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1. $American Superconductor(AMSC)$ Surges 142.76% on High-Tc Superconductor Breakthrough with LK-99 Simulation
In pre-market trading, American Superconductor Corporation has seen 100% rise in its stock price, reaching $24.49.
The simulation of the superconductor LK-99, conducted by Lawrence Berkeley National Lab and published in arXiv, has shown promising results by demonstrating high-Tc (critical temperature) properties.
High-Tc superconductors are materials that can conduct electricity without resistance at relatively higher temperatures, which is significant as traditional superconductors require extremely low temperatures to exhibit such behavior.
The discovery of high-Tc properties in LK-99 opens up new possibilities for future research and development in the field of superconductors.
It should be noted that T $American Superconductor(AMSC)$ will release its earnings report for its fiscal first quarter of 2023 on Aug. 9.
2. $Yellow Corporation(YELL)$ Soars 148.97% Amid Financial Crisis, Hedge Fund MFN Partners' Large-Scale Investment
The stock of trucking company Yellow Corp. more than doubled on Monday, experiencing its biggest one-day gain since going public in June 1983. This surge occurred despite Yellow is facing significant financial difficulties, including the layoff of 30,000 workers and the possibility of filing for bankruptcy.
The news of the potential bankruptcy was expected, especially after the company missed a deadline for a benefits contribution, leading to preparations for a strike.
The surge in YELL stock could be influenced by various factors, including short squeeze momentum and the large-scale investment from hedge fund MFN Partners.
Hedge-fund manager MFN Partners LP acquired 12.8 million shares (24.6% of shares outstanding) last week, in addition to its beneficial ownership of 5.7 million shares disclosed on July 26.
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