Stock Split Leads to Double Digit Gain

Good morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures dipped again Friday. Fears of more aggressive Federal Reserve policy led to a big weekly loss. Treasury yields also continue to climb to fresh highs and analysts are weighing the possibility that a recession is inevitable.

As stocks continue to drop, it’s vital to find value companies that will be still standing when the smoke clears. That’s why our Head Fundamental Tactician Karim Rahemtulla is pounding the table on what he’s calling ‘The Last Great Value Stock.’ This company is trading at less than $2, so it’s cheap. Even better – the currency is at 40 year lows, making this value stock even cheaper through no fault of its own.

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Top Ships Inc. (Nasdaq: TOPS)

Top Ships is up 34.58% premarket after the company announced a 1-for-20 reverse stock split. The split is expected to take effect today under the existing ticker symbol ‘TOPS.’ When it takes effect, every 20 shares of the Company’s issued and outstanding commons tock will be automatically combined into one issued and outstanding share of common stock.

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T2 Biosystems (Nasdaq: TTOO)

T2 Biosystems is up 15.43% premarket after the leader in antibioitic resistant genes today announced the execution of a territory exclusive distribution agreement in the Baltic Region, including Lithuania, Latvia, and Estonia. This will further expand T2 Biosystems’ commercialization.

Paysafe (NYSE: PSFE)

Paysafe is up 3.40% premarket after the payment processor announced a new partnership with Spreedly, a global payments orchestrating platform provider. The agreement will allow Paysafe access to Spreedly’s international merchant base. This includes 120+ available integrations from a single point of connection.

Norwegian Cruise Line Holdings (Nasdaq: NCLH)

Norwegian Cruise Line Holdings is down 4.80% premarket as the cruiseliner industry reels from the Federal Reserve’s latest announcement of a 75-basis-point increase. Interest rate hikes will have double the impact on cruise companies. First, travelers will be less inclined to spend money. Second, cruise lines took on billions of dollars in debt just to survive the pandemic, which means higher expenses when that debt needs to be refinanced.

The way we travel is undergoing a major shift. Right now our friend Andy Snyder is talking about ‘The ONE electric vehicle stock that could help fund your retirement.’ It’s a $25 startup and Inc. magazine called it ‘Tesla’s worst nightmare.’

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team