Top Trending Tickers On StockTwits For March 12
Here's a look at the top tickers trending on StockTwits.com.
Plug Power: So now what?
Yesterday's 40.8 percent collapse in Plug Power (NASDAQ: PLUG) shares the Stock Twits community are debating how to proceed from here.
Yesterday's 40.8 percent collapse in shares of Plug Power (NASDAQ: PLUG) can be attributed to Citron Research's negative report. Andrew Left's Citron established a price target of $0.50 because the company has “no unique technology. No scalability. No demand. No brand equity. No media hype. No analyst support."
“$PLUG Exaggerated selloff? More than likely,” said one user. “$PLUG Should bounce today.. I just want the dust to settle before I think about jumping back in,” said another.
Plug Power is expected to issue earnings and guidance on Thursday. Naturally, Citron Research is cautioning investors that they “cannot trust management guidance... not even a little bit" as the company has a track record of failing to live up to guidance.
Shares were trading higher by 2.32 percent in the pre-market session.
Synta Pharmaceuticals: Investors not happy with quarterly report
This morning, Synta Pharmaceuticals (NASDAQ: SNTA) reported its fourth quarter results. The company announced an EPS of -$0.31, missing the consensus estimate of -$0.30. The company collected no revenue in the quarter. Net loss for the quarter rose to $20.0 million from $14.4 million in the same quarter last year.
Synta Pharmaceuticals announced that its GALAXY-2 trial will be conducted in the second half of 2015 and the final analysis to be conducted in the first half of 2016.
Analysts at Stifel downgraded shares to sell following the company's earnings report and noted “Timeline delays (again), target patient population adjustment (again) and enrollment expansion (again) dims the prospect for a positive Phase 3 outcome in our opinion.” Additionally, the analysts noted that the company could run out of cash by the end of 2014 given the large expenses needed to support its GALAXY-2 trial. The company recently raised $60 million in November 2013 but burnt through $20 million cash in the quarter.
Shares were trading lower by 19.13 percent in the pre-market session.
OXiGENE: Reported positive Phase 2 results
Last night, OXiGENE (NASDAQ: OXGN) said that its Phase 2 trial of its Zybrestat ovarian cancer drug “"met its primary endpoint of a statistically significant increase in progression-free survival." The company expects to submit its study at future scientific meetings.
OXiGENE's CEO Peter Langecker confirmed that the company is evaluating the next step to bring the drug to patients in need given that the drug is the first vascular disrupting agent to “show a statistically significant progress-free survival benefit.”
Shares were surging 125.62 percent in the pre-market session.
Copper ETN: New lows established yesterday
In yesterday's trading session the price of copper fell as low as $2.95, the lowest the commodity has traded at since 2010. Investors are equating the shocking Chinese export numbers to the price of copper. China accounts for around 40 percent of the world's copper demand.
The iPath DJ-UBS Copper Total Return Sub-Index ETN (NYSE: JJC) is designed to provide investors with exposure to the Dow Jones-UBS Copper Subindex Total Return.
The ETN posted no trades in the pre-market session.
National Bank of Greece: In focus following George Soros' comments, economic data
Billionaire investor George Soros said that Europe faces 25 years of Japanese-style stagnation unless politicians change their policies which have discouraged banks from lending money.
Investors are also focusing on news that Greece's economy contracted less than expected in the fourth quarter of last year. Greece's GDP contracted by an annual rate of 2.3 percent in the quarter, less than the 2.6 percent economists had expected. This marks the country's best economic performance since the first quarter of 2010.
Shares of National Bank of Greece (NYSE: NBG) have almost doubled from its 52 week lows of $2.85 but the country's economic woes and growth prospects are still uncertain.
Shares were trading higher by 0.93 percent in the pre-market session.
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