Biotech Company Pops After Filing Patent
Good morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures rose for the first time in five days on Thursday. Recession worries and potential rate hikes from the Federal Reserve are making for a downbeat December, a historically positive month for stocks. This latest rise could be temporary relief as we await the Federal Reserve’s next announcement.
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Here’s a look at the top-moving stocks this morning.
My Size, Inc. (Nasdaq: MYSZ)
My Size, Inc. is up 65.23% premarket after announcing a one-for-twenty-five reverse stock split to its Board of Directors. Starting on December 9, 2022, the company’s common stock will trade on the Nasdaq Capital Market on a split adjusted basis under a new CUSIP number 62844N 307.
Icannex Healthcare Limited (Nasdaq: IXHL)
Icannex Healthcare is up 11.74% premarket after the pharmaceutical company filed a provisional patent application directed to the use of IHL-42X. The drug is intended to treat Obstructive Sleep Apnoea. The company will also look to pursue additional patent protection for its IHL-42X clinical program and accrue a patent position across development and manufacturing.
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Ciena Corporation (NYSE: CIEN)
Ciena is up 11.01% premarket after reporting strong earnings for the fourth quarter. The software company reported revenue for the fiscal year came in at $3.63 billion, as compared to $3.62 billion for fiscal year 2021. Gary Smith, CEO of Ciena, cited ‘favorable supply chain developments’ in the second quarter as the reason for the strong quarter.
Park Hotels & Resorts (NYSE: PK)
Park Hotels & Resorts is up 5.82% premarket after announcing a fourth quarter dividend of $0.25 per share of common stock. The dividend will be paid in cash on January 17, 2023 to holders of record as of December 30, 2022.
Are you prepared for a possible recession?
Nothing is a sure thing in the stock market. However, there’s a possibility we could be headed for more economic pain in 2023 after a rough 2022. But that doesn’t mean you have to lose money. That’s why we want you to know about inflation-proof assets like gold and other precious metals.
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Those are the top market movers today.
Happy trading!
The Wake-Up Watchlist Research Team