A few quick UPDATES

 

UPDATES

TGTX: Today the company announced Positive Topline Results from the Phase 3 Studies for the Treatment of Patients with Multiple Sclerosis (MS) disease. The results seems outstanding. It plans to release details data in Q1 2021 and plan to submit for FDA approval in first half of 2021. The stock went was up 41% today. I still feel this company has the scope to go further up. 

EDIT: Gene editing company went up 32% today and has been on the upward move this week (up almost 90%).  The company released its data on Sickel Cell patients and Wall Street expects it to be promising. The stock may still  go up but could be risky unless somebody keeps a long term perspective.

NIO: issuing 60 million shares as secondary offering at a price of $44.01. We may see a small correction here. It may give the opportunity to add to position.

IPO Market is parabolic: The IPO market is parabolic and getting scary!! For example, Airbnb (ABNB) went public today and and reached $100 billion market. Its market cap is larger than Hilton + Marriot + Expedia combined. Home delivery company DoorDash (DASH) has a market cap of $70.3 billion!! More than double of Hilton group. Only time will tell how these companies will do in future but I am very apprehensive and stay away from buying such IPOs on an open market.

Jobless claims and COVID-19 vaccine: The jobless claim shots today up but congress does not seems to care to make a deal!!  It’s unfortunate to see so many people are out of food due to pandemic. The good news is COVID-19 vaccine has been recommended by the advisory committee and should be approved by FDA anytime. 


Disclaimer: These are just my personal opinion and NOT a recommendation to buy/sell any equity. I am not a financial advisor. 

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