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Crypto Stocks – Higher as a group this morning as bitcoin BTC crossed the $50,000 mark over the weekend for the first time in three months, the largest digital currency was last up 2% while ether ETH is trading above $3,300 – both are at their highest levels since mid-May. BTBT, SOS, MARA, RIOT, SI, MSTR, COIN, BTCM, ANY

HOOD.NQ 3.40%
Robinhood Markets Inc – Trading higher in the premarket as one of the lead bookrunners for the company’s IPO, starts coverage at “underweight” and $35 PT, JP Morgan analysts said “We see investor recognition of HOOD’s success priced into the value of the shares. Furthermore, we see a number of risks including regulation, pricing, and market saturation” – JPM. Citigroup starts at “buy” and $63 PT, saying it sees growth declining ahead but shares have accounted for this, and risk of regulatory headwinds is “unlikely to be material”

Uber/Lyft – Both are sharply lower in early trading after a California judge ruled on Friday that a 2020 ballot measure that exempted ride-share and food delivery drivers from a state labor law is unconstitutional. The court ruled that the measure infringes on legislature’s power to set workplace standards. Gig economy companies like UBER, LYFT, Doordash DASH.N and Instacart were pushing to keep drivers’ independent contractor status, albeit with additional benefits.

INTC.NQ 0.71%
Intel Corp – Trading higher after announcing it has secured a U.S. Department of Defense (DoD) project to provide commercial foundry services for the first phase of the DoD’s multi-phase program called Rapid Assured Microelectronics Prototypes – RAMP-C was created to incentivize the use of a U.S.-located commercial semiconductor foundry ecosystem to meet the DoD’s leading edge microelectronics fabrication needs for its systems. Intel said the Foundry Services, launched this year, will lead the work to establish a domestic commercial foundry infrastructure.

GM.NY -1.89%
General Motors Co – Will take a $1 bln hit to expand the recall of its Chevrolet Bolt electric vehicles due to the risk of fires from the high-voltage battery pack. This comes on top of $800 mln in costs from previous Bolt recalls, the latest of which covers 73,000 vehicles from model years 2019 through 2022. In July, GM issued a recall for nearly 69,000 Chevrolet Bolts for fire risks after reports of two fires.

BNTX.NQ 6.96%
BioNTech SE – Higher along with vaccine partner Pfizer after the UK said it will deliver the pair’s covid -19 vaccine starting in the second half of 2022, also inked a deal for 35 million doses.

JD.NQ 0.82% – The Chinese e-commerce site posted better-than-expected profit and revenue for the second quarter while adding a record number of new users.

ORPH.NQ 15.37%
Orphazyme AS – The Danish biotech company posted results from the trial of its key drug candidate for a genetic disorder Niemann-Pick disease type C, two months after it was rejected in the U.S. Orphazyme said the Phase 2/3 trial for drug arimoclomol showed a “statistically significant and clinically meaningful” treatment effect.

PSTV.NQ 18.56%
Plus Therapeutics – Presented positive data Friday for a phase 2/3 trial on an experimental treatment for a rare pediatric brain cancer.

AXSM.NQ 22.77%
Axsome Therapeutics – Said on Monday the U.S. Food and Drug Administration (FDA) was not able to complete its review of the company’s drug to treat major depressive disorder by the target action date of Aug. 22. The company said the FDA did not request additional information, adding that the review of the application for the drug AXS-05 was ongoing.

VVOS.NQ 61.46%
Vivos Therapeutics – FDA Grants 510(k) market clearance to Vivos Therapeutics’ mRNA Oral Appliance for treating mild to moderate sleep apnea.

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