To The Moon

1. $BridgeBio Pharma, Inc.(BBIO)$ +75.85%: analysts are positive on upbeat results from heart drug trial BridgeBio, a pharmaceutical company, experienced a significant surge in its stock price, rising as much as 70% in response to positive results from a late-stage trial of its cardiovascular disease treatment. According to a Mizuho analyst, the trial results surpassed even the most optimistic scenarios anticipated by the market. Mizuho's Salim Syed, who has a "buy" rating on the stock and a price target of $29, praised the trial data, describing it as "super clean and very consistent across measures." Based on the positive trial data, he believes that the stock has the potential to reach levels above $40. Additionally, Raymond James analyst Dane Leone also expressed confidence in BridgeBio's prospects, raising the price target on the company from $29 to $46. He maintained his "outperform" rating, indicating his belief that the stock is likely to perform well compared to the market. 2. $Black Knight Inc(BKI)$ +16.14%: BKI-ICE Merger see hopes followed by unit sale Black Knight Inc. have rallied 15% to reach as high as $70.74, bringing the difference between the current stock price and $Intercontinental Exchange(ICE)$ takeover offer of $75 per share to less than $5. This indicates growing optimism among investors and Wall Street analysts about the likelihood of the merger closing successfully. In March, US regulators challenged ICE's $11.7 billion takeover bid for Black Knight, raising antitrust concerns. However, the recent sale of Black Knight's Optimal Blue business for $700 million to Constellation Software Inc. has been viewed positively by the market and analysts. The sale was seen as an effort to address the regulators' major concerns regarding the merger. Wall Street analysts believe that the divestiture of Optimal Blue should significantly increase the chances of the merger's approval in court. The merger arbitrage community has been closely watching the Black Knight-ICE situation due to its potentially favorable risk-reward profile, attracting interest from investors such as David Einhorn's Greenlight Capital. Recent legal developments, such as the FTC's defeat in its attempt to block Microsoft Corp's takeover of Activision Blizzard Inc., have also bolstered investors' confidence in deals facing regulatory scrutiny. 3. $Upstart Holdings, Inc.(UPST)$ +13.71%: jumped on short squeeze Upstart (UPST) experienced a significant surge, rising 13.7% higher. This surge is attributed to a short squeeze, a situation where heavily shorted stocks see their prices rise rapidly, forcing short sellers to cover their positions, leading to further upward pressure on the stock. Upstart, a fintech platform, had been relying on AI to improve loan underwriting, but it faced challenges since late 2021 due to a brutal drawdown. Buyers of Upstart's loans left the platform amid concerns of high inflation and fears of a recession, leading to a decline in the stock price and a rise in short interest, with about 32.5% of shares outstanding being shorted as of the end of June. However, on the mentioned day, financial and fintech stocks, especially those sensitive to rising interest rates, saw positive movement due to better-than-expected inflation readings and strong job growth. This led to optimism over the economy, contributing to the short squeeze on Upstart ahead of earnings season.