U.S. equities recovered from early losses Wednesday to close with a small gain. All three major indexes closed higher, with eight of 11 sectors finishing in the green. Defensive stocks like utilities (up 1.5%) and consumer staples (up 1.0%) led, while energy (down 1.1%) and materials (down 0.3%) lagged. Growth stocks finished higher thanks to a small dip in the yield on 10-year Treasuries to 1.52%. All three indexes traded higher in Thursday’s premarket session.
AMC Entertainment Holdings Inc. (NYSE: AMC) closed down by less than 1% on Wednesday and was trading higher by a similar amount in Thursday’s premarket. CEO Adam Aron on Wednesday tweeted “Huge news Dogecoin fans!” announcing that the company would now begin accepting the cryptocurrency to buy AMC gift cards up to a value of $200 a day. The stock traded less than half its average daily volume of around 84 million shares.
Shares of Camber Energy Inc. (NYSEAMERICAN: CEI) dropped almost 41% on Wednesday to close at about $0.91, after touching an intra-day low of $0.86. Shares traded up about 29% in Thursday’s premarket following an SEC filing late Wednesday stating that the company currently is “not considering” a reverse stock split. Camber also filed an amended report related to its acquisition of 51% of Viking Energy stock in December of last year. Precisely what these filings include that would cause the stock to jump by 30% is a mystery to us, but at least one retail investor is sure that short seller Kerrisdale Capital has been “proven wrong & likely facing lawsuits.” Stay tuned.
Aterian Inc. (NASDAQ: ATER) closed down more than 13% on Wednesday and recovered to trade up by about 2% in Thursday’s premarket. Trading volume was lighter than average, and the company had no specific news.
Tilray Inc. (NASDAQ: TLRY) reported quarterly results Thursday morning that missed profit estimates but hammered revenue forecasts. Shares closed down by about 2.8% to $10.79 on Wednesday and traded up less than 1% early Thursday. The company’s acquisition of Aphria has saved Tilray about $20 million cash and about $55 million in total operating costs so far. Tilray expects total cost savings of $80 million as a result of the merger.
Shares of Vinco Ventures Inc. (NASDAQ: BBIG) dropped by about 9.6% on Wednesday and traded up more than 25% in Thursday’s premarket. The company and its announced merger partner Zash Global Media has announced that their current joint venture, ZVV Media Partners, has signed a binding agreement to acquire AdRizer for $108 million. The acquisition will be integrated with ZVV’s Lomotif ad platform. ZVV will pay $25 million in cash and the remaining $83 million in Zash common stock. Once the deal closes, there is a two-year lockup period on the common stock.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
