GameStop Gets Saved, J.P. Morgan Has A New “Long-Term Winner” and A Gene Editing Company Makes Major Gains
Happy Thursday! Some of y’all may have noticed we updated the Rippers schedule, with Thursday now the spot you can find our end-of-week list. We’re tackling some of the biggest movers of the week, so let’s get right to it ⬇️
🕹 GameStop is back after its first appearance on our list a few months ago when an activist investment firm took a sizable stake in the company. The retail gaming and electronics company has been hammered by the advent of digital gaming stores, largely due to their antiquated business model. The stock has taken off nearly 200% amidst the activist investment, a new partnership with Microsoft focused on store management and downsizing of their existing stores. While no meaningful modifications to their business model have come to fruition yet, $GME up 13% today.
🚗 Electric vehicle company $NIO continues to add points to its meteoric gains. The Chinese automaker was chosen by J.P. Morgan to be the “long-term winner” in China’s EV maker, and Citigroup boosted their target by 83% after recommending a buy. Given their propensity to expand in the Chinese market and abroad, $NIO is shaping up to be a powerful player in the marketplace. They’re up over 1,000% this year — 30% today.
🧬 The gene editing company Beam Therapeutics, which uses the CRISPR platform, was our biggest rip of the day. The company recently won a Nobel Peace Prize, and in even more exciting news was featured on last week’s Rippers. $BEAM targets a number of indications relating to cancer, liver, eye and blood disorders. Though they’re still pre-clinical, some of the company’s novel delivery platforms are attractive to investors looking to hedge bets on the future of medicine. The company is up 16% today.
That wraps our Rippers list for the week! Check back in with us on Sunday for our next list and a look forward to the week ahead 📈📈📈