AMC Entertainment(AMC) andAMC’s Preferred Equity(APE) stock are rallying in anticipation of this weekend's National Cinema Day. It's the first #NationalCinemaDay and tickets will be discounted to just $3 apiece. For what is notoriously a slow weekend, investors hope this acts as a catalyst to drive customers into theaters -- and drive movie theater stocks higher. The stock market is going a bit haywire ahead of the long holiday weekend, but investors inAMC Entertainment(NYSE:AMC) have something to cheer about. The stock has turned higher on the day, led byAMC’s Preferred Equity(NYSE:APE) stock. At one point today, APE stock rallied more than 24%.That helped lift AMC stock out of the red, as shares were down more than 2.5% in early trading. However, the stock is now up by a similar amo
Nasdaq-listed Bright Minds Closes $4 Million Offering
Biopharma company developing next-generation mental health treatments Bright Minds Biosciences Inc.DRUGhas closed its overnight offering for gross proceeds of approximately $4 million. The company also announced it will start dosing patients in the trial of proprietary compound of BMB-101 for Dravet Syndrome, a form of child epilepsy.The OfferingThe offering was composed of 2,858,000 units at $1.40 per unit. Each unit is equivalent to one common share in capital and one common share purchase warrant, while each warrant may be used to acquire one common share at $1.76 per warrant until August 30, 2024.Bright Minds is set to use all the net proceeds for preclinical and clinical development activities as well as general working capital.BMB-101 For Dravet SyndromeThe company’s portfolio of ser
$Bed Bath & Beyond(BBBY)$Professional analysts are telling meme investors to get out while they can. The average price target of 18 analysts surveyed by FactSet recently was$3.70 per share.But onReddit’sr/WallStreetBets, speculators still talk of a short squeeze or a bullish announcement and are telling small investors they shouldHold on for Dear Life (HODL). These traders are unlikely to be convinced by the analysts’ warnings.
$XPeng Inc.(XPEV)$ For Q2, Xpeng reported anet loss of 46 cents per share, worse than the loss of 32 cents Wall Street analysts had expected. However, the Chinese EV maker also reported an 87% sales increase to $1.1 billion in Q2. That outpaced expected sales growth of 85% to $1 billion, according to data from FactSet.Xpeng also did well for Q2 deliveries, which grew 98% to 34,422 vehicles. The company’s July sales of 11,524 vehicles increased 43% year-over-year (YOY) and surpassed rivals likeLi Auto(NASDAQ:LI) andNio(NYSE:NIO). So far, deliveries for the year are up 108% to 80,507 vehicles.Xpeng currently sells a total of three EVs, with the new G9 electric sedan due in showrooms before the end of 2022. The company is already taking reservations for
$Grab Holdings(GRAB)$The fall of Grab stock is obvious. It is a growth company and those aren’t in fashion. It is unprofitable and that is not what Wall Street wants. The quarter numbers,also displeased some analysts, who began questioning the growth thesis.On the other hand, Grab operates within a vast, fast-growing market. It offers the kinds of online services that are proven to work elsewhere. That may be why 8 of the 9 analysts following Grab at Tipranks tell people to buy it. The one seller has a price target of $4.50 per share. Even if it hasn’t bottomed, it is close to it.
It seems that there’s a soap opera going on betweenUnity Software(NYSE:U),AppLovin(NASDAQ:APP) andironSource(NYSE:IS). Last week, AppLovinbid to buy outUnity Software. Then, this morning, it was revealed that Unityrejected AppLovin’s buyout bid. Also, ironSourcereaffirmed its commitmentto merge with Unity, a transaction that hasn’t actually happened but could be more likely now.$Unity Software Inc.(U)$
$Mind Medicine (MindMed) Inc.(MNMD)$StockTalk Weeklysaid it has issuedthree alertson MindMed since Aug. 10. In the short term, it’s ashort-squeeze memelikeBed Bath & Beyond(NASDAQ:BBBY), which is down 19% after Ryan Cohen, who had kicked off its rally, filed to sell his stake in the retailer.
$Upstart Holdings, Inc.(UPST)$Looking forward, UPST stock investors will also want to keep close tabs on the Federal Reserve. While the tech sector isn’t benefitting from the surge, theJuly jobs report came in well above expectations. Ordinarily, that represents fantastic news. But the resilience of the labor market also translates to higher wages, which in turn means more inflation.With the Fed already acting aggressively relative to modern monetary policy standards, further tightening of the spigot could mean a sharp lift in borrowing costs. That would not be helpful to banking institutions, representing a worrying dilemma for UPST stock.
With big names continuing to struggle, there are discount stocks to buy out there that may not stay this cheap for much longer.The stock market is rife with opportunity currently. That opportunity is a product of fear that continues to grip the markets. Remember, there are two sides to every story. So, rather than allowing fear to dictate inaction consider Warren Buffett’s advice: “Be fearful when others are greedy and greedy when others are fearful.”That contrarian wisdom indicates that discounts abound. The devaluation of tech stocks is a major part of the story. That’s one area where massive opportunities continue to exist. But it isn’t the only one. Overall, successive rate hikes from the Fed are sparking renewed fears that have affected the entire market.That means those who choose gr