![]() Neither of these announcements is enough, separately or together, to move the stock by a lot. Progenity also said it would issue 427,804 shares to investors in exchange for a waiver of lock-up provisions. The company filed a report with the Securities and Exchange Commission on Monday announcing that it has agreed with certain lenders to exchange $20.2 million in debt for 8.5 million shares of common stock. ( NASDAQ: PROG) closed up more than 14% on Monday and traded up another 20% in Tuesday’s premarket. More than 110 million shares were traded Monday, nearly 20 times more than the daily average of about 6 million. According to Fintel data, short interest in the stock is around 16.5%. The company announced a conference call for Wednesday morning “to discuss a positive business development.” One commenter on WallStreetBets recalled that the company had done this before with a notable lack of results. Genius Brands licenses and creates multimedia content for children. The shares added 51.5% on Monday but gave back more than 10% so far Tuesday morning. Monday’s other big mover was Genius Brands International Inc. Short interest in Bakkt is unavailable, but it can’t have been enough to generate a big part in this rocket ship. Trading volume was around six times the daily average of about 36 million shares. Bakkt, a cryptocurrency custody provider, announced deals with Mastercard and Fiserv that sent shares soaring. The shares are trading up another 61% in Tuesday’s premarket. ( NYSE: BKKT), which added 234% to its share price on Monday, to jump from $9.15 to $30.60. There were a couple of big movers on Monday that aren’t included in our basket, but the moves were large enough to warrant a look.įirst up is Bakkt Holdings Inc. Our basket of meme stocks marched in step with the higher close Monday. Facebook traded higher after missing revenue estimates, thanks to a $50 billion addition to its share buyback program, and we’ll get earnings after markets close from Alphabet, Microsoft, Robinhood, Twitter and Visa. Crude oil has risen above the $84 mark again, and 10-year Treasuries have eased by a couple of basis points. The enthusiasm for equities continued Tuesday morning, with all three major indexes trading higher in the premarket by at least 0.3%. markets closed higher on Monday, with both the Dow Jones industrials and the S&P 500 setting intraday and closing highs.
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