This Biotech Firm Just Blasted Off!

Good morning, Wake-Up Watchlisters!

Hope your morning ritual, whatever it is, wherever you are, did not wake up the kids, those wee morning hours (30 minutes?) of silence are golden.

We’ve got another exciting day in the markets ahead of us, the minutes from the Fed’s latest monetary policy meeting will be released and key inflation data is lined up to come out tomorrow.

Investors and analysts are once again focused on interest rate hikes and inflation numbers, but oil is another hot topic.

Some are concerned that a slowing economy, reduced energy demands, and the strength of the dollar could push oil prices down. While others are more worried by last week’s announcement that OPEC will be tightening their collective production target, sending oil prices up. It’s a real push-me pull-you type situation.

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Now, let’s take a look at the top-moving stocks this morning.

SELLAS Life Sciences Group (NASDAQ:SLS)

SELLAS Life Sciences is up 42.22% premarket. The biopharmaceutical company which focuses on the development of cancer indications, and treaments announced yesterday the successful dosing of the first patient in its Phase 1 clinical trial in China. The treatment galinpepimut-S, or ‘GPS’, targets a specific protein which is present in many cancerous tumors and has potential to help those with cancer live longer and better lives. The American Cancer society estimates 1.9 million new cancer diagnosis in 2021 alone, new treatments could change the lives of 10’s of millions of people.

The medical sector has a history of major breakthroughs and thus – major gains in the stock market. Our friend Alexander Green is pounding the table on one specific medical stock right now – and you can get in on it for less than $3.

Agrify (Nasdaq: AGFY)

Agrify is up 25.24% premarket. The company is a ‘pick and shovel’ cannabis stock, providing hardware and software for cultivation extraction and testing to cannabis and hemp growers across the country. After President Biden’s announcement of federal pardons for simple marijuana offenders and reconsideration of cannabis as a schedule 1 substance, there has been a major buzz in the industry. The potential for federal legalization of the weed has never been higher, and investors are looking for opportunities to get in before the doors blow open.

Cameco Corp. (NYSE: CCJ)

Cameco Corp. is down 11.70% premarket. Shares dropped after the company, along with Brookfield Renewable Partners (NYSE: BEP) agreed to acquire Westinghouse Electric. Cameco committing $2.2 billion to the deal will own 49% of the nuclear services businesses while Brookfield and their committed $2.3 billion will own the other 51%. Westinghouse services about 50% of all nuclear plants globally. A partnership between the three, a Uranium supplier in Cameco, a nuclear plant servicer in Westinghouse, and a clean energy specialist with Brookfield could be incredibly powerful. However, there is a lot of risk associated with the venture that obviously has shareholders worried.

Vox Royalty (Nasdaq: VOXR)

Vox Royalty is down 16.88% premarket. The mining royalty company on Monday moved its listing from the over-the-counter group OTCQX onto the Nasdaq. That listing change brought along with it some monster gains, sending shares from around $2.50 all the way up to $5 that day. Those gains were short lasting, shares have since plummeted below $2 in the premarket today. CEO Kate Floyd is unbothered by the volatility in the stock and is firm in her stance that this listing change is another step towards enhancing shareholder value.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team

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