They’re Back- 24/7 Market News Wrap 13 Dec 2023
DENVER, Colo., Dec. 13, 2023 (247marketnews.com)- 24/7 Market News covered the following companies today; Shattuck Labs Inc (NASDAQ:STTK), Reshape Lifesciences Inc (NASDAQ:RSLS), C4 Therapeutics Inc. (NASDAQ:CCCC), Chanson International Holding (NASDAQ:CHSN), and ADC Therapeutics SA (NYSE:ADCT).
Other than a few exceptions, today’s runners had a very familiar feel.
However, today may be the first time that we covered Shattuck Labs (NASDAQ:STTK), which reported positive initial topline dose-expansion data from its ongoing Phase 1A/B clinical trial of SL-172154. Shattuck Labs popped in the premarket, but pulled back and we covered it when it was trading at $2.88, up $0.77 (+36.49%), on 1.8M shares traded, and stated that it could set a new 52-week high price.
Shattuck hit a new 52-week high, $5.4199, a few minutes into the regular trading, but 30 minutes later was trading at $3.67, before it made a nice run for the remainder of the session, closing at $4.86, up $2.75 (+130.33%), on trading volume of 56.8M shares.
ReShape Lifesciences (NASDAQ:RSLS) published a nice FDA PMA supplement approval and U.S. product launch initiation announcement, but its volume is what we really liked, so we covered it when ReShape was trading at $0.3535, up $0.1025 (+40.84%), on 12.3M shares traded, as it was on track to easily eclipse its reported 13.01M shares in the float.
ReShape churned through the float twice in the premarket on 29.6M shares traded and the volume strengthened in the regular session, where it hit 59-cents and closed at $0.3844, up $0.1334 (+53.15%), on 203.5M shares traded.
Keep an eye on ReShape, because the fail to deliver share count may be sizable, unless the average share actually exchanged hands nearly 15 times each today.
We reminded readers that we covered yesterday’s C4 Therapeutics (NASDAQ:CCCC) news, when it was at $1.89, after this morning’s open, when it was at $3.23, up $0.89 (+38.04%), on 32.8M shares traded, because it looked like it was still in beast mode.
4C hit a high of $6.03 and basically formed a triple top just above the $6 level, before closing at $5.51, up $3.17 (+135.47%), on 223.3M shares traded. The price and volume means that 4C traded nearly a billion dollars and churned its 39.86M shares in the float over 4.5 times. The party here may be over, or if there are enough fail to deliver shares look for 4C to hit Godzilla mode.
Chanson International (NASDAQ:CHSN) is another blast from the past, as we first covered Chanson in May, when it was $2.52, and as recently as last week, when it was $6.22. Today, we reminded our readers when it was trading at $16.00, up $4.72 (+41.84%), on 1.5M shares traded. We first covered this in May, when it was $2.52, and as recently as last week, when it was $6.22.
We spotted another easy trade ADC Therapeutics SA (NYSE:ADCT) and covered it when it was trading at $1.42, up $0.39 (+37.86%), on 4.9M shares traded. A rare NYSE mover, ADC made two easy tradable moves, with the second hitting $1.748, just before closing at $1.68, up $0.65 (+63.11%), on 7.7M shares traded.
It feels like, at least, one of these is going to turn into a big short squeeze, so keep these on your trading screens for the next week.
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