U.S. stock indexes finished marginally higher Tuesday after a late fall erased early-day gains. Technology companies recovered some of the losses from Monday, but energy and bank stocks slipped.
The day produced volatility that proved an excellent playing ground for the NewsQuantified platform, which continued to note numerous news-events that drove substantial stock price reactions. Each of these reactions can be captured with a smart news-based trading strategy.
Today’s Top Performer gains were particularly explosive—all in double digits on the session—and spread out among long and short plays.
GNCA announced strategy changes Monday that were met with an icy wall of skepticism from financial analysts on Tuesday. Their collective pessimism sent GNCA spiraling down: over 50% since the initial downgrade event (from Stifel Capital) recorded by our platform. Stifel, for instance, brought their price target from $15 down to $2.50.
GNCA, a pharmaceutical company, shelved development of its once promising GEN-003 therapy. It will shift focus toimmuno-oncology and the development of neoantigen cancer vaccines. As part of this shift, it will slash its workforce by 40%.
Proving that investors don’t reject all restructuring efforts, ACTA jumped sharply after announcing it would sell 3 of its majority-owned businesses for a total of $472 million, at a minimum, in cash. The majority of this cash will be paid out directly to shareholders. The deal represents a solid ~20% premium on current stock prices.
Actua remains in the process of winding down its overall operations. They are limiting cash outlays and now proceeding to find optimal shareholder value for their minority business stakes.
ACTA is a cloud-services provider in multiple verticals.
DelMar Pharmaceuticals specializes in the development and commercialization of novel approaches for cancer patients who have limited treatment options. They do so by focusing on understanding tumor biology and underlying mechanisms of treatment resistance.
Their stock jumped double digits, around 14% at the time of this writing, after their CEO publicly discussed the future of their VOL-083 chemotherapy treatment, currently in clinical trials. Investors were convinced by the timeline and data points provided and piled into the stock.
Diverse Plays, Great Profits: All in a single news day.
A powerful news analytics platform like NewsQuantified not only makes it easy to track the news, but to quickly compare news events with key financial information.
Today’s plays make the power of this news-based trading approach clear. No small investor could be expected to track all these companies, diverse across industry, market cap, and valuation.
Yet they were all at the top of a single easy to use dashboard in the NewsQuantified platform. We make it simple to find strong, diverse plays in any market environment.
Click here to sign up for a free training today. You’ll see how easy to use our platform really is—and how many profitable trades it can unlock.