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BioCryst Pharmaceuticals, Inc. (BCRX) broke out with big volume the last two days. Monday’s breakout and pullback was an opportunity, and on Tuesday, it ran right back up from about 2.35, popping 41 cents, or 17 1/2%, to 2.76, with a session high of 2.95, on 23 million shares traded, and an additional 11 cents, or 4%, to 2.87 in after-hours. It looks to me like it may be headed to test 3.40 and 3.60.
Bloom Energy Corporation (BE) continued breaking out across the prior high and into the gap on Monday, popping 1.36, or 23%, to 7.30, not far off the late session high of 7.41, on 4.2 million shares traded. There’s a 50-day moving average above it at 7.84. If it gets through that, it can make a much bigger move to 9, and then 10.
Brooks Automation, Inc. (BRKS) ran up on a breakaway and closed at the upper end of the range, jumping 4.12, or 13 1/2%, to 34.72, not far off the session high at 34.86, on 1.9 million shares traded. That’s the best volume on this stock in more than a year. The next targets are 36 and 38.
GameStop Corp. (GME) was up 1.21, or 25 1/2%, to 5.95, after reaching a session high of 6.57, on 13.4 million shares traded, and another 40 cents, or 8%, to 6.44 on Tuesday in after-hours. I don’t know what’s going on with this stock, but it has moved up non-stop for six sessions in a row, going from 2.84 to 6.57, 150%, or thereabouts, and right at resistance. It may need to back and fill, but it has tremendous momentum. I wouldn’t be surprised to see it run to 7 1/4-1/2.
MEI Pharma, Inc. (MEIP) exploded 83 cents, or 50%, to 2.50, with a session and multi-week high of 3.64, on a whopping 47 million shares traded. That kind of volume is unheard of for this stock. I think the pop and explosion to 3.64, and the pullback to 2.20, is a potential entry opt to move back up to 3-3 1/4, and then maybe 4 1/2-5.
Summit Therapeutics plc (SMMT) popped and coiled, and then on Tuesday, it exploded 91 cents, or 28%, to 4.19, reaching a session and multi-week high of 5.47, on 3.4 million shares traded. It’s been up for seven days in a row. If it does extend, there’s a possibility it will make it as high as 8 3/4-9. I’ll be watching this one carefully.
Stocks on the long side included Advanced Micro Devices, Inc. (AMD), Alpha Pro Tech, Ltd. (APT), Axsome Therapeutics, Inc. (AXSM), BioCryst Pharmaceuticals, Inc. (BCRX), Bloom Energy Corporation (BE), Brooks Automation, Inc. (BRKS), Compugen Ltd. (CGEN), Coty Inc. (COTY), Carvana Co. (CVNA), Endo International plc (ENDP), Extreme Networks, Inc. (EXTR), GameStop Corp. (GME), Inseego Corp. (INSG), Iovance Biotherapeutics, Inc. (IOVA), Direxion Daily S&P Biotech Bull 3X Shares (LABU), Limelight Networks, Inc. (LLNW), Livongo Health, Inc. (LVGO), MEI Pharma, Inc. (MEIP), Moderna, Inc. (MRNA), Neoleukin Therapeutics, Inc. (NLTX), Sunnova Energy International Inc. (NOVA), Overstock.com, Inc. (OSTK), Penn National Gaming, Inc. (PENN), Roku, Inc. (ROKU), Summit Therapeutics plc (SMMT), Virgin Galactic Holdings, Inc. (SPCE), Teladoc Health, Inc. (TDOC), and Trillium Therapeutics Inc. (TRIL).