Category: Investment News

The weather here in Chicago may be unseasonably cool for June, but the market has been sweltering! The S&P just reached a new all-time high, and its counterparts aren’t far from making their own milestones. This is the type of heat you don’t want to escape from. So let’s take a look at a few Zacks Rank #1s (Strong Buys) that are trending higher along with the market and approaching their own highs: Roku, Inc. (ROKU) hasn’t been public for very long, but streaming content isn’t exactly an age-old fixture of the market. Though with this company’s help, the industry[…]

This year has already seen several high profile initial public offerings and the results have been mixed. Ride-sharing giants Uber (UBER) and Lyft (LYFT) have been disappointing so far with both trading below the IPO price. Uber has been holding steady, down just about 3%, but shares of Lyft currently trade lower by more than 20%. Other 2019 IPOs are still performing well, Zoom Video (ZM) and Levi Strauss (LEVI) are still solidly positive since offering shares to the public for the first time, but Beyond Meat (BYND) has been the best performer, with its shares now trading more than[…]

Late last Thursday, during the final trading session of a holiday-shortened week, Canadian Cannabis company Canopy Growth Corp (CGC) announced that it had reached an agreement to purchase 100% of US cannabis investment company Acreage Holdings in a uniquely structured deal. It’s a sign that the industry has come a long way in a very short time since the phrase “big marijuana deal” meant something else entirely… Though the industry seems ripe for consolidation – with huge, established players with cash to spend hungrily eyeing smaller upstarts who have interesting intellectual property or market position – the patchwork of cannabis[…]

In a report released today, Anthony Vendetti from Maxim Group maintained a Hold rating on New Age Beverages Corporation (NBEV). The company’s shares opened today at $5.44. Vendetti said: “NBEV reported 4Q18 revenue above our estimate, we believe due to 10 days of Morinda revenue following its acquisition on 12/21/2018. Operating loss was wider than expected, due primarily to acquisition-related costs. We are adjusting our estimates to account for the addition of Morinda, which we expect to provide about 80% of total NBEV revenue at a historically-stable 80% gross margin, 6% operating margin, and 8% EBITDA margin.” According to TipRanks.com,[…]

H.C. Wainwright analyst Ed Arce maintained a Buy rating on Madrigal Pharmaceuticals Inc (MDGL) today and set a price target of $228. The company’s shares opened today at $126.86, close to its 52-week low of $91.56. Arce noted: “We continue to expect the initiation of an additional Phase 3 study by mid-2019 in patients with NAFLD (simple steatosis) and early NASH (no fibrosis) and dyslipidemia. Recall, a prior study in patients with heterozygous familial hypercholesterolemia (HeFH), have demonstrated the pleiotropic activity of resmetirom which includes reducing levels of an array of atherogenic lipids; LDL-C, ApoB, triglycerides, ApoCIII, and Lp(a), liver[…]