Sports Betting and Biotech Dominate the Markets
Welcome back to Bullish Rippers! Volatility in the market is coming back down to Earth after a wild last few weeks of trading. Markets ripped upwards to the tune of 1% gains in trading today. Our Rippers list today is dedicated to the bettors and the pharma nerds out there — filled with sports betting and biotech winners. Let’s see what investors are putting money on:
💊 It’s now officially M&A SZN in the pharma space, and Immunomedics just became one of the biggest acquisitions of the year. Pharma giant Gilead agreed to acquire $IMMU for $21 billion. Along with that acquisition, $GILD is securing Trodelvy, a promising new cancer drug approved by the FDA in April which made $20 million in its first 60 days on the market. Trodelvy’s blockbuster beginnings are set to continue as Gilead tests the drug in new indications. $IMMU is up 98% on the news.
🏈 A leader in the online sports betting market is gaining traction today. DraftKings announced an integration with sports broadcast giant ESPN. The announcement makes $DKNG the “exclusive provider of daily fantasy sports and co-exclusive partner for gambling link-outs,” according to the entertainment giant. The deal means $DKNG is going to be involved in meaningful activations on the network. The news adds 17% today to a meteoric 355% rise in 2020.
🥇DraftKings isn’t the only sportsbook making moves. Penn National Gaming is coming with similarly impressive gains in trading today. $PENN is up nearly 11% today as analysts recommended buying the casino company. Earlier this year, we covered $PENN making the move into media after they acquired a considerable sum of Barstool Sports. Barstool already commands considerable influence over sports culture, so its potential to scale the sports betting service might represent radical potential.
🏠 Today in weird emerging market politics: a Chinese real estate developer is experiencing a hostile takeover at the hands of one of its largest shareholders. $NTP is up 18% after IsZo Capital, which owns 10% of the company, announced its intention to nominate a new board of directors who will prioritize shareholder causes. The director of the real estate company resigned shortly after the special meeting was called. It’s a unique departure from the kind of stories we typically see on our list, seeing as though this is notably not positive for the current board. However, shareholders are singing to a different tune.
🧪 Two other biotech companies stood out on today’s list: the bizarrely named Applied Molecular Transport began dosing for its mid-stage clinical drug for ulcerative colitis. On the flip, the very ‘new age’ sounding biotech Turning Point Therapeutics received accelerated approval from the FDA for its cancer drug repotrectinib. $AMTI and $TPTX are both up 13% today.
That’s a wrap on our Monday Rippers list. Check back on Wednesday to get the scoop on what’s moving 📈📈📈