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Biotech Curis, Inc. (CRIS) had a monstrous breakout on Tuesday on 324 million shares traded shares traded and a nice follow-through on Wednesday, popping 1.14, or 17.4%, to 7.69, with a session high of 8.36, on 94.2 million shares traded. It did not close at the upper end of the range, and may need to consolidate, but I think it will work its way higher to at least 11.00.
Switchback Energy Acquisition Corporation (SBE) is another stock going bonkers after pulling back and spiking back up. On Wednesday, it ran up 4.44, or 11.5%, to 43.00, and a new session high of 44.41, on 12.4 million shares traded, but has already dropped 1.00 to 42.00 in after-hours. Nevertheless, it looks like momentum could carry this above 50.
Syndax Pharmaceuticals, Inc. (SNDX) reversed sharply on Wednesday and off the retest of the channel moved up 1.75, or 7.29%, to 25.75, with a session high of 26.60, on 2.3 million shares traded. I think now we’re going to see 30.00, and then 35.00.
Tuscan Holdings Corp. (THCB) exploded from marijuana. After popping, pulling back, and forming a large wedge, it exploded with a breakaway gap on Wednesday, with a move up of 4.42, or 34.59%, to 17.20, and a session high of 17.39, on a heavy 24.5 million shares traded. It may need to back and fill in here, but it has strong momentum. I’m looking for 19-20.00 going forward.
17 Education & Technology Group Inc. (YQ) went vertical after the IPO. It was up nearly seven and a half points on Tuesday, and then on Wednesday, it jumped another 5.12, or 34%, to 20.18, with a session high of 23.92, on 15 million shares traded, and 21 cents to 20.39 in after-hours. It may be a little near-term over extended, perhaps. It has 150% phrase since the IPO, so be careful here. Let’s see if it can get a set-up for more upside.
On the long side, stocks included Curis, Inc. (CRIS), Contura Energy, Inc. (CTRA), Evelo Biosciences, Inc. (EVLO), Hennessy Capital Acquisition Corp. IV (HCAC), Liquidity Services, Inc. (LQDT), Mohawk Group Holdings, Inc. (MWK), Intellia Therapeutics, Inc. (NTLA), Owens & Minor, Inc. (OMI), Occidental Petroleum Corporation (OXY), Personalis, Inc. (PSNL), QuantumScape Corporation (QS), Rocket Pharmaceuticals, Inc. (RCKT), Switchback Energy Acquisition Corporation (SBE), Sleep Number Corporation (SNBR), Syndax Pharmaceuticals, Inc. (SNDX), Stratasys Ltd. (SSYS), Tuscan Holdings Corp. (THCB), ViewRay, Inc. (VRAY), Xenetic Biosciences, Inc. (XBIO), and 17 Education & Technology Group Inc. (YQ).