Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Jumia Technologies shares have spiked after Citron Research sent out a tweet saying the stock is on its way to $100.
$JMIA on its way to $100. Largest opportunity in E-Commerce Validated by Blowout Black Friday. New filing from Thursday shows Baillie Gifford just doubled their position and now owns >20% of shares outstanding. If this was SPAC would be $100 TODAY. pic.twitter.com/kRZu5fGfwS
— Citron Research (@CitronResearch) January 13, 2021
Dropbox shares fell over 11% after the company said it is cutting its global workforce by about 11%, while they also announced that COO Olivia Nottebohm will leave the company on the 5th of February.
Diversified holding company Live Ventures Incorporated’s (Nasdaq: LIVE) share price surged after it announced financial results for its fiscal year ended September 30, 2020.
The company reported revenues of $191.7 million, net income of $10.9 million, and basic EPS (earnings per share) of $6.40. They also reported operating income of $20.4 million, an increase of 527% compared to last year.
Live Ventures completed two acquisitions in 2020, Lonesome Oak in January and Precision Marshall in July.
The company’s shares rose 88.32% to $23.54 on the news.
Plug Power (NASDAQ: PLUG) shares are up over 6.5% premarket, trading at $70.39.
Its shares have surged since the announcement that Groupe Renault, and Plug Power Inc, have signed a Memorandum Of Understanding (MOU) to launch a 50-50 joint-venture based in France by the end of the first half of 2021.
Yesterday Plug shares closed 22.33% higher at $66.02.
“This strategic JV will position Groupe Renault and Plug Power to become key players in Europe in the research and development (R&D), transformation, manufacturing and sale of fuel cell-powered vehicles and hydrogen turn-key solutions in the coming years. This joint-venture platform will serve the fast-growing market of fuel cell light commercial vehicles, taxis, and commercial people transportation,” Renault said in a statement.
Regeneron Pharmaceuticals (NASDAQ: REGN) share price has increased by over 3% premarket to $521 after the company announced an additional US order to purchase 1.25 million doses of its COVID-19 antibody cocktail bringing the total number to over 1.5 million doses.
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Johnson & Johnson expects to release critical results from its COVID-19 vaccine trial in as little as two weeks according to the New York Times.
However, there are some issues with the number of doses available…
“Federal officials have been told that the company has fallen as much as two months behind the original production schedule and won’t catch up until the end of April, when it was supposed to have delivered more than 60 million doses, according to two people familiar with the situation,” the NYT said.
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