24/7 Market News Weekly Wrap 29 Jan 2024
DENVER, Colo., Jan. 29, 2024 (247marketnews.com)- 24/7 Market News covered the following companies today; SoFi Technologies Inc (NASDAQ:SOFI), OneMedNet Corp (NASDAQ:ONMD), Revelation Biosciences Inc (NASDAQ:REVB), Lucid Group Inc (NASDAQ:LCID),
There were a bunch of momentum runners in this morning’s premarket, but we’re trying to cover more actionable news, so our week started with SoFi Technologies Inc (NASDAQ:SOFI), which reported its fourth quarter and fiscal year 2023 results. We’ve covered SoFi several times before and it seems to always deliver. It was trading at $8.34, up $0.72 (+9.45%), on 5.5M shares traded, when we covered today’s news.
SoFi opened the regular trading session at $8.82, hit a high of $9.45, and closed at $9.16, up $1.54 (+20.21%), on 286.3M shares traded. The volume alone is enough to warrant keeping it on your radar, just in case they weren’t able to deliver the shares to close out some trades.
SoFi Technologies is a member-centric, one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. The company’s full suite of financial products and services helps its more than 6.9 million SoFi members borrow, save, spend, invest, and protect their money better by giving them fast access to the tools they need to get their money right, all in one app. SoFi also equips members with the resources they need to get ahead – like career advisors, Credentialed Financial Planners (CFP), exclusive experiences and events, and a thriving community – on their path to financial independence.
We covered OneMedNet’s (NASDAQ:ONMD) participation as an exhibitor at the 15ᵗʰ Annual SCOPE Summit announcement, when it was trading at $1.03, up $0.50 (+92.67%), on 20.6M shares traded. It went on to hit a high of $1.65 and closed at $1.37, up $0.8592 (+168.21%), on 77.6M shares traded.
OneMedNet was the first company to trademark a RWD offering through its OneMedNet iRWD solution that utilizes AI to securely de-identify, search, and curate imaging data for the benefit of its partner network consisting of medical and academic research institutions to generate progression in stages of medical research, discovery and diagnostics that span the field of life sciences. OneMedNet integrates AI and other digital technologies into their existing development processes to enhance data anomaly detection, standardization, and quality checking at the pre-processing stage. AI offers OneMedNet’s partners and customers the ability to increase meaningful Real World Evidence output, decrease time to insights, and make the most of the available vast data sources.
Website: www.onemednet.com
We reminded readers that Rail Vision (NASDAQ:RVSN) is still running when it was trading at $11.04, up $1.54 (+16.21%), on 810K shares traded. This jumped on EU approval news, two weeks ago, and we covered it when it was at $2.51 and included it, again, in this morning’s snapshot.
Rail Vision is closing in on a new 52-week high, hitting $18.3594, before closing at $14.69, up $5.19 (+54.63%), on 31.8M shares traded.
Rail Vision is a technology company that is seeking to revolutionize railway safety and the data-related market. The Company has developed cutting-edge, artificial intelligence based, industry-leading technology specifically designed for railways. The Company has developed its railway detection and systems to save lives, increase efficiency, and dramatically reduce expenses for the railway operators. Rail Vision believes that its technology will significantly increase railway safety around the world, while creating significant benefits and adding value to everyone who relies on the train ecosystem: from passengers using trains for transportation to companies that use railways to deliver goods and services. In addition, the company believes that its technology has the potential to advance the revolutionary concept of autonomous trains into a practical reality.
Website: https://www.railvision.io/
Revelation Biosciences (NASDAQ:REVB) was one of the momentum movers we finally covered when it was trading at $18.23, up $8.36 (+84.72%), on 1.6M shares traded. It was in the midst of an amazing rally, as it ran to $25.26, but the trading halts were too much and it closed at $12.99 (+31.66%), on 5.4M shares traded.
Revelation Biosciences, Inc. is a life sciences company focused on harnessing the power of trained immunity for the prevention and treatment of disease using its proprietary formulation Gemini. Revelation has multiple ongoing programs to evaluate Gemini, including as a prevention for hospital acquired infection and as a prevention for acute kidney injury.
Website: www.RevBiosciences.com
Lucid Group (NASDAQ:LCID) was a midday momentum mover that we covered when it was trading at $3.13, up $0.48 (+18.11%), on 68M shares traded. It topped out at $3.41 and closed near today’s high at $3.37, up $0.72 (+27.17%), on trading volume of 124.3M shares.
Lucid’s mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience. The company’s first car, the Air, is a state-of-the-art luxury sedan with a California-inspired design. Lucid Air Grand Touring features an official EPA estimated 516 miles of range. Assembled at Lucid’s factories in Casa Grande, Arizona, and King Abdullah Economic City (KAEC), Saudi Arabia, deliveries of Lucid Air are currently underway to customers in the U.S., Canada, Europe, and the Middle East.
Website: www.lucidmotors.com
Another midday momo that may carry over into tomorrow is FibroGen (NASDAQ:FGEN), which we covered when it was trading at 1.49, up $0.55 (+52.90%), on 8.8M shares traded. It, too, closed near today’s high of $1.82, at $1.71, up $0.7741 (+82.71%), on 22.7M shares traded.
FibroGen, Inc. is a biopharmaceutical company focused on accelerating the development of novel therapies at the frontiers of cancer biology. Pamrevlumab, an anti-CTGF fully human monoclonal antibody, is in clinical development for the treatment of metastatic pancreatic cancer and locally advanced unresectable pancreatic cancer (LAPC). Roxadustat (EVRENZOTM) is currently approved in China, Europe, Japan, and numerous other countries for the treatment of anemia in chronic kidney disease (CKD) patients on dialysis and not on dialysis. Roxadustat is in clinical development for chemotherapy-induced anemia (CIA) and a Supplemental New Drug Application (sNDA) has been accepted for review by the China Health Authority. FibroGen recently expanded its research and development portfolio to include antibody-drug conjugate (ADC) and immunoncology product candidates for the treatment of solid tumors.
Website: www.fibrogen.com
Have a great evening and we’ll see you tomorrow.
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