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Koss Corp (NASDAQ: KOSS) soared a whopping 80% this morning as meme stock traders flocked back into shares of the headphone maker. There hasn’t been an announcement, news, filing, or an analyst call that may have contributed to such a massive surge in KOSS share price on Wednesday. At the time of writing, Koss stock is trading at $8.0 – up sharply versus its low of $2.33 in late April. Roaring Kitty is keeping meme stock rally aliveInterest in the meme stocks has rekindled in recent days as Keith Gill or “Roaring Kitty” loaded up on shares of Chewy Inc shortly after disclosing a multi-million-...
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If you have been keeping an eye on the meme coin market this year, chances are that you have already heard of Memeinator (MMTR) and Popcat. Both have been making waves but it’s likely that Memeinator will prove to be a better investment for 2024. Let’s dive in and explore why. Intro to Memeinator and PopcatLet’s introduce you briefly to both Memeinator and Popcat first. Memeinator is a fairly recent addition to the crypto market – one that has a rather bold mission: to dominate the meme coins space by destroying the weaker peers. Popcat, on the other hand, aims at playing the wave of cute anim...
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Shares of Annovis Bio Inc (NYSE: ANVS) more than doubled on Tuesday after the biotech firm reported positive late-stage data for buntanetap. Buntanetap is the candidate treatment of ANVS for Parkinson’s disease. At the time of writing, Annovis stock is trading at $10.50 – still down some 45% versus the start of 2024. What does the data mean for Annovis stock?Buntanetap was shown to be effective in improving motor and nonmotor activities in a Phase 3 trial. It helped patients of Parkinson’s with overall cognitive function as well. Maria Maccecchini – the chief executive of Annovis Bio said in a...
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Eli Lilly & Co (NYSE: LLY) received approval for its Alzheimer’s drug from the Food & Drug Administration on Tuesday. The development is significant as it expands treatment options for the neurological disorder that affects close to 7 million Americans. At the time of writing, Eli Lilly shares are exchanging hands at $910. The pharma stock has gained more than 50% since the start of 2024. Is Kinsula news significant for Eli Lilly stock?Alzheimer’s is among the top five causes of deaths for Americans aged more than 65. More importantly, the number of patients suffering from this mind-wasting di...
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General Motors Co (NYSE: GM) has achieved its highest quarterly sales in over three years, driven by significant growth in full-size pickup trucks and electric vehicles. On Tuesday, the Detroit automaker reported second-quarter sales of 696,086 vehicles, marking a 0.6% increase from the previous year and the highest quarterly sales since Q4 2020. At the time of writing, GM shares were trading at $46.63. The stock has surged approximately 35% from its year-to-date low in mid-January. Reasons behind the increase in salesElectric vehicle deliveries increased by 40% from the previous year to 21,93...
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Jerome Powell, the current chairman of the Federal Reserve, expressed satisfaction with the progress made on inflation. He was speaking in Portugal at an event organised by the ECB. The theme of the event was to highlight global perspectives on inflation and central bank policies. Apart from Powell, European Central Bank President Christine Lagarde and Brazil central bank Governor Roberto Campos Neto were also speaking at the event. The US Commerce Department released the PCE numbers yesterday. The inflation figure stands at 2.6%, still well above the Fed’s goal of 2%. Policymakers do not expe...
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U.S. stocks did amazingly well in the first half this year and the second half is unlikely to be any different, says Christopher Carey – portfolio manager at Carnegie Investment Counsel. Following are the top four undervalued stocks that he expects will be the hidden gems in the back half of 2024. Cintas Corp (NASDAQ: CTAS)Cintas is a “great company” to buy and hold for the second half of this year as it’s fully committed to acquisitions that continue to make it a lot stronger. Christopher Carey is bullish on CTAS as other names in its industry either choose to merge with Cintas Corp or end up...
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Shares of Floor & Decor Holdings Inc (NYSE: FND) have plummeted by approximately 30% from their year-to-date high in late March, following a critical short report published by Spruce Point Capital Management on Monday. The report has raised significant concerns about the company’s financial health and strategic direction. Spruce Point’s bearish stance on Floor & DecorBen Axler, the founder of Spruce Point Capital, has highlighted several red flags that underpin his bearish outlook on Floor & Decor stock. According to Axler, the home improvement retailer has been “ceasing disclosures” and “chan...
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“It was probably the first time in my life I had a feeling of no control over everything. I was in disbelief over the whole situation,” 40-year old Tran, a passenger on-board the January 5 Ontario-bound Alaska Airlines told BBC. When an unused door of the Boeing 737 Max 9- the aircraft Tran was on, blew off mid-flight at a height of 16,000 ft, he sat inches away from the gaping hole left behind, battling the resultant powerful decompression, and holding on for dear life even as his shoes got sucked out by the suction, his phone disappeared from his hand, and Tran had to suffer injuries, includ...
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A 40% hit to Snowflake Inc (NYSE: SNOW) over the past four months is an opportunity to build a position at a discount, as per a Goldman Sachs analyst. Shares of the data cloud company do not currently pay a dividend. Snowflake stock could climb to $220Kash Rangan added Snowflake stock to his “America’s Conviction List” on Monday. His $220 price objective suggests more than a 55% upside from here. The analyst sees an “attractive entry point” in shares of the cloud-computing firm that he expects will benefit as data storage and analytics demand continues to surge in the coming months. SNOW share...
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