US Biopharma and transport stocks surge over the last trading session, Coke invests in the sports drinks sector, andNextech announce a private placement.
Tesla Inc. (NASDAQ: TSLA) jumped 4% on Monday, extending its gains from last month. The electric car maker saw its stock gain 50% in October, pushing its market cap to over $1 trillion.
The jump resulted from the announcement that the company is piloting a program that will see ten of its Supercharger station used for other cars. The pilot takes place in the Netherlands, and non-Tesla cars will pay more than what Tesla drivers pay. Another development that triggered the jump is launching a lease program in china that allows customers to get Tesla cars without any down payment.
Airlines facing flight crew shortage
American Airlines Group Inc.’s (NASDAQ: AAL) shares were still up 2.5% on Monday despite the company canceling 6% (340 flights) of its planned schedule as labor shortages and weather ravages airlines. Over the last four days, the company has canceled almost 2,300 flights. Usually, American Airlines increases flights during the holiday season, but things have been depressing this year as the airline struggles to get flight crew.
Two pharmaceutical stocks soared yesterday
Another US stock seeing considerable activity is ABVC BioPharma Inc. (NASDAQ: ABVC) which soared on abnormal volume on Monday morning. The stock’s 100-day average daily trading volume is 1.738 million, but on Monday, more than 54 million shares exchanged hands. On Friday, the biopharmaceutical company filed a $50M mixed securities shelf offering.
ANI Pharmaceuticals (NASDAQ: ANIP) jumped 45% after the company announced net revenue of $52.1 million in Q3 2021. During the quarter, generic drugs net revenues were down 6.8% YoY to $35.1 million. The decline was due to the sales decrease for penicillamine, vancomycin, erythromycin ethylsuccinate, and methazolamide. However, the decline was offset by the launch of nebivolol and nicardipine.
Nextech AR Solutions announce $5million private placement
Nextech AR Solutions Corp (OTCMKTS: NEXCF) has entered a private placement securities purchase agreement with institutional investors for common shares and warrants to buy common shares. As per the agreement terms, the company will issue 3.03 million common shares and warrants to acquire around 1.515 million common shares at C$1.65 per share and related warrants. Gross proceeds from the sale will be C$5 million for working capital and corporate purposes.
Coke rivaling Pepsico in the sports drinks market
Beverage giant Coca-Cola Inc. (NYSE: KO) is taking on Pepsico Inc. (NASDAQ: PEP) in the sports drinks market. Coke has made a $5.6 billion investment in Bodyarmor, a sports drinksmaker. Currently, PepsiCo dominates the market with its Gatorade drink, and Coke is banking on Bodyarmor to help it compete with PepsiCo for market share. Bodyarmor is the second-largest player in the sports drinks sector for a market that has seen retail hit $14 billion this year.
The post Market Highlights: Monday’s big movers, Coke rivaling Pepsico, Nextech AR Solutions announce $5M placement appeared first on Invezz.