Duck Creek Technologies, Inc. [DCT] ... PM Economy 🏗 - ADP employment report [Dec] ... 8:15a - Weekyl jobless claims [Dec] ... 8:30a - Trade deficit [Nov] ... 8:30a - S&P U.S. services PMI (final) [Dec] ... 9:45a Running Hot 🔥 Gainers - Rockley Photonics [RKLY] >> +79.8% - AMTD Digital [HKD] >> +69.2% - Orchard Therapeutics [ORTX] >> +31.0% Decliners - Silvergate Capital [SI] >> (40.5%) - Nuwellis [NUWE] >> (33.8%) - Cryptyde [TYDE] >> (22.6%) NovoCure Ltd [NVCR] - Last Close: $70.53 Novocure is heating up on breakthrough clinical data. The oncology firm announced a LUNAR study of its Tumor Treating Fields (TTFields) in lung cancer patients met its primary overall survival endpoint. The open-label, randomized study evaluated the TTFields' safety and efficacy when combined with standard therapies for stage 4 non-small cell lung cancer. Novocure said the therapy produced statistically significant and clinically meaningful improvement in patient survival. The company expects to file applications for a premarket approval with the FDA and a CE mark in the EU sometime in the second half of 2023. NVCR is skyrocketing on the news. It's this morning's top premarket performer with a 121.1% gain. My Take: NVCR's 7.49% short percentage may be throwing fuel on the fire. I don't know if it can hold at this level without pulling back at some point, but it's currently trading well above its 52-week high of about $90 a share. Vyant Bio [VYNT] - Last Close: $0.7698 Vyant Bio just made a big move that got the market's attention. The tiny biotech announced it has tapped LifeSci Capital to advise & assist it with an ongoing review of "strategic alternatives" to enhance shareholder value. Vyant warned that the hire will not necessarily result in a specific action or change to its existing business plans. The company also said it will not discuss any further developments until its board has approved a specific action. VYNT soared after the news broke in Wednesday's aftermarket. Shares are currently up 115.6% on high volume in early premarket trading. My Take: "Strategic Alternatives" is basically a euphemism for buyout, merger, or other big move, and it seems investors are rushing in to position in case the company lands a big buyout deal. Argo Blockchain [ARBK] - Last Close: $1.20 Argo Blockchain is moving higher after an analyst upgrade Roth Capital upgraded the crypto miner to "neutral" from "sell" and raised its price target from $0.25 to $1 in a note released after Wednesday's close. Like most crypto stocks, Argo has gotten crushed since the FTX fiasco crushed what little confidence investors had in cryptocurrencies. However, the analyst upgrade is giving ARBK a jolt. The stock is up 35.8% in the premarket. My Take: ARBK has been quietly heating up over the past two weeks. Shares are up 204% since Dec. 22nd. It's starting to look like ARBK's recent sell-off may have been overdone. Oblong Inc [OBLG] - Last Close: $2.21 Oblong running hot in the wake of a reverse stock split. On Tuesday, the video collaboration company announced a 1-for-15 reverse stock split that would take effect the next day. Oblong began trading on a split-adjusted basis on Wednesday, and the stock subsequently exploded. Shares rallied 28.0% on Wednesday, and OBLG is carrying its momentum into today's premarket. OBLG is up 43.4% in early premarket trading. My Take: A reverse split has zero material effect on a company or its stock, so the reasoning behind the move is unclear. The most likely reason is a coordinated buying push intended to take advantage of the tiny stock's low float. That's it for today! Thanks for reading, and good luck out there! Best Regards, Chris D. -- Elite Trade Club P.S... If you're on the hunt for a new broker, check out our preferred partner, moomoo! You can [get 15 free stocks]( worth up to $2,000 each if you join the moomoo App now. [Click here to get started.]( P.P.S... Want alerts delivered straight to your cell every morning for free?* Text ELITE to 47121 or [click here]( to sign up now and get our watchlists sent directly to your phone! Or text CLOSE to 47121 to get on the mobile alert list for our Closing Bell Roundup report, featuring the day's top winners and losers. *Standard message/carrier rates may apply. Legal Stuff: Stocks featured in this newsletter are for entertainment purposes only. You should not base any investment decisions on information contained in my newsletter. 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