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Moderna Inc – Presented new data after the close yesterday on its mrna-1273 covid-19 vaccine showing high efficacy against covid-19 remains after 1 year. The data also showed low risk of breakthrough infection in participants suggesting a third shot booster is highly viable.
Beyond Meat – Shares of the plant-based meat producer are trading near 4 month lows premarket after brokerage Piper Sandler downgraded the stock to “underweight” from “neutral”; slashes PT to $95 from $120, implying a downside of 14.3% to BYND’s last close. The report says BYND’s current retail momentum lags expectations, estimating that shipments historically exceeded retail consumption by $6 mln-$7 mln a quarter through Q1 2021.
Tesla Inc – Lower in early trading after an impressive rally Wednesday, according to daily trade updates Cathie Wood’s ARK Invest sold about $128 mln worth of Tesla shares in the past two days. The flagship ARK Innovation ETF ARKK.P alone dumped about 140,530 shares in the electric-car marker on Tuesday and Wednesday.
Casino Stocks – Lower for a third straight session as casino stocks with Macao operations remain under pressure, local authorities continue to weigh tighter regulations on Macao’s gaming industry. More downgrades on the group today. WYNN, MGM, LVS
IronNet Inc – The cybersecurity focused recent SPAC conversion remain on watch after yesterday’s monster squeeze. The company on Tuesday reported quarterly results and provided a forward looking forecast that were both inline with expectations. The company has a $2.01b market cap and a 46m share free float.
The Metals Company Inc – Another recent SPAC conversion, Canadian based deep-sea minerals exploration company, focused on metal recovery from polymetallic nodules to support demand from battery and electric vehicle production.
Dutch Bros Inc – Made a successful debut on the NYSE yesterday, backed by private equity firm TSG, rose over 41% in their stock market debut on Wednesday, valuing the coffee chain at $5.36 billion.
ON Holdings AG – Shares of the Roger Federer-backed Swiss sneaker company popped 50% on debut in New York on Wednesday, giving it an $11 billion valuation. With plenty of rivals on its heels and potential political headwinds in China, it may be priced for a sprint, not a marathon. The tennis great bought a stake in the 11-year-old company two years ago. Since then, its track record is stellar, powered mainly by the pandemic boom in running. Sales have grown 60% a year, and the pace may have picked up even more this year – revenue in North America, On’s biggest market, doubled from a year ago in the first six months.
Leap Therapeutics – Set to open at a near 3-year high after the company presented additional data, showing the effectiveness of its experimental antibody, DKN-01, when administered with BeiGene Ltd’s drug tislelizumab and chemotherapy, in patients with gastric or gastroesophageal junction cancer.
Offerpad Solutions Inc – Shares of the home selling platform are trading higher premarket after it’s unit, Offerpad SPE Borrower A LLC, entered into a credit agreement on Sept. 10 according to a regulatory filing. The agreement provides $300 million credit facility over 24 months, Co debuted on the NYSE on Sept. 2 after completing merger with special purpose acquisition co Supernova Partners Acquisition Co Inc.