Pharmaceutical Company Spikes 105%
Good morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures crept higher on Thursday following the Federal Reserve’s latest policy announcement. The Fed bumped interest rates by 75 basis points for the third straight time, bringing the federal funds rate to a new range of 3.0% to 3.25%.
With the Federal Reserve’s latest move, there could be more volatility in store during the coming months. That’s why we’re putting our energy into profiting off negative stocks in The War Room.
Here’s a look at the top-moving stocks this morning.
Phillips 66 (NYSE: PSX)
Phillips 66 is up 4.85% premarket as the oil company continues to benefit from robust oil usage. Americans are using more gas for traveling as the country enters post-pandemic recovery. The Ukraine Russia uncertainly has also created more demand for energy.
Oil and gas stocks have been major winners in 2022, and we’ve been positioning ourselves on energy stocks in Trade of the Day Plus.
Spero Therapeutics, Inc. (Nasdaq: SPRO)
Spero Therapeutics is up 105.67% premarket after announcing an agreement with GSK for its late-stage antibiotic asset, tebipenem HBr. Tebipenem HBr is being developed as the first oral carbapenem antibiotic for the treatment of urinary tract infections, including pyelonephritis, caused by certain bacteria.
Taoping (Nasdaq: TAOP)
Taoping is up 22.95% premarket after the elevator company announced it’s expanding its cloud platform for smart elevator upgrades and enhancements. This is a move to diversify its revenue base and leverage property owner relationships. The elevator market is poised to surpass $99.3 billion in 2021 and witness over 3% compound annual growth rate from 2022 to 20208.
Cloud platforms are just one of the many interesting tech companies that are changing the way we live our lives. Our friend Andy Snyder is getting ahead of this trend, and right now he’s currently predicting a $13 trillion tech boom in January 2023.
Novavax (Nasdaq: NVAX)
Novavax is down 6.30% premarket as the post-pandemic world continues to take shape. Over the past 14 days, the number of cases has fallen by a steep 29%, with a 12% fall in hospitalizations and a 6% decline in deaths, according to The New York Times. US President Joe Biden also declared ‘the pandemic is over’ in his recent 60 minutes interview.
Those are the top market movers today.
The Wake-Up Watchlist Research Team