Bullish Rippers: Breaking Down Biotech, Apparel, Logistics and Industrial Machinery
🔥 Happy Monday from Bullish Rippers 🔥 Stocks made small gains today, adding a little to a multi-week rally – so let’s get right to it ⬇️
🧪 Today’s biggest Rippers are two biotech companies: Sorrento Therapeutics and Allovir. $SRNE is an opportunistic biotech with its hands in a large variety of cancer and pain treatments. At the start of the pandemic, $SRNE declared they would be producing a large variety of COVID-related products. It is up 32% today as investors await results of their lead candidate COVID-19 test. Allovir, a newly IPOed company focusing on creating drugs to stop life-threatening infections, is also in the mix. Most of their nearly 19% pop today is attributed to post-IPO demand.
🛠 Industrial machinery companies Altra Industrial and Cummins also made today’s list. Designer and producer of motion control and power solutions $AIMC grew 12% today without attributable reason. On the other hand, Cummins announced a long-term agreement with Naivstar today – just two weeks after reporting great earnings. $CMI is largely in the business of building traditional combustion engines, but a year ago the company started investing in electric and hydrogen alternatives. With this being relatively attractive to investors, they’re up 5% today.
🔌 Speaking of engines, Plug Power was off to the races on today’s list. $PLUG is up nearly 7%, continuing to ride a high after positive earnings last week. $PLUG is transforming into a profitable and growing company at a much faster rate than originally expected. Hydrogen and electric power might be a high yield, high competition space in the years to come – so don’t forget about this one.
🛍 L Brands made a reappearance today after being notoriously heartless last week (that’s code for: laying off hundreds of employees to appease investors). After announcing their intent to lay off 15% of their corporate workforce, $LB has climbed back to its pre-coronavirus highs – nearly 90% off the floor where they were before their last feature on our list. They popped nearly 6% today.
📫 $FDX jumped 9% today after announcing their intent to raise holiday shipping fees. Competitor UPS did this as well. This comes amidst a meltdown of the United States Postal Service, which has come under immense financial scrutiny throughout the Trump administration. There’s a lot of companies who could benefit if USPS were to be defunded or go out of business. However, it’s hard telling what could happen in the logistics space given the political conditions. This is one to keep an eye on.
That wraps our Monday Rippers list. Tune in on Wednesday to see more about the stocks hitting their mid-week stride 🏃♂️